NAPS Tax Status

NAPS Tax Status

Tracking the Treasury Treasurer Duties Administrative & Financial Accuracy, Security & Transparency Presented by Brian J. Wagner NAPS National Secretary/Treasurer 2015 LTS Tracking the Treasury Financial Security & Transparency

Banking & Accounting Manage Dues Check-Off (DCO) Collect & Protect Dues Branch Budget Annual Audits Non-Profit & IRS Tax Filings Tracking the Treasury Accuracy, Security & Transparency Officers Training Manual (OTM) 4. Treasurer's Responsibilities 4.1. Definition of a Treasurer

4.2. The Job Description 4.3. Branch Dues 4.3.1. Recommended Language for the Article on Dues 4.4. Bank Accounts 4.4.1. Banks Accounts in the Constitution and Bylaws 4.4.2. Rules to Remember 4.5. Communicating with Headquarters 4.5.1. Raising the Amount Withheld for Branch Dues 4.5.2. DCO 4.6. The Annual Budget 4.6.1. Bookkeeping 4.6.2. Reports to the Membership 4.6.3. Audit Committee

4.6.4. Annual Report 4.7. IRS Issues 4.7.1. Form 990, 990EZ, 990-N (ePostcard) 4.7.2. Tax Identification Number 4.7.3. Tax Exempt Status 4.7.4. Retention of Records Tracking the Treasury Financial Security & Transparency Banking & Accounting Manage Dues Check-Off (DCO) Collect & Protect Dues

Branch Budget Annual Audits Non-Profit & IRS Tax Filings Tracking the Treasury Monthly Banking & Accounting Establish bank account with branch EIN DO NOT use branch officer social security # for bank account Update signature cards at bank Authorized officer signs branch checks Signer of check should not be approver of same expenses Other Option -- 2 officer signatures required on each branch check

Notify NAPS HQ when branch bank account information changes (Use DCO Direct Deposit Form) Balance monthly financial statements Tracking the Treasury Monthly Banking & Accounting Collect monthly financial statements Verify deposits, withdrawals, cashed & outstanding checks Verify approved expenses

(minutes, constitutions, motions, recommendations) Verify disbursements against approved expenses Review checks for correct payment & signatures Keep ledger of expenses by category Sample Monthly IncomeExpense Report

Tracking the Treasury Banking & Accounting Create A Voucher System Itemize expenses by category (Transportation, Parking, Lodging, Food, Registrations, Per Diem, Cell Phone, Postage, Misc. ) Establish receipt policy Offset cash advances before payment Approve disbursements (signature of officer or officers) Disbursement matches approved voucher amount

Proposed Branch Voucher 2nd Proposed Branch Voucher Front page 2nd Proposed Branch Voucher

Back page Tracking the Membership Financial Security & Transparency Banking & Accounting Manage Dues Check-Off (DCO) Collect & Protect Dues Branch Budget Annual Audits Non-Profit & IRS Tax Filings Annual Per Capita Allocation

Example Membership Avg. Yearly Dues / Member Annual HQ Per Capita NAPS HQ Per Pay Period Active Associat e

$260. 00 $65.00 $91.0 0 $45.50 $3.50 Set Aside $1.75 *Article XIII, Section 7 Set Aside Education & Training Fund

$ 4.00 $ 4.00 National Convention Fund $ 4.00 $ 4.00 The Postal Supervisor $14.00 $14.00 * Per 2014 National Constitution & Bylaws Disciplinary Defense Fund $13.00 $ 0.00

Tracking the Treasury & Members Managing Dues Check-Off (DCO) Report DCO Designation DCO Meaning ADJ USPS returned back pay to member, dues too CANCEL

Membership canceled due to Form 1188 DECR. Dues of member decreased INCR. Dues of member increased NO DED

No dues deducted for member NU EMP New Branch Member - 1187 RET. Member retired from USPS SEP. Member quits USPS or removed by USPS

