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IRS Form 990 Resources
Is Your Organization At Risk?
Many nonprofit organizations are in danger of having their tax-exempt status revoked by the IRS if they do not file their 2009 tax year Form 990 by May 17, 2010. The Pension Protection Act of 2006 requires that all charities, except for churches and church-related groups, file an informational return with the IRS, effective for the 2007 tax year. A provision under this law allows the IRS to automatically revoke the tax-exempt status of any group that fails to file a return for three consecutive years. Don't let your organization be one of them!
First, know your filing requirements:
- All tax-exempt organizations are required to file a Form 990, with the except of some religious, political, and government groups. Check out the IRS list of who must file to find the requirements for your organization.
- Organizations with gross annual receipts of $25,000 or less file the Form 990-N, or may choose to file a full 990.
- Organizations with gross annual receipts of less than $500,000 and total assets of $1.25 million or less file the 990-EZ or 990.
- Organizations with gross annual receipts of $500,000 or greater or total assets greater than $1.25 million file the 990.
- Private foundations, regardless of financial activity, must file the Form 99-PF
Next, know the deadlines:
- The return is due on the 15th day of the 5th month after the end of your fiscal year. For example, if the last day of your fiscal year is December 31st, your return is due on May 15th.
- Since May 15th falls on a Saturday this year, the deadline to file is May 17th, the following Monday.
- An extension may be filed for for Form 990, 990-EZ, and the 990-PF, but NOT for the 990-N.
Filing is simple! If you are required to file the 990-N, go to www.irs.gov/eo and click on Annual Electronic Filing Requirement for Small Exempt Organizations - Form 990-N (e-Postcard). You will need to know your organization's EIN to register for the filing system. Remember, no extensions are allowed for the 990-N, so be sure to file on time.
Not sure if your organization has filed in the past three years? The National Center for Charitable Statistics has a searchable database of organizations that are in danger of losing their tax-exempt status. Find them online at http://nccsdataweb.urban.org/PubApps/990search.php?epostcard=1&state=WA
Governance Policies
This free set of sample policies and procedures addresses the governance areas that the Form 990 asks about.
- Conflict of Interest
- Document Retention
- Private Inurement
- Whistleblowers
These sample policies and procedures should be customized to meet the needs of your organization. Click on the image below to download the document as an Adobe PDF file.
