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This document is the Form 990 for Gibson Electric Membership for the tax year 2023, which outlines the organization\'s financial activities including revenue sources, taxes, and governance information. It includes details about contributions, expenses, and programs run by the organization, which operates as an electric cooperative serving northwest Tennessee and southwest Kentucky.

How to fill out form 990

How to fill out form 990

1. Gather the organization's financial statements, including income statements and balance sheets.
2. Collect information about the organization’s mission, activities, and accomplishments for the year.
3. Complete the basic information section, including the organization's name, address, and EIN.
4. Fill out the revenue section, detailing all income sources for the year.
5. Document expenses by breaking them down into specific categories.
6. Report on the organization’s net assets and any changes in net assets.
7. Provide information related to governance, including board member details and policies.
8. Double-check information for accuracy and ensure that all required schedules are completed.
9. Sign and date the form before filing it with the IRS.

Who needs form 990?

1. Non-profit organizations with gross receipts of $200,000 or more or total assets of $500,000 or more.
2. Smaller non-profit organizations that fall under the requirements to file a 990-EZ.
3. All tax-exempt organizations must file Form 990 if they have annual gross receipts over a certain threshold.

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What is form 990?

Form 990 is an informational tax form that nonprofit organizations in the United States must file with the IRS annually. It provides a public record of the organization's financial information, activities, and governance.

Who is required to file form 990?

Nonprofit organizations with gross receipts over $200,000 or total assets over $500,000 at the end of the year must file Form 990. Smaller organizations may be eligible to file Form 990-EZ or Form 990-N.

How to fill out form 990?

Form 990 can be filled out using the IRS's provided instructions, which guide users through each section. Organizations can either complete it online through IRS-approved software or manually fill out paper forms, ensuring all required information is included.

What is the purpose of form 990?

The purpose of Form 990 is to provide transparency and accountability for nonprofit organizations, enabling the IRS and the public to review the organization's financial health and operational activities.

What information must be reported on form 990?

Form 990 requires reporting on financial statements, governance, compliance with tax laws, compensation of key employees, program services, contributions, grants, and other operational details.