• Incorporate
• Obtain EIN
• Apply for 501(c)(3) status
• Adopt financial controls
• Apply for state tax exemption (sales & income tax, if applicable)
• Register to fundraise with state (if required)

New fiscal year (or school year): operate properly

• Elect officers
• Adopt budget
• Review/amend bylaws
• Review/amend financial controls
• Put federal and state filing due dates on your calendar
• Input new information in myRENOSI fiscal year profile

End of fiscal year (or school year)

• Update all information (officers and financials) in myRENOSI fiscal year profile
• Update contact information with school/school district
• Transfer records/passwords to new officers
  • Parent Booster USA
  • Cloud-based document storage
  • Financial/accounting information
  • Governance documents – articles of incorporation, bylaws, minutes
• Conduct annual financial review
• Update signature cards for all bank accounts

Ongoing operational requirements

• File required reports (know your fiscal year dates)
  • IRS 990-series return (based on fiscal year end)
  • State corporate annual report (if applicable)
  • State sales tax exemption renewal (if applicable)
  • State fundraising registration (if applicable)
• Report to members regularly (budget, programs)
• Ensure all fundraisers support your tax-exempt mission
• Maintain minutes of all board, committee, and other meetings