Risk & Compliance
Kathy Kessler, Chairman
Sandra Fredrickson, Committee Member
Deanna Meyer, Committee Member
Risk and Compliance Committee is responsible for working with District Presidents on Unit Tax Exempt Status.
The main focus of the Risk and Compliance Committee is to assist District Presidents on Unit Tax Exempt Status. Each Unit has a responsibility for operating as a business.
Treasurers must file IRS Form 990 annually to retain status. If your fiscal year ends June 30, your filing due date is November 15. If your fiscal year ends September 30, due date is February 15. If your fiscal year ends December 31, your federal filing due date is May 15.
It is strongly recommended that ALA entities have written policies and procedures that document the organization’s review process for their annual returns. Although a 990-review policy is not legally required, having one written reflects good management practices and good governance of the organization.
Consequences of losing your federal tax-exemption may include:
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Your ALA entity is no longer exempt from Federal income tax.
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You do not have the ability to receive tax-deductible donations.
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You cannot participate in Poppy distribution or have fundraisers.
ALA entities may contact the IRS Exempt Organization Division at (877) 829-5500 to check exemption status. This IRS group is specially trained in tax-exempt issues and may be able to help answer questions and give direction for ALA entities that have had their tax-exempt status revoked by the IRS.
For more information visit www.ALAforVeterans.org and www.IRS.gov for resources, updates and more information or contact the ALA at: compliance@ALAforVeterans.org
