990 REPORTING

Don’t lose your exempt status!

 

Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.

  1. Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent

  2. Balance Sheet with specific categories like cash, accounts receivable, accounts payable...

  3. Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.

  4. Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.

  5. Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.

Failure to file the annual 990 will result in revocation of your 501c3

REVOKED?

No worries, our experienced 501c3 Department can get you back on track and compliant with the IRS.