Get the free IRS Form 990 - The Community Foundation for Northern Virginia - cfnova

OMB No. 1545-0047 Form Return of Organization Exempt From Income Tax I Department of the Treasury Internal Revenue Service 07/01, 2011, and ending Name of organization THE COMMUNITY FOUNDATION FOR

How to fill out irs form 990

How to Fill out IRS Form 990:

1. Gather all necessary information and documentation before starting the process. This includes your organization's financial records, board composition, program descriptions, and other relevant details.
2. Begin filling out the form by entering your organization's name, address, and EIN (Employer Identification Number) at the top of the form.
3. Provide a brief description of the organization's mission and activities in Part I, followed by selecting the appropriate checkboxes that pertain to your organization's specific type and exemption status.
4. Complete Part II by answering questions related to the organization's governance, management, and policies, such as the number of voting members on the board and any conflicts of interest policies in place.
5. Move on to Part III, where you will report your organization's program service accomplishments, including providing details on your significant activities, expenses, and fundraising activities.
6. In Part IV, report your organization's revenue, expenses, and net assets for the year. This will involve providing detailed information about various sources of income, such as contributions, grants, program service revenue, and investment income.
7. If your organization files Schedule B, you will need to complete Part V, which asks for information about contributors who made significant donations during the year.
8. Provide additional details about your organization's operations and compliance in Parts VI through IX. This includes reporting any political campaign and lobbying activities, changes in organizational structure, and information on your annual financial statements.
9. Review the completed form thoroughly, ensuring that all required sections have been filled accurately. Make sure to sign and date the form before submitting it to the IRS.
10. Keep a copy of the completed form and all supporting documentation for your records.

Who Needs IRS Form 990?

1. Non-profit organizations recognized as tax-exempt under section 501(c)(3) of the Internal Revenue Code are generally required to file IRS Form 990. This includes public charities, private foundations, religious organizations, educational institutions, and other types of tax-exempt organizations.
2. Organizations with gross receipts exceeding $200,000 or total assets exceeding $500,000 are required to file Form 990. However, smaller organizations may still be required to file Form 990-EZ or Form 990-N, depending on their financial situation.
3. Filing IRS Form 990 is not limited to national organizations; it applies to organizations at both the federal and state levels, ensuring transparency and accountability in their operations.

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