Get the free Form 990 - Virginia Association of Museums - vamuseums

60001 11/18/2013 9:27 AM Form 990 Return of Organization Exempt From Income Tax Department of the Treasury Internal Revenue Service A For the 2012 calendar year, or tax year beginning B Check if applicable:

How to fill out form 990 - virginia

How to fill out form 990 - Virginia?

1. Obtain the necessary form: The form 990 is available on the official website of the Virginia Department of Taxation. You can download and print the form from their website.
2. Gather the required information: Before filling out the form, gather all the necessary information such as the organization's name, address, Employer Identification Number (EIN), financial data, program activities, and any other relevant information required by the form.
3. Fill in Part I: Provide details about the organization's basic information, including its name, address, EIN, accounting method, and tax year.
4. Complete Part II: This section asks for information about the organization's activities, such as the nature of its charitable programs and expenses.
5. Fill out Part III: Provide financial information for the tax year, including revenue, expenses, and any balances carried forward from previous years.
6. Complete Schedule A: Schedule A requires organizations to provide information about their public charity status and any supporting documents, such as the organization's mission statement and details of its activities.
7. Fill out Schedule B: This schedule should be completed if the organization received contributions over a certain threshold during the tax year. Provide details of each substantial contribution received.
8. Complete other applicable schedules: Depending on the organization's activities and financial transactions, there may be additional schedules to complete, such as Schedule C for political campaign activity or Schedule G for fundraising events.
9. Review and sign the form: Carefully review all the information provided on the form, ensure its accuracy, and sign the form where indicated.
10. Retain a copy: Keep a copy of the completed form, along with any supporting documents, for your records.

Who needs form 990 - Virginia?

1. Nonprofit organizations: Nonprofit organizations in Virginia are required to file the form 990 if they have a gross revenue of $200,000 or more, or if their total assets exceed $500,000.
2. Charitable organizations: Charitable organizations that are exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code must also file the form 990 with the Virginia Department of Taxation.
3. Other exempt organizations: Certain other exempt organizations, such as religious organizations, educational institutions, and political organizations, may also be required to file the form 990 depending on their revenues and assets.

It is important to note that the requirements for filing the form 990 may vary depending on the specific circumstances of the organization, so it is advisable to consult with a tax professional or the Virginia Department of Taxation for specific guidance.

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