Chapter Financial Statement (choose one of the following):
- Chapter P&L statement, inclusive of all the categories on the Vibration Institute Financial Statement. Must include chapter name, address and primary contact.
- Completion of the Vibration Institute Financial Statement .
- A copy of the Chapter’s December 2013 bank statement.
Some important information pertaining to filing your annual Chapter tax return:
- The IRS requires each Chapter to file a Form 990-N. This form can be accessed and submitted online at http://epostcard.form990.org/. Penalties for not filing this form are severe, and can result in a loss of tax exempt status.
- If your Chapter has a gross income greater than $50,000 for 2013, you will need to also file a Form 990-EZ with the IRS. This form can be found online at http://www.irs.gov/uac/About-Form-990EZ.
- Per the IRS regulations, each Chapter is permitted one trade show or advertising promotion per year. If you have exceeded this limit, your Chapter will have to file an unrelated business income tax form and pay the appropriate taxes on the net income.
Annual Financial Statements
The Vibration Institute follows Generally Accepted Accounting Practices (GAAP) and completes an annual financial audit in conjunction with our accounting and auditing firm of record, Wolf & Company. The Vibration Institute’s IRS 990 and 1023 forms are available upon written request.
If you have questions, please contact the Institute ator (630) 654-2254.