Form 990

Form 990 is an annual information return required by the IRS for most tax-exempt organizations. Key points include:

1. Provides financial information about the organization

2. Discloses governance practices and policies

3. Reports on program activities and accomplishments

4. Available to the public, promoting transparency

5. Different versions based on organization size and type:

   – Form 990-N (e-Postcard) for small organizations

   – Form 990-EZ for mid-sized organizations

   – Full Form 990 for larger organizations

Filing Form 990 is crucial for maintaining tax-exempt status. It helps the IRS and the public evaluate an organization’s operations and ensure it’s fulfilling its exempt purpose. The form includes details on revenue, expenses, assets, liabilities, and compensation of key employees. Accurate and timely filing is essential to avoid penalties and maintain public trust. Many donors and grantmakers review Form 990 when considering support for an organization.