Get the free 1998 Form 990

Form OMB No. 1545-0047 990 Return of Organization Exempt From Income Tax 1998 Under section 501(c) of the Internal Revenue Code (except black lung benefit trust or private foundation) or section 4947(a)(1)

How to fill out 1998 form 990

How to fill out 1998 form 990:

1. Start by gathering all necessary information and documents such as the organization's financial records, income statements, balance sheets, and other relevant financial documents.
2. Begin with the identification section of the form, which includes the name and address of the organization, employer identification number (EIN), tax year, and contact information.
3. Proceed to Part I, which requires providing information about the organization's mission, programs, and accomplishments during the tax year. This section may also ask for details about the organization's governing body and any significant changes in its operations.
4. Move on to Part II, where you will report information relating to the organization's revenue and expenses. This includes detailing various sources of revenue such as contributions, grants, program service revenue, and investment income. Additionally, you will need to outline the organization's expenses, including program services, management and general expenses, and fundraising costs.
5. Part III requires reporting the organization's total assets, liabilities, and net assets. Here, you will provide a breakdown of the organization's assets and liabilities at the beginning and end of the tax year. It may also ask for details on any loans, mortgages, or other debts.
6. Next, complete Part IV, which focuses on the organization's governing body and management. This section asks for information about the officers, directors, trustees, key employees, and their compensation. It is crucial to accurately report any financial arrangements, loans, or potential conflicts of interest.
7. Proceed to Part V, where you must disclose whether the organization underwent significant changes during the tax year. This includes changes to its organizing or governing document, operational structure, or activities.
8. Finally, review the form thoroughly, ensuring all information provided is accurate and complete. Sign and date the form, along with any required attachments, and retain a copy for your records.

Who needs 1998 form 990:

1. Nonprofit organizations: 1998 form 990 is primarily required to be filed by tax-exempt organizations recognized under section 501(c) of the Internal Revenue Code. This includes charities, foundations, religious organizations, educational institutions, and other nonprofit entities.
2. Organizations with gross receipts above a certain threshold: In 1998, organizations with gross receipts exceeding $25,000 were generally required to file form 990. However, certain types of organizations may be exempt from filing based on their size or nature of activities. It is essential to consult the instructions or seek professional advice to determine whether your specific organization needs to file.
3. Publicly available information: Form 990 also serves as a tool for transparency and public disclosure. It allows the public, donors, and stakeholders to review an organization's financial information, governance, and accountability. This promotes transparency in the nonprofit sector and helps maintain public trust.

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What is form 990?

Form 990 is a tax form used by tax-exempt organizations to provide the IRS with information on their activities, finances, and governance.

Who is required to file form 990?

Most tax-exempt organizations are required to file form 990, including charities, foundations, and other types of nonprofit organizations.

How to fill out form 990?

Form 990 can be filled out electronically using tax preparation software or by hiring a tax professional familiar with nonprofit tax laws.

What is the purpose of form 990?

The purpose of form 990 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 form 990?

Form 990 requires information on the organization's revenue, expenses, assets, liabilities, and key personnel.