LMCP_Lodge Finance

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INTRODUCTION:

Why you’re taking this course

Course outcomes

In this course, you will learn how to:

• Understand and optimize a lodge’s income and properly record expenses. • Create a lodge budget that supports shared priorities well into the future. • Identify and understand the basic provisions and resources of prudent investing. • Follow all of the various state, federal, lodge and Grand Lodge reporting requirements, and learn about tools to improve the reporting process. • Improve lodge transparency and oversight through best practices for financial reporting and audits.

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This course supports the “strong lodges and halls” priority of the current fraternity plan.

RESOURCE: Lodge Health Check

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TABLE OF CONTENTS

CHAPTER 1: FISCAL YEAR AND BUDGET Fiscal Year Budget Budget Timeline

CHAPTER 2: INCOME Permitted Income Sources Dues Dues Structures

Degree and Affiliation Fees Life Membership Income Investment Income Revenue from the Hall Association Other Income Chapter 3: Expenditures Required and Necessary Expenses Discretionary Expenses Social and Fraternal Expenses Prohibited Expenses Disbursements Revolving Funds

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CHAPTER 4: INVESTMENTS Investment Administration Permitted Investments

CHAPTER 5: FINANCIAL STATEMENTS AND REPORTING

Reporting and Support Annual Financial Report Semi Annual Financial Report Grand Lodge Annual Financial Report Reports Due to the Government Employment Tax Payments and Reports CHAPTER 6: AUDIT Audit Committee Inspectors Review of Books and Records Lodge Audit Guide Hall Association Audit Guide CHAPTER 7: RESOURCES Grand Lodge Financial Services Intacct Grand Lodge Tax Preparation Service Other Resources

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CHAPTER 1

Fiscal Year and Budget

Fiscal Year The fiscal year of a lodge is always January 1 to December 31, regardless of installation dates or other local differences.

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Budget

The lodge budget sets forth all of the income and expense of the lodge for the fiscal year. A lodge must adopt a budget for each fiscal year no later than its January stated meeting for that fiscal year.

Budget Timeline

Ideally, a lodge will have a three or five year financial plan. The executive committee should update this plan annually. The majority of the work on the budget for the next fiscal

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year should be done early in the prior year. This will give time for the income and expense planning to be refined. An early start is also necessary if a lodge needs to increase its dues or fees to fund the budget. The senior warden, or the brother who will serve as master in the next fiscal year, should lead the development of the budget for the next fiscal year. Below is a recommended timeline for the finalization of the lodge budget.

February

Using the annual financial report presented at the February stated meeting, review the actual lodge expenses from the previous year. Adjust the multiyear plan, if necessary.

Discuss with the Master, Secretary, and Treasurer the strategic plan of the lodge to determine the financial needs for the following fiscal year, as reasonably as possible.

Review the secretary’s annual report from the February stated meeting and estimate the lodge membership

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numbers, including the estimated number of life memberships and members with remitted dues.

Ask the investment committee or the trustees responsible for the lodge investment to project the available distribution from the lodge investments, if any.

If the lodge receives a dividend from the hall association, ask the hall association to project the dividend for the following year. Review lodge standing policies regarding the reserving of dividends for future maintenance or expansion of the hall or for general lodge purposes.

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May

Create and discuss a first draft of the budget without including lodge dues. Incorporate prior year results, data and other considerations from the secretary’s annual report, the investment committee and any other source of identifying revenue or expenses. Incorporate your planned program of events. Review degree fees for relevance and appropriateness. (Note: The Member Experience LMCP course covers program planning in greater depth.) Complete exercise to determine the minimum fixed fee of dues necessary to fund the budget. (See Chapter 7: Resources). Create and discuss a second draft of the budget. Update membership information and any other changes to the data collected above, including the investment distribution and hall transfer. Determine if an increase in dues or fees is necessary to fund the budget. (Note: LMCP Course on Lodge Administration provides instruction in the process required to change the dues or fees.) July

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August to October

Amend the lodge dues and fees, if necessary.

November to December

Make final adjustments. Include the per capita approved at the most recent Annual Communication. Include any dues or fee change approved by the lodge.

January

Present the budget at the stated meeting. The master should entertain a motion to adopt the budget. NOTE: A lodge may adopt the budget for the fiscal year earlier than the January stated meeting, but not later. For example, if the budget is finalized before the December stated meeting, the lodge may adopt it then.

