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Explore the 2023 Form 990 detailing Meals on Wheels New Mexico\'s tax-exempt status, financials, and mission to nourish and connect communities.
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What is form 990?
Form 990 is an annual reporting return that certain tax-exempt organizations must file with the Internal Revenue Service (IRS). It provides information on the organization's mission, programs, and finances.
Who is required to file form 990?
Most tax-exempt organizations, including charities and nonprofits with gross receipts over $200,000 or total assets over $500,000, are required to file Form 990. Smaller organizations may file Form 990-EZ or Form 990-N instead.
How to fill out form 990?
To fill out Form 990, organizations need to provide detailed financial information, including income, expenses, and net assets. They must also include information about their governance, programs, and operational activities. Instructions provided by the IRS should be followed closely.
What is the purpose of form 990?
The purpose of Form 990 is to promote transparency and provide the IRS and the public with information about the organization’s finances and operations, ensuring compliance with federal regulations.
What information must be reported on form 990?
Form 990 requires reporting on revenue, expenses, net assets, governance practices, program achievements, and any compensation for the highest-paid employees and board members.
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