Chapter Leader Webinar RECORDING LINK (https://ncmahq.webex.com/ncmahq/lsr.php?RCID=14ba7075d8755a1377b4614131308866)
NCMA Chapter Relations Specialist Welcome! Vanesa Powers NCMA Chapter Relations Specialist
A New Look! Chapter Financial Report
Chapter Financial Report Content Revenue Expenses Banking Information Supplemental Information New! Tips to Remember
Federal Identification Number All NCMA chapters must have a Federal Tax Identification Number to operate and be included in the NCMA Group Return
Keys Points to Remember Before You Start The financial report is prepared on a cash basis. The IRS requires the dates of July 1st – June 30th for the tax year. The beginning balance must match the ending balance of the previous year.
Items listed under “Other Revenue” are required to be explained The “Other Revenue” category is to be used only for items that do not fit in any of the categories listed above.
“Other Expenses” should not exceed 5% of total expenses DO NOT record Grant/Scholarship funds provided to the chapter by NCMA in the Expenses Section . “Other Expenses” should not exceed 5% of total expenses Refer to Tips to determine the difference between a Grant and a Scholarship
Banking Information
Supplementary Information: Grants and Sponsorships Total amount posted here must match the figures listed under the Expenses section of this report.
Supplementary Information: Board Members - Compensation List the names of ALL current Board Members. (including those listed the previous year) Chapter Board Members are volunteers. Therefore this total should always be zero
Supplementary Information: Board Members – Payments Other than Compensation List Grants or Scholarships awarded to Board Members and the names of the recipients. Amounts listed here should also be listed under Grants & Scholarships under Supplementary Information.
There are no policies stating Board Members cannot be related Supplementary Information: Board Members – Relationships and Volunteers List the total number of volunteers. Do not include your total chapter membership numbers. There are no policies stating Board Members cannot be related
Chapter Audit Checklist Conduct the basic functions on the checklist on a quarterly basis for easy end of year reporting Strive for all answers to be “YES”!
Chapter Annual Reports The Financial and Audit Report can be found and submitted online. Chapter Annual Reports Any questions about Financial Reporting can be forwarded to: chapterfinance@ncmahq.org or chapterrelations@ncmahq.org
You can reach us: Tanya Bittenbender NCMA Chapter Relations Manager 1.800.344.8096 x1124 tanya.bittenbender@ncmahq.org Vanesa Powers NCMA Chapter Relations Specialist 1.800.344.8096 x1120 vanesa.powers@ncmahq.org