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ANNUAL REPORTS DUE ON SEPTEMBER 1Chapter sponsors have probably received their annual report forms in the mail by now. It is very important that every sponsor fill out the form and return it to headquarters. The annual report form is on our Web site (www.pigammamu.org/chapter-reporting.html). If you would prefer to submit your report electronically, you have the opportunity to use that option. The deadline is September 1 to have the report back at headquarters. Because of the new IRS tax laws, we require information from every chapter regarding its yearly income. Part of the annual report asks whether your chapter made more than $5,000 during the previous fiscal year. We must have this information from each chapter, so please fill out the report and get it back to headquarters. Please note: Only if a chapter submits this form will the headquarters staff be able to satisfy the chapter’s IRS reporting requirement. If a chapter does not submit this form and we do not report for the chapter on our IRS Form 990 return, the chapter is likely to lose its tax-exempt status! Incidentally, this threat has proved to not be an idle one. The IRS has already begun to strip numerous nonprofit organizations of their tax-exempt status, pursuant to the mandate that Congress gave it in the Pension Protection Act of 2006. Therefore, it behooves all chapter officers to be proactive in making sure that their chapter’s annual report is submitted in a timely manner. If you would like to see your chapter’s activities recognized in the Pi Gamma Mu Newsletter, you must send in your annual report and tell us what your chapter has been doing this past year. Even better, send us pictures to put in the Newsletter to accompany the activities you sponsored (they can be sent in an e-mail to headquarters). You need to brag about your students and what they are doing.
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