Psi Chi Digest #164
990-N Authorization Due
Faculty Advisor Research Grant Applications Due
Annual Report Due
Financial Report Due
WEB SPOTLIGHT: 990-N Authorization
The IRS code changed recently requiring all non-profit organizations to file a tax return regardless of the amount of income or revenues received. Psi Chi’s accountants prepared an authorization form that will allow the Psi Chi Central Office to file a 990-N on behalf of each chapter. As long as someone from the chapter completes this form, your chapter will not need to file the 990-N because the Central Office will be authorized to file on your behalf. This form can be found at http://www.psichi.org/pdf/990NAuthorization.pdf and should be submitted to the Central Office by May 31.
Chapters can find their EIN and/or charter number by logging into the Psi Chi website as the chapter administrator or by emailing firstname.lastname@example.org.
Chapters that choose not to file this authorization form will be required to file a tax return with the IRS themselves.
The Psi Chi Central Office will introduce new international versions of the graduation regalia this summer beginning July 1. In order to facilitate this process, the Psi Chi Central Office is taking the following steps to prepare:
• Selling the current merchandise on hand
Psi Chi will not be reordering any national graduation regalia. This means as the spring progresses, we may run out of certain items. Please purchase your materials early to ensure receipt.
• Marking down prices on regalia
The Psi Chi Central Office has begun lowering the prices on some graduation regalia. Markdowns will occur periodically over the next month so that the inventory on hand can be liquidated by the end of the fiscal year. Refunds cannot be issued to chapters or students who purchase items at a higher price.
For all the latest news, visit Psi Chi's website at www.psichi.org
This message is the 164th in a series of email news digests from the Psi Chi Central Office. Psi Chi sends this digest to all chapters and those members who choose to subscribe. Chapter officers and advisors should share relevant news with their chapter's members. Contact Psi Chi as follows:
REGULAR MAIL: Psi Chi Central Office; PO Box 709; Chattanooga, TN 37401-0709
STREET ADDRESS: 825 Vine Street; Chattanooga, TN 37403
PH (423) 756-2044 | FX (877) 774-2443 | EM email@example.com| www.psichi.org