Tax Exempt Organizations

I thought this might be of interest for those of you with tax exempt organizations. There have been some significant changes to the Form 990. If you haven't looked into the changes I would recommend doing that sooner rather than later. It may take longer to prepare the return this year. The IRS posted a list of FAQs (updated 4/5/10) to www.irs.gov/charities/article/0,,id=96581,00.html on the annual reporting requirements for exempt organizations. The applicable return (Form 990 or Form 990-EZ, the short form return) is due on the 15th day of the 5th month after the end of the organization's tax year. This is May 15th for calendar year organizations. Organizations with gross receipts and assets below certain thresholds at the end of their tax year can file Form 990-EZ. In addition, certain church-affiliated organizations and governmental organizations are not required to file an annual return. Organizations whose annual gross receipts are normally less than $25,000 are not required to file an annual return, but may be required to file an annual electronic notice (e-Postcard).

National Association of Women in Construction (NAWIC)

Linda Martins (an Audit Manager here at TY) and I have become members of the National Association of Women in Construction (NAWIC). NAWIC offers a great support system for women who are in the construction industry. Through NAWIC, we have increased our knowledge of the industry by networking with other members employed in the construction industry. It has also enabled us to broaden valuable contacts for our firm and build lasting relationships. The NAWIC meetings are always educational and related to the construction industry. NAWIC Background: NAWIC is a professional Association comprised of women working in construction and related industries. It was established in 1955 by 16 founding members. Today, approximately 5,800 women in approximately 170 chapters across the United States are NAWIC members. Members of the Association are business owners/managers, executives, subcontractors, accountants and estimators. Members are also employed in construction trades, including welding, carpentry, plumbing and electrical work. You can visit the NAWIC website, www.nawic.org, for more detailed information. If you are interested in learning more about our personal experiences and how you can benefit from NAWIC please contact us and we will be happy to answer any questions you may have. Linda Martins - LMartins@ty-llp.com Lisa Silva - LSilva@ty-llp.com We would like to invite you to our next meeting so you can see for yourself how beneficial and supportive this group is for women. Our next meeting will be on Thursday, January 21, 2010 in San Ramon at 5:30pm. If you are interested in attending, or know someone who is, please let us know so we can provide you with more information.