Male in suit examines financial docs

7 Ways to Practically Guarantee Your Nonprofit a Date with the IRS

Completing Form 990 takes a lot of time and effort. Nonprofits deal with this substantial challenge each year, dutifully gathering information on all financial activities and filing the mandatory report with the IRS. While NFP leaders typically strive to ensure the accuracy and timeliness of their 990 returns, mistakes can slip through here and there. That’s a concern, and not just because we all like to think we’re fulfilling our tax obligations correctly.

Read More »
Tax manager filling our tax forms

Fun With Form 990

OK, it’s not actually fun. Much to the chagrin of nonprofit leaders, tax-exempt does not mean filing-exempt. Most nonprofit organizations must file Form 990, which is due to the IRS by the 15th day of the 5th month after the close of each fiscal year. A few church-affiliated organizations can escape this annual requirement by applying for an exemption. For everyone else, the best approach is to understand the reporting rules and adopt an organized approach.

Read More »