Did you know over 1.5 million nonprofits in the U.S. must file an IRS Form 990 every year? Not filing can lead to big penalties and losing tax-exempt status. It’s vital for nonprofit leaders to know how IRS Form 990 works to stay compliant and transparent.
Form 990 is a public document that shows a nonprofit’s mission, programs, and finances. It’s key for building trust with donors and the public. But, understanding Form IRS 990 can be tough due to different rules for size and type of organization.
We’ve made a detailed guide to help you with Form 990 filing. It covers the ten most important things you need to know. From figuring out if you need to file to reporting finances and governance, this guide has you covered. It will help you stay compliant and keep your tax-exempt status.
Key Takeaways
- Nonprofits must file the right IRS Form 990 based on their income and assets.
- Not filing Form 990 for three years in a row means losing tax-exempt status.
- Most organizations must file Form 990 online, with a few exceptions.
- It’s important to report finances, governance, and program success accurately.
- Organizations must let the public see their Form 990 and follow disclosure rules.
Understanding the IRS Form 990: A Comprehensive Overview
The IRS Form 990 is a key yearly report that most tax-exempt groups must file. It helps keep their nonprofit status and ensures they are open. This form gives the public, government, and donors key details about a nonprofit’s work, money, and leadership.
Knowing about the different types of Form 990 helps nonprofits understand their role in being open. This makes it easier for them to follow IRS rules and file correctly.
What is IRS Form 990 and why it matters
Form 990 is a yearly report the IRS needs from most groups that don’t pay income tax. It’s also needed by some political groups and certain trusts. This form is a main way to share info about a nonprofit’s work. It lets people see if the group follows tax laws and how well it does its job.
It’s important to file Form 990 correctly and on time. Doing so keeps a nonprofit’s tax-exempt status and builds trust with people who support it.
Different types of Form 990 (990, 990-EZ, 990-N, 990-PF)
The IRS has different Forms 990 for various groups based on their income and assets:
- Form 990: Needed for groups making over $200,000 or having over $500,000 in assets.
- Form 990-EZ: A simpler version for groups making less than $200,000 and having less than $500,000 in assets.
- Form 990-N (e-Postcard): An annual report for small groups making $50,000 or less.
- Form 990-PF: A special form for private foundations, no matter their finances.
The role of IRS Form 990 in nonprofit transparency
Form 990 is key to making nonprofits open and accountable. By sharing this info, groups show they are open and help people make better choices about supporting them. The IRS also uses Form 990 to check if groups follow tax laws and watch their activities.
Nonprofits that are open and fill out Form 990 correctly can gain trust from donors, regulators, and the public.
Being open with Form 990 is more than just following the law. It’s a chance to show an organization’s true commitment to its mission and ethical ways.
Understanding IRS Form 990 is crucial for nonprofits. They need to know the rules, deadlines, and what they must share publicly. By staying informed and following the rules, nonprofits can focus on their goals and keep the trust of their supporters.
#1: Determining Your Organization’s Filing Obligations
Nonprofit groups must understand IRS Form 990 filing rules to keep their tax-exempt status. Knowing what your group needs to file is key for following the law and being open. First, figure out which Form 990 your group should file based on its gross receipts thresholds and total assets.
Groups with less than $50,000 in annual gross receipts must file Form 990-N (e-Postcard). Those with more than $50,000 in receipts should file Form 990-EZ or the full Form 990, depending on their finances. Knowing your group’s finances helps you follow IRS rules and keep the public’s trust. This trust is vital for your group’s success. Being open about your finances is part of being a responsible nonprofit, as shown in the 10 best practices for global donation.
Annual gross receipts and total assets thresholds
| Form | Gross Receipts Threshold | Total Assets Threshold |
|---|---|---|
| 990-N | $50,000 or less | N/A |
| 990-EZ | Less than $200,000 | Less than $500,000 |
| 990 | $200,000 or more | $500,000 or more |
Exceptions to filing requirements
Some tax-exempt groups don’t have to file every year. This includes churches, state institutions, and governmental unit affiliates. Some nonprofits, like those under section 501(c)(1) or 501(c)(29), might also be exempt. Make sure to check the IRS guidelines to see if your group qualifies for an exception.
