greek letter organizations

Foundations of Excellence for Greek Letter Organizations

Start-up: organize properly
  • Incorporate
  • Obtain an EIN
  • Apply for 501(c)(7) status
  • Adopt bylaws
  • Adopt financial controls
New fiscal year (or school year): operate properly
  • Elect officers
  • Adopt a budget
  • Review/amend bylaws
  • Review/amend financial controls
  • Put federal and state filing due dates on your calendar
  • Update the current Fiscal Year Profile in your RENOSI registration dashboard
End of fiscal year (or school year)
  • Update your fiscal year profile in your RENOSI registration dashboard
  • Update contact information with the College/University
  • Transfer records/passwords to new officers:
    • RENOSI account details
    • Important documents: articles of incorporation, bylaws, minutes, etc. 

      (RENOSI’s cloud storage keeps your documents in one place, year after year)

    • Financial/accounting information
  • Conduct annual financial review
  • Update signature cards for all bank accounts
Ongoing operational requirements
  • File required reports (know your fiscal year dates):
    • IRS 990-series return (based on fiscal year end)
    • State corporate annual report (if applicable) 
  • Report to members regularly (budget, programs)
  • Ensure all fundraisers support your tax-exempt, 501(c)(3) partner
  • Maintain minutes of all board, committee, chapter, and other meetings

RENOSI is the leader in helping national organizations set up and manage affiliate chapters. Setting up local, regional and state affiliate chapters is an excellent way to grow your national organization. Managing hundreds and even thousands of chapters, however, is time-consuming and difficult.

Since its inception, RENOSI has provided a simple and stress-free solution to help obtain and maintain tax-exempt status for over 5,500 nonprofits. With the interactive myRENOSI dashboard, our partners can organize their state and federal registrations, allowing our team of experts to help ensure your tax-exempt status is not revoked.