06/11/2026
Here is a sample of why you need to attend our training on August 29!
Treasurers: Time to Prepare for Year-End Financial Reporting
As we approach the close of the club year, it is important for all treasurers within the San Gabriel Valley District of Women’s Clubs to begin preparing for year-end financial procedures. Careful attention now will ensure a smooth transition, accurate reporting, and continued compliance with state and federal nonprofit requirements.
Closing Income and Expense Accounts
Treasurers should begin reviewing all financial records, ensuring that income and expenses are fully recorded and categorized correctly. Reconcile bank statements, verify balances, and confirm that all outstanding checks and deposits are accounted for. This is also a good time to work with your club’s financial review or audit committee, if applicable.
Federal Filing Requirement: Form 990-N (e-Postcard)
Clubs with gross receipts normally $50,000 or less must file the IRS Form 990-N electronically. This filing is required annually to maintain tax-exempt status. Be sure to file on time—failure to file for three consecutive years will result in automatic revocation of your nonprofit status.
California State Filing: Form 199-N
Similarly, clubs with gross receipts of $50,000 or less must file the California Franchise Tax Board Form 199-N (e-Postcard). This filing confirms your organization’s continued eligibility for tax-exempt status at the state level.
Attorney General Reporting: CT-TR-1 and RRF-1
For clubs reporting less than $50,000 in gross annual revenue, the California Attorney General requires:
· CT-TR-1 (Nonprofit Treasurer’s Report)
· RRF-1 (Annual Registration Renewal Fee Report)
These forms are typically submitted together and are essential for maintaining your organization’s registration with the Registry of Charitable Trusts. Remember: Cash in your checking account, CD, money market and savings account are all assets.
For Clubs with Revenue Over $50,000
Clubs exceeding $50,000 in gross annual revenue have additional reporting
requirements:
· File IRS Form 990-EZ or full Form 990 instead of the 990-N.
· File California Form 199 (instead of 199-N).
· Submit the RRF-1 along with a copy of your IRS Form 990 or 990-EZ to the Attorney General.
· The CT-TR-1 may not be sufficient; more detailed financial reporting is required.
· In some cases, depending on revenue thresholds, clubs may also need to provide reviewed or audited financial statements prepared by an independent CPA.
Helpful Tips for Treasurers
· Start early to avoid last-minute stress.
· Keep digital and hard copies of all filings.
· Verify your club’s Employer Identification Number (EIN) and registration numbers.
· Coordinate with your club president and board to ensure accuracy and approval of reports.
By staying proactive and organized, treasurers play a vital role in preserving the integrity and good standing of our clubs. Thank you for your dedication and attention to these important responsibilities.
If you have questions, please reach out to your District Treasurer or State Finance Chairman for guidance. The SGVD Financial Team is here to support you!