Asterisk * Not Receiving Postal Supervisor Bad address listed at NAPS HQ Tracking the Treasury & Members Manage Dues Check-Off (DCO) Report Tracking the Treasury Manage Dues Check-Off (DCO) Report

Tracking the Treasury & Members Manage Dues Check-Off (DCO) Report NAPS Change Report Tracking the Treasury & Members Manage Dues Check-Off (DCO) Report Non-Member Report Tracking the Treasury Financial Security & Transparency Banking & Accounting

Manage Dues Check-Off (DCO) Collect & Protect Dues Branch Budget Annual Audits Non-Profit & IRS Tax Filings Tracking the Treasury & Members Collect & Protect Dues Dues Assessment NO DED - $3.50/pay period

Associate Member o $1.75/pay period to NAPS HQ o Associate dues paid directly to branch. Branch sets amount. Tracking the Treasury Collect & Protect Dues Dissolution & Merger of a Branch Upon dissolution of a branch, the assets (treasury) shall be distributed for one or more exempt purposes within the meaning

of Internal Revenue Code Section 501. The treasury will be audited by former and current officers of both branches. The membership from the dissolved branch will be transferred to a local or state NAPS branch within the same geographic area.

The treasury will be transferred to the branch receiving the membership of the dissolved branch. Tracking the Treasury Collect & Protect Dues NAPS Oath of Office I promise to protect all records, property and funds coming into my

custody and to turn them over to my successor when he or she is elected. So help me God. Tracking the Treasury Collect & Protect Dues IRS Rule Upon dissolution, no part of the net earnings of the branch shall inure to the benefit of or be distributable to its members, trustees, officers or other private persons, except that the

branch shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the sole purpose in finalizing the dissolution or merger of said branch. Distributing entire branch treasury to the membership is an IRS violation. Do not do this! DCO Designations Negatively Impacts Branch Treasury

DCO Designation Lost Dues CANCEL Membership canceled -- Form 1188 DECR. Dues of member decreased

NO DED No dues deducted for member RET. Member retired from USPS SEP. Member quits or removed by USPS Tracking the Treasury

Financial Security & Transparency Banking & Accounting Manage Dues Check-Off (DCO) Collect & Protect Dues Branch Budget Annual Audits Non-Profit & IRS Tax Filings Tracking the Treasury Financial Security & Transparency Budget

Prepare annually Review dues assessment Cover branch operations Representation/Meetings/Conventions/Training/Social Events Approve & Monitor Adjust accordingly Compare Budget vs. Actual Expenses Proposed Multiple Year Branch Budget

Branch Proposed 1-Year Budget Branch Budget vs. Actual Branch Expenses Tracking the Treasury Financial Security & Transparency

Budget Review Prepare annually Review dues assessment Cover branch operations Representation/Meetings/Conventions/Training/Social Events Approve & Monitor Adjust accordingly Compare Budget vs. Actual Expenses Sample Annual

Income-Expense Report Tracking the Treasury Financial Security & Transparency Banking & Accounting Manage Dues Check-Off (DCO) Collect & Protect Dues Branch Budget Annual Audits Non-Profit & IRS Tax Filings

Tracking the Treasury Financial Security & Transparency Auditing Verify treasury from last approved audit 1. Collect monthly financial statements 2. Verify deposits & withdrawals 3. Verify approved expense(s) (branch minutes, constitution & bylaws, motions, recommendations, etc.) 4. Verify checks match approved disbursements 5. Balance branch accounts (checking/savings) 6. Present written audit report with recommendations 7. Audit each time financial officers change

Tracking the Treasury Financial Security & Transparency Review NAPS Officer Training Manual (OTM) Revised October 1, 2013 Chapter 4 Treasurer Tracking the Treasury Financial Security & Transparency

Banking & Accounting Manage Dues Check-Off (DCO) Collect & Protect Dues Branch Budget Annual Audits Non-Profit & IRS Tax Filings Tracking the Treasury Financial Security & Transparency r o

f g n i l Fi s u t a t S t

i f o r P n o N And After the Break! Thank You!

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