Foundation/Local Chapters/United States/Minutes-2014-11-12

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  • Keri
  • Ian
  • Martijn
  • Alex
  • Katie


  • 2011/2012 QuickBooks
    • Keri used older QuickBooks dump to prepare an estimate
    • QuickBooks numbers changed underneath after the estimate
  • How is the 50k limit is calculated? Alex
    • First year in existence and it's under 50k you use a 990N
    • Year one and two of existence need to be under 50k
    • Between one and three years old you have to have averaged 60k or less in the first two tax years
    • Three years or older, if you average 50k or more in gross receipts
    • 2010 was a 990N
    • 2011 was a 990N
    • 2012 gross receipts was below 60k for the two years so we're 990N
    • 2013 we will not be able to file a 990N, it will have to be 990EZ
  • Keri needs a bank reconciliation report. Katie will get that to her.
  • Katie has spent yesterday and today getting access to accounts and will spend time reconciling today
  • Keri needs an e-mail saying that it's ok to proceed beyond the fee estimate