Why the order matters
Every filing a club makes at year-end is built on the same numbers. If the books are not reconciled, the 990-N eligibility check, the Form PC fee tier and the raffle report can all come out differently. Close first, then file.
The checklist below assumes a school-year club with a June 30 year-end. If your year ends December 31, shift everything by six months.
Step 1: close the year
- 1.Collect every receipt, invoice and reimbursement request dated on or before year-end.
- 2.Deposit any cash still held by volunteers, and record the deposit in the right year.
- 3.Reconcile every bank account to the June statement. Include payment apps such as Venmo, Square or PayPal, and record their fees as expenses.
- 4.List outstanding checks and money owed to or by the club at year-end.
- 5.Compare actual results with the budget the members approved, and note large differences.
- 6.Have a second officer who did not keep the books review the reconciliation and sign it.
Step 2: information returns
Two IRS forms trip up clubs because they depend on individual payments during the calendar year, not the club's fiscal year.
- Form 1099-NEC or 1099-MISC: for payments made after 31 December 2025, the general reporting threshold for most 1099-NEC and 1099-MISC payments is $2,000 (adjusted for inflation from 2027). Think of DJs, photographers, referees, clinic coaches and bus companies, and check the IRS instructions for who is excluded.
- Form W-2G for raffle prizes: required when a prize meets the reporting threshold, $2,000 for payments in 2026, and is at least 300 times the ticket price. Withhold 24% when the winnings minus the ticket price are more than $5,000.
- Collect a Form W-9 from contractors, and the winner's taxpayer ID from prize winners, at the time of payment, not months later.
The 1099 and W-2G rules follow the calendar year even when your club's books follow the school year. Keep a running list of contractor payments and large prizes all year.
Step 3: the annual returns
With the books closed, decide which IRS return applies (990-N, 990-EZ or 990) using gross receipts before expenses, and prepare Form PC for the Attorney General. Charities at $25,000 or less in gross support and revenue no longer attach a federal return to Form PC. Above $500,000, the AG requires statements reviewed or audited by an independent CPA; almost no booster club is near that line.
Massachusetts annual compliance calendar (June 30 year-end)
Print this and keep it with the club's permanent records. Dates that fall on a weekend or holiday generally move to the next business day for IRS filings; check each agency's rule.
| When | What | Where it goes | Who it applies to |
|---|---|---|---|
| July | Close and reconcile the year; approve next year's budget | Club records | Every club |
| Within 10 days after each raffle | Lottery return and 5% tax on gross raffle proceeds | State Lottery Commission | Clubs with a raffle permit |
| Within 30 days after the raffle permit expires | Financial report, 2 copies, signed off by the 3 named members and an accountant | Town or city clerk | Clubs with a raffle permit |
| Within 30 days of passing $5,000 in public contributions | Register and apply for a Certificate of Solicitation | Attorney General (Charity Portal) | Groups that relied on the small-group exemption |
| Within 60 days of a change | Form 8822-B for a change in responsible party | IRS | Clubs whose responsible party changed |
| November 1 | Annual report to the Secretary of the Commonwealth | Corporations Division | Incorporated (c.180) clubs only |
| November 15 | Form 990-N, 990-EZ or 990 | IRS | Every exempt club (unless covered by a group return) |
| November 15 | Form PC with fee and any required attachments | Attorney General (Charity Portal) | Registered public charities |
| May 15 (extended) | Form 990-EZ or 990 if Form 8868 was filed; Form PC under the automatic 6-month extension | IRS; Attorney General | Clubs that extended |
| Early in each calendar year | Forms 1099 and W-2G for the prior calendar year's payments, by the dates in the IRS instructions | Recipients and IRS | Clubs that paid contractors or large prizes |
| Every 10 years | ST-2 certificate renews (DOR reissues about 30 days before expiry if nothing changed) | Department of Revenue | Clubs with an ST-2 |
Step 4: close the loop with the board
Present a short year-end report to the members: income and expenses by program, the bank balance, anything owed, and which filings were made and when. Record in the minutes who has the portal logins and where the signed returns are kept.
Then set up next year. Open the new year's budget, start a fresh contractor-payment list, and put every date from the calendar above on the club's shared calendar rather than a personal one.
- Year-end report to members
- Minutes noting filings made
- New budget approved
- Calendar updated for next year
Where we come in
Murphy can close and reconcile the club's books, prepare the 990-series return and Form PC, and list the 1099 and W-2G forms your payments call for. We give you a scope and a price in writing before anything starts.
Figures on this page were checked against the IRS and Massachusetts sources listed alongside on 28 Sep 2026. They change — confirm the current amount before relying on one.
General information for owner-led businesses, not advice for your specific situation. Tax and accounting rules change, and how they apply depends on facts particular to your business. Talk to us — or to another qualified professional — before acting on anything here.
