Message from Governor Vicki Oct 31

Soroptimists,
 
All Soroptimist clubs holding any 501(c) federal tax status are required to file annually with the Internal Revenue Service (IRS) a version of Form 990 no later than the 15th day of the fifth month following the conclusion of the club’s tax/fiscal year. For most clubs, the annual deadline is November 15.
 
Clubs that have gross annual income of $50,000 or less may file their annual return by the “e-postcard” system.  PLEASE NOTE:  The IRS recently has changed this system, and it requires more stringent login practices.  Please consult the IRS User Guide for information on using this new system, and please allow plenty of time to complete your filing.  Filing with the “e-postcard” system generates a receipt.  Please make sure to print out the receipt.  Clubs above the $50,000 threshold should file the appropriate form with the IRS before the November 15 deadline
 
SIA headquarters urges all clubs to adopt procedures that provide for the treasurer (or other responsible individual) to provide verification of the filing to the club’s board of directors.  If utilizing the “e-postcard” system, a copy of the receipt provided will serve as verification.  If another version of the Form 990 must be filed, it is a best practice for the board to review the 990 before it is filed.  Forms 990 and 990 EZ that are filed electronically by preparers also produce a receipt that can be used to verify the filing for the club board.     
 
Any club that has not filed an annual return for three consecutive years will have its federal tax status revoked by the IRS.  This means donors will no longer be able receive charitable deductions for their donations, and that the club will be liable for federal income taxes. This has already happened to about two dozen Soroptimist clubs. The paperwork to reinstate 501(c)(3) status can be overwhelming, and filing fees to regain this status will be assessed by the IRS.  Clubs are urged not to let their status lapse by not filing as required. 
 
For questions about filing the annual 990, please visit the IRS website’s section on exempt organizations at www.irs.gov/eo.
 
Governor Vicki 
SNR Governor 2016-2018