Irs 941 C Form

							Nonprofit Compliance:                                               Annual Filing
  Key documents to renew every year at state and federal levels




                                               November 2003




  D:\Docstoc\Working\pdf\9ab34eea-41c2-4fc9-b14f-78eeda79fc40.doc
Nonprofit Compliance: Annual Filing
Key documents to renew every year at state and federal levels
 In t r o d uc t Io n

              Nonprofit compliance is a general term that relates to the many reporting, regulatory and legal
              requirements by which a nonprofit organization must abide. It encompasses requirements at
              the federal, state, and local levels. It includes one-time applications, annual filings with
              government entities, quarterly reporting, and ongoing practices. It touches upon a broad range
              of organizational functions—from starting your nonprofit, to maintaining your legal status as a
              501(c)(3) tax exempt organization, to operating in a legally sound manner.

              An understanding of nonprofit compliance issues is required in order to successfully start a
              nonprofit organization and remain in good standing. Failure to comply may result in fines,
              penalties, and even the loss of an organization’s tax exempt status.

              C-One, the Center on Nonprofit Effectiveness, has created the Nonprofit Compliance series:

                       I.            Nonprofit Compliance: Startup
                       II.           Nonprofit Compliance: Annual Filing
                       III.          Nonprofit compliance: HIPPA Resources
                       IV.           Nonprofit compliance: Payroll and HR (coming soon)


About this document

              Nonprofit Compliance: Annual Filing is a collection of data synthesized from a variety
              of sources. It was established in response to questions about nonprofit compliance frequently
              asked by visitors to the C-One Nonprofit Resource Center.

              The purpose of the document is to direct nonprofits to sources of additional information and
              resources that may help them comply. The document summarizes requirements for renewing
              key registrations every year. For each document highlighted, efforts were made to provide the
              following basic information:

                       What? Brief description of key requirement

                       Who? To which organizations the requirement is applicable

                       How much? Applicable fees

                       When? Applicable due dates

                       More information: Name and contact information for the governing
                       federal, state, or local entity; and online forms, instructions and other information



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              The documents highlighted in this communication are:

                             Annual report to the State of Florida Division of Corporations
                              Not-For-Profit Uniform Business Report (UBR)

                             Annual renewal of registration with State of Florida
                              Solicitation of Contributions Registration Statement (DACS -10100)

                             Annual Federal IRS Form 990

                             Return of Organization Exempt from Income Tax (Form 990)

                             Employer's Quarterly Federal Tax Return (IRS Form 941)—filed four times
                              each year




 Ke y d o cu m e n ts f I le d o r r e n e we d a nn u a l l y

Annual report to the State of Florida Division of Corporations
Not-For-Profit Uniform Business Report (UBR)

              The Uniform Business Report is a follow up to the Articles of Incorporation filed with the
              State of Florida’s Division of Corporations when the organization was first established.
              Incorporation established your organization as a separate legal entity. A corporation
              protects individuals within the group with limited liability. If anyone sues the group, it
              normally will be the corporation and its assets which are liable rather than the individual
              leaders. Nonprofits are required to submit a report annually between January 1
              and May 1.

              Fee: $61.25 (plus optional $8.75 for certificate of status)

              Tips and resources:

                       Application form: www.form.sunbiz.org/NonProfit_UBR_form.html

                       Mail to:      USPS                                         FedEx/UPS/other Couriers
                                     Division of Corporations                     Division of Corporations
                                     P.O. Box 1500                                409 East Gaines Street
                                     Tallahassee, Fl 32302 -1500                  Tallahassee, Fl 32399
                                     Phone: 850-245-6059


Annual renewal of registration with State of Florida
Solicitation of Contributions Registration Statement (DACS-10100)

              The Solicitation of Contributions Registration Statement is a follow up to the original
              registration completed when the organization was first established. Registration is
              necessary in order for an organization (or individual) to solicit or collect money for charitable
              purposes in the State of Florida. This applies to charitable organizations, sponsors,
              professional solicitors, as well as professional fund raising consultants. It does not apply to
              bonafide religious or educational institutions, government agencies or political groups.
              It must be renewed annually on the date it was originally filed.

