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OMB No. 15450047 Return of Organization Exempt From Income Tax 990 Form 2012 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

How to fill out 990 return of organization

How to Fill out 990 Return of Organization:

1. Gather all necessary information: Start by collecting all the required information and documentation needed to complete the 990 return. This may include financial records, donation receipts, program activity details, and other pertinent information.
2. Provide basic organizational details: Begin filling out the form by providing basic information about your organization, such as its legal name, address, employer identification number (EIN), and contact information.
3. Describe your organization's mission and activities: Briefly outline the purpose and activities of your organization. This should include a clear description of your mission statement and the programs or services you provide.
4. Report financial information: Provide details about your organization's finances, including revenue, expenses, assets, and liabilities. This may involve filling out various sections of the 990 form related to income, grants, fundraising activities, investments, and more.
5. Accurately report executive compensation: Disclose any compensation, benefits, or other payments made to key personnel, such as officers, directors, and highly paid employees. Ensure that the compensation information is accurately reported and compliant with IRS regulations.
6. Provide information about your governing body: Describe the composition of your organization's board of directors or trustees. Include details about their roles, responsibilities, and potential conflicts of interest.
7. Answer additional questions: The 990 form includes various questions that require additional information about your organization's activities, governance, and compliance. Make sure to thoroughly review and respond to these questions as accurately as possible.
8. Review and double-check for accuracy: Before submitting the completed form, review all the information provided to ensure its accuracy and consistency. Mistakes or omissions on the 990 return can lead to delays or potential compliance issues.

Who Needs a 990 Return of Organization:

1. Nonprofit organizations: Nonprofit organizations, including charities, foundations, and certain religious organizations, are generally required to file a 990 return with the IRS. This form provides transparency and accountability regarding their financial activities.
2. Exempt organizations: Most tax-exempt organizations, such as those exempt under section 501(c) of the Internal Revenue Code, are obligated to file an annual 990 return. This includes a wide range of organizations, including educational institutions, hospitals, social welfare organizations, and more.
3. Organizations with significant financial activity: If an organization surpasses a certain threshold of gross receipts or total assets, it must file a 990 return. The specific thresholds vary depending on the organization's size and tax-exempt status.

In conclusion, filing the 990 return of organization requires gathering necessary information, providing organizational details, reporting financial information, describing activities and governance, and answering additional questions. Nonprofit and tax-exempt organizations with significant financial activity are generally required to file this form to ensure transparency and compliance with IRS regulations.

For pdfFiller’s FAQs

What is 990 return of organization?

The 990 return of organization is a form that tax-exempt organizations are required to file with the IRS each year to provide information about their finances and operations.

Who is required to file 990 return of organization?

Most tax-exempt organizations, including charities, religious organizations, and educational institutions, are required to file a 990 return with the IRS.

How to fill out 990 return of organization?

Organizations can fill out the 990 return online or by mail. It is important to carefully review the instructions and gather all necessary financial information before starting the form.

What is the purpose of 990 return of organization?

The purpose of the 990 return is to provide transparency and accountability for tax-exempt organizations, as well as to ensure compliance with federal tax laws.

What information must be reported on 990 return of organization?

The 990 return requires organizations to report financial information such as revenue, expenses, assets, and liabilities, as well as details about their mission, programs, and governance.

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