National Executive Committee Financial Affairs of the LAC
The Lithuanian American Community National Executive Committee’s Financial Information section is prepared in accordance with the functions and responsibilities of the Committee’s Vice President for Finance, as defined in the bylaws of the Lithuanian American Community.
The purpose of this information is to ensure consistent, transparent, and unified financial management across all Lithuanian American Community chapters and districts. This section provides financial report templates, payment information, guidelines, and key terms.
This information is intended to streamline financial processes, strengthen internal controls, and reduce the number of recurring inquiries.
2025 FINANCIAL REPORT REMINDER
FOR DISTRICTS AND CHAPTERS
1. Financial Calendar for Districts and Chapters
Financial Terms (Reporting and Payments)
- By January 15 – Districts and Chapters submit their 1099 payment summaries (download form here) (applies if $600 or more was paid to service providers in 2025 – see Section 3. 1099 Payment Summaries)
- By March 31 – Districts and Chapters submit their 2025 annual financial report (download form here)
- By March 31 – Chapters transfer the designated portion of the Solidarity Contribution for the previous calendar year (see Section 5 – Solidarity Contribution).
- By April 30 – Districts and Chapters submit their Control Commission report (treasury review, free‑form).
2. Additional Important Deadlines and Activities
- February 16 (or during March 11 commemorations) –an annual donation is collected in the Chapters to support the activities of the Lithuanian Community
- By April 30 – Chapters report to the Vice President for Finance of the Lithuanian American Community National Executive Committee for all collected donations (100%).
Send to:
Lithuanian American Community Inc
c/o Ruta Cariov
PO Box 460368
Denver, CO 80246-9998
- June–August – District conventions are convened
- September – a fundraising campaign is conducted to support Lithuanian heritage education
- By December 15 – LB members report to the Lithuanian Educational Council of the USA for all donations collected during the fundraising campaign (funds are sent directly to the Educational Council).
3. 1099 Payment Summaries
Districts and Chapters must determine whether any payments made during the year require the issuance of a Form 1099.
When it applies:
- To service providers (individuals or self‑employed persons) who were paid during the calendar year:
- $600 or more (in 2025)
- $2,000 or more (starting in 2026)
(applies only to services, not goods)
What must be done:
- Collect a Form W‑9 from the service provider before issuing payment (download form here)
- Prepare the 1099 Payment Summary (download form here)
- 1099 does not apply to C‑corporation or S‑corporation entities
- 1099 does not apply to payments for goods (applies to services only)
- If there is any uncertainty about whether a specific payment must be included on Form 1099, please consult with JAV LB Finance (finansai@javlb.org) or a tax professional
- See also the FAQ section
4. Annual Financial Report of Districts and Chapters
Each JAV LB District and Chapter is required to submit an Annual Financial Report for the previous calendar year.
What must be submitted:
a) Annual Financial Report (download form here)
- Prepared based on bank account activity (income / expenses)
b) Bank statements (required)
- End‑of‑year statement (e.g., 12/31/2024)
- End‑of‑year statement for the reporting year (e.g., 12/31/2025)
If the Chapter or District maintains more than one account (checking, savings, CD), please submit statements for all accounts.
To quickly ensure that all requirements are met, use: The checklist „Iki kovo 31 d.“ (download list here)
Submission Procedure
In the subject line, indicate the name of the District or Chapter (e.g., 2025 Financial Report – Omaha)
- The Financial Report must match the bank records
- Bank statements are used for verification
- If any required documents are missing, the report will be considered incomplete
5. Solidarity Contribution
Solidarity Contribution Allocation (Bylaws Article 211.20):
a. 50% remains in the Chapter Executive committee’s treasury
b. 10% is sent by the Chapter to the District Executive Committee
c. 40% is sent by the Chapter to the Lithuanian American Community National Executive Committee
The National Executive Committee allocates the 40% portion of the Solidarity Contribution as follows:
• 25% remains with the National Executive Committee
• 15% is transferred to the World Lithuanian Community (WLC)
Important:
The Chapter does not send any portion directly to the WLC.
The Chapter sends only 10% to the District and 40% to the National Executive Committee.
Procedure for Chapter Payments to the National Executive Committee:
Please send one check for the 40% amount by March 31 for the previous calendar year.
Payment Information:
Lithuanian American Community Inc
c/o Ruta Cariov
PO Box 460368
Denver, CO 80246-9998
6. February 16 / March 11 Donations
(Bylaws Article 212.21)
All donations intended for the National Executive Committee must be sent to:
Lithuanian American Community Inc
c/o Ruta Cariov
PO Box 460368
Denver, CO 80246-9998
7. Chapter Finance Guide (to be published shortly)
- Key guidelines for managing Chapter finances (coming soon)
- Document Retention (coming soon)
- Responsibilities (coming soon)
8. Audit Commission and Financial Review (to be published shortly)
- Functions of the Audit Commission (coming soon)
- Financial Review Process (coming soon)
- Sample Forms / Checklist (coming soon)
9. Banking Information
Where to send checks:
Lithuanian American Community Inc
c/o Ruta Cariov
PO Box 460368
Denver, CO 80246-9998
JAV LB Banking Information:
Taupa Lithuanian FCU
PO Box 95
South Boston, MA 02127
7. Frequently Asked Questions (FAQ) (coming soon)
Vicepresident of the National Executive Committee Financial Affairs of the LAC