Get the free Form 990-EZ1 - Foundation Center

630547649 04/172014 246 PM Pg 3 Short Form Return of Organization Exempt From Income Tax Form 990-EZ1 0 MB No 1545-1150 2013 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code

How to fill out form 990-ez1 - foundation

How to Fill out Form 990-EZ1 - Foundation?

Step 1: Gather Required Information

Before you start filling out Form 990-EZ1 - Foundation, ensure that you have all the necessary information handy. This may include details about your organization such as its name, address, Employer Identification Number (EIN), and the tax year for which you are filing the form.

Step 2: Provide Basic Information

On the form, you will find sections where you need to enter basic information about your foundation. This includes your organization's name, address, and contact details. Make sure to double-check the accuracy of the information you provide.

Step 3: Describe Your Organization's Activities

In this section, you will need to provide a brief description of your foundation's activities. Explain the purpose of your organization and the programs or services it offers. Be concise but comprehensive in conveying the scope and impact of your foundation's work.

Step 4: Report Financial Information

Form 990-EZ1 - Foundation requires you to report financial information about your organization. This includes details about your revenue, expenses, assets, and liabilities. Carefully review your financial records and accurately fill in the appropriate sections of the form.

Step 5: Provide Details on Governance

You will also need to provide information on your foundation's governance structure. This may include details about your board of directors, key officers, and any related parties involved. Ensure that you include all relevant information and disclose any potential conflicts of interest.

Step 6: Complete Required Schedules

Depending on your organization's activities and financial situation, you may need to complete certain schedules that provide additional details. Be sure to carefully review these schedules and accurately fill them out if they apply to your foundation.

Who Needs Form 990-EZ1 - Foundation?

Form 990-EZ1 - Foundation is primarily used by tax-exempt organizations to fulfill their annual reporting requirements. It is specifically designed for small to mid-sized foundations that generate a modest amount of revenue and have relatively simple financial structures.

Nonprofit organizations exempt from income tax under section 501(c)(3) and private foundations with gross receipts less than $200,000 or total assets less than $500,000 can generally use Form 990-EZ1 instead of the more detailed Form 990. However, it is essential to review the instructions or consult with a tax professional to determine if your organization is eligible to use this form.

Remember, accurately completing and timely filing Form 990-EZ1 - Foundation is crucial to maintaining your organization's tax-exempt status and ensuring compliance with IRS regulations. It's advisable to consult with a tax professional or utilize tax preparation software to ensure the proper completion of the form and adherence to all reporting requirements.

For pdfFiller’s FAQs

What is form 990-ez1 - foundation?

Form 990-EZ is a shorter version of Form 990 for organizations that gross less than $200,000 and have total assets less than $500,000 at the end of the tax year.

Who is required to file form 990-ez1 - foundation?

Nonprofit organizations with gross receipts of less than $200,000 and total assets less than $500,000 at the end of the tax year are required to file Form 990-EZ.

How to fill out form 990-ez1 - foundation?

Form 990-EZ can be filled out by providing information about the organization's mission, activities, governance, financial information, and compensation of officers, directors, trustees, key employees, and highest compensated employees.

What is the purpose of form 990-ez1 - foundation?

The purpose of Form 990-EZ is to provide the IRS and the public with information about the organization's mission, programs, and finances.

What information must be reported on form 990-ez1 - foundation?

Form 990-EZ requires information about the organization's mission, programs, governance, financial information, and compensation of key individuals.

How can I send form 990-ez1 - foundation to be eSigned by others?

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