Author Topic: Treasurer's Report  (Read 34 times)

GregB

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Treasurer's Report
« on: January 08, 2020, 12:56:19 PM »
Hi all! 

I've attached the 2019 annual report - we have $22,944.73 in the bank and $24,728.11 in paypal, for a grand total of $47,672.84.

Our income this year totaled $22,665.64, which is just about perfect. It gives us enough to fund conferences/meetings along with a little buffer, but it is low enough that we don't have to worry about filing a full tax return.

Speaking of which: I filed the e-postcard 990N with the IRS, which satisfies our reporting requirement as a non-profit because our usual income is below $50,000/year. They define this as the average of the previous 3 years being below $50,000, which we do easily at this point:

2017: $14,426.22
2018: $19,144.57
2019: $22,665.64

I'm not posting a separate report for the period from our November meeting through January because nothing's happened money-wise in January yet, so the annual report includes everything.

Enjoy the report and please let me know if you have any questions!

Greg

P.S. - The last couple of years I've gotten spam from some company claiming that they'll make filing the 990 easier, and at least one other SUNYLA person has gotten them too. If you do get these, please ignore/delete them. I file directly through the IRS website and the only way it could be easier is if they came to my office and did it for me.  :)