Non-profit Gambling Fund Monthly Reporting
We can prepare monthly financial statements for your board of directors and handle the monthly Minnesota Revenue tax return reporting requirement for you.
Each month Minnesota Revenue requires non-profit organizations with gambling fund activities to file the Form G-1 and its schedules, which includes the following items.
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Statement of Revenues and Expenses: Contains revenue and expense categories like compensation, gambling equipment, rent and lawful purpose.
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Statement of Assets, Liabilities and Fund Balance: Contains specific categories like cash, inventory, accounts payable.
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Individual Gambling Site Schedules: Reports all of the revenues and expenses for each gambling site.
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Annual Report to the Gambling Control Board: Details the organization's lawful purpose expenditures.