1. President Elects Training Seminar 2019 Rotary District 7570
Jim Ridenour
D7570 Treasurer
Rotary Club of Staunton-Augusta County

2. Club Bylaws 2016 Manual of Procedure
Article 9 Finances
Section 1 — Before each fiscal year starts, the board prepares an annual budget of estimated income and expenditures.
Section 2 — The treasurer deposits club funds in a financial institution or institutions designated by the board, divided into two accounts: one for club operations and one for service projects.
Section 3 — Bills are paid by the treasurer or another authorized officer and approved by two other officers or directors.
Section 4 — A qualified person conducts a thorough annual review of all financial transactions.
Section 5 — Club members will receive an annual financial statement of the club.
Section 6 — The fiscal year is from 1 July to 30 June.

3. Dues Summary for amount frequency annual when paid RI dues $ 34.00$
half year $
July 1 Jan 1
Magazine $ $
Insurance $
per year
July 1
COL $
District dues $
December 1
Total annual $
Per quarter $

4. IRS – Tax Filing Rotary Club is 501(c) 4
Gifts to the club are not tax deductible
If you have a foundation it is a 501(c) 3
Gifts to The Rotary Foundation and club foundations are tax deductible
Club must file a form 990-N if gross receipts <$50,000 (includes meal payments)
Year ends June 30 – due by Nov 15
Fail to file for 3 years – may lose tax exempt status
More info at irs.gov

5. Questions and Help Jim Ridenour, District Treasurer
Jacob Higginbotham, District Asst. Treasurer