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Do you know if your club is subject to Unrelated Business Income Tax (UBIT)?
What are your club's filing requirements and deadlines?
Are contributions to your club tax deductible; do you need a club foundation?
District Treasurer Chad Denson has created a video based on the most common questions that come up for clubs and other non-profits.
Club Treasurer Informational Video
by Chad Denson, District Treasurer
There are so many ways to run amok running the financial side of your Rotary club. I wanted to put together a video that describes the basics of starting a non-profit corporation in Arizona, the ongoing compliance required, consequences of falling out of compliance, Unrelated Business Income Tax, and more. Or more appropriately: Non-Profits 101.
I assembled a list of the most common questions I receive around 501(c) type organizations as well as a list of questions I WISH had been asked. I recorded the video on YouTube to make it widely available and usable for multiple types of non-profits so if you're involved with another organization, like so many Rotarians are, this video may be useful to that organization as well. Everything you need to know about starting and running a non-profit on the accounting side. The video is about an hour of your time and is capable of preventing catastrophes in your club. If when you finish you have additional questions, I can be reached at 520-790-2738 or Chad@Tucsoncpa.com
Non-Profits 101: https://youtu.be/IQeU-AQ8RmY