Consequences of failing to file
If your nonprofit doesn’t file the needed Form 990, it could face big problems. Not filing for three years in a row can lead to losing your tax-exempt status. This revocation of tax-exempt status happens on the original filing due date of the third year. Losing this status can hurt your group’s ability to get donations, apply for grants, and keep the public’s trust. To avoid this, make sure your group stays on top of its Form 990 filings and keeps the IRS happy.
#2: Meeting Filing Deadlines for IRS Form 990
Nonprofits must file IRS Form 990 yearly to keep their tax-exempt status and be transparent. It’s key to meet the Form 990 due dates to avoid fines and losing tax-exempt status. Knowing the due dates, how the fiscal year affects them, how to ask for extensions, and about late filing penalties is crucial for nonprofits.
Standard due dates and fiscal year considerations
The usual due date for Form 990 is the 15th day of the 5th month after the fiscal year ends. For example, if a nonprofit’s fiscal year ends on December 31, the Form 990 is due on May 15. But if it ends on June 30, the due date is November 15. It’s important to know your fiscal year-end to figure out the due date.
Extension requests and procedures
If a nonprofit can’t file Form 990 on time, they can ask for a 6-month extension by filing Form 8868 early. This gives them more time to get everything ready. Sometimes, they might need more time, up to a year, if they explain why they need it.
Penalties for late filing
Filing Form 990 late can lead to big fines from the IRS. If a nonprofit makes less than $1 million, they face a $20 per day fine, up to $10,000. If they make more than $1 million, the fine is $100 per day, with no limit. These fines can really hurt a nonprofit’s budget.
Not filing Form 990 for three years in a row can also cause a nonprofit to lose its tax-exempt status. About 28,000 nonprofits lose this status each year for not following the rules. Only 20% of these nonprofits can get their status back. Losing this status can hurt their reputation and make fundraising harder.
| Gross Receipts | Form to File | Due Date |
|---|---|---|
| Less than or equal to $50,000 | 990-N (e-postcard) | 15th day of the 5th month after fiscal year-end |
| Between $50,000 and $200,000 | 990 or 990-EZ | 15th day of the 5th month after fiscal year-end |
| Equal to or exceeding $200,000 | Form 990 | 15th day of the 5th month after fiscal year-end |
| Private Foundations (regardless of gross receipts) | 990-PF | 15th day of the 5th month after fiscal year-end |
To avoid fines and stay in compliance, nonprofits should file Form 990 accurately and on time. Understanding the deadlines, using extensions when needed, and knowing about fines helps nonprofits meet their filing duties and keep their tax-exempt status.
#3: Accurate Reporting of Financial Information on IRS Form 990
Accurate financial reporting is key for nonprofits to stay transparent and accountable. The IRS Form 990 is a vital tool for sharing financial details with the public. Groups like Charity Navigator use this form to check an organization’s finances, accountability, and openness. This affects where donors choose to give their money.
Nonprofits need to keep a good image and gain trust by being truthful on their Form 990. They must report revenue, expenses, assets, and liabilities correctly, following GAAP rules. It’s also important to share audited financial statements and reports with the public yearly.
Income statement and balance sheet requirements
The Form 990 asks for detailed info on income and balance sheets. Revenue sources like donations, grants, and investment income must be listed. Expenses should be split into program services, management, and fundraising. The balance sheet should show the organization’s assets, debts, and net worth at year’s end.
Properly categorizing expenses
How nonprofits split up their expenses is crucial for honest financial reporting. They must put expenses into program services, management, and fundraising categories. This should be done using a fair and consistent method, like time studies. This way, people can see how well an organization uses its funds for its mission.
Disclosing fundraising activities and costs
Reporting on fundraising is a big part of the Form 990. Nonprofits must share details on their fundraising efforts and costs. This includes fees for professional fundraisers, ad spending, and joint costs. Joint costs, which cover both fundraising and other activities, need to be split fairly. Direct fundraising costs should be listed separately to show how efficient an organization is at raising money.
Wrong financial info on the Form 990 can hurt nonprofits a lot. Donors might give to other groups, and funders could stop supporting them. This can cause both financial and reputational harm. By focusing on accurate financial reporting, nonprofits can keep donors’ trust, follow IRS rules, and show they’re open and responsible.
#4: Governance and Management Disclosures in IRS Form 990
Good nonprofit governance is key to keeping the public’s trust and following IRS rules. Form 990, Part VI, talks about an organization’s leadership, management, and governance rules. These details make the organization open and accountable. They let the public and the IRS see if the organization acts ethically and is well-led.