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CHAPTER 2

Income

Permitted Income Sources

As a fraternal association, the primary source of income to a lodge should come from its members. Dues and fees should pay for the fraternal operations of a lodge. Lodges that have operated for a long time likely own a Masonic hall through its membership in a hall association. Older

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lodges might also have accumulated surplus funds and maintain them in an investment portfolio. Income from a hall or investments can defray the costs of current operations. Often times, these assets were accumulated from earlier members of the lodge or another lodge through consolidation.

According to the California Masonic Code (CMC), a lodge may receive financial support from the following sources.

• Dues • Degree and affiliation fees • Life membership income • Investment income

• Revenue from a hall association • Contributions from its members

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In addition, a lodge may hold periodic activities to support its fraternal activities to which tickets are sold to Masons and their family and friends. Tickets to such activities may not be sold to the general public. A lodge may hold an activity to support its charitable activities to which tickets can be sold to the public as well as Masons and their families. There are additional rules in the CMC about the disclosure of the use of funds and how these activities may and may not be advertised. The lodge leadership should become familiar with these rules. A lodge may participate in local community fairs, celebrations, and similar community events by sponsoring, occupying, and operating booths for selling food and non alcoholic beverages. Before a lodge may seek financial support from any other source, including other forms of fundraising, the lodge must first seek and receive the approval of the grand master.

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Dues

Dues are the funds paid by Masons to belong to a lodge. Usually, dues are the primary source of income for a lodge. Lodge dues are stated in the bylaws.

There are three options for a lodge to structure dues.

1. Fixed fee 2. Fixed fee plus per capita * 3. Fixed fee plus per capita * rounded up

Per capita is the amount a lodge pays to Grand Lodge. It is based on total number of Masons (including Entered Apprentice, Fellow Craft, and Master Masons) on the membership rolls of the lodge on June 30, prior to the

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fiscal year in which the funds will be used. Per capita is not paid by members, even if the lodge uses a formula that includes per capita to determine its dues.

Dues Structures

The lodge bylaws offer these options for structuring the lodge dues.

Fixed Fee

A lodge that uses a fixed fee structure for dues would choose the following option in its bylaws:

“The dues of each Mason of this lodge shall be $_____ per annum, payable in advance on the first day of January.” The fixed fee structure is simple. Because per capita is not a factor in this method, the lodge does not need to wait until the per capita is set before it can send dues notices to members. This structure requires the lodge to amend its bylaws to raise the dues, even when per capita increases.

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Fixed Fee Plus Per Capita

A lodge that uses this structure for dues would choose the following option in its bylaws:

“The dues of each Mason of this lodge shall be the sum of $_____ per annum, plus the per capita sum approved by Grand Lodge at the immediately preceding Annual Communication, payable in advance on the first day of January.” This option allows a lodge to determine its own fixed fee, and add per capita without the need to amend the bylaws. Because per capita tends to increase slightly each year, so the dues to the lodge will also tend to increase each year, because the lodge dues are the sum total of the fixed fee plus the per capita. This option can confuse members and lodge leaders by inferring the members are paying per capita directly, which they are not. Some also think the fixed fee only are the lodge dues. This is not correct – the lodge dues are the sum total of the fixed fee plus per capita.

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Since the per capita for the following year is determined at the Annual Communication in October, lodges using this method must wait for the Annual Communication, usually in October, to complete the formula for their dues. If a lodge does not use the per capita amount approved at the most recent Annual Communication, it will likely collect too little from their members. A lodge that uses this structure for dues would choose the following option in its bylaws: “The dues of each Mason of this lodge shall be the sum $_____, plus the per capita sum approved by Grand Lodge at the immediately preceding Annual Communication, with the total thus determined rounded up to the next higher whole multiple of $_____, per annum, payable in advance on the first day of January.” Fixed Fee Plus Per Capita Rounded Up

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This structure is the same as Fixed Fee Plus Per Capita, except that it allows the lodge to round the dues amount up to the nearest dollar amount of their choosing.

Example (the numbers below are for example only):

A lodge has a fixed fee of $100. Per Capita is $57.50. The lodge has chosen this structure and agreed to round up their dues to the nearest $5.00. The lodge dues amount is therefore $160.

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Degree and Affiliation Fees

Fees are the amount paid by applicants for degrees and affiliation, which is separate from dues. Applicants for the degrees of Masonry pay a degree fee, in addition to other fees and contributions. Applicants for affiliation pay an affiliation fee, in addition to other fees and contributions. Degree fees and affiliation fees are considered lodge income. Historically, these fees were substantial and helped to fund lodge operations, endowments, and building funds.

