Why handovers go wrong
Booster club treasurers rotate with their children's graduation years. The outgoing treasurer usually leaves in good faith with half the knowledge in their head: which parent still owes for the trip, which login the 990-N was filed from, why there is a $300 check that never cleared. The new treasurer inherits the job without the context.
Most IRS and Massachusetts problems small clubs face trace back to one of these handovers: a missed 990-N, a lapsed Form PC, a raffle report nobody knew about.
Treasurer handover checklist: the books
- Bank reconciliations for every account through the handover date
- Payment-app (Venmo, Square, PayPal) reconciliations and ownership details
- The ledger or spreadsheet, with a note on the categories used
- Current year budget and year-to-date comparison
- List of outstanding checks, unpaid bills and money owed to the club
- Any money held for a specific purpose, with the amounts
- The contractor-payment list for 1099s and any raffle prize W-2G records for the calendar year
- Cash boxes, starting banks and count sheets
Treasurer handover checklist: access and records
- Bank signers updated and online banking access transferred
- Charity Portal access for the new treasurer (accounts are per person)
- Who submits the 990-N, and through which Login.gov or ID.me account
- Whether Form 8822-B is needed (responsible party changed; due within 60 days)
- IRS determination letter, EIN confirmation and any IRS letters
- AG account number, prior Form PC filings and the Certificate of Solicitation
- Form ST-2 and the list of vendors holding a blanket ST-5
- Raffle permit, named members, lottery returns and clerk reports
- Bylaws, minutes and the officer list; for incorporated clubs, the c.180 annual reports
- Prior 990-series returns (at least the last three years)
If the outgoing treasurer cannot find one of these, write that down too. A known gap can be fixed; an unknown one becomes next year's surprise.
The annual calendar to hand over
| Date | Filing |
|---|---|
| Within 10 days after each raffle | Lottery return and 5% of gross proceeds |
| Within 30 days after the raffle permit expires | Signed report to the town clerk (2 copies) |
| November 1 | c.180 annual report (incorporated clubs only) |
| November 15 | IRS 990-N, 990-EZ or 990 |
| November 15 | Massachusetts Form PC (automatic 6-month extension if in compliance) |
| Early each calendar year | 1099s and W-2Gs for the prior calendar year, per IRS instructions |
Handover meeting agenda
- 1.Walk through the latest reconciliation and the open-items list together.
- 2.Go to the bank, or complete the online process, to change signers.
- 3.Log in together to the Charity Portal, the bank and each payment app.
- 4.Review the calendar and agree who files what this year.
- 5.Record the handover in the board minutes, including what was missing.
What our handover package includes
If the club would rather not do this alone, Murphy can assemble the package: reconcile the books to the handover date, prepare an open-items list, build the compliance calendar for your fiscal year, and list every account and credential the club holds (without storing passwords). The new treasurer gets one folder and a walk-through. 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.
