Last updated 2026-07-24
TL;DR
A treasurer tracks every dollar in and out, keeps bank and cash records straight, reports to the board monthly, and files the group's annual IRS return (Form 990-N, 990-EZ, or 990) on time. For most small booster clubs and PTOs, that's a 990-N e-Postcard, due by the 15th day of the 5th month after the fiscal year ends.
What does a treasurer do?
A treasurer is the person legally and practically responsible for a nonprofit's money. That means tracking income (dues, concessions, raffle tickets, sponsorships), tracking expenses (uniforms, equipment, tournament fees), keeping the bank account reconciled, and reporting the numbers to the board on a schedule everyone can count on. It's a bookkeeping job and a compliance job stacked together. The bookkeeping side is spreadsheets, receipts, and bank statements. The compliance side is making sure the organization files what the IRS and the state require, on time, every year, whether or not anyone else on the board is paying attention. Most booster clubs and PTOs are run entirely by volunteers who rotate out every year or two. That turnover is exactly why treasurer duties need to be written down somewhere durable, more than carried in one person's head or inbox. If you're the third treasurer in four years and nobody left you a binder, you're not alone. It's the norm, not the exception.
What is a treasurer, exactly, in a volunteer organization?
In a booster club, PTO, or youth sports league, the treasurer is an elected or appointed board officer, usually named in the bylaws, who has signing authority on the bank account and custody of the financial records. Some states and some bylaws require the treasurer to be bonded (a form of insurance protecting the organization against theft or fraud by that officer). The treasurer is not automatically the group's accountant or lawyer, and shouldn't have to be. Most treasurers are parents, coaches, or volunteers with day jobs in something else entirely. What the role does require is consistency: opening the mail, checking the bank feed, logging transactions, and following the same category structure month after month so anyone who picks up the books later can understand them. The treasurer also usually has fiduciary duty, meaning a legal obligation to act in the organization's financial interest rather than any individual's. That's a real duty, not a figure of speech. Courts and state attorneys general treat breach of fiduciary duty by nonprofit officers seriously, and most state nonprofit corporation statutes spell out the duty of care and loyalty for officers and directors.
What do treasurers do day to day, month to month, and year to year?
| Daily/weekly | Deposit funds, log transactions, save receipts |
|---|---|
| Monthly | Reconcile bank statement, report to board, review budget vs. actual |
| Annually | File IRS return, renew state charity registration, prepare budget, handoff documentation |
Duties split cleanly into three time horizons, and knowing which bucket a task belongs in keeps the job from feeling like an undifferentiated pile of chores. Daily or as-it-happens: deposit checks and cash promptly (many treasurers set a rule like within 3 business days), log every transaction with a date, amount, and category, and keep receipts or invoices attached to each entry, digitally or in a folder. Monthly: reconcile the bank statement against your ledger, prepare a simple income-and-expense report for the board meeting, and flag anything unusual (a check that hasn't cleared, a category running over budget) before it becomes a bigger problem. Annually: prepare or help prepare a budget for the coming year, close out the fiscal year's books, hand records to an incoming treasurer or reviewer, and file the group's federal return (Form 990-N, 990-EZ, or 990 depending on gross receipts) plus any required state charitable registration renewal. Table below shows the rough workload by cadence. | Cadence | Core tasks |
What does a club treasurer do that's different from a corporate one?
A corporate treasurer often manages investments, debt, and cash flow for a company with paid accounting staff behind them. A club or booster treasurer is almost always a one-person shop handling everything from petty cash for the concession stand to the annual IRS filing, with no backup unless they build one. What does a treasurer of a club do specifically that a corporate counterpart doesn't? Handle physical cash constantly (gate admissions, bake sale proceeds, raffle ticket sales), track in-kind donations for the annual report, coordinate with a raffle license if the state requires one for fundraising games of chance, and often personally know every family the money touches. That closeness is a strength for trust and a risk for controls: the same parent who counts the concession cash box shouldn't also be the only one who reconciles the bank account, ideally. Split those duties whenever you have more than one volunteer to spread the work across. For raffle-specific fundraising, requirements vary heavily by state: some require a license from the state attorney general or gaming commission, some cap prize values, and some exempt small volunteer-run raffles below a certain threshold. Confirm with your state charity office or attorney general before running one.
What is Form 990, and does a small booster club or PTO have to file it?
| Normally ≤ $50,000 | any | Form 990-N (e-Postcard) | |
|---|---|---|---|
| < $200,000 | < $500,000 | Form 990-EZ (or full 990) | |
| ≥ $200,000 | ≥ $500,000 | Form 990 | Those thresholds come directly from IRS guidance on which return to file. Confirm current thresholds with the IRS before filing, since dollar cutoffs can be adjusted over time. If your group's total tax-exempt status is even in question, or you've missed filings, that's worth resolving before anything else. See our guide on form 990 filing basics for the mechanics. |
Form 990 is the annual information return that tax-exempt organizations file with the IRS to report income, expenses, and activities. The IRS states plainly: "Tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations file Form 990 to provide the IRS with the information required by section 6033" [1]. Most booster clubs and PTOs won't file the full Form 990. Which version applies depends on gross receipts and assets: | Gross receipts (annual) | Total assets | Form required |
What is a 990 tax form and what is the 990-N specifically?