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A lodge sets forth its degree fees and affiliation fees in its bylaws. The lodge may amend these amounts in its bylaws according to the bylaw amendment procedures in the CMC.

Degree fees may not be less than $75.00 for all three degrees. There is no minimum for affiliation fees.

The other administrative fees an applicant for the degrees pays are: • Application fee paid by the lodge to grand lodge annually • Criminal background check fee paid by the lodge to grand lodge annually

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An applicant for the degrees can also make contributions to the following Masonic charities with his application: • Masonic Homes of California • California Masonic Memorial Temple • George Washington National Masonic Memorial The lodge collects these administrative fees and contributions and pays them to Grand Lodge once a year with the per capita.

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Life Membership Income

A lodge can choose to have life membership program or not. A member cannot buy a life membership if his lodge(s) does not have the program. Purchasing a life membership enables a member to provide a legacy to his lodge in perpetuity – and it also relieves him of the need to pay annual dues, helping to ensure he maintains his good standing and eligibility for fraternal support and benefits. A lodge can choose from two different structures to determine the fee for a life membership. The first option is a fixed fee of at least 22 times the dues. The second structure is a sliding schedule based on age. Refer to the CMC for the schedule. A lodge may make withdrawals from the Life Membership Fund. In order to preserve the fund for future years, the maximum annual withdrawal is limited to 4.0% of the average fund balance during the most recent three fiscal years.

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If the Life Membership program was created in the prior calendar year, the maximum withdrawal is 4.0% of the fund balance on December 31 of that year.

If the Life Membership program was created in the current year, no withdrawal may be made during the calendar year.

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Investment Income

A lodge may determine how much to withdraw from its other investments on an annual basis. The best practice is to withdraw no more than 4.0% of the five-year average fund balance. Regular withdrawals greater than 4.0% will likely result in spending down the investments, which could be problematic in the future.

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The lodge Investment Policy Statement, which guides the trustees or investment committee, should state the withdrawal policy.

Lodge investments are covered in detail in Chapter 4 .

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Revenue from the Hall Association

The Internal Revenue Service and the CMC requires a hall association to annually turn over to the lodge (or owners) all of its revenue less expenses, retaining three months operating expenses. The lodge must decide what to do with funds when received. The decision should be made at a stated meeting after consultation with the hall association. A lodge may have a standing policy governing the use of hall dividends. If not, normally, a lodge will set aside the funds for the

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future repair, maintenance, and improvement of the hall. For example, the roof will one day need to be replaced and other capital improvements will be needed. If building reserves are sufficient, a lodge may choose to use the funds, or some of the funds, for lodge use. It’s important for these funds to be properly accounted for so it is clear which funds are for the building preservation and which funds are available for lodge use. A lodge must have a signed agreement with the hall describing what the hall must distribute in the form of a dividend each year and the amounts a hall may withhold from the annual dividend for normal operations. The CMC allows up to three months of operating expenses to be withheld from the annual dividend to the lodge. If a lodge does not have a current agreement on file outlining the terms and duration of the agreement, the hall will automatically lose its Federal Tax Exemption if the IRS inquires during an audit. The use of a standing resolution by the lodge will satisfy this requirement.

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A template for a standing resolution is available from Grand Lodge. Hold backs can be for other reasons such as expansion or deferred maintenance. A separate agreement must be prepared for these special purposes.

The LMCP course on Hall Association Management provides more details about this subject.

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Other Income

Other lodge revenue includes gifts and bequest from members, and donations for the purchase of supplies and events.

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CHAPTER 3

Expenditures

The CMC defines three categories of lodge expenses:

• Required and necessary • Discretionary • Social and fraternal

The lodge chart of accounts is based on these three expense types. Understanding them is important.

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Required and Necessary Expenses

As the name applies, these expenses are required by the CMC. The expenses in this category include:

• Fees owed to the government • Per capita and other fees owed to Grand Lodge • Relief to Master Masons, wives, widows, and orphans dispensed by the Charity Committee • Necessary funeral and burial expenses for a Mason

Discretionary Expenses

Discretionary expenses include essential operating costs defined by the CMC and detailed on the lodge financial reporting form.

