Financial Management and Reporting Resources for Chapters and Councils

Information about TU's New Fiscal Year (April 1 - March 31)
In June 2018, the TU Board of Trustees voted to change TU's fiscal year, including that of all TU chapters and councils, moving the fiscal year to April 1 through March 31. The transition to the new fiscal year for TU's chapters and councils will be supported by national, and this FAQ and Timeline document details what that process looks like and what resources are available. 
TU will file an application for a change of accounting period with the IRS on behalf of the entire exempt group. All chapters and councils will be required to submit a letter to TU authorizing TU to include the chapter or council in the group application by Feb. 15, 2019. Staff will collect the signed copies for all chapters and councils to submit to the IRS. This letter should be signed by each chapter and council and e-mailed to Nick Halle at  
Safeguarding Chapter and Council Assets
This policy sets out several requirements and recommendations to help officers and directors safeguard TU funds and other chapter and council assets.
Use this document to help your chapter or council keep track of all inventories. TU’s Financial and Property Controls Policy requires that all inventory is tracked that is in excess of $200.
This recorded PowerPoint presentation provides information about the TU Financial and Property Controls Policy.
Annual Financial and Chapter Effectiveness Reporting
The following glossary helps define each of these categories and sub-categories and also provides examples of the types of volunteer hours which should be counted in each category.
TU's Chapter Effectiveness Index is a tool chapters and councils can use to measure their progress over time in the areas critical to TU’s mission. The scores are not used to rate, rank or categorize chapters in any way, and are simply a tool to help volunteers in each chapter gauge where they stand, where they have been and set goals for where they would like to be in the future. 
Requirements Dictated by the Limitations of TU’s 501(c)(3)
Written acknowledgment is required to substantiate a charitable contribution of $250 or more. The IRS demands certain, necessary language in donor letters.
Chapters or councils may not endorse or oppose any candidate for public office, must strictly account for the portion of its activities devoted to lobbying, cannot donate money to a non-501(c)(3) organization or a 501(c)(3) organization that does not further TU’s mission, nor can they grant scholarships to individuals. This document details these IRS related restrictions. 
A policy governing conflicts of interests is perhaps the most important policy a chapter or council can adopt. To have the most impact, the policy should be in writing, and the board should review the policy regularly. Keep in mind that the IRS Form 990 asks not only about whether the nonprofit has a written conflict of interest policy, but also about the process that the nonprofit uses to manage conflicts, as well as how the nonprofit determines whether board members have a conflict of interest. 
A sample policy your chapter or council might adopt, which includes a code of ethics. For chapters and councils who employ staff, contact volunteer operations for another version of the policy that is specific to staff. 

Information on Whistleblower Protections for Non-Profits (Webpage)

Sample Document Retention Policy (PDF - 2017)

It is important that each chapter and council implement proper management structures, operational policies, and administrative practices, In the Form 990, the IRS asks about policies such as document retention and destruction, ethics and whistleblower policies, and whether or not your board reviews the 990 before the Form is filed. 

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