New Requirements: House Bill 226

All Trustees of Trust Funds and some Library Trustees are now required to file copies of their investment policies with the Attorney General on an annual basis.

For those public libraries needing to write or to revise their Investment Policy (because they hold the principal of trust funds), there are now some samples available on WebJunction New Hampshire.
Go to http://nh.webjunction.org/do/DisplayContent?id=17414

New Requirements: Small Organization Tax Exempt IRS Filing Requirement

ATTENTION SMALL ORGANIZATIONS!!!!
Don't Throw Away Your Tax-Exempt Status

NOTICE: The form 990N e-postcard is now available on the IRS website.

Beginning in 2008, small tax-exempt organizations (annual revenue of less than $25,000) will have a new Internal Revenue Service filing requirement. It's short, easy and electronic - it's the new e-Postcard.

If you are a tax-exempt organization that normally has annual gross receipts of $25,000 or less and does not have to file Form 990 or 990-EZ, you must file the e-Postcard. The e-Postcard is due by the 15th day of the fifth month after the close of your tax year. So if your organization operates on a calendar year, the e-Postcard is due by May 15 of the following year.

What happens if you don't file? You risk losing your tax-exempt status!

If you think this new filing requirement may apply to your organization, go to www.irs.gov/eo for complete details and while you're there sign up for Exempt Organization's free email newsletter, EO Update, to receive up-to-date information posted on the charity pages of irs.gov.