"990 tax form" is the everyday way people refer to any version in the Form 990 family: the 990-N, the 990-EZ, and the full Form 990. They all report the same basic idea (what came in, what went out, what the organization did) at different levels of detail. The 990-N, sometimes called the e-Postcard, is the short version for the smallest organizations. The IRS describes it plainly: it's for organizations whose annual gross receipts are normally $50,000 or less, and it "must be completed and filed electronically. There is no paper form" [2]. It asks for basic identifying information: legal name, EIN, mailing address, confirmation that gross receipts are still under the threshold, and confirmation the organization is still operating. It's genuinely quick, often 10 minutes once you have your EIN and login set up, but skipping it has consequences. If your group hasn't filed in three straight years, everything changes. See our detailed walkthroughs on [990](https://boosterledger.com/articles/treasurer-basics/990), 990n, and form 990-n for the filing steps themselves.
What happens if the treasurer misses a Form 990 filing?
The IRS is direct about this: "Organizations that fail to file required 990 returns for three consecutive years will automatically lose their tax-exempt status" [3]. That's automatic, no warning letter required, no hearing. One missed year doesn't trigger it. Three in a row does. Auto-revocation means the organization is no longer exempt from federal income tax, donations are no longer deductible to donors, and the group typically has to reapply for exemption (often via Form 1023 or 1023-EZ) to get it back, sometimes with retroactive reinstatement available under Revenue Procedure guidance if filed within a certain window. That's a real headache for a volunteer board, and it's avoidable with a five-minute filing done on time each year. You can check whether an organization's exemption has been revoked using the IRS's own search tool, Tax Exempt Organization Search. If you've just taken over as treasurer and don't know the group's filing history, checking that tool is one of the first things to do, before you do anything else with the books.
What does the treasurer control on the bank account and the cash box?
Signing authority, first. The treasurer (and usually one other officer, as a check on any single person) should be on the bank signature card, with old officers removed promptly when they leave. Banks don't automatically update this; someone has to walk in or submit the paperwork. Second, dual control on anything that touches physical cash. Best practice, echoed across nonprofit financial management guidance, is that no single person should both collect and count cash unsupervised. Two people count concession or gate proceeds together, both sign a tally sheet, and the treasurer deposits the total, matching the sheet against the deposit slip later. Third, a clear approval threshold for spending. Something like: any expense under $100 the treasurer can approve alone, anything above that needs a second signature or board vote first. Put the number in your bylaws or a financial policy so it's not a judgment call made under pressure at a tournament concession stand.
How does a treasurer report to the board and to the members?
A monthly report is the baseline, even for a small club. At minimum it should show beginning balance, total income by category, total expenses by category, and ending balance, matched against the actual bank statement for that period. If the numbers on your spreadsheet and the numbers on the bank statement don't match, that's the reconciliation problem to chase down before the meeting, not after. Many booster clubs also do an annual financial summary at a general membership meeting, especially before elections. Transparency here isn't optional politeness; it's often written directly into the bylaws, and it protects the treasurer as much as the members. A treasurer who shares clean numbly monthly has a much easier time if anyone ever questions a transaction later. Keep every monthly report. They add up to your year-end file and make the annual IRS filing and any external review far faster to prepare.
What records does a treasurer need to keep, and for how long?
At minimum: bank statements, deposit slips, receipts or invoices for every expense, the check register or ledger, board meeting minutes where financial decisions were approved, and copies of every annual filing (990-series and any state charity registration renewal). Retention periods vary by document and state, but a commonly cited baseline from nonprofit financial management guidance is at least 7 years for financial records tied to tax filings, and permanently for governing documents (bylaws, articles of incorporation, IRS determination letter). If your group has ever had an audit or a state registration question, keep those records permanently too. Digital storage (a shared drive, a dedicated folder structure by fiscal year) beats a cardboard box in someone's garage, mostly because it survives officer turnover. The box doesn't.
How does a treasurer hand off the books to the next person?
This is where most booster clubs and PTOs fall apart financially, not through fraud but through pure information loss. The outgoing treasurer knows where everything is; the incoming one doesn't, and a year later nobody does. A clean handoff includes: the EIN and login credentials for IRS e-filing, the state charity registration number and renewal date, current bank statements and reconciliation, the fiscal year budget, a list of recurring bills or subscriptions, and physical or digital access to at least the last 3 years of records. Building that packet from scratch, state by state and form by form, is genuinely tedious, which is the exact gap the $99 one-time State-Personalized Treasurer Kit is built to close: a filing calendar, state-specific raffle and registration pointers, and a handoff checklist customized to your state, built once and reused every year your group rotates treasurers.
What should a brand-new treasurer do in the first 30 days?
