The information contained in this guide provides a handy reminder of what needs to be filed for your organization, both as you are just starting up and on an annual basis once you are up and running. However, you should always check to make sure you are using the most up to date forms and know the current filing requirements, as regulations can change.

The River Alliance of Wisconsin asked river and watershed groups to share accounting and financial reporting questions. This document provides responses, prepared by a CPA, for these four issues:

• Reporting income tax for WI Nonstock Corporations that are not tax-exempt
• Operating as tax-exempt without filing a federal application
• Accepting contributions while your tax-exempt status is pending
• Reporting raffle income

Drafting your organization’s bylaws is a very important step in creating a successful river or watershed group. When writing bylaws, you will be forced to consider your organization’s mission and purpose. You’ll also decide important elements of how your group will be organized, led, and run. Your bylaws are the rule book of your organization. They give your organization structure, help prevent potential conflicts, and protect against the misuse of funds.

An active, well-informed, well-trained Board of Directors is absolutely essential to the success of an organization. Board members have accepted the responsibility for building and managing an organization, and this requires skill, good will, patience and commitment. Most board directors willingly make this tremendous investment expecting that, in exchange, they will have a rewarding experience and gain back respect, recognition for their efforts and opportunities to build relationships. As you read the following tips, remember that there is no single model of board size, or composition, and no framework that works for all organizations all the time. Although Board members and their responsibilities are fundamentally the same for all organizations, how they fulfill these will vary.