No Fiscal Year Change Necessary

No Change in Fiscal Year Necessary for Local AMBUCS Chapters.  After consulting with our attorney, who specializes in tax law related to nonprofit organizations, it was determined that it will not be necessary for local AMBUCS chapters to change their fiscal year to coincide with the January 1 – December 31 fiscal year now observed by National AMBUCS, Inc. and Amtryke, LLC. Though all chapters are affiliated with National AMBUCS, Inc., each chapter files a separate tax return under its own federal tax identification number.  A change in fiscal year would be required only if the national organization and local chapters filed a joint or combined return. Since this is not and will not be the case, local chapters may continue to use the fiscal year they have historically observed. We were initially advised by our auditors, in error,  that a change in fiscal year would be required for local chapters. We apologize for any inconvenience this may have caused.