Certain federally tax-exempt entities except churches and state institutions and all 501 (c)(3) charitable organizations and foundations regardless of the income are required to file Form 990 with the IRS. Foam 990 is an important document for the charity as well as those who are interested in the charity itself. It provides lots of financial as well as non-financial information. This is why responsible parties need to carefully review information for accuracy before filing with the IRS. The beauty is that there are deadlines to file the form except you must file based on your charity’s fiscal year.
- Form 990 is the long form. If you do not fall into one of the criteria below and your income and assets exceed certain amounts, then you will be filing this form.
- Form 990-EZ: Certain non-profits that meet the income and total assets limitations can file this form. Check with the IRS Web site to make sure your eligibility to use the form.
- Form 990-PF: Filed by the 501 (c)(3) private foundations and 4947 (a)(1) non-exempt charitable trusts.
- Form 990-N: An electronic return that can be filed by certain charities that meets certain income levels. Before filing, consult the IRS Web site to make sure you qualify to file this form.