District 12-N 2020 Club Treasurer Training
- Handout of Slides from Training
- Club Treasurer e-Book
- Sample Charity and Admin Budgets 2015-2016 (Excel – OLD)
- Best Practices for Financial Transparency
- Receive all monies and deposit the bank(s) recommended by the Finance Committee and approved by the Board of Directors.
- Arrange for issuance, in cooperation with the Secretary, quarterly or semi-annual statements to each member for dues and other financial obligations owed to the Club, and report payments to the Board of Directors.
- Pay out monies in payment of Club obligations only on authority given by the Board of Directors.
- Have custody and keep and maintain general records of club receipts and disbursements.
- Prepare and submit monthly and semi-annual financial reports to the Board of Directors.
- Give bond for the faithful discharge of the office in such sum and with such surety as determined by the Board of Directors.
- Deliver, in a timely manner, at the conclusion of your term in office, the financial accounts, funds and records of the Club to your successor.
- Serve as chair of the Finance Committee
- All clubs chartered under Lions Clubs International in the United States are exempt from federal income taxes under the IRS Code section 501(c)4.
- Lions Clubs are not considered charities and donations to Lions Clubs or projects are not deductible as charitable contributions, unless your Club has filed to be a 501(c)3, which has additional reporting requirements.
- An informational return is to be filed with the IRS annually by November 15 (Form 990, version dependent on Club’s annual gross revenue). The IRS is required to revoke the tax-exempt status of any organization that fails to meet their filing requirement for three consecutive years.
- Clubs that own any property must file the Form 990-EZ or 990
|Club’s Annual Gross Revenue||IRS Form Required||Filing Method|
|Less than $50,000||Form 990-N (e-Postcard)||Electronic only|
|$50,000 to $200,000||Form 990-EZ||Electronic or Paper|
|More than $200,000||Form 990||Electronic or Paper|