Get the free 2008 IRS Form 990 Summary

This document outlines the major changes and updates made to the IRS Form 990, including alterations in reporting requirements, governance questions, and compensation disclosures.

How to fill out 2008 irs form 990

How to fill out 2008 IRS Form 990 Summary

1. Download the 2008 IRS Form 990 Summary from the IRS website.
2. Start with the basic information section – include the organization's name, address, and Employer Identification Number (EIN).
3. Fill in the date of the end of the accounting year.
4. Provide a summary of the organization's mission and activities in Part I.
5. Complete Part II by reporting the organization's revenue, expenses, and net assets.
6. In Part III, provide detailed information about the organization's program services, accomplishments, and community impact.
7. Fill out Part IV regarding the organization's governance, including board members and key management personnel.
8. Review the checklist of required schedules and ensure all applicable ones are completed.
9. Sign and date the form at the bottom where indicated.
10. Submit the completed form to the IRS by the filing deadline.

Who needs 2008 IRS Form 990 Summary?

1. Tax-exempt organizations with gross receipts of $200,000 or more and/or total assets of $500,000 or more must file Form 990.
2. Organizations seeking donations from tax-exempt status individuals or entities might also need to submit this form.
3. Foundations and non-profit organizations that have to comply with federal regulations will require this form.

People Also Ask about

What is the summary of the 990?

Your Form 990 should include your organization's mission statement, all financial data, a summary of activities, specifics of your nonprofit's governing body, and your organization's accomplishments from the prior year.

Where to find 990s for nonprofits?

Candid's 990 Finder provides the most recent publicly available 990s from the IRS, and the IRS is significantly delayed in processing nonprofit filings so documents available here may not be the most recent an organization has filed.

Are IRS 990 forms public record?

An exempt organization must make available for public inspection its annual information return (e.g., Form 990, Form 990-EZ). Returns must be available for a three-year period beginning with the due date of the return (including any extension of time for filing) or, if later, the date it is actually filed.

What three areas are expenses divided into on Form 990?

Part IX of Form 990 requires those expenditures to be broken down into three classes: 1) program service expenses, 2) management and general expenses, and 3) fundraising expenses.

What two categories are expenses divided into on an income statement for a merchandising business?

The fundraiser should also be reported on Part VIII of the 990 – The Statement of Revenue. Using the example above, $30,000 should be reflected on Line 1c, and $10,000 should be on Line 8a.

Where are program expenses on 990?

In addition, the Expenses section of Part I permits the reader of the Form 990 to quickly find out what proportions of total expenses are made up by the three functional categories of expenses that are elicited by the form, namely, program (Line 13), management (Line 14) and fundraising (Line 15) expenses.

How do you categorize nonprofit expenses?

Nonprofit expenses can fall into one or more of these categories: functional, operational, administrative, development, fixed, and variable costs.

For pdfFiller’s FAQs

What is 2008 IRS Form 990 Summary?

The 2008 IRS Form 990 Summary is a tax form that provides a summary of an organization's financial activities for the year, including revenue, expenses, and net assets. It is specifically designed for tax-exempt organizations to report their financial information to the IRS.

Who is required to file 2008 IRS Form 990 Summary?

Tax-exempt organizations with gross receipts over a certain threshold, normally $200,000, or total assets over $500,000, are required to file Form 990. Additionally, some smaller organizations may be required to file Form 990-EZ or Form 990-N.

How to fill out 2008 IRS Form 990 Summary?

To fill out 2008 IRS Form 990 Summary, begin by gathering financial records including income statements, balance sheets, and other relevant documents. Follow the form's guidelines step-by-step, providing information on revenues, expenses, program service accomplishments, and governance. It's advisable to consult with a tax professional if needed.

What is the purpose of 2008 IRS Form 990 Summary?

The purpose of the 2008 IRS Form 990 Summary is to ensure transparency and accountability among tax-exempt organizations. It allows the IRS and the public to assess the financial health and operational integrity of these organizations.

What information must be reported on 2008 IRS Form 990 Summary?

The information that must be reported on 2008 IRS Form 990 Summary includes details such as the organization’s mission, governance structure, financial statements, revenue and expense categories, executive compensation, and other significant modifications or activities undertaken during the year.