Timing for Filing
Greekbill provides an easy way for your chapter to file their 990 form chapter taxes. After you submit your information, greekbill’s partnered nonprofit-focused CPA will review the forms you submit and complete the filing with the IRS.
Filing your taxes 3 months after your fiscal year ends is recommended. This means that if your chapter’s fiscal year ends in December, you would have until March to complete your filing.
If your chapter’s fiscal year ends in June, you would have until September to complete your filing. If you do not know your fiscal year, check the mySigEp Finance Dashboard (mySigEp.org > Dashboards > Finance Dashboard)...
Benefits of Filing with greekbill
- Maintain the chapter’s tax-exempt status
- Takes less than 30 minutes
- We make it easy to know which form to file
- Nonprofit-savvy Certified Public Accountant is available for help
- Filing with greekbill is much cheaper than filing with a regular CPA.
How to Get Started
To access the 990 Tax Assistant, go to the Reporting module, scroll to the bottom group of tiles under the“Accounting” heading to the 990 Tax Assistant tile, and click “Run.”This page will load a list of all the previous fiscal years. Hover over the tax year you are interested in filing and click the “File New” button.
Below is a summary of what each step of the wizard will entail:
Step 1: Qualify
Your reported gross receipts (income from all sources) for the past fiscal year will determine which form you will need to file.
- Gross receipts of less than $50,000 > 990-N
- Gross receipts between $50,000 and $200,000 > 990-EZ
- Gross receipts greater than $200,000 > May need to work with our CPA
Step 2: Set Up
What is the chapter's fiscal year, and approving to use greekbill to file on behalf of the chapter?
Step 3: General Info
Chapter information like the address, EIN, phone number, if you are on CASH or Accrual, what your chapter’s website is, etc.
Step 4: Revenue
Questions about your chapter’s Revenue. You will need to provide the breakdown of what was billed per charge and totals per income account (how much you collected for the various “Sub buckets” of income/chart of accounts).
GB is set up where all charges are registered to a chart of accounts (Chapter Dues, New Member Fees, Rent, Room and Board, ETC)
You will need the Gross Receipts for the last fiscal year (the total of all your dues and fees and any other income you collected in the past year.
Step 5: Expense
Questions about your chapter's Expenses. You will need to provide the breakdown of what was spent per charge and totals per expense account (how much you spent for the various “Sub buckets” of Expenses/chart of accounts).
Step 6: Document
You will be asked to provide what you can but the three that are ideal are Bank Statements, Profit & Loss Reports, and Balance Sheets. With the exception of your chapter's bank statement, you can locate these under the reporting section of greekbill.
Step 7: Officers
All your current officers’ information.
Step 8: Fundraisers
Break down all fundraising your chapter did. If applicable, a brief overview of any events you held (what it was, what was it for, how much did you raise).
Step 9: Contributions
Breakdown of contributions your chapter made (what did you give out, where you gave it out)
Note: You can always save the questionnaire for later if you don’t have all of this information when you start.
Step 10: Review
This is a review of all the previous steps to make sure all the information is correct.