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PUBLIC DISCLOSURE COPY Form 990 OMB No. 1545-0047 Return of Organization Exempt From Income Tax 2011 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit

How to fill out return of organization exempt

How to fill out return of organization exempt:

1. Obtain Form 990: Start by obtaining the Form 990, which is the Return of Organization Exempt from Income Tax. This form is used by tax-exempt organizations to report their financial activities to the Internal Revenue Service (IRS).
2. Gather necessary information: Before filling out the form, gather all the necessary information, including the organization's financial records, income and expenses statements, and other relevant documents. This will help ensure accurate reporting on the form.
3. Fill in basic information: Begin by providing basic information about the organization, such as its name, address, EIN (Employer Identification Number), gross receipts, and fiscal year. This information helps the IRS identify the organization and track its financial activities.
4. Complete the organizational overview: The next section requires providing an overview of the organization's mission, activities, and governance structure. This includes describing the purpose of the organization, its programs and services, and details about its board of directors or trustees.
5. Report revenue and expenses: In this section, report the organization's revenue and expenses for the fiscal year being reported. This includes detailing different sources of income, such as donations, grants, program service revenue, and investment income. Also, provide specific information about the organization's expenses, including program expenses, administrative expenses, and fundraising costs.
6. Provide additional financial information: The form may ask for additional financial information based on the organization's activities. This may include reporting on any public support received, fundraising events conducted, or foreign financial accounts held by the organization.
7. Complete the balance sheet and other schedules: Fill out the balance sheet section, providing details about the organization's assets, liabilities, and net assets or fund balances. Depending on the organization's activities, additional schedules may need to be completed, providing more detailed information about specific aspects of its financial operations.
8. Sign and submit the form: Review the completed form for accuracy, sign it, and attach any required schedules or supporting documents. Send the form to the appropriate IRS address by the due date.

Who needs return of organization exempt:

1. Nonprofit organizations: Nonprofit organizations, including charitable, religious, educational, and scientific organizations, may need to file a return of organization exempt. The requirement depends on their annual gross receipts and asset balance.
2. Tax-exempt organizations: Organizations that have been granted tax-exempt status by the IRS, such as those classified under Section 501(c)(3) of the Internal Revenue Code, generally need to file this return. This includes organizations like charities, foundations, and certain religious groups.
3. Small exempt organizations: Even small exempt organizations, whose annual gross receipts are normally less than $50,000, are required to file the Form 990-N, also known as the e-Postcard. This simplified version of the return helps the IRS track basic information about these organizations.

Remember, it is important to consult with a tax professional or refer to the IRS website for specific guidelines and requirements related to filling out the return of organization exempt form.

For pdfFiller’s FAQs

What is return of organization exempt?

Return of organization exempt is a form that certain tax-exempt organizations must file with the IRS to maintain their tax-exempt status.

Who is required to file return of organization exempt?

Certain tax-exempt organizations, such as 501(c)(3) organizations, are required to file return of organization exempt with the IRS.

How to fill out return of organization exempt?

Return of organization exempt can be filled out either electronically using the IRS e-file system or by completing the paper form and mailing it to the IRS.

What is the purpose of return of organization exempt?

The purpose of return of organization exempt is to provide the IRS with information about the organization's activities, finances, and compliance with tax-exempt requirements.

What information must be reported on return of organization exempt?

The return of organization exempt typically requires information about the organization's income, expenses, assets, governance, and certain activities.

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