CAAS Conducts Workshops for Not-for-Profits Facing New IRS Filing Requirement

A new Internal Revenue Service requirement means virtually all not-for-profit organizations, no matter how small, are now required to file an annual information return, Form 990-N. This means a calendar-year organization’s 2007 return was due May 15, 2008.

As a public service, volunteer CPAs from the Connecticut Society of CPAs and Community Accounting Aid and Services, Inc. (CAAS) conducted three free “drop-in” clinics where representatives of not-for-profits obtained assistance with this new filing requirement. The CPAs advised and assisted in the preparation of Form 990-N and submitting it online.

The walk-in clinics took place simultaneously on May 9, 2008 from 1:00 p.m. to 4:30 p.m. at the Hartford Public Library, the New Haven Free Public Library, and the Ferguson Library in Stamford. All told, approximately 30 organizations received assistance.

“The primary mover from CAAS was Adam Cohen,” according to CAAS Executive Director Jack Collins. “Without Adam’s efforts, the project would not have happened, as he was instrumental in working with CSCPA Public Affairs Director Mark Zampino to get the word out on the clinics,” he noted.

“Prior to 2007, public charities with $25,000 or less in gross receipts were not required to file an annual Form 990 or 990EZ, although many filed vountarily,“ explained CSCPA member Adam Cohen. “Churches and certain church-affiliated entities are still exempt from the annual filing requirement. An organization with annual gross receipts are normally $25,000 or less may file the new Form 990N, if it does not file Form 990 or Form 990EZ,” Mr. Cohen added.

“We also received assistance from Priya Morganstern of the Pro Bono Partnership in coordinating the library sites,” Mr. Collins added. “Our volunteers included Bryne Botticelli from Robert E. King & Co. P.C., CPA; Susan Lamar of Susan S. Lamar, CPA; Ed Pikaart of Pikaart, Visconti & Associates, P.C.; Tony Santore and Rosemary McGovern from Beers, Hammerman & Co., P.C.; Mike Hanlon of Nishball, Carp, Niedermeier, Pacowta & Co.; Ruth McGoldrick from McGoldrick & McGoldrick, CPAs; William Dylewsky of Dylewsky, Goldberg, Munns & Dobbins, P.C.; Kristen Devnew of Haggett Longobardi, a Division of J.H. Cohn LLP, and Zvonimir Jukic and Thomas Fleming from O’Connor, Davies, Munns & Dobbins, P.C.”

CAAS and the CSCPA thank these and all the many other volunteers who help Connecticut’s CPA profession meet its commitment to community service.