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T. E. A. M. Voice Newsletter February 2012 4560 LEGTA King Road Glasgow, Kentucky 42141 Established in The Commonwealth of Kentucky February 1989 www.go2mjm.com A Word from your chairperson: Love,
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TEAM stands for Tax Exempt Organization Annual Information Return. It is a form that tax-exempt organizations must file with the IRS to provide information about their finances and operations.
Tax-exempt organizations such as charities, religious organizations, and other nonprofits are required to file Form 990 with the IRS.
Form 990 can be filled out electronically using tax software or by hand. Organizations must provide information about their income, expenses, programs, and governance.
The purpose of Form 990 is to provide transparency and accountability for tax-exempt organizations. It allows the IRS and stakeholders to review the organization's finances and operations.
Form 990 requires organizations to report their revenue, expenses, program activities, executive compensation, and governance structure.
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