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Form 990 for Wesleyan University detailing financial activities, governance, and tax-exempt status for the calendar year 2022. Open for public inspection.
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What is form 990?
Form 990 is an annual reporting return that certain federally tax-exempt organizations must file with the IRS. It provides detailed information about the organization's mission, programs, and finances.
Who is required to file form 990?
Organizations that are tax-exempt under section 501(c)(3) of the Internal Revenue Code, as well as some other types of tax-exempt organizations, are required to file Form 990 if their gross receipts exceed $200,000 or their total assets exceed $500,000.
How to fill out form 990?
To fill out Form 990, organizations must gather financial information, including revenue, expenses, and assets. The form includes sections about the organization's governance, programs, and finances. Detailed instructions on how to fill out each section are provided by the IRS.
What is the purpose of form 990?
The purpose of Form 990 is to provide transparency to the public and to the IRS regarding the operations and finances of tax-exempt organizations. It helps the IRS ensure compliance with tax laws and allows the public to evaluate the financial health and activities of non-profits.
What information must be reported on form 990?
Form 990 requires reporting of various information including the organization's mission, a summary of its programs, financial statements including revenue and expenses, compensation of top officials, and details on governance and compliance.
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