Board Composition and Independence
Organizations must tell Form 990 how many voting members are on their board and if they are independent. An independent board member doesn’t get paid by the organization and has no conflicts of interest. Having most of these members ensures the organization’s decisions are fair and focused on its mission.
Conflict of Interest Policies
A written policy on conflict of interest is vital for a nonprofit’s integrity. Form 990 asks if the organization has such a policy and how it checks and enforces it. A good policy makes board members and key staff list any potential conflicts and how to deal with them. Keeping the policy up to date helps stop bad influence on decisions.
The IRS FAQs say that filing organizations must have their own conflict of interest, whistleblower, and document policies, even if a parent organization has them. These policies must be in place by the end of the reporting year to be counted for Form 990.
Whistleblower Policies and Document Retention
Whistleblower protection lets employees and volunteers report misconduct or policy violations safely. Form 990 asks if the organization has a whistleblower policy. Document retention policies tell how to keep and destroy records, following the law and protecting important info. The organization must say on Form 990 if it has a document retention policy.
| Policy | Purpose | Form 990 Disclosure |
|---|---|---|
| Conflict of Interest | Prevents undue influence on organizational decisions | Part VI, Section B, Line 12 |
| Whistleblower Protection | Encourages reporting of misconduct without retaliation | Part VI, Section B, Line 13 |
| Document Retention | Ensures compliance with legal requirements and protects information | Part VI, Section B, Line 14 |
By focusing on strong governance and reporting it on Form 990, nonprofits show they care about doing things right. Keeping these policies up to date helps them stay in line with the law and promotes good leadership.
#5: Compensation Reporting Requirements for Key Personnel
Nonprofits must be clear and honest when reporting what they pay their leaders and staff on IRS Form 990. This part talks about what counts as reportable pay, listing benefits and other pay types, and following IRS rules on too much pay.
Identifying Reportable Compensation
Form 990 asks for detailed pay info for current and past leaders, key staff, and top earners over a certain amount. This includes salary, bonuses, and pay when someone leaves. It’s key to list all pay types to stay open and follow IRS rules.
Disclosure of Benefits and Other Forms of Compensation
Nonprofits also need to share details on other pay types, like health benefits, retirement plans, and travel pay. This full view helps everyone understand what key people get paid.
| Compensation Type | Disclosure Requirement |
|---|---|
| Salary and Bonuses | Report on Form 990, Part VII, Section A |
| Health Benefits | Report on Form 990, Part VII, Section B |
| Retirement Plan Contributions | Report on Form 990, Part VII, Section B |
| Expense Reimbursements | Report on Form 990, Part VII, Section B |
Ensuring Compliance with IRS Regulations on Excessive Compensation
The IRS can fine nonprofits if pay is too high. To avoid fines, nonprofits should:
- Get independent pay data
- Document how they decided on pay
- Make sure pay isn’t influenced by personal interests
This way, nonprofits show they pay fairly and reasonably to their key staff.
The excise tax under Section 4960 imposes a tax rate of 21% on certain remuneration exceeding $1 million and on excess parachute payments.
Right reporting and following IRS rules on leader pay is key to keeping trust and avoiding fines. Nonprofits should focus on clear disclosure and good pay practices.
#6: Program Service Accomplishments and Mission Statement
Form 990, Part III is key for nonprofits to share their mission, achievements, and how they meet their tax-exempt goals. It lets them share their vision, list main program activities, and show the results and costs of these efforts.
Articulating your organization’s mission and vision
The mission statement is vital for any nonprofit. It should be short, clear, and inspiring. It must match the exempt purpose in your founding documents, like articles of incorporation or bylaws.
Describing major program activities and their outcomes
Form 990 asks for details on the three biggest program services. You must list the activities, who they help, and any money made from them. This shows the good your programs do and how they help your mission.
It’s key to measure and share the results of your work. This shows you’re effective and accountable to the IRS and everyone else. Use metrics like:
- Number of individuals served
- Geographic areas impacted
- Specific outcomes achieved (e.g., improved health, increased access to education)
- Partnerships and collaborations formed
Quantifying program expenses and revenue
Form 990 also needs details on program costs and earnings. This shows how your group uses its funds for its tax-exempt goals. When listing costs, remember to:
- Correctly put costs into the right program categories
- Include salaries, benefits, and other pay related to programs
- Report any grants or help given to people or groups
Also, report program service income accurately. This could be fees for services or selling items. It shows your group’s financial health and its ability to keep its programs going.
