Get the free Form 990

This document presents the financial information, governance, and activities of the Lee College Foundation, Inc. for the year ending August 31, 2019. It includes details on the organization\'s mission, tax-exempt status, contributions received, expenses incurred, and overall financial health, as well as governance practices and compliance with federal tax regulations.

How to fill out form 990

How to fill out form 990

1. Gather your organization’s financial records, including income, expenses, and balance sheets.
2. Determine your organization’s fiscal year and ensure all financial data corresponds to it.
3. Fill out the basic information section, including the organization's name, address, and EIN.
4. Provide details on your organization’s governance structure, including the board of directors.
5. Complete the revenue section by detailing all income sources, including grants, donations, and sales.
6. Record expenses in the appropriate categories, like program services, management, and fundraising.
7. Complete the balance sheet to present the organization’s assets, liabilities, and net assets.
8. Answer the additional questions related to compliance and operations.
9. Review the completed form for accuracy and completeness.
10. Submit the form electronically or by mail to the IRS by the appropriate deadline.

Who needs form 990?

1. Nonprofit organizations with annual gross receipts of $200,000 or more.
2. Nonprofit organizations with total assets of $500,000 or more at the end of the tax year.
3. Certain charitable organizations that want to maintain their tax-exempt status.
4. Private foundations and other exempt organizations as required by IRS regulations.

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What is form 990?

Form 990 is an annual information return that many tax-exempt organizations in the United States are required to file with the IRS. It provides transparency about the organization's financial activities and operations.

Who is required to file form 990?

Most tax-exempt organizations, including charities and nonprofit organizations with annual gross receipts of $200,000 or more, or total assets of $500,000 or more, are required to file Form 990.

How to fill out form 990?

Form 990 can be filled out using either paper forms or electronic filing via the IRS e-file system. Organizations must provide detailed financial information, including revenues, expenses, functional expenses, and a balance sheet.

What is the purpose of form 990?

The purpose of Form 990 is to provide public transparency into the financial activities of tax-exempt organizations, holding them accountable for their operations, and ensuring they comply with IRS regulations.

What information must be reported on form 990?

Form 990 requires reporting of the organization's revenue, expenses, assets, liabilities, changes in net assets, compensation of highest-paid employees, and compliance with public disclosure requirements.