Attendees: Finance Board Chairman PNC Joe Zoldan OH; PNC Mike Berman NJ; Mel Brody AZ; Maxwell Colon CA; PNC Warren S. Dolny NY; Don Feldman PA; Larry Holman PA; PNC Jack Litz PA; PNC Monte Mayer NY; PNC Ira Novoselsky MA; William Singer NY
Staff: NEC Herb Rosenbleeth; Larry Richardson; Cheryl Waldman; Greg Byrne
Subject: Finance Board
- If Posts do not file 990 forms they will lose their exemption status and dropped from the National organization
- All Posts need to file a 990 - if make under $25,000 must file a 990(N) e-postcard, which is available only online
- IRS ordered filing of 990(N) e-postcard 3 years ago - Posts have had 3 years to comply, but the 3 years are up this year
- EIN numbers for each Post (needed to file 990 forms) are available from National Headquarters
- National will send to each Department names of Posts within that Department that are in compliance
- If a Post loses its tax-exempt status, it must reapply and pay large filing fee, and there is no promise that exemption will be reinstated
- When reports come in too close to Convention, it is hard to determine eligibility status
- Need to consider applying penalty to Posts that don't file Finance Board reports by deadline
- Impossible for National organization to enforce voting eligibility in state conventions
- Question of whether filing of forms would be simpler if all Posts had same Fiscal Year
- The e-Postcard is due every year by the 15th day of the 5th month after the close of your tax year. You cannot file the e-Postcard until after your tax year ends.
- Proposal for classes at NEC and Convention and in the magazine in how to file Finance Board and IRS forms