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Allowable discretionary expenses include:

• Expenses of its officers or representatives to attend the annual or a special communication of Grand Lodge • A testimonial and/or life membership for the retiring master • Compensation for the secretary, assistant secretary, tiler, and/or organist • Books and maintenance of a library for the use of the Masons of the lodge • A trowel for presentation to a candidate in the Master Mason degree

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• A nominal contribution in honor of the grand master to the Masonic Homes Endowment Fund, the California Masonic Foundation, the California Masonic Memorial Temple, or the Masonic youth orders

• A scholarship program to award financial aid to worthy students

• Annual dues for membership in a secretary’s associations and the reasonable expenses of that association, including the cost of the meals for lodge officers attending the meetings • Funds for community improvement, charitable activity, or sponsorship of programs that will benefit residents of the community in which the lodge is located • Clothing or other needed items for use by a member who is living at the Masonic Homes of California • A reasonable contribution to a constituent lodge or Masonic hall association in this jurisdiction that has suffered damage or loss as a result of a natural catastrophe

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Social and Fraternal Expenses

Social and fraternal expenses are those costs incurred by a lodge to socialize with their members and support the community.

To ensure a balance between the social aspect of lodge and its commitment to fraternal operations and Masonic charitable activities, no more than 30 percent of lodge ordinary income can be spent annually on net social and fraternal expenses.

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Expenses not subject to the 30 percent limitation include:

1. Pass through costs for fraternal and charitable events. The net expense, meaning the total expense after all revenue, if any, is collected, is the amount subject to the limitation. 2. The cost of activities benefiting the residents of the community in which the lodge is located. At the discretion of the lodge, any portion of the annual 30 percent limitation not spent in one year may be carried forward to future years until spent.

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Prohibited Expenses

According to the CMC, a lodge may not expend lodge funds for alcoholic beverages. It may not divide its monies, property, or other assets with its members, even those withdrawing to form a new lodge or with the new lodge thus formed. A lodge may not divide its funds with an existing lodge by way of a contribution. A lodge may not purchase a life membership for a member, other than to purchase a life membership for its retiring master. A lodge may not use any of its funds to subsidize, directly or indirectly, any organization except Masonic youth orders or as otherwise provided in the CMC.

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Disbursements

Lodge funds may not be expended without the express consent of the lodge, even when the expense is included in the lodge budget. The only exceptions are:

• Funds dispensed by the Charity Committee • Fees due to Grand Lodge • Government mandated fees, such as taxes • Return of dues at death or demit

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Lodges may only approve bills that are supported by proper documentation, such as an invoice or receipt. No check or warrant may be drawn unless there are sufficient funds to honor it. Any expense the lodge plans to pay must have an order signed and countersigned by the secretary and be specifically voted upon and approved at a stated meeting before the payment is made.

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Revolving Funds

Revolving funds are a means to provide funds to a lodge officer in advance, and for specific purposes. A lodge may establish two revolving funds. Each revolving fund may be replenished monthly upon presentation of receipts or vouchers, and remains subject to provisions of the CMC.

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Refreshment Fund

Consisting of not more than $500, a lodge may establish a refreshment fund for the use of its stewards or junior warden, as the master may determine, to provide complimentary refreshments to lodge members and guests without any change being made for the refreshments. This fund is not intended to advance money for dinners or other lodge events. It is for complimentary refreshments only.

Secretary Fund

Consisting of not more than $500, a revolving fund may be established for the use by the secretary to purchase incidental supplies and other expenses. The fund is not to be used to compensate the secretary or to purchase equipment or other supplies that are not incidental.

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CHAPTER 4

Investments

Over time, lodges accumulate reserves through operating surpluses, gifts, and consolidation. It is prudent to invest these funds in such a way that they will grow over time and even provide an annual revenue stream to the lodge. There are a number of provision and programs in place to direct and assist lodges with investments.

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Investment Administration

A lodge shall administer its investments through an investment committee appointed by the master or by elected trustees.

In either case, the committee or trustees seek the counsel of a Registered Investment Advisor of its choice before making investment decisions. The committee or trustees may accept or reject any and all recommendations made by the advisor. Alternatively, a lodge may retain a Registered Investment Advisor to operate as an investment manager, thereby delegating the day-to-day investment decisions to the investment manager. A lodge may choose to retain Grand Lodge to manage the investment and administration of lodge investment funds.

No investment committee or trustee administration is required for the lodge’s cash, cash equivalents, checking accounts, savings accounts, or certificates of deposit.

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Investment Committee

The master may appoint an investment committee to administer the lodge investments, if trustees are not elected. If there are elected trustees, an investment committee may still administer other investments of the lodge not included in the trust administered by the trustees.

