Attendees: PNC Joe Zoldan OH; Jerry Abrams FL; PNC Bernard Becker MA; Ray Biondo AR; Mel Brody AZ; PNC Warren S. Dolny NY; Larry Herson MA; Larry Holman PA; Judge Samuel Levine NY; Ira Novoselsky MA; PNC Norman Rosenshein NJ; Richard Rosenzweig DC; Steve Rosmarin CA; Sidney Wolff MO; Lew Wunderlich NY
Staff: NED Herb Rosenbleeth; Larry Richardson; Mrs. Bailor; Cheryl Waldman
Subject: Finance Board, The Mission
- New IRS rules require that every echelon must file 990 of some kind
- Echelons with gross income of over $25,000 will continue to file 990 or 990-EZ, as they did previously
- $25,000 represents gross income of echelon, not total of assets
- Echelons with gross income of under $25,000 are no longer able to file a waiver, but must file new form 990-N
- 990-N can be filed online only
- Each echelon must have its own Federal ID # (EIN) in order to file 990-N; please check with National Headquarters accounting department if you need your number
- 990-N requires EIN, name of party in charge, and verification that gross income is under $25,000
- After 990-N has been filed, a copy must be printed out and mailed to National Headquarters with completed Finance Board Report
- Proof of a completed 990 (of whatever type is appropriate for a particular echelon) and a valid warrant are necessary for the members of a particular echelon to be able to vote at convention
- JWV's accountant has advised National Headquarters against filing form 990-N for individual echelons
