Get the free B2012 Formb 990 - Chicago Asthma Consortium

10CHICAASTH 08×08/2013 1:14 PM Form 990EZ Department of the Treasury Internal Revenue Service A Short Form Return of Organization Exempt From Income Tax Under section 501×c), 527, or 4947×a)(1)

How to fill out b2012 formb 990

How to Fill out Form 990?

1. Gather necessary information: Before starting to fill out the form 990, it is important to gather all the relevant information. This includes details about the organization's finances, activities, programs, and governance. Make sure you have accurate and up-to-date information available.
2. Begin with the basic information: The form 990 requires you to provide basic information about the organization, such as its name, address, Employer Identification Number (EIN), and the fiscal year for which the form is being filed. Ensure that these details are correctly filled out.
3. Complete Part I: Part I of the form covers the Summary section. This section includes questions about the organization's mission, primary exempt purpose, and its accomplishments during the fiscal year. Answer these questions accurately and concisely.
4. Provide financial information: Part II of the form requires the organization to provide financial information, including revenue, expenses, assets, and liabilities. It is crucial to accurately report all financial data, as this section provides a clear picture of the organization's financial health.
5. Submit schedules, if necessary: Part III of the form includes various schedules that may be required depending on the organization's activities and financial transactions. These schedules provide additional details on specific areas such as compensation, fundraising, and lobbying. If any of these schedules apply to your organization, ensure you complete them accurately.
6. Disclose governance and management: Part IV of the form deals with governance and management. It includes questions about the organization's board members, key officers, and policies. Provide the required information honestly and include any necessary attachments or explanations.
7. Answer compliance questions: Part V contains compliance questions related to the organization's activities, policies, and practices. This section aims to ensure that the organization is complying with applicable laws and regulations. Answer these questions accurately, and if necessary, provide any additional explanations or documentation.
8. Review, sign, and file: Once all the sections and schedules are completed, carefully review the entire form for any errors or omissions. Make sure all the information is accurate, consistent, and according to the instructions provided. Sign and date the form before submitting it to the appropriate authority, usually the Internal Revenue Service (IRS).

Who needs Form 990?

1. Tax-exempt organizations: Form 990 is primarily required for tax-exempt organizations, including charities, educational institutions, religious organizations, and certain types of nonprofit organizations. These organizations are required to file this form annually to maintain their tax-exempt status.
2. Financial transparency: Form 990 serves as a tool for promoting financial transparency and accountability within the nonprofit sector. It allows the IRS and the public to gain insights into an organization's financial operations, programs, and governance.
3. Donor and public trust: By disclosing key financial and operational information, Form 990 helps build trust between donors and nonprofit organizations. It allows donors to make informed decisions about their charitable contributions and ensures transparency in how funds are utilized.
4. Government oversight: Form 990 enables government agencies, such as the IRS, to monitor tax-exempt organizations and identify any potential issues or noncompliance with tax laws. This helps maintain the integrity of the nonprofit sector and ensures that organizations are fulfilling their exempt purposes.

Remember, it is essential to consult with a tax professional or seek guidance from the IRS to ensure accurate completion and timely filing of Form 990.

For pdfFiller’s FAQs

What is b2012 formb 990?

The b2012 formb 990 is a tax form used by tax-exempt organizations to provide the IRS with financial information.

Who is required to file b2012 formb 990?

Most tax-exempt organizations are required to file b2012 formb 990, including charities, foundations, and nonprofits.

How to fill out b2012 formb 990?

The b2012 formb 990 can be filled out electronically or by hand, and organizations must provide detailed financial information and other required disclosures.

What is the purpose of b2012 formb 990?

The purpose of b2012 formb 990 is to provide transparency about the finances and activities of tax-exempt organizations.

What information must be reported on b2012 formb 990?

Organizations must report financial information, details about their activities, key employees, and certain transactions.

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