Page 17 - MFM August 2017
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Montana Freemason                                         August 2017                                     Volume 93   Number 2
     the  property  and  grounds  be  properly  maintained.
     Further, the Grand Lodge insurance pays secondary
     to any Lodge insurance.  It behooves the Lodge to
     review  its  insurance  coverage  annually.    Grand
     Lodge has a publication that discusses the coverage
     and limitations of the Grand Lodge insurance policy.

      Buildings often present another problem for Lodges.
     As  we  discovered  during  the  latest  round  of  State
     property  tax  exemption  filings,  many  Lodges  do
     not have copies of the deeds to their properties.  In
     researching deeds for the property tax exemptions,
     the buildings were so old that recordings go back a
     century or more.  We had one Lodge that could not
     find  any  record  of  their  ownership.    Additionally,
     some  of  the  trustees  who  originally  signed  deeds
     passed away decades ago.  It may be incumbent upon
     Lodges to assure that deeds are current or are refiled
     with living individuals as trustees.  This applies as
     well  to  real  property  that  a  Lodge  may  own  other
     than its building.

      Don’t overlook or ignore the required IRS filings.
     Filing  a  Form  990  series  return  is  an  annual
     requirement.  For most Lodges that filing requirement
     is met by going online a completing the Form 990-
     N  short  form  return.    You  are  eligible  to  use  the
     Form 990-N if the Lodge annual receipts, including
     dues, do not exceed $50,000.  That covers 95% of
     the Lodges in Montana.  If you are required to file a
     Form 990 or 990-EZ, you may need the services of
     an accountant.
      There is a Masonic Lodge Financial Management
     Handbook available from Grand Lodge.  It contains
     information  on  what  a  Lodge  needs  to  operate
     fiscally.  It discusses Lodge trustees, insurance, life
     memberships,  contributions,  budgeting,  investing,
     buildings and property, taxes and many other items
     affecting  Lodge  finances.    It  also  includes  many
     samples of forms and policies that can be used by
     Lodges.  Please contact the Grand Lodge office if you
     would like a copy.  It is only available in electronic

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