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Detailed financial and operational information for Youth Tennis Advantage, a nonprofit aiming to empower underprivileged youth through tennis and life skills programs. Includes revenue, expenses, and governance details.
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What is form 990?
Form 990 is an annual reporting return that tax-exempt organizations must file with the IRS. It provides transparency about the organization's operations, finances, and compliance with tax regulations.
Who is required to file form 990?
Nonprofit organizations that are recognized as tax-exempt under Section 501(c) of the Internal Revenue Code are typically required to file Form 990. This includes public charities, private foundations, and other types of tax-exempt entities.
How to fill out form 990?
Form 990 can be filled out using paper forms or through electronic filing. Organizations must provide detailed information about their mission, programs, finances, and governance. It is advisable to consult instructions provided by the IRS and seek the assistance of an accountant or tax professional if needed.
What is the purpose of form 990?
The purpose of Form 990 is to promote transparency and accountability among tax-exempt organizations. It provides the IRS and the public with information about the organization's finances, governance, and compliance with tax laws.
What information must be reported on form 990?
Form 990 requires organizations to report information such as their mission statement, revenue, expenses, program service accomplishments, governance structures, and compensation of key employees and board members.
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