How to wrap up your year as treasurer

Tasks for a treasurer to do to finish the year

It’s near the end of the year for many homeschool nonprofit organizations.

Here’s a list of tasks for a treasurer to do to finish the year:

  • Enter all transactions and check to ensure that your bank reconciliations are up-to-date for the entire year.
  • Fill out the IRS 990/990EZ or 990N if required. As the Treasurer, you are the most appropriate person to fill out this annual IRS form.
  • Give a year end summary to your board. My free webinar Financial Reports for Homeschool Nonprofits will show you good, bad and ugly financial reports.
  • Make a list of any items that you or the next treasurer needs to address that might be out of the norm like outstanding checks.
  • Change authorized banking signatures, if needed. Change names on state registrations and the IRS EIN too. How to change responsible party name on EIN.
  • Put together a list of important deadlines like insurance renewal, Form 990 dues date, state registration deadlines, etc. If you are the next year’s treasurer, put these dates on your calendar.
  • Review the next year’s budget with the incoming treasurer. Don’t have a budget? This should help How do I create a budget for my homeschool group?
  • Train the incoming treasurer. My Board Manual  can serve as a board training guide.

My book Money Management in a Homeschool Organization is a guide for treasurers of homeschool organizations. If you don’t have a copy, buy one today. Maybe you’ll say like Mara, a homeschool treasurer in Washington did, “I was also pleased to learn that we are doing many things right!”


Carol Topp, CPA

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