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Trustees

A lodge may create a trust and elect designated members of the lodge to serve as its trustees – who hold, manage, and distribute those lodges assets delivered to them in trust.

There should be no fewer than three and no more than seven trustees. An odd number is recommended. Each trustee should serve a term of three to five years and the terms must be staggered so that no more than two trustees have a term ending in a given year.

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Lodge Investment Program

The Grand Lodge offers two programs for lodges to support the administration of investments. The first is a program through Fidelity Investments. Program information is on the member center at freemason.org. The program provides the steps needed to create and administer an investment program:

Elect trustees or appoint investment committee

1. Seek a Registered Investment Advisor 2. Establish investment objectives and policy 3. Select a Fidelity fund and deposit funds 4. Monitor performance and report to the lodge

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Grand Lodge Constituent Lodge Trust Fund

Second, the lodge can elect to have Grand Lodge administer lodge investments through the Grand Lodge Constituent Lodge Trust Fund. Grand Lodge provides quarterly reports to the lodge and the investment committee or trustees.

Permitted Investments

The CMC describes the permitted investments for lodge assets, exclusive of Masonic property and life membership funds. This description should be reviewed by and adhered to by the investment committee or trustees.

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Generally, the guidelines permit no less than 20% of the lodge assets to be invested in cash, cash equivalents, and fixed income; while no more than 80% may be invested in growth assets like common stocks, preferred stocks, etc. A lodge may invest its Life Membership Funds with the Grand Lodge Life Membership Investment Program. Lodges in this program will receive quarterly statements from the Grand Lodge. Annual distributions to the lodge are made during the first quarter of each calendar year based on 4% of the three-year market value average of the lodge's principle balance. Lodges do not need to take a distribution if the lodge prefers to re-invest the distribution in the program. A lodge may only invest its Life Membership Fund in cash equivalents, savings accounts, certificates of deposit, investment grade bonds, and conservative growth investments designed for total return.

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CHAPTER 5

Financial Statements and Reporting

In this chapter, we’ll cover the reports that the lodge must submit and share best practices for keeping the lodge informed. Grand Lodge provides a number of services to support lodges, including the Intacct accounting system,

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payroll services and support, tax return services, and tax exempt status renewal and reinstatement services.

Annual Financial Report The treasurer must present an annual financial report to the lodge stating the assets and liabilities and income and expense for the prior fiscal year. This report must be presented at the February stated meeting. Semi-Annual Financial Report The treasurer must present a semi-annual financial report to the lodge stating the assets and liabilities and income and expense for the period of January 1 to June 30. This report must be presented at the August stated meeting of the lodge owner.

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Grand Lodge Annual Financial Report

The treasurer must present an annual financial report to Grand Lodge stating the assets and liabilities and income and expense for the prior fiscal year. This report must be filed by March 15. Lodges using Intacct are not required to submit this report.

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Reports Due to the Government

IRS Form 990 (Return of Organization Exempt from Income Tax) The IRS Form 990 is an information return required from all nonprofit organizations regardless of gross income. The type of form required is based on gross income. The deadline to file the Form 990 is May 15. Lodges that do not file on a timely basis may lose their tax-exempt status, making Lodge income subject to federal income tax.

RESOURCE: IRS Form 990 Filing Thresholds

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California Form 199: Franchise Tax Board (California Exempt Organization Annual Information Return) The California Form 199 is an information return required from all nonprofit organizations in California regardless of gross income. The type of form requires is based on gross income. The deadline to file the Form 199 is May 15. Lodges that do not file on a timely basis may lose their tax exempt status, making hall income subject to California income tax.

RESOURCE: California Franchise Tax Board website

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Employment Tax Payments and Reports

Form 941 (or in special cases, 944) If the lodge pays officers (secretary, assistant secretary, tiler, or organist), the Form 941 reports these wages and the employment taxes, including federal income tax withheld, social security and Medicare taxes withheld, and the hall’s share of social security and Medicare taxes. The reports are due quarterly in April, July, October, and January. In special cases the IRS may approve an annual filing of Form 944, designed for employers with an annual employment tax liability of $1,000 or less, instead of Form 941. Forms DE9/DE9C and DE88 Form DE9/DE9C is California’s equivalent of the federal Form 941, except the detailed withholding for each employee is reported. The form is due quarterly in April, July, October, and January. Form DE88 is a payroll tax deposit form and should be submitted quarterly (at a minimum) with DE9/DE9C. The Grand Lodge Payroll system will help lodges or halls manage these payroll reporting requirements.

