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This document is the Form 990 for the Limelight Foundation, detailing its mission, revenue, and expenses for 2022. It discusses the organization\'s activities and financial status to ensure compliance with IRS requirements.
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What is form 990?
Form 990 is a tax form used by tax-exempt organizations to provide the Internal Revenue Service (IRS) with information about their financial activities, governance, and compliance with tax laws.
Who is required to file form 990?
Most tax-exempt organizations, including charities and non-profits with annual gross receipts over $200,000 or total assets over $500,000, are required to file Form 990. Smaller organizations may file a simplified version called Form 990-EZ or Form 990-N.
How to fill out form 990?
Form 990 can be filled out by gathering the organization's financial records and information about its programs, expenses, and governance. The form should be completed according to the instructions provided by the IRS and can be filed electronically or by mail.
What is the purpose of form 990?
The purpose of Form 990 is to provide transparency and accountability for tax-exempt organizations by detailing their financial information, management practices, and program activities. This helps the public, donors, and the IRS evaluate the organization's compliance with tax laws.
What information must be reported on form 990?
Information required on Form 990 includes the organization's mission, programs, financial statements, compensation of key employees, governance structure, and detailed reporting of contributions and expenses.
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