Federal Compliance Requirements for Non-Profit Organizations
IRS Documentation
- Maintain copy and make available upon request IRS Exempt Application (Form 1024) and any support materials filed with or subsequent to Form 1024 itself.
- Maintain copy and make available upon request IRS Determination Letter.
- Maintain record of Federal Employer Identification Number.
IRS Form 990s
- File IRS Form 990 series (due on the 15th day of the 5th month following the end of the organization’s taxable year – May 15).
- Maintain copies of 990 filings for a minimum of seven years.
- Make available upon request 990s for the past three years.
- Maintain all supporting documentation for income and expenses (including canceled checks) for at least seven years to substantiate 990 filing.
State Compliance
Articles of Incorporation
- The articles of incorporation are filed with the Texas Secretary of State.
- A copy of the articles of incorporation are maintained in the office.
- Amendments to articles of incorporation are submitted with Form 990.
- Ensure that the association’s mission and purpose are current and accurate in the articles of incorporation.
Bylaws
- A copy of the most recent bylaws with amendments are maintained in the office.
- Ensure that the bylaws do not conflict with the articles of incorporation or state law.
- The association’s mission and purpose are current and accurate in the bylaws.
- Bylaws amendments are submitted with Form 990.
Registered Agent/Registered Office
- Current information on the registered agent and registered office is filed with the Texas Secretary of State.
Board of Directors
- The number of members of the Board of Directors is in accordance with bylaws or articles of incorporation.
- The number of members of the Board of Directors is at least three.
- The Board of Directors serve terms in accordance with the bylaws or articles of incorporation.
Officers
- The officers of the association are in accordance with the bylaws or articles of incorporation.
- The association has a president and secretary.
- All officers and members of the Board of Directors are elected in accordance with the bylaws or articles of incorporation.
- The list of officers is submitted with Form 990.
Annual Meeting
- An annual meeting of the association is held in accordance with the bylaws or articles of incorporation.
- The annual meeting is documented and retained to show proof of compliance.
Record Retention
- Maintain correct and complete records, books and annual reports of the association’s financial activity for the past three years.
- Articles of incorporation with all amendments.
- Bylaws with all amendments.
- All records are maintained in the office.
Financial Report
- The association prepares an annual financial statement.
Annual Report
- An annual report is filed with the state (if applicable).
Taxes
- Filed state and other taxes (if applicable).