The Leader
January 2021: Lodge Finances

The new year is a time for many things, but one of them is less exciting than the rest: the approach of tax season. And as many lodges and hall associations are dealing with a reduction in income over the past year due to reduced or lost rent payments and single-use event rentals, this year, it’s especially important to make sure is managing its finances and tax obligations properly. Luckily, Grand Lodge can help.

“Many lodges struggle with their finances at the end of the year,” says Maribel Pasamic, controller for the Grand Lodge of California. It’s a truism that no one joined Freemasonry to become bookkeepers, but the reality is that lodges and hall associations need proper financial stewardship.” Tax season just happens to be when some lodge and hall association leaders remember this. If you’re among those struggling to backtrack and reconcile records at the end of the year, let the Grand Lodge finance team help through its suite of tools and services. Chief among those is a service called a bank and investment account reconciliation. But the best tool is a little bit of foreplanning, Pasamic says. “The biggest mistake we see lodges and hall associations make is not updating their records throughout the year. Once you stop entering in your financial records, it becomes that much harder to keep track of things when the end of the year arrives.”

Services like the account reconciliation are available those using the accounting system Intacct, which more than 250 California lodges and hall associations currently do. Beginning in January 2021, lodges can sign up for Intacct free of charge, though hall associations will still be assessed a service fee. Another change for 2021 is the availability of Paycheck, a new payroll system offered by Grand Lodge. Unlike Intacct, both lodges and hall associations will be assessed a fee to use Paycheck based on the number of employees they have.

A great way to learn the ins and outs of lodge and hall association finance is by registering for the Online Masonic Leadership Courses for secretaries, treasurers, and hall association directors. This year, bootcamps and retreats will be held virtually throughout January and February. Attend all the events or pick and choose the sessions most important to you. This year’s bootcamps and leadership courses are free. These bootcamps are designed to teach the basics of lodge management, introduce iMember 2.0, and teach those new in their roles and how to effectively do their job.

But also, always keep in mind that Grand Lodge is always a call or email away. “Basically, if you have a problem,” Pasamic says, “just pick up the phone and call us. That’s what we’re here for.”