DISTRICT 7890 ASSEMBLY CLUB TREASURER BREAKOUT SESSION

1. DISTRICT 7890 ASSEMBLY CLUB TREASURER BREAKOUT SESSION District 7890 Assembly Program Presentation Scott A. Andrusis, District Treasurer sandrusis@farmingtonbankct.com 860-284-4569 May 9, 2018

2. Treasurer’s Responsibilities: • Updating your Club accounts with the correct authorized signers for that year by early July, ensuring all check/savings books are under your control, and establish and updating logins to online bank account information; • Importance of having a Club 501(c)(3) established and separating operating funds from charitable funds; • Create an annual budget for your Club and submit to BOD for approval; • Create a monthly report (actual vs. budget) for your Club’s BOD meetings;

3. Treasurer’s Responsibilities: • Reconcile bank statements and save them electronically, as well as maintain a reliable system (i.e.,Quickbooks) for appropriating and tracking revenue and expenses for auditing purposes; • Ensure that your Club tax filings are filed on time; • Obtain insurance certificate for Club sponsored events; • Have a written process and procedure for check requests, especially reimbursement. • For more details refer to RI “Lead your Club – Treasurer” https://www.rotary.org/myrotary/en/document/lead-your-club-treasurer

4. Tax Return filing requirement:https://www.irs.gov/Charities-&-Non-Profits/Form-990-Series-Which-Forms-Do-Exempt-Organizations-File-Filing-Phase-In

5. Insurance Certificate • U.S. Rotary club and district liability insurance program • Active U.S. Rotary clubs and districts are provided with general liability ("GL") and directors & officers/employment practices liability ("D&O/EPL") insurance through the U.S. Rotary Club and District Liability Insurance Program ("Program"). The Program is financed by insurance assessments collected from U.S. Rotarians. • Note: The Program does NOT provide coverage for bodily injury or property damage sustained by a first-party insured, such as a Rotarian or volunteer. • To obtain a certificate of insurance, insurance policies and summaries, and loss control guidelines, please visit the Insurance Information Portal or District 7890 ClubRunner Home Page http://rotarydistrict7890.org/ . You will find the forms on the left side of the Home Page under “Home Page Download Files”. • Note: Insurance information Portal is a protected website and can be accessed with a user name and password only. User name and password have been provided to club and district officers through the annual mailing. You can also contact Lockton to obtain a user name and password at rotary@lockton.com. • Insurance Information Portal's web address is https://www.locktonportal.com/sites/rotary/resources • To report an incident, please contact Rotary International Risk Management. • If you have further questions regarding coverage, please contact Lockton Companies: • Phone: 800-921-3172Fax: 312-681-6769Email: rotary@lockton.com

6. First Type – 501(c)(4) 501(c)(4): an American tax-exempt, nonprofit corporation or association. Examples are civic leagues, social welfare organizations (i.e., clubs) and local associations of employees.

7. First Type – 501(c)(4) • Rotary examples (corporate): • The Rotary Club of (Your Club) • Rotary District 7890 • Rotary International (US) • Monies given to these orgs are NOT tax-deductible as they are used for operational purposes.

8. District 7890 – 501(c)(4) Income: District Dues • Billed annually in late October emailed to Club President and Treasurer as reflected on ClubRunner • Per person billing based on current Club members (July SAR) • Club assessed for PETS & D & O Insurance • Paid out of club dues • Checks made payable to “Rotary District 7890” Expenses: • District Website • Committee budgets • Administrative expenses • Training for Presidents-Elect • District D&O Insurance

9. Rotary International & District Dues for 2018/2019Subject to Change

10. Rotary International – 501(c)(4) Income: • Bill clubs semi-annually in July and January (SAR) • Per person billing based on current Club members • Paid out of Club dues • Checks made payable to “Rotary International” Expenses: • Staff and Physical Plant • Administrative expenses • Training • Website & supporting materials • Magazine, insurance, etc. RI Headquarters, Evanston, IL

11. 501(C)(4) Structure of RI District 7890 Rotary International DUES DUES SERVICES SERVICES Rotary Club of (Your Club)

12. Second Type – 501(c)(3) 501(c)(3): an American tax-exempt, nonprofit corporation or association. Examples are religious, educational, charitable, scientific, literary, or prevention of cruelty organizations.

13. Second Type – 501(c)(3) • Rotary examples: • The Rotary Club of (Your Club) Charitable Fund • The Rotary Foundation(US) • Monies given to these orgs ARE tax-deductible as they are used for charitable purposes.

14. The Rotary Foundation501(c)(3) Income: • Member donations • Outside donations & matching grants • Corporate Partners • Investment proceeds from fund investments

15. The Rotary Foundation501(c)(3) How do I donate to The Foundation? 1. Make check payable to “The Rotary Foundation” 2. Put your Rotary ID # on the memo line (on your site profile or Rotary International) 3. Complete a Foundation Contribution Form (found under RI Website) https://www.rotary.org/myrotary/en/check-draft-or-wire-payments Under Resources and References select: The Rotary Foundation Contribution Form 4. Mail to: The Rotary Foundation 14280 Collections Center Drive Chicago, IL 60693 USA

16. The Rotary Foundation501(c)(3) How do I donate to The Foundation “Polio Plus” if you prefer not to complete Contribution Form? • Make check payable to “The Rotary Foundation” • Put your Rotary ID # and “Polio Plus” on the memo line (on your site profile or Rotary International) • Mail to: Prasad Menon 12 Sharlin Drive West Simsbury, CT 06092

17. The Rotary Foundation501(c)(3)

18. 501(C)(3) Structure of RI (District 7890) The Rotary Foundation DONATIONS GRANTS GRANTS Rotary Club of (Your Club) Charitable Fund and Member Donations