Year-End Checklist
Posted on Wednesday, November 27, 2019
ShareAs we approach the end of the year, here are a few reminders to be sure your nonprofit addresses to wrap up 2019 and get ready for 2020.
- Send thank you letters to donors for their support. See our previous blog, Contribution Substantiation, for specifics to include in the documentation.
- If not already done, collect information needed for 1099s. See our previous blog, Form 1099-MISC, for items needed.
- Prepare W-2s and other annual payroll returns.
- Remind employees to complete a new W-4 for any changes to their withholdings. See our previous blog, Form W-4, Employees Withholding Allowance Certificate, for changes to the form in 2020.
- Prepare your annual Form 990 or gather information needed to provide to your CPA to prepare the form. Form 990 for organizations with a December 31 year-end are due May 15th. To make sure your organization is filing the correct return, see our previous blog, Nonprofit Federal Filing Basics.
- If not already, done prepare next year’s budget. See our previous blog, The Budgeting Process, on assistance with the process.
- File any reports required by grantors.
- If your Indiana organization receives any funding from the government (federal, state or local), file Form E-1, Entity Annual Report with the State Board of Accounts within 60 days of year-end.
- Contact your auditor to schedule your year-end audit.
Posted by: Carrie Minnich, CPA
Posted in Mission Minded Nonprofits
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