Get the EIN and check the group's IRS status first, using the Tax Exempt Organization Search tool, before touching anything else. If auto-revocation already happened, that reshapes your whole to-do list. Second, get on the bank account and pull the last 12 months of statements. Reconcile them against whatever ledger exists, even a messy one. Third, find or rebuild the budget and compare it against actual spending so far this year. Fourth, confirm your state's charitable registration status and renewal date with your state charity office or attorney general, since many states require annual renewal separate from the IRS filing. Fifth, calendar every deadline: 990-series filing date, state renewal date, any raffle license renewal. None of that is glamorous. All of it prevents the kind of quiet, slow-motion mess that takes a new treasurer six months to untangle otherwise.
Frequently asked questions
What does a treasurer do in a PTO or booster club?
A treasurer tracks all money in and out, reconciles the bank account monthly, reports finances to the board, prepares or supports the annual budget, and files the organization's required IRS return (usually Form 990-N) and any state charity registration renewal. In practice it's part bookkeeper, part compliance officer, run entirely by a volunteer.
What is Form 990 in simple terms?
Form 990 is the annual information return tax-exempt organizations file so the IRS can review their income, expenses, and activities under Internal Revenue Code section 6033. Most small booster clubs actually file the shorter 990-N instead, since it's for organizations with gross receipts normally at or under $50,000.
What is the 990 tax form deadline?
The 990-series return is due by the 15th day of the 5th month after your organization's fiscal year ends. For a calendar-year group (fiscal year ending December 31), that's May 15. Confirm your group's exact fiscal year and current deadline with the IRS, since extensions and exact dates can shift.
What does a club treasurer do differently from other officers?
The treasurer specifically holds custody of the money and records: bank signing authority, the ledger, receipts, and filings. Other officers (president, secretary) handle governance and meeting records. In small clubs the treasurer often also handles cash from events, which is why dual-control counting policies matter.
What happens if my club has never filed a 990 form?
If the group has legitimate tax-exempt status but never filed, check the IRS Tax Exempt Organization Search tool to see its current status. If exemption has already been auto-revoked after three missed years, you'll likely need to reapply for exemption. This isn't tax advice; confirm your specific situation and options with the IRS.
Does a small booster club really need to file anything with the IRS?
Yes, almost always, if it holds federal tax-exempt status. Even organizations with no income beyond a bake sale still typically owe the 990-N e-Postcard annually if gross receipts stay under the threshold. Skipping it for three consecutive years triggers automatic revocation of exempt status under IRS rules.
What's the difference between a treasurer and a bookkeeper?
A bookkeeper records transactions. A treasurer does that plus carries fiduciary and often legal responsibility for the organization's money, signs on the bank account, reports to the board, and ensures required filings happen. In many small nonprofits, one volunteer does both jobs at once.
How much cash can a treasurer handle without extra controls?
There's no single legal dollar threshold; it depends on your bylaws and internal policy. A common practical approach is requiring two people to count and sign off on any cash over a modest amount (some clubs use $100 or $250 as their internal trigger) before it's deposited or reported.
What is a 990-N e-Postcard?
The 990-N is the shortest version of the Form 990 family, filed entirely online with no paper option, for organizations with gross receipts normally $50,000 or less. It asks for basic details like EIN, legal name, address, and confirmation the organization is still active, and typically takes about 10 minutes.
Do treasurers need to be bonded or insured?
Some bylaws or state requirements call for a treasurer to be covered by a fidelity bond, which protects the organization against loss from theft or fraud by that officer. It's not universal, but check your organization's bylaws and consider asking your insurance agent about it if cash volumes are meaningful.
What records should a new treasurer ask for from the outgoing one?
At minimum: the EIN, last 12 months of bank statements, the current ledger or accounting file, copies of the last three years of IRS filings, the state charity registration number and renewal date, the current budget, and board meeting minutes covering financial decisions.
Is running a raffle part of normal treasurer duties?
Often yes in practice, since raffles are common booster and PTO fundraisers, but the legal requirements sit with the state, not the IRS. Many states require a specific raffle or gaming license through the state attorney general or gaming commission; some exempt small volunteer-run raffles. Confirm with your state charity office before running one.
Sources
- IRS, About Form 990: Form 990 is filed to provide the IRS information required under Internal Revenue Code section 6033
- IRS, Annual Electronic Filing Requirement for Small Exempt Organizations (Form 990-N): 990-N is for organizations with gross receipts normally $50,000 or less and must be filed electronically with no paper form
- IRS, Tax Exempt Organization Search: Tool for checking an organization's current exempt status and filing/revocation history
- IRS, Form 1023-EZ: Streamlined application some organizations use to reapply for exemption after revocation
- IRS: Exempt organizations must file annual returns each year based on their filing thresholds, and failing to file for three consecutive years results in automatic revocation of tax-exempt status.
- IRS: Instructions for Form 990-EZ explain filing thresholds and requirements relevant to small nonprofit organizations like booster clubs and PTOs.
- IRS: Treasurers must be aware of unrelated business income tax rules that may apply to certain club fundraising activities.
- IRS Publication 4221-PC: IRS guidance on recordkeeping, governance, and disclosure requirements for tax-exempt organizations informs what records a treasurer needs to keep and for how long.