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Detailed financial and operational insights for the Greater Cedar Rapids Community Foundation, highlighting its philanthropic activities and tax-exempt status for 2022.
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What is form 990?
Form 990 is an annual reporting return that tax-exempt organizations in the United States must file with the IRS. It provides information on the organization's financial status, activities, governance, and compliance with tax laws.
Who is required to file form 990?
Most tax-exempt organizations, including charities, foundations, and certain nonprofit organizations with gross receipts over a specified threshold, are required to file Form 990. Exceptions apply to religious organizations and certain small organizations.
How to fill out form 990?
Form 990 can be filled out using the IRS guidelines provided in the form instructions. Organizations must complete various sections regarding revenue, expenses, governance, and other activities, ensuring accurate documentation and reporting.
What is the purpose of form 990?
The purpose of Form 990 is to provide transparency and accountability for tax-exempt organizations, allowing the IRS and the public to review their financial activities and ensure compliance with tax regulations.
What information must be reported on form 990?
Form 990 requires organizations to report information such as their mission, programs, financial statements, executive compensation, fundraising activities, and compliance with tax regulations.
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