Job Description
(Approved by the Board on 5/16/24)
Rationale: The Treasurer maintains all financial records for UURMaPA, handles all income and expenses, and reports to the Board monthly on the financial status of the organization. The Treasurer sends memorial gifts for deceased members. For each fiscal year (January-December), the Treasurer prepares an annual Income/Expenses Report and a proposed Budget, in consultation with the Board. They work with the President on any fundraising appeal for contributions from our members. The Treasurer works with the VP to ensure that a periodic financial review is conducted. The Treasurer will periodically submit articles to Elderberries regarding UURMaPA’s financial status.
Expectations: Specific tasks of the Treasurer include the following:
Financial Records: The Treasurer requests authorization from the Board to open accounts in a bank or other financial institutions as needed and is empowered to oversee execution of needed agreements to complete the process.
Income:
- Contributions – UURMaPA’s chief source of revenue is voluntary contributions from members. The Treasurer works with the President to send appeal letters to encourage contributions and sends acknowledgement notes for those funds received.
- Memorial Donations and Bequests – UURMaPA regularly receives donations in memory of deceased members and has at times been notified that the organization is the beneficiary of bequests taken out by members through gifts to the UUA. Memorial gifts are currently placed in the UURMaPA Endowment Fund or other fund as determined by the Board. Large bequests may be allocated to projects as determined by the Board. The Treasurer may be given responsibility for acknowledging any of these gifts on behalf of the Board.
- Endowment Fund – As of 2013, the UURMaPA Endowment Fund was invested in the UUA Common Endowment Fund. The Treasurer was empowered to execute that initial transaction and to make future deposits upon receipt of endowment contributions.
- Grants – UURMaPA may apply for and receive grant funds to support special projects. The Treasurer keeps separate accounting for these grant funds and prepares timely reports as needed.
Expenses:
- Reimbursements – UURMaPA will reimburse expenses incurred on behalf of the organization by Board members and others. The Treasurer should be consulted by anyone planning to incur non-routine expenses. The Treasurer requires receipts and documentation submitted by those requesting reimbursements.
- Memorial gifts – Currently, $50 gifts are sent by the Treasurer upon the death of a member. If a ministerial death, the gift goes to the UUMA Endowment Fund; for a partner death, the $50 goes to a charity of the family’s choice. If there is no designation, the $50 will go to the UUMA Endowment Fund.
Reports: Contributions to UURMaPA are tax deductible. The Treasurer annually files with the IRS the required non-profit corporation forms (including a tax return if UURMaPA annual income should exceed $50,000.) The Treasurer also files an annual report with the Commonwealth of Massachusetts in November. They may file online at https://corp.sec.state.ma.us/corp/loginsystem/login_form.asp?FilingMethod, CID# is: bx3k28 and the PIN is:8958.
Compiled April 2023; minor revisions made May 2024 – Richard Speck, Treasurer