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 SCHOOL SUPPORT ORGANIZATION ANNUAL CHECKLIST

Review Organizational Structure   

□   Review the organizational structure.  Consider incorporating if the booster club is not already incorporated.  See About Incorporation.

 

□   Has the booster club obtained 501(c)(3) status?  If not, apply to the IRS or join PBUSA to obtain federal tax-exempt status.  See also Federal Tax Exempt Status.

 

□   Apply for state sales tax exemption if needed.

 

Operational Requirements -- Annual

□   Hold annual meeting.  Elect officers. 

□   Develop and have approved annual budget.  See also Booster Club Budgeting 101.

□   File annual report with state (if incorporated and required by state)

□   File tax returns (IRS 990 e-postcard, EZ, or full 990, and state tax returns, if any).  See Filing Your Annual Information Return -- IRS Form 990.

□   Conduct annual financial review or audit (as appropriate based on budget). 

 

Operational Requirements – Monthly

□   Pay bills, making sure all appropriate financial controls are followed.

 

 

Operational Requirements – Ongoing

□   Maintain minutes of all board, committee and other meetings

□   Review program goals

□   Review bylaws/other operational guidelines

□   Review program development including fundraising and special event activities

□   Revise budget to reflect current realities

Risk Management

□   Review insurance coverage and determine if changes need to be made.  Common insurance carried by booster clubs includes Directors & Officers Liability, General Liability, Property Damage, and Bonding.  See also Risks and Insurance.

 

 

 

 

 

JOIN Parent Booster USA today and receive our complete PBUSA Booster Club Operations Guide.  The PBUSA Booster Club Operations Guide includes step-by-step instructions for setting up booster club budgets and financial procedures, including how to conduct an internal financial review, draft articles of incorporation and  bylaws, a sample record retention schedule, and more.


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Copyright (c) 2009 Parent Booster USA, Inc.  All rights reserved.