Get the free Forms 990 990-EZ Return Summary - Hampton Historical Society - hamptonhistoricalsociety

7002 9:17 AM Forms 990 / 990EZ Return Summary For calendar year 2009, or tax year beginning 11/01/09, and ending 10/31/10 026013170 HAMPTON HISTORICAL SOCIETY 198,638 Net Asset / Fund Balance at Beginning

How to fill out forms 990 990-ez return

How to fill out Forms 990 and 990-EZ return?

1. Obtain the necessary forms: Start by obtaining the Forms 990 and 990-EZ from the Internal Revenue Service (IRS) website or by requesting them through mail.
2. Gather required information: Collect all relevant financial and organizational information, including your organization's financial statements, revenue and expense details, assets and liabilities, and details about your programs and activities.
3. Review the instructions: Carefully review the instructions provided with the forms to understand the specific requirements and guidelines for filling them out. Pay attention to the different parts and schedules involved.
4. Enter basic organization details: Start by providing basic information about your organization, such as its name, address, and EIN (Employer Identification Number).
5. Complete Part I: In Part I of the form, you will need to provide details about your organization's income, expenses, assets, and liabilities. This section requires you to categorize different revenue streams, such as program service revenue, contributions, and investment income.
6. Fill out Part II: Part II focuses on your organization's activities and governance. It requires you to provide information about your programs, beneficiaries, and governance structure.
7. Complete Part III: This section requires you to describe in detail the mission and accomplishments of your organization during the tax year. Emphasize any significant achievements and provide an overview of your programs and activities.
8. Include required schedules: Depending on your organization's financial activities and transactions, you may need to include additional schedules with specific details. Make sure to review the instructions to determine which schedules are required for your organization.
9. Review and sign: Thoroughly review the completed forms to ensure accuracy and completeness. If applicable, have them reviewed by a qualified tax professional. Once satisfied, sign the forms and include the necessary contact information.

Who needs Forms 990 and 990-EZ return?

1. Nonprofit organizations: Nonprofit organizations classified as tax-exempt under section 501(c)(3) of the Internal Revenue Code are generally required to file either Form 990 or Form 990-EZ. These forms provide the IRS with information about the organization's finances, activities, and governance.
2. Charitable organizations: Charitable organizations, including foundations, public charities, and religious organizations, often fall under the 501(c)(3) category and must file Forms 990 or 990-EZ.
3. Organizations with significant revenue: If your organization has gross receipts of $200,000 or more, or total assets of $500,000 or more at the end of the tax year, you will typically be required to file Form 990 instead of Form 990-EZ.
4. Small organizations: Nonprofit organizations that do not meet the revenue and asset thresholds mentioned above may be eligible to file the shorter and simpler Form 990-EZ.

Remember, it's important to consult the IRS guidelines and seek professional advice if you are unsure about your organization's filing requirements or how to accurately complete the forms.

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What is forms 990 990-ez return?

Forms 990 and 990-EZ are annual information returns that certain tax-exempt organizations must file with the IRS.

Who is required to file forms 990 990-ez return?

Tax-exempt organizations with gross receipts of $200,000 or assets of $500,000 are generally required to file either Form 990 or Form 990-EZ.

How to fill out forms 990 990-ez return?

Forms 990 and 990-EZ require organizations to report financial information, governance, and activities for the tax year.

What is the purpose of forms 990 990-ez return?

The purpose of forms 990 and 990-EZ is to provide the IRS and the public with information about a tax-exempt organization's mission, programs, and finances.

What information must be reported on forms 990 990-ez return?

Information such as revenue, expenses, grants, salaries, and governance structure must be reported on forms 990 and 990-EZ.