[Noisebridge-board] RRF-1 and Form 990 update; october - december gross receipts < $37.5K ?

Mitch Altman maltman23 at hotmail.com
Wed Apr 8 01:00:56 PDT 2009


Our gross receipts in cash and checks (not including in-kind donations) for=
 2008 was $21,806.52.  This includes donations ($12,852.52), dues ($8.458.0=
0), and beverage payments ($496.00).  So, we get to do the 990-N.  Yay!

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Mitch.

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> Date: Tue, 7 Apr 2009 16:14:21 -0700
> From: dmolnar at eecs.berkeley.edu
> To: board at lists.noisebridge.net
> Subject: [Noisebridge-board] RRF-1 and Form 990 update; october - decembe=
r gross receipts < $37.5K ?
> =

> hi all,
> =

> I've taken a first pass over the RRF-1 form and the 990 Form. First, the
> bad news: I read again and they are due 4 and a half months from the
> close of our fiscal year. That's 15 April, which is coming up soon.
> I screwed up earlier when I said they were due 15 May.
> =

> The good news is that RRF-1 is a very simple form. The form just asks
> for our gross revenue in the 2008 fiscal year, total assets, and asks
> for more information if we do any of a list of things. We did not do any
> of those things. Therefore I will jut fill in the
> =

> For Form 990, this is a nonprofit organization's tax return. It looks
> like we qualify this year for the "postcard" version, form 990-N. This
> would be beneficial because we can file it by web site. The alternative
> is the Form 990-EZ, which is a more involved tax return. I have taken a
> pass over the 990-EZ just in case, but if we can avoid filing it we shoul=
d.
> =

> The requirement for using 990-N is that we have $25K of gross receipts
> in our first tax year -- for us that is the period October 2008 to
> December 2008. According to
> http://www.irs.gov/charities/article/0,,id=3D177338,00.html :
> =

> "An organization's gross receipts are considered to be $25,000 or less
> if has been in existence for 1 year or less and received, or donors have
> pledged to give, $37,500 or less during the organization's first tax year.
> =

> Mitch, do you happen to know off the top of your head what our gross
> receipts were for October to December 2008? If it's less than $37.5K,
> then I will go ahead and do the e-file, then mail off the RRF-1.
> =

> If we fail to qualify for the 990-N, then we should talk about whether
> to file the 990-EZ now or whether to apply for an extension and engage
> an accountant. Thankfully we get a free automatic 3-month extension just
> by asking.
> =

> I'm heading to Noisebridge soon to work on these, and I will be at the
> meeting tonight.
> =

> -David Molnar
> =

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