Hi Carol,
Thanks to your wonderful services in the past we have gone from a ministry under a church to an informal non profit support group within the community. Thanks so much for what you do for homeschool groups!
I was just reading through the list of FAQ’s and have one that has a little twist to what is already there about EIN’s so I thought I would run it past you
As the current director (board leader), I had been the person to apply for the EIN for our group. I am nearing my finish on the board and we will have new board leaders. Do we have to have a new EIN issued? I know this current one was opened with my name as the responsible party, so I don’t know if that would “tie” me to the non profit for any thing down the road if I am no longer on the board?
Thanks so much for your help and/or direction.
Blessings,
Shawna B, CA
Shawna,
Thank you for your kind words. It was my pleasure. You do not have to apply for a new EIN just because of a switch in officers. Nonprofits change leadership frequently. You can have your name on the EIN replaced with the new leader by filling out IRS Form 8822-B
If you are a 501c3 tax exempt organization with more than $50,000 in gross revenues annually, you should be filing the annual form 990-EZ or 990 with the IRS. On the form 990-EZ and 990, you list the new officers’ names.
If your organization makes less than $50,000 per year then you should be filing the 990-N, an electronic postcard, with the IRS. The 990-N requests only the name of the “principle officer” not the entire board.
For more information on the 990-N, visit the IRS website.
For more information on running a board, you can see my resource board member manual or my webinar on tax filings for homeschool nonprofits.
Carol Topp, CPA
HomeschoolCPA.com
The post When there is a change of leadership in a homeschool co-op, do we need a new EIN for new officers? appeared first on HomeschoolCPA.com.