Get the free 2010 990 Report - Community Foundation of Boone County - communityfoundationbc

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

How to fill out 2010 990 report

How to fill out a 2010 990 report:

1. Start by gathering all necessary financial information for the year 2010, including your organization's income, expenses, assets, and liabilities.
2. Open the 2010 990 report form, which is available on the Internal Revenue Service (IRS) website or through tax software applications that support nonprofit tax filing.
3. Begin filling out the form by providing general information about your organization, such as its name, address, and employer identification number (EIN).
4. Proceed to Part I of the form, which requires information about your organization's mission, accomplishments, and any changes that occurred during 2010. Provide a detailed description of your programs, activities, and goals.
5. Move on to Part II, which focuses on governance, management, and disclosure. Answer questions about board composition, conflicts of interest policies, and whether your organization made its documents (such as Form 1023) available to the public.
6. Complete Part III, which addresses your organization's statement of programs and achievements. Describe the activities you conducted during 2010 and provide details about your beneficiaries.
7. Fill out Part IV, which requires information about your organization's compensation practices. Report the salaries and other compensations of key individuals in your organization, such as officers, directors, and highly paid employees.
8. Proceed to Part V, where you'll report the highest compensated independent contractors your organization worked with during 2010. Provide details about the services they provided and the amounts they were paid.
9. Move on to Part VI, which focuses on your organization's governance, management, and disclosure. Answer questions about conflicts of interest, document retention and destruction policies, and any changes in organization structure.
10. Complete Part VII, providing information regarding your organization's financial statements. Include details about your revenue, expenses, assets, liabilities, and net assets for the year 2010.
11. Review the completed form for accuracy, making sure that all required fields are filled out correctly. Check for any arithmetic errors, as accuracy is crucial for tax filing purposes.
12. Sign and date the form, certifying that the information provided is accurate to the best of your knowledge.

Who needs a 2010 990 report:

1. Nonprofit organizations that possess a tax-exempt status under section 501(c) of the Internal Revenue Code need to file a 2010 990 report. This includes charities, foundations, religious organizations, educational institutions, and other nonprofit entities.
2. Any nonprofit organization with gross receipts exceeding $200,000 or total assets above $500,000 at the end of the tax year must file a 2010 990 report.
3. It is important to note that different types of nonprofits may have varying reporting requirements, so it is advisable to consult the IRS guidelines or seek professional advice to determine your specific filing obligations.

For pdfFiller’s FAQs

What is 990 report - community?

The 990 report - community is a form that tax-exempt organizations file with the IRS to provide information about their finances and activities.

Who is required to file 990 report - community?

Nonprofit organizations that are classified as tax-exempt under section 501(c)(3) of the Internal Revenue Code are required to file a 990 report - community.

How to fill out 990 report - community?

To fill out a 990 report - community, organizations must provide detailed information about their finances, governance, and activities for the year.

What is the purpose of 990 report - community?

The purpose of the 990 report - community is to provide transparency and accountability for tax-exempt organizations, and to ensure they are operating in accordance with their tax-exempt status.

What information must be reported on 990 report - community?

The 990 report - community requires organizations to report on their revenue, expenses, assets, liabilities, activities, and governance structure.

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