“Our mission is to empower communities through innovative programs that address the root causes of poverty and inequality. In 2021, our initiatives reached over 50,000 individuals, providing access to affordable housing, quality education, and job training opportunities.”
Here’s an example from the Local Initiatives Support Corporation (LISC) Form 990 for 2021:
| Financial Metric | Amount |
|---|---|
| Total revenue | $959,648,552 |
| Total expenses | $762,391,116 |
| Total program service revenue | $88,298,712 |
| Total grants issued | 1,400 |
| Affordable homes and apartments developed | 2,356 units |
| Commercial, community, and educational space developed | 1,000,840 sq. ft. |
By sharing a clear mission, listing program wins, and showing costs and income, nonprofits can show their dedication to their tax-exempt goals. They can also show the impact of their work to the IRS and everyone else through Form 990.
#7: Public Disclosure Requirements for IRS Form 990
Nonprofits must share their IRS Form 990 each year. This makes sure they are open and accountable. It lets the public see important info about these groups. It’s key to follow these rules to keep trust and meet the law.
Making Form 990 Available for Public Inspection
Exempt groups must let the public see their Form 990 for three years after filing. This rule covers all Form 990 types, like 990, 990-EZ, and 990-PF. If someone asks for a copy, groups have 30 days to give it. They can charge a fee for copying and sending.
Online Disclosure Options and Best Practices
Many nonprofits share their Form 990 online, on their site or through GuideStar. This shows they are open and builds trust. It also makes getting the form easier and cuts down on paperwork. Good online sharing means putting the link clearly on the site, keeping the latest filing, and giving contact info for more questions.
Handling Requests for Copies of Form 990
When a group gets a Form 990 request, they must act fast and well. Here’s what to do:
- Check if the request is real and made the right way.
- Give the copies out within 30 days of the request.
- Ask for a fee if needed, for copying and sending.
- Hide sensitive info, like social security numbers, first.
- Keep records of all requests and how you answered them.
Following these rules and tips helps nonprofits show they are open and honest. It builds trust with people who support them. Keeping up with these rules also keeps the group’s good name and respect.
| Key Form 990 Public Disclosure Statistics | Value |
|---|---|
| Organizations required to file Form 990 annually | 1.5 million |
| Percentage of nonprofits that file Form 990 electronically | 60% |
| Number of registered users on GuideStar | 2.5 million |
| Percentage of nonprofits that provide Form 990 on their website | 75% |
Navigating Schedule Requirements in IRS Form 990
Filing IRS Form 990 is a key task for nonprofits. It often means filling out various schedules along with the main form. These schedules give extra details on an organization’s work, finances, and tax rules. It’s vital to know which schedules your group needs for correct and full reporting.
Overview of common schedules (A, B, C, D, G, O)
Some top Form 990 schedules you’ll often see are:
- Schedule A: Public Charity Status and Public Support
- Schedule B: Schedule of Contributors
- Schedule C: Political Campaign and Lobbying Activities
- Schedule D: Supplemental Financial Statements
- Schedule G: Supplemental Information Regarding Fundraising or Gaming Activities
- Schedule O: Supplemental Information to Form 990 or 990-EZ
Determining which schedules apply to your organization
To figure out which schedules your group must fill out, read the Form 990 instructions and think about your nonprofit’s situation. Important things to consider are:
- Public charity status and public support tests (Schedule A)
- Need to report certain donors (Schedule B)
- Political campaign or lobbying activities (Schedule C)
- Supplemental financial info needed (Schedule D)
- Fundraising or gaming activities (Schedule G)
- Extra narrative for other parts of the form (Schedule O)
Tips for accurate schedule completion
When filling out Form 990 schedules, remember these tips:
- Make sure info matches the main Form 990
- Check calculations for errors
- Keep explanations clear and brief
- Use IRS instructions for specific reporting needs
- Keep documents to back up your answers
Getting the Form 990 schedules right is key for staying in line with the law and being open. Knowing which schedules your group needs and how to fill them out well helps you report accurately to the IRS and the public.
