MEMORANDUM

DATE: January 12, 2015

TO:  Chapter Presidents and Regional Council Presidents

THRU: Honorable Ms. Darlene H. Young, National President

FROM: Ms. Norma J. Samuel, National Assistant Treasurer

SUBJECT: Request for Calendar Year 2014 Financial Reports and Certification, and IRS Electronic Filing Requirements Form 990 (e-Postcard) – Due Date March 31, 2015.

The annual BIG Financial Report for the year ended December 31, 2014 is now due. The report is inclusive of the following documents listed below #1 - #5.  Guidance for preparing and submitting financial reports are included, click links for #6 - #8:

1. BIG 990-1 Required Authorization for IRS Group Return (PDF Document)
2.
BIG 990-2 Certification Form (PDF Document)
3.
BIG 990-3 Financial Activity Report (Excel Document)
4.
BIG 990-4 Financial Institution Information Form (PDF Document)
5
. IRS Form 990-N (e-Postcard) Filing Confirmation or a copy of your chapter’s IRS Form 990 or 990-EZ (as applicable)
6. Procedures For Submitting Annual Financial Reports
7. Instructions For Preparing Annual Financial Reports
8. Filing Your IRS Form 990-N (E-Postcard)

Please complete all five (5) items and forward them to the National Office postmarked no later than March 31, 2015. These financial documents should be sent to:

Blacks In Government
Attn: Ms. Norma Samuel, Assistant Treasurer, Ref. Form 990
3005 Georgia Avenue, NW
Washington, DC 20001

These forms and instructions will also be posted on the BIG website at www.bignet.org for your convenience.

It is imperative that all BIG chapters and regional councils adhere to the annual financial reporting requirements of the Blacks In Government National Constitution, as administered by the National Board of Directors, and the Internal Revenue Service. Failure to adhere to the established financial reporting requirements will result in chapter/council suspension, and possible revocation of your chapter’s charter.  Note: Always retain a copy for your records

IRS Required Reports

Under the Pension Protection Act of 2006, our chapters and regional councils whose gross receipts are normally $50,000 or less must file Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-E, unless they choose to file a complete IRS form 990 or Form 990-EZ instead.  Please be advised that the BIG financial reporting requirements are in addition to the IRS regulation.   Therefore, you are now required to submit a copy of the IRS acceptance email for your chapter/region along with the BIG forms to the National Office.

For chapters/regions whose gross receipts for calendar year 2014 were more than $50,000, you must file the IRS Form 900 or 990-EZ directly with the Internal Revenue Service, and provide a copy to the National Office, Attn: National Assistant Treasurer.

To view the 2014 Form 990 or 990EZ and instructions, please go to:

http://www.irs.gov/pub/irs-pdf/f990ez.pdf
http://www.irs.gov/pub/irs-pdf/f990.pdf

If you do not file your e-Postcard on time, the IRS will send you a reminder notice. There is no penalty assessment for late filing the e-Postcard, but an organization that fails to file required e-Postcards (or information returns – Forms 990 or 990-EZ) for three consecutive years will automatically lose its tax-exempt status. The revocation of the organization’s tax-exempt status will not take place until the filing due date of the third year.

Questions and/or request for assistance should be directed to Ms. Norma Samuel at 301.292.2684 or email NormaSamuel3005@gmail.com or Lenora Grable-Grant at 845.938.2418 or email at Lenora.Grable.Grant@bignet.org.

cc:

National Board of Directors
National Executive Committee