Budgeting:
The following resources will assist your chapter in their yearly budgeting process.
Chapter Escrow:
Chapter Escrow contains all chapter payments receive for new and renewing membership for your chapter. These moneys are distributed through our new re:Members/Billhighway system. Find out more information about this platform here.
Chapter Federal Taxes 990:
All of ARMA's chapters run on the same fiscal year July 1 - June 30. Each year all US chapters will need to report to the IRS as an exempt organization. Which report your chapter uses depends on how much money you collected during the fiscal year. Between July 1, 2024 thru June 30, 2025 if your chapter brought in less than $49,999 you will complete the Form 990-N.
Here is a step-by-step guide to lead you through filing for your chapter directly on the IRS website.
To access the IRS Form 990-N.
To access the IRS Form 990-EZ Approve Providers.
This reporting needs to be completed
between July 1st and November 15th each year, covering the financial actives of the previous fiscal year.
Chapter W-9:
A W-9 is something your chapter should have on file. It has the chapter FEIN and should be signed by a chapter officer. If you are not in possession of a a recent copy (recent being within the last 6 months), you can download the form from the IRS website, fill it out and sign it. It is good to have a recent W-9 on file for your chapter's programming efforts as many facilities, vendors and sponsors will require a copy.
Safe Guards/Financial Review Guidelines:
Suggested Safe Guards
- Require two signatures on all checks.
- Require supporting information from your treasurer to support all financial reports. Attach copies of supporting bank statements, etc., that validate the numbers reported.
- Require more than one individual to regularly review bank statements.
- Require more than one individual to have access to online bank and financial information.
- Use extreme caution if your chapter has a credit or debit card. If you do have one, be sure that numbers 2, 3, and 4 above are in place.
- It is encouraged that the chapter due a financial review each year after the close of the fiscal year.
Sample Financial Forms:
These sample forms can be used to guide your chapter's financial practices. Feel free to download these and modify them to fit your chapter's needs.
Discount/Waiver:
You may want to waive or discount the chapter dues for a prospective member's or student's first year to get them on your chapter roster and distribution list. To do this you need to notify HQ by email (ARMAservice@armaintl.org) who these individuals are and that the chapter wants to waive the dues. They will then show up on your next roster and during their renewal process they will be invoiced for both the association and chapter dues.