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AOREP Chart of Accounts

This Chart of Accounts is designed to clearly differentiate between various types of income and expenses, ensuring accurate financial reporting and compliance with IRS regulations for 501(c)(6) organizations.

1. Assets

1.1. Current Assets

  • 1010 - Cash
    • 1011 - Operating Cash
    • 1012 - Reserve Cash
  • 1020 - Accounts Receivable
    • 1021 - Member Dues Receivable
    • 1022 - Transaction Fees Receivable
    • 1023 - Expo Event Receivables
  • 1030 - Prepaid Expenses
    • 1031 - Prepaid Insurance
    • 1032 - Prepaid Rent

1.2. Fixed Assets

  • 1510 - Office Equipment
    • 1511 - Computers
    • 1512 - Furniture
  • 1520 - Leasehold Improvements

1.3. Other Assets

  • 1810 - Deposits
    • 1811 - Security Deposits
    • 1812 - Other Deposits

2. Liabilities

2.1. Current Liabilities

  • 2010 - Accounts Payable
    • 2011 - Trade Payables
    • 2012 - Accrued Expenses
  • 2020 - Accrued Payroll
    • 2021 - Salaries Payable
    • 2022 - Benefits Payable
  • 2030 - Deferred Revenue
    • 2031 - Membership Dues Received in Advance
    • 2032 - Expo Event Fees Received in Advance

2.2. Long-Term Liabilities

  • 2510 - Loans Payable
    • 2511 - Bank Loans
    • 2512 - Other Long-Term Liabilities

3. Equity

3.1. Unrestricted Net Assets

  • 3010 - Beginning Net Assets
  • 3020 - Net Income

3.2. Restricted Net Assets

  • 3110 - Temporarily Restricted Net Assets
  • 3120 - Permanently Restricted Net Assets

4. Revenue

4.1. Patronage Income

  • 4010 - Node Sales
    • 4011 - Node Joining Fees
    • 4012 - Node Sales Revenue
  • 4020 - Transaction Fees
    • 4021 - Network Transaction Fees
    • 4022 - Node Processing Fees

4.2. Non-Patronage Income

  • 4110 - Membership Dues
    • 4111 - Individual Membership Dues
    • 4112 - Organizational Membership Dues
  • 4120 - Expo Events
    • 4121 - Expo Event Income
    • 4122 - Sponsorship Revenue
    • 4123 - Exhibit Space Fees
  • 4130 - Educational Programs
    • 4131 - Seminar and Workshop Fees
    • 4132 - Educational Materials Sales

5. Expenses

5.1. Operating Expenses

  • 5010 - Salaries and Wages
    • 5011 - Administrative Salaries
    • 5012 - Program Staff Salaries
  • 5020 - Employee Benefits
    • 5021 - Health Insurance
    • 5022 - Retirement Contributions
  • 5030 - Office Expenses
    • 5031 - Rent
    • 5032 - Utilities
    • 5033 - Office Supplies
  • 5040 - Professional Services
    • 5041 - Legal Fees
    • 5042 - Accounting Services

5.2. Program Expenses

  • 5110 - Node Operations
    • 5111 - Node Maintenance
    • 5112 - Network Administration Costs
  • 5120 - Expo Event Costs
    • 5121 - Event Setup Costs
    • 5122 - Speaker Fees
    • 5123 - Venue Costs
  • 5130 - Educational Programs Costs
    • 5131 - Program Development Costs
    • 5132 - Trainer Fees

5.3. Other Expenses

  • 5210 - Depreciation
  • 5220 - Interest Expense
  • 5230 - Miscellaneous Expenses

6. Patronage Dividends

6.1. Distribution of Surplus

  • 6010 - Patronage Dividends Payable
    • 6011 - Dividends to Node Owners
    • 6012 - Dividends to Professional Members

Notes:

  1. Patronage Income: Includes revenue directly related to the cooperative’s primary function, such as node sales and transaction fees, which are distributed among the members.
  2. Non-Patronage Income: Includes revenue from activities not directly related to the cooperative’s primary purpose, such as membership dues, expo events, and educational programs.
  3. Unrelated Business Income (UBI): Revenue from educational and expo events, which are subject to taxation under IRS regulations. Form 990-T will be used to report and pay taxes on UBI.

 

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