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This document summarizes the financial activities and status of The LAMB Institute for the year 2014, highlighting its mission to empower those in poverty and support community services in Honduras.
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What is form 990?
Form 990 is an annual reporting return that certain tax-exempt organizations, non-exempt charitable trusts, and section 527 political organizations must file with the IRS. It provides 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 certain other tax-exempt organizations with gross receipts above a certain threshold, are required to file Form 990.
How to fill out form 990?
To fill out Form 990, organizations must gather financial information, including income, expenses, assets, and liabilities. The form requires detailed reporting on the organization's activities, governance, and compliance with public charity requirements. It is recommended to seek assistance from a tax professional or accountant familiar with nonprofit reporting.
What is the purpose of form 990?
The purpose of Form 990 is to provide transparency to the public and the IRS regarding the financial activities and management of tax-exempt organizations. It helps ensure that these organizations are operating for charitable purposes and complying with tax regulations.
What information must be reported on form 990?
Form 990 requires organizations to report information such as revenue, expenses, program service accomplishments, governance structure, compensation of officers and directors, and any significant changes in operations or finances.
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