District 7570

District Training Team Seminar February 28 - March 1, 2014

Preparing District Leadership: An Overview

DGE Vivian Crymble

District 7570 DTTS 2014

Financial MattersWhat clubs must do financially

Rotary International

District 7570

IRS

Expense Assistance

District 7570 DTTS 2014

Clubs must pay dues to RI twice yearly – payable July 1 & January 1• Dues 14-15 = $27.00/mbr (10 member min)• Magazine = $ 6.00/mbr• COL = $ 1.00/mbr (July only)• Liability Insurance = variable (Martinsville RC $0.11/mbr)

Rotary InternationalSemi-Annual Dues

District 7570 DTTS 2014

Rotary International Semi-Annual Dues

What must club do?• keep roll current @ Rotary.org• log on Rotary.org -> manage -> club

administration• notification methods:

USPS mail SAR packet to secretary• opt for email SAR to Pres/Sec/ Ex

Sec/Treas• opt for paperless – email reminder

District 7570 DTTS 2014

Rotary InternationalSemi-Annual Dues

What must club do?• paperless – log on Rotary.org -> manage -

> club administration• pay by credit card (mail SAR worksheet

later) • or mail invoice/SAR worksheet & check

• paper – complete invoice/SAR worksheet & mail in with check

Note: club that does not pay dues in 6 months will be terminated

District 7570 DTTS 2014

District 7570

Club must pay District dues once a year (no relationship to RI Semi Annual Dues)

Payment (in accordance with District P&P manual):• dues = $23.00 per member• Database/website maintenance fee = $35.00

per club

District 7570 DTTS 2014

District 7570

Procedure:• Club Secretary submits September 30th club roll

to District Secretary• District Treasurer prepares invoice based on

official 9/30 club roll furnished by Dist Secretary• Invoice emailed to President, Secretary, &

Treasurer in early November - payment due December 1

• 5% penalty assessed for payments not received by January 1 (alert emails issued in late December)

District 7570 DTTS 2014

IRS – Tax Filing

• A Rotary club is categorized as a 501(c)4 non-profit entity and must file a form 990 Federal information return, each year

• Club, with gross income of $25,000 or less, must file a form 990-N (electronic e-postcard report) – available at www.irs.gov/eo

• Operating on a 7/1-6/30 fiscal year, return must be filed by 11/15 – club failing to file returns for 3 consecutive years is subject to revocation of tax-exempt status

District 7570 DTTS 2014

Expense Assistance

• District Budget funds available to partially offset expenses incurred in carry out District-related duties – beyond typical Rotarian expenses• Finance Committee policies DFC-1, DFC-2,

& DFC-3 (rotary7570.org – Fin Comm tab)• Payment for authorized invoice or

documented expense – approved by elected officer or committee chair

• Utilize reimbursement voucher (Fin Comm tab)

• Transmit to Dist Treasurer – payment in 1-2 weeks

District 7570 DTTS 2014

Questions?