The Treasurer is one of the three required officers of Ace Monster Toys, Inc., (dba Ace Makerspace), along with the Chief Executive Officer (CEO) and Secretary, serving in accordance with the nonprofit organization’s bylaws. The Treasurer is elected by the Board of Directors and works closely with them as part of the AMT Officer team.

The Treasurer is an officer of the organization, but is not required to be a director. Appointment as Treasurer does not, by itself, give the Treasurer a vote on the Board of Directors. If the Treasurer is also a director, they participate and vote as a director.

This is an unpaid volunteer role that typically requires a commitment of approximately 10 hours per month.

Governance Duties

The Treasurer is responsible for duties as outlined in Article 4 Officers §9 Duties of Treasurer of the bylaws.

The Treasurer, serving as the organization’s Chief Financial Officer, helps ensure accurate financial records and appropriate financial controls, reviews financial reports and the budget, and keeps the Board informed about the organization’s financial position and significant financial matters.

Financial oversight

• Ensure accurate financial records and appropriate financial controls.
• Ensure required federal, state, and local financial and tax filings are completed accurately and on time.
• Ensure required financial reports and statements are prepared and available to the Board.
• Manage the annual budgeting process and present the proposed budget to the Board for approval.

Current Duties

The following are the Treasurer’s current operational responsibilities. 

Semi-Monthly

• Ensure payroll administration is completed (Reference: How to Process Payroll)

Monthly

• Review financial reports, including actual results against budget, and advise the Board at the regular Board meeting on significant financial matters, risks, and recommendations requiring Board action.

Annually

• Ensure the annual report required by the bylaws is completed on time.
• Ensure annual returns are filed with the IRS within five months of the fiscal year-end.
• Ensure the latest public 990 is posted on the Wiki.
• Ensure required state returns, including the RRF-1 with the CA DOJ and Form 199 with the CA FTB, are filed on time.
• Ensure sales tax returns are filed with the CDTFA on time.
• Ensure the annual budgeting process is completed and presented to Board for approval.
• Ensure required paperwork is filed with the City of Oakland and other applicable agencies.

Every 5 Years

• Ensure the filing for renewal of DBA paperwork with the County of Alameda is completed on time.

Delegation

The Treasurer may delegate or arrange for others to perform bookkeeping, data entry, bill payment, payroll administration, tax preparation, financial statement preparation, or other routine financial work, subject to the authority and direction of the Board.

Delegation does not transfer the Treasurer’s responsibility for financial oversight. The Treasurer should have sufficient access to financial records and reports to verify that delegated work is being performed appropriately.

What this role is not

The Treasurer is not necessarily the organization’s bookkeeper, accountant, payroll administrator, or tax preparer. The Treasurer may perform these functions when practical, but the governance responsibility is to ensure that these functions are performed properly rather than personally performing every financial task.

Past Duties

View Treasurer (Legacy/2019 Archive) for past duties and details of the historical role.