Financial

Financial Reports

Financial reports are not "final" or "official" until they have been presented at the Annual Meeting.

Typical financial reports for an organization like HAS include Cash Flow, Net Worth, and Portfolio Value for the fiscal year. For HAS, this is the calendar year. Fiscal year reports are required by the IRS and presented by the Treasurer at the Annual Meeting in May. All of the reports since 2009 are available here.

In addition, since 2014, mid year reports are available.

And lastly, there are a few 5+ year Cash Flow statements that offer some particular insights as to what HAS does with its money.

All the reports produced from 2009 to 2020 are Quicken based on income and expense categories established with a goal of providing information to help with planning the future. The more common approach is to try to explain the past and keep accountants happy. The process used to create the planning categories is explained in the first two process documents in the Process folder.

The 2000 and 2004 reports were produced by Jim Moore. The 2007 reports were produced by Bill Asteriades. The 2009-2020 reports were produced by Fred Nowak.

Connecticut and IRS taxes

The State now accepts the federal nonprofit status for state purposes. The State no longer issues Tax Exempt Numbers, however, State applications regarding excise and sales taxes must still be completed.

After the State accepts the federal status, the organization must apply for tax exempt status to each town where it owns property. This is obviously very important for HAS.

This Examples folder contains the HAS Connecticut Tax Permits and the IRS 990-N form which it requires to be submitted online every year.