Per Diem Policy For any expenses of BPW / TN in the performance of duties other than interim board and / or state convention, and expenses not covered by paragraphs on interim board and / or state convention, the following policy is established:
• Room cost for required nights, not to exceed $ 20.00 per night
• Transportation of 20 cents per mileage odometer
• Meals as required up to but not to exceed $ 4.00 for breakfast, $ 6.00 for lunch, and $ 8.50 for dinner, including tips
• Tips for luggage, in and out of hotels, not to exceed $ 5.00
• Tips for materials needed in meeting rooms, etc., shall not exceed $ 10.00 per trip
• Air travel is recommended if less than allowable car mileage
• If travel is by air, taxi fares to and from airports not to exceed $ 20.00, round trip
Expense vouchers for reimbursement should be submitted to the state president on the official form( See Appendix A- Sample Forms) and should follow approved procedures:
• Separate vouchers should be submitted for reimbursement from different accounts. [ e. g. submit one voucher for convention expenses and a separate voucher for officer expenses not related to convention.]
• Requests for reimbursement must be submitted within 30 days of the event
• Documentation must be included with the voucher
• All reimbursement must be approved by the state president before payment * Approval will be granted only if there are sufficient funds in the account to be debited
Federal and StateTax Responsibility Each BPW local organization must file a Form 990 or Form 990N,“ Return of Organization Exempt from Income Tax,” with its local internal revenue service.
If your local organization has not filed a Form 990 or Form 990N, the following steps should be taken:
• File SS-4, Application for Employee Identification Number. This does not indicate tax exempt status, but is for identification only;
• After obtaining your ID number, apply for tax exempt status. Obtain package 1024,“ Application for Recognition of Exemption,” under Section 501( a) from the local Internal Revenue Service office. Your local organization and state bylaws must accompany the completed Form 1024 for IRS to determine exemption status;
• Prepare annual return on Form 990 or Form 990N. Instructions for preparation are on the form itself and additional information is in the local Treasurerʼs Guidelines published each year by BPW / TN and accessible to each local organization.
Additional information can be found at the Internal Revenue Service web site or by calling 1-877-829-5500.
Tennessee State Annual Corporation Report The annual report for Tennessee Corporations, a copy of the state roster, and the required fee($ 20.00) shall be filed within three months of the close of the fiscal year by the registered agent for service of process. The registered agent for service of process will be appointed by the state president and will serve until a successor is appointed. The fee shall be included in the annual budget.
State Treasurer Tax Deadlines and Financial Reports Tax deadlines and Financial Reports are to be submitted by the state treasurer in accordance with all state and federal rules and regulations with emphasis on meeting all deadlines for reporting.
The state treasurer shall provide a final accounting in the form of a balance sheet showing the final disposition of all state funds including all designated funds and savings or Certificates of Deposit at the Interim Board meeting following her term of office.
Retention of Financial Reports and Documents All financial reports and documents are to be retained by the state president until her second successor is installed. Following that date, the reports and documents are to be delivered to the person designated by the Board of Directors to be retained until five years have elapsed. The reports and documents may then be destroyed unless required for any question of tax liability or other special circumstances.
Immediate Past State President Expenses The Immediate Past State President may claim expenses not to exceed $ 250.00 to finalize the business of BPW / TN upon approval of the Executive Committee at the following Interim Board.
46 July 2009