Chapter
Summary Report - instructions for using
The Chapter Summary Report, which is updated monthly, compiles the information the chapter leadership board and/or the congregational coordinators enter online so the information can be used for year-end IRS reporting requirements.
It also includes a detailed summary addendum that provides activity
details for each program total on the Chapter Summary Report (activity ID,
activity name, activity date, activity amount provided by Thrivent Financial,
etc.).
This report is available to chapter leaders online in the Chapter Leadership
Administration section under Reports/Listings (click on the drop-down arrow).
Reviewing this report, along with balancing the chapter checkbook, every month
will help ensure that no additional work will be needed from the chapter leadership
board at year-end.
Please read important information about:
Chapter leader responsibilities for reviewing the
report each month
Because the information on the Chapter Summary Report comes from activities
entered online, it is not possible to balance the report with the chapter
checkbook. Rather, the chapter's responsibility (preferably the financial
director) is to carefully review the report sometime during the first week
of every month to make sure the numbers seem reasonable and align with the
activity level of the chapter. For example, if the operational expenses are
$0 even though regular chapter meetings have included refreshments paid for
by the chapter, then those expenses have not been reported in the Manage Chapter Operating Funds screens online.
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Additional chapter leader responsibilities for the
year-end Chapter Summary Report
The year-end Chapter Summary Report, usually available in early January of
the following year, requires additional work:
- Unlike the normal monthly Chapter Summary Reports, the year-end report
includes beginning and year-end balances and a signature page. The
Audit Committee
should verify that the year-end balance matches the balance listed on the
Dec. 31 bank statement for the account, taking into account any checks that
may have been written that were not cashed by Dec. 31.
- The Audit Committee also should compare the year-end Chapter Summary Report
with what has been reported online. (The chapter leadership board should
provide this information.) It may be easiest for the committee to review
the report with a few of the chapter leaders to determine if there are any
concerns or discrepancies.
The
leadership board can print a copy of "Conducting Year-End Audit
of Chapter Finances and Activities" (PDF, 95K) for each audit committee member. This document outlines the steps that need to take place during the audit, and can be found in the Financial Resources section of Tutorials/Quick References in the Volunteer Resources area of Members/Chapters.
- After the review, the Audit Committee chairperson and a current elected
chapter leader must print and sign the signature page and mail to:
Thrivent Financial for Lutherans
Fraternal Services
4321 N. Ballard Rd.
Appleton, WI 54919-0001
The postmark deadline for returning the form is the last working day in
February. This is necessary for Thrivent Financial to complete the IRS
Group 990 form for chapters.
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Resources to help read and understand the Chapter Summary
Report
- A feature called Tips for Using this Page is available within the
report to explain where the numbers on the report came from. If a number
on the report seems wrong, refer to this feature for guidance on where to
go in the Chapter Leadership Administration section to review past online
entries.
- You can get these same tips from a quick-reference guide called Explanation of Chapter Summary Report (PDF, 69K), found in the Financial Resources section of Tutorials/Quick References in the Volunteer Resources area of Members/Chapters.
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Notify us if you receive IRS Form 990 booklets
The IRS may send Form
990 booklets to some of our chapter leaders. If you receive one, please
remove the outside cover from the booklet (this contains the chapter leader’s
address label) and send that page to: Attn: Fraternal Services, Thrivent
Financial for Lutherans, 4321 N. Ballard Rd., Appleton, WI 54919.
If your chapter sent in the authorization page from the previous year's Chapter
Summary Report, Thrivent Financial will include your chapter on its group
990 filing with the IRS for our chapters. If you have not returned the authorization
page, please do so as soon as possible.
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Additional Topics
Audit Committee
Conducting Year-End Audit of Chapter Finances and Activities (PDF, 95K)
Explanation of Chapter Summary Report (PDF, 69K)
Managing and Reporting Chapter Operating Funds (PDF, 302K)
Reporting operating fund expenses
This is proprietary information that is solely for
use by employees, volunteers, and agents of Thrivent Financial for Lutherans
in connection with fraternal activities of Thrivent Financial for Lutherans.