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(for Director use)
Annual Board obligations • determine dates/times and locations of Board meeting, and post on website • determine Board mtg quorum per NM Nonprofit Statute and NMDA Bylaws (“number of current, existing Board Directors” divided by 3, rounded up) • change PO box address and account holders on bank accounts (MyBank checking and CD) • send periodic membership rosters to USDF, after first submittal on Dec 1st of previous year • review potential conflict of interest issues and document in Board mtg minutes • review and purchase insurances (event liability and Directors) by Jan 22 and April 28, respectively • conduct financial checks & balances review (at least quarterly) and document in BoDmtg minutes • post final approved BoDmtg minutes on website • file and pay semi-annual Gross Receipts tax by Jan 25 and July 25 • issue 1099s, if necessary - by Jan 31(to recipients) and Feb 28 to IRS • determine NM Registered Agent and Address of the Association and Directors, and change through NM Secretary of State Office ($10 fee) - by May 15 • file Federal income taxes by May 15 • complete NM Attorney General Office annual registration, complete with financial filing - by June 30 • hold at least one General Membership meeting, and post mtg minutes on website • periodic review of dues and other fees • periodic review of customary and usual expenses • periodic review of Bylaws (last amendments 2016) and Standing Rules (2016)
Committees - can be comprised of Directors and Members, but must have 2 Board Members on each committee; Bylaws state that President is ex officio Member of all committees
Quorums • Board meetings - 4 Board Members; unless changed by Board due to less than full Bylaws-stated Board Membership, then can vote to change to 1/3 of “current, existing Board Members” • Membership meetings - ten Members, including 3 elected Board Members; a fully-executed General Membership proxy can not be counted as part of quorum
Proxy Voting • Board meetings - only available for use on issue(s) where the final Board resolution wording is available before proxy executed • Membership meetings - Member needs to use Board-approved proxy form (on website) and designate whether general or limited proxy
Volunteers - typically must be documented to be covered by insurance; activity manager to keep list
Changes to Important NMDA Legal Documents - any changes in Articles of Incorporation or Bylaws must be reported to the NM Office of the Attorney General (AG) by uploaded the revised documents to the COROS system on the AG website
Important Reference Documents and Statutes • IRS Publication entitled, Compliance Guide for 501(c)(3) Public Charities • IRS Publication 557, Tax-Exempt Status for Your Organization (www.irs.gov/eo) • IRS Publication entitled, Life Cycle of a Public Charity(www.irs.gov/eo) • New Mexico Nonprofit Corporation Act, Chapter 53, Article 8 NMSA 1978 • New Mexico Taxation and Revenue Department, FYI-103, entitled Information for Non-Profit Organizations • New Mexico Taxation and Revenue Department, FYI-105, entitled Gross Receipts& Compensating Taxes: An Overview
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