2023 Tax Preparation Assistance

Posted Mar 23, 2023 | Financial Matters,

Our volunteer accountants aren’t available to prepare tax returns for our pro bono clients until May. Here are some options to consider if you need assistance: STL Tax Counselors at the Salvation Army STL Tax Counselors are preparing tax returns (by appointment only) at the Salvation Army in South...

Recordkeeping Resolutions

Posted Dec 28, 2022 | Financial Matters,

By Sue Greenberg, executive director As we look ahead to a better 2023, here’s a suggestion that will pay off: Take deliberate control of your creative business by making a commitment to recordkeeping. Start with banking. You should have a separate credit card and a separate checking account for...

A More Meaningful Board Treasurer

Posted Mar 22, 2023 | Financial Matters,

By Sue Greenberg, VLAA Executive Director As outlined in most by-laws, the treasurer is the organization’s principal financial officer. The treasurer’s duties may include: making regular financial reports to the board; overseeing the preparation of the annual budget and monitoring its implementation; chairing the finance committee; ensuring that all...

Don’t Make Us Cry

Posted Aug 17, 2022 | Financial Matters,

Not long ago, we heard from yet another small nonprofit art organization that lost its tax-exempt status. Why? No one remembered to file the organization’s IRS 990-N. Also known as the e-Postcard, the form is used by tax-exempt organizations whose annual gross receipts are normally $50,000 or less. The...