Organizations must report qualified conservation contributions, like conservation easements, in Form 990, Part VIII, Statement of Revenue, Schedule A (Form 990 or 990-EZ), Public Charity Status and Public Support, Schedule B (Form 990, 990-EZ, or 990-PF), Schedule of Contributors, and Schedule M (Form 990), Noncash Contributions, as per guidelines.
| Schedule | Purpose |
|---|---|
| Schedule D, Part II | Report conservation easements, including total number held, acreage restricted, and easements on certified historic structures |
| Schedule D, Part XIII | Explain any changes to easements modified, transferred, released, extinguished, or terminated during the tax year |
#8: Reporting Lobbying and Political Activities on IRS Form 990
Nonprofits must navigate the complex world of lobbying and political activities to keep their tax-exempt status. They must disclose these activities on Form 990, especially Schedule C. This ensures they follow IRS rules.
Distinguishing between lobbying and political activities
Lobbying tries to change laws, while political activities help in campaigns for elected officials. It’s important for nonprofits to know the difference. Each has its own rules and disclosure needs.
Disclosure requirements for lobbying expenses
Organizations can list lobbying costs on Form 990, Schedule C, Part II-A. If they make the 501(h) election, they have limits and must fill out Part II-B. Going over these limits can lead to a tax called the proxy tax.
| Lobbying Nontaxable Amount | Lobbying Ceiling Amount |
|---|---|
| Up to $500,000 | 20% of the exempt purpose expenditures |
| $500,000 to $1 million | $100,000 plus 15% of the excess over $500,000 |
| $1 million to $1.5 million | $175,000 plus 10% of the excess over $1 million |
| Over $1.5 million | $225,000 plus 5% of the exempt purpose expenditures over $1.5 million |
Ensuring compliance with 501(c)(3) restrictions on political activities
501(c)(3) charities can’t take part in political campaigns. Even a small political action can risk their tax-exempt status. Other 501(c) groups can do more but must still report political spending and might pay tax on it.
“Under the Internal Revenue Code, all section 501(c)(3) organizations are absolutely prohibited from directly or indirectly participating in, or intervening in, any political campaign on behalf of (or in opposition to) any candidate for elective public office.”
By tracking and reporting lobbying and political activities on Form 990, nonprofits stay transparent and follow IRS rules. This helps protect their tax-exempt status.
#9: Accurate Reporting of Fundraising Methods and Expenses
Reporting fundraising methods and expenses accurately is key for nonprofits on IRS Form 990. They must document and share their fundraising work, how they split costs, and their use of professional fundraisers. This keeps them transparent and tax-exempt.
Types of Fundraising Activities to Report
Nonprofits do many fundraising activities to help their cause and programs. They must report these on Form 990, including:
- Mail and email solicitations
- Phone campaigns
- In-person solicitations
- Special events and galas
- Vehicle or goods donations
About 75% of charities use third-party preparers for Form 990. This shows how crucial accurate reporting is.
Allocating Joint Costs Between Program and Fundraising
When fundraising stuff or events also teach or urge action, costs must be split between program and fundraising. This split is tricky and needs careful thought. The AICPA gives advice on this in Statement of Position 98-2.
Rightly splitting joint costs helps nonprofits show their true expenses and avoid misleading reports.
Disclosing Professional Fundraising Services
Nonprofits using professional fundraisers must share this on Form 990. They must say how much they paid these pros and if they controlled the funds raised. Written deals between the group and fundraisers are needed.
| Type of Professional Fundraiser | Percentage of Nonprofits Using |
|---|---|
| Paid Solicitors | 15% |
| Professional Fundraising Consultants | 25% |
| Commercial Co-venturers | 5% |
For quid pro quo gifts over $75, donors get something in return. Nonprofits must tell donors this and report these gifts on Schedule G of Form 990.
By reporting fundraising right, splitting costs well, and sharing who they work with, nonprofits show they’re open and follow IRS rules.
#10: Maintaining Supporting Documentation for IRS Form 990
For nonprofits filing IRS Form 990, keeping accurate supporting documentation is key. This ensures they meet legal standards and stay transparent. It helps manage finances, policies, and public disclosure needs.
Record-keeping requirements for financial data
Organizations need to keep financial records that match what’s on Form 990. This includes bank statements, invoices, receipts, payroll records, and investment statements. Keeping these records right is vital for showing how funds are used and following IRS rules.
These records should be kept for at least three years after filing or the due date, whichever comes later. Payroll records need to be kept for at least four years.
