Get the free IRS Form 990 for 2009 - The Community Foundation - commfound

31 Aug 2010 ... b Net unrelated business taxable income from Form 990-T, line 34. .... BOULDER, CO 80302-4001. X. X. 3. WWW.COMPOUND.ORG. X. 1991. CO .... Form 990 (2009). 12 Did the organization

How to fill out irs form 990 for

How to fill out IRS Form 990:

1. Gather all necessary information and documents: Before starting to fill out IRS Form 990, make sure you have all the required information and documents in front of you. This may include financial statements, organizational details, and supporting schedules.
2. Provide basic organizational details: Start by providing basic details about the organization, such as its name, address, and employer identification number (EIN). This information helps the IRS identify the organization and associate it with the correct tax return.
3. Provide an overview of the organization's activities: Describe the organization's mission and activities in a clear and concise manner. This section allows the IRS to understand the purpose of the organization and its impact on the community.
4. Report revenues and expenses: Provide accurate details regarding the organization's revenues, such as grants, donations, program service fees, and investment income. Additionally, report the organization's expenses, including program expenses, management and general expenses, and fundraising expenses.
5. Disclose details about key personnel: Provide information about the organization's officers, directors, and other key personnel. This section requires details such as names, titles, compensation, and hours worked. It helps ensure transparency and provides insight into the organization's leadership structure.
6. Report on the organization's governance and policies: Describe the organization's governance policies and procedures, including conflict of interest policies, whistleblower policies, and document retention policies. This section helps demonstrate the organization's commitment to ethical practices and accountability.
7. Provide additional schedules and attachments: IRS Form 990 may require additional schedules and attachments, depending on the organization's activities and financial situation. Examples may include Schedule A for public charities, Schedule D for certain financial transactions, and Schedule O for narrative explanations.

Who needs IRS Form 990:

1. Nonprofit Organizations: IRS Form 990 is primarily designed for tax-exempt nonprofit organizations, including charities, educational institutions, religious organizations, social and civic leagues, and many others. These organizations must file Form 990 annually to report their financial information to the IRS.
2. Small Tax-Exempt Organizations: In general, tax-exempt organizations with gross receipts less than or equal to $200,000 and total assets less than or equal to $500,000 can file a simpler version of Form 990, known as Form 990-EZ.
3. Private Foundations: Private foundations, regardless of their size, must file IRS Form 990-PF annually. This form specifically focuses on the financial activities and distributions of private foundations.
4. Certain Political Organizations: Certain political organizations, such as political action committees (PACs) and organizations engaging in political campaign activities, may also be required to file IRS Form 990 or its variants, depending on their activities and tax-exempt status.

It is important to consult with a tax professional or refer to the IRS instructions specific to your organization's situation to ensure accurate and timely filing of IRS Form 990.

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