Download - District 7570
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District 7570
District Training Team Seminar February 28 - March 1, 2014
Preparing District Leadership: An Overview
DGE Vivian Crymble
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District 7570 DTTS 2014
Financial MattersWhat clubs must do financially
Rotary International
District 7570
IRS
Expense Assistance
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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
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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
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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
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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
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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)
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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
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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
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District 7570 DTTS 2014
Questions?