PREPARE FOR END OF FISCAL YEAR

by TOM MACARTHUR
(SAGINAW MI)

We have a new Treasurer bookkeeper and I am a new president of a small 501c3 non-profit. This clause shown below is in our bylaws and It seems the past treasure has neglected to perform this duty. Can you explain what we need to do do full fill this portion of the bylaws. Thank you very much

Prepare, or cause to be prepared, a true statement of the corporation?s assets and liabilities at the close of each fiscal year, in detail,