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Form 940 Form 940 reports the hall’s annual Federal Unemployment Tax Act (FUTA) tax. The deadline is January 31. The Grand Lodge Payroll Services will file Form 940 for lodges and halls utilizing the Grand Lodge Payroll services. Form W-2 and W-3 Form W-2 reports an employee's annual wages and the amount of taxes withheld from their paycheck. Form W-3 is the “transmittal” form, like a summary, and is filed with the IRS along with copies of all employee W-2s. The deadline to submit both to the IRS is January 31. The deadline to distribute W-2s to employees is January 31. Grand Lodge payroll service will manage these and other forms, if requested to do so by the lodge or hall association.

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CHAPTER 6

Lodge Audit

The books and records of the lodge must be audited every year. The lodge audit committee or qualified CPA chosen by the lodge can conduct the audit. In either case, there is an important role for the audit committee.

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Audit Committee

At the stated meeting following his installation, the Master must appoint an audit committee. The committee usually has three members. Neither the treasurer nor the secretary may be appointed to or serve on the committee. It is recommended that any brother who has signing authority on a financial account be excluded also. The Master should appoint brothers who have experience in the accounting, finance, and investment sectors.

The committee’s duty is to examine all accounts presented against the lodge and the books and records of the treasurer and secretary.

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Audit by the Audit Committee

If the audit committee conducts the audit, it will follow the Lodge Audit Guide available on the Member Center at freemason.org.

The audit committee will request the financial statements, financial account statements, payroll records, government filings, membership records, stated meeting minutes, lodge bylaws for the previous fiscal year along with a randomly selected sample of disbursements and deposits. The Lodge Audit Guide instructs the committee on what to look for in these documents and how to report the findings to the lodge. A similar guide exists for auditing the hall association books and records.

Audit by a CPA

If the lodge chooses to hire a CPA to conduct the audit, the role of the audit committee is to solicit competitive proposals from qualified CPAs and make a CPA recommendation to the lodge based upon the information in the proposals.

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Once the CPA is selected, the audit committee shall see that the CPA receives the Lodge Audit Guide and all of the relevant records and documents. The audit committee will see that the CPA completes the audit within the agreed timeframe and ensures cooperation by all parties. The audit committee reviews the audit when completed and presents it to the lodge.

RESOURCES:

Lodge Audit Guide

Hall Association Audit Guide

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Inspector’s Review of Lodge Books and Records

Annually, the inspector will review the books and records of the lodge. The master should schedule this review directly with the inspector. It is important that the annual lodge financial statements, annual financial report to grand lodge, lodge audit, and lodge tax returns and other required employment filings for the previous fiscal year are completed before the inspector’s review.

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A Guide for the Inspectors Annual Review of Books and Records is available to help the lodge prepare for the inspector’s review.

RESOURCE:

Guide for the Inspectors Annual Review of Books and Records

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CHAPTER 7

Resources

There are a number of resources available for assistance with lodge finance.

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Grand Lodge Financial Services

Contact the Financial Services team at (415) 292-9170 or financialservices@freemason.org for advice and information, and to set up the following services.

Intacct

Intacct is an online bookkeeping, accounting, and financial reporting solution that was developed specifically to help lodges and hall associations save time and stay organized. Its features include:

• Cash management • Accounts payable and receivable • Financial reports • Budgets • Payroll

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Grand Lodge's Financial Services team provides free training for your lodge treasurer to implement Intacct, and is available for ongoing telephone and email support.

RESOURCES: The Leader: Converting to Intacct

Tax preparation

As a nonprofit organization, maintaining your lodge’s tax-exempt status is crucial – but complicated. When you sign up for tax preparation services, Grand Lodge will prepare and help you file lodge taxes on time and accurately, ensuring you keep your tax-exempt status. This service is free for lodges.

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RESOURCES:

The Leader: ABCs of dues

The Leader: Six steps for smarter dues

Long Term Revenue Planning Guide

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Taking the Exam Congratulations! This concludes the instructional portion of the Lodge Finance course. You may now take the exam. When taking the exam, you may refer to any section of this book to aid you.

To begin the exam, click on the link below or visit the LMCP page on freemason.org. Should you have any questions, be sure to reach out to Member Services at memberservices@freemason.org .

Test: Lodge Finance

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