All About the 990

Description

Almost all nonprofit organizations must complete some type of 990 information return at the end of each fiscal year. The returns are due 5 1/2 months after year-end, and being late can result in HUGE fines.

Organizations that fail to file can lose their tax-exempt status. Once filed, these returns tell the story of your organization’s activities and are publicly available to funders and donors via IRS as well as other sites such as GuideStar.org. As important as the 990 is, most organizations know little about them.

Join national nonprofit trainer and nonprofit CPA Gregg S. Bossen as we unlock the mystery of the 990, what it says about your organization, and how to leverage it to make your organization shine.

By the end of the session, you will learn:

• IRS requirements: which form to file (990N, 990EZ, 990PF, or 990)
• When it’s better to file a 990 even when not required
• How to read your 990 and, more importantly, what your funders look for
• What the 990 back schedules (A, B ,D, I, M, etc.) are telling the IRS
• Tips for enhancing your 990 to engage potential funders
• How to get out of penalties for late filing
• How to reinstate your tax-exempt status if you’ve lost it
• Where to go for more information