Documenting governance policies and procedures
It’s important to keep and update governance policies like conflict of interest and document retention. These policies show an organization’s ethical commitment and help follow the law. They also build trust and promote transparency within the organization.
According to the Urban Institute, the 990-PF foundation tax return to the IRS is the most commonly used data source about nonprofits. Regional associations of grantmakers collectively represent more than 4,000 grantmakers and the majority of private foundation assets in the country.
Retaining supporting information for public disclosure
Organizations must keep supporting schedules and other info for Form 990 for public inspection. Some donor info might be hidden to protect privacy. Showing Form 990 and its details is a must for most tax-exempt groups. It lets people see an organization’s finances and how it meets its mission.
| Document Type | Retention Period |
|---|---|
| Financial records supporting Form 990 | 3 years from filing date or due date, whichever is later |
| Employment tax records | 4 years |
| Governance policies and procedures | Permanently, with regular reviews and updates |
| Supporting schedules and supplementary information | Same as retention period for Form 990 |
Keeping detailed documentation for IRS Form 990 helps nonprofits stay compliant and build trust. It’s key for good management and governance of nonprofits.
Best Practices for IRS Form 990 Preparation and Review
Start preparing your Form 990 early to make sure it’s accurate and complete. This gives you enough time to collect information, write your answers, and review everything carefully. Make a timeline and give tasks to your team to make the process smoother. Use resources from the IRS and trusted groups to keep up with filing rules, changes, and get helpful tools and checklists.
Get your organization’s audit or finance committee to check your Form 990 for accuracy and completeness. The full board should also look over the form before you send it in. Think about having an independent CPA firm, like Baker Tilly, review it too. Brian Yacker, CPA/JD, Lead Partner of West Nonprofit Tax at Baker Tilly, has almost 30 years of experience in tax, law, and accounting. He helps nonprofits with Form 990 preparation and review.
Make sure your Form 990 tells your organization’s story fully and accurately. It has 12 core parts and 16 schedules. All the information should match across the whole return and with other filings and reports. If you find mistakes or missing info after filing, file an amended Form 990-X right away. For small changes, explain them on next year’s return instead of amending. By following these tips, your organization can stay compliant and transparent with its Form 990 filings.
FAQ
What is IRS Form 990 and who needs to file it?
Form 990 is an annual return that tax-exempt groups must file with the IRS. It shares financial and operational details about the group. Most groups exempt under Section 501(a) and some political groups and trusts must file it.
What are the different types of Form 990?
There are four main types of Form 990:
– Form 990: For groups with over 0,000 in receipts or more than 0,000 in assets.
– Form 990-EZ: For groups with less than 0,000 in receipts and less than 0,000 in assets.
– Form 990-N (e-Postcard): For groups with less than ,000 in annual receipts.
– Form 990-PF: For private foundations.
When is IRS Form 990 due?
Form 990 is due on the 15th day of the 5th month after the year ends. For example, if the year ends on December 31, it’s due by May 15. You can get a 6-month extension by filing Form 8868.
What happens if an organization fails to file IRS Form 990?
The IRS can impose penalties for late or missing Form 990. Not filing for three years in a row can lead to losing tax-exempt status. This happens on the original due date of the third year’s return.
What financial information must be reported on IRS Form 990?
Form 990 needs detailed financial info, like revenue, expenses, assets, and liabilities. It must follow GAAP. Expenses should be split by function, and some revenue and expenses need special details.
What governance and compensation information is required on IRS Form 990?
Form 990 requires info on the governing body and management. It asks about board makeup, compensation, and policies on conflicts of interest and document keeping. It also asks for details on compensation for officers, directors, and top employees.
How should program service accomplishments be reported on IRS Form 990?
You must describe your mission and the three biggest program services. Detail specific achievements for each major program, like how many people helped or publications made. Make sure to correctly split expenses among programs.
What are the public disclosure requirements for IRS Form 990?
Tax-exempt groups must show their latest three Form 990s, including schedules and attachments, to the public. Many post them online or on platforms like GuideStar. If asked, they must give copies within 30 days.
What are some best practices for preparing IRS Form 990?
Start early and make a timeline. Get your finance or audit committee and board to review drafts. Use IRS and industry resources. Ensure everything is consistent and tells your story well. Have a CPA review it. File an amended return if you find errors after submitting.
