For Sections with Normal Gross Receipts Over $50,000 How to Classify Cash Receipts and Disbursements for your Return For the tax return, your receipts need to be broken down in a few categories as follows: Line 1 Contributions, gifts, grants, and similar amounts received (include – allocations and SPAG grants received from ASCE ) Line 2 Program service revenue including government fees and contracts – received for your programs) Line 3 Membership dues and assessments (dues you charge your members – – may be collected for you by ASCE ) Line 4 Investment income (interest, dividends and gains or losses on sale of – investments received) Line 8 Other revenue (any other cash receipts not classified above) – These must add up to the total of your cash receipts. That total will show on Line 9. Disbursements are a little more complicated. Your disbursements need to be broken down in two ways for the tax return as follows: (1) For 10 to 16 Line 10 Grants and similar amounts paid – Line 11 Benefits paid to or for members (should be zero) – Line 12 Salaries, other compensation and employee benefits (zero for most), – does not include reimbursed business expenses (e.g., travel) documented by expense receipts Line 13 Professional fees and other payments to independent contractors – Line 14 Occupancy, rent, utilities and maintenance – Line 15 Printing, publications, postage and shipping – Line 16 Other expenses (travel, meetings, supplies, honoraria, other cash – disbursements not covered above) These must add up to the total of your cash disbursements. That total will show on Line 17. (2) For 28 to 31 Program Services – You may have to estimate these if you have not maintained your accounting records this way. Going forward, you should structure your accounting records to capture this information. This is a breakdown of your expenses (cash disbursements) for three major programs (if you have three), for example, continuing education, conferences, newsletter, awards program, technical meetings on local civil engineering issues. This is how much your Section and its related entities spend on each major program activity (as defined) with a description of what the program is. Line 31 is a total for your other program activities. The total of these (Line 32) does not have to equal your total cash disbursements since you have other expenses, such as general administration.
For Sections with Normal Gross Receipts Over $50,000 How to Classify Cash Receipts and Disbursements for your Return For the tax return, your receipts need to be broken down in a few categories as follows: Line 1 – Contributions, gifts, grants, and similar amounts received (include allocations and SPAG grants received from ASCE ) Line 2 – Program service revenue including government fees and contracts received for your programs) Line 3 – Membership dues and assessments (dues you charge your members – may be collected for you by ASCE ) Line 4 – Investment income (interest, dividends and gains or losses on sale of investments received) Line 8 – Other revenue (any other cash receipts not classified above) These must add up to the total of your cash receipts. That total will show on Line 9. Disbursements are a little more complicated. Your disbursements need to be broken down in two ways for the tax return as follows: (1) For 10 to 16 Line 10 – Grants and similar amounts paid Line 11 – Benefits paid to or for members (should be zero) Line 12 – Salaries, other compensation and employee benefits (zero for most), does not include reimbursed business expenses (e.g., travel) documented by expense receipts Line 13 – Professional fees and other payments to independent contractors Line 14 – Occupancy, rent, utilities and maintenance Line 15 – Printing, publications, postage and shipping Line 16 – Other expenses (travel, meetings, supplies, honoraria, other cash disbursements not covered above) These must add up to the total of your cash disbursements. That total will show on Line 17. (2) For 28 to 31 – Program Services You may have to estimate these if you have not maintained your accounting records this way. Going forward, you should structure your accounting records to capture this information. This is a breakdown of your expenses (cash disbursements) for three major programs (if you have three), for example, continuing education, conferences, newsletter, awards program, technical meetings on local civil engineering issues. This is how much your Section and its related entities spend on each major program activity (as defined) with a description of what the program is. Line 31 is a total for your other program activities. The total of these (Line 32) does not have to equal your total cash disbursements since you have other expenses, such as general administration.
Section%20Finance%20Manual%202017.docx