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              Fee: For organizations that gross charitable contributions of:

                       $5,000 or less                                                       $10
                       $25,000 or less with no paid officers or fundraisers                 $10
                       $5,000- $100,000                                                     $75
                       $100,000-$200,000                                                   $125
                       $200,000-$500,000                                                   $200
                       $500,000- $1 million                                                $300
                       $1 million- $10 million                                             $350
                       $10 million or more                                                 $400
                       plus a late fee of $25 per mont h

              Tips and resources:

                       Registration form: http://www.doacs.state.fl.us/onestop/forms/10100. pdf

                       Information: http://www.doacs.state.fl.us/onestop/cs/solicit.html

                       Information by phone at 1-800-HELP FLA (1-800-435-7352)


Annual Federal IRS Form 990
Return of Organization Exempt from Income Tax (Form 990)

              IRS form 990 titles “Return of Organization Exempt from Income Tax,” compiles
              information about an organization's finances, program activities, and board of directors. It
              is a public document. Anyone may obtain a copy.

              Most nonprofits need to file a 990 Form wit h the Internal Revenue Service every year and
              maintain a copy of your IRS 990 Return in office headquarters for public inspection. All
              nonprofit organizations with total annual receipts over $25,000 must file. Organizations
              with gross annual receipts between $25,000 and $100,000 and assets less than
              $250,000 may file Form 990E Z instead.

              If your organization's annual gross receipts are normally less than $25,000, you are
              exempt from this requirement. However, many do anyway in order to avoid being
              dropped from the public list the IRS maintains. Also, for organizations that gross
              “unrelated business taxable income” of more that $1,000, or make a “profit,” the
              organization is required to submit a form 9 90.

              990 Forms must be filed by the 15th day of the 5th month after your organization's
              accounting period ends (i.e., count from December 31 if you follow the calendar year). If
              this day falls on Saturday, Sunday or legal holiday, your form must be filed on the
              following business day. Organization’s can request up to two 3 -month extensions.

              With its attached Schedule A, 990 Forms can total 10 pages long. Failure to file or follow
              public disclosure requirements, or filing inaccurate information, can result i n hefty fines
              and/or impris onment.

              Fees: Late Fees are                                                   $20 a day




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              Tips and resources:

                       Form 990: http://www.irs.gov/ pub/irs-fill/ f990.pdf

                       Form 990E Z: http://www.irs.gov/ pub/irs-fill/ f990ez.pdf

                       Form 990T: http://www.irs.gov/ pub/irs-fill/f990t.pdf

                       Schedule A: http://www.irs.gov/ pub/irs-fill/f990sa.pdf

                       Schedule B: http://www.irs.gov/ pub/irs-fill/f990-ezb.pdf

                       Instructions: http://www.irs.gov/pub/irs-pdf/i990-ez.pdf



Employer's Quarterly Federal Tax Return
(IRS Form 941)

              All employers are required to withhold their employees ' wage income, social security and
              Medicare taxes and submit these to the IRS regularly. The IRS Form 941, or the
              Employer's Quarterly Federal Tax Return, is used to report income, social security and
              Medicare taxes that are withheld by an employ er and social security and Medicare taxes
              that are paid by an employer.

              IRS 941 Forms must be filed within 30 days afte r the last day of each calendar quarter.

              Failure to file or deposit withheld taxes on a timely basis can result in hefty fines and
              personal liability for anyone who fails to collect, truthfully account for, or pay any payroll
              taxes.

              Tips and resources:

                       Form: http://www.irs.gov/ pub/irs-fill/ f941_a.pdf

                       Telephone: 1-800-829-FORM.




Additional resources
Check out the books, manuals, and online resources available
in the C-One Nonprofit Resource Center.
Ronni W. Bermont Library in the United Way Ansin Building, 3250 SW Third Avenue, Miami,
Florida, 33129. Phone: 305-646-7081. Fax 305-860-1604. Email: info@c-one-miami.org


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