Get the free Form 990

This document is a tax return for the year 2016 for Ingenuity Prep, a public charter school operating in Washington, DC. It provides financial information, including revenue, expenses, and details about the organization\'s tax-exempt status under section 501(c)(3) of the Internal Revenue Code. The form outlines the structure, governance, and financial activities of the organization, including its mission to prepare students for success in college and as civic leaders.

How to fill out form 990

How to fill out form 990

1. Gather necessary financial documents and information for the fiscal year.
2. Download Form 990 from the IRS website or access it through tax software.
3. Fill in the organization's basic information, including name, address, and tax identification number.
4. Complete the financial summary section, detailing income, expenses, and net assets.
5. Fill out the statement of program service accomplishments, highlighting the organization’s mission and activities.
6. Provide information on governance, including board members and organizational structure.
7. Review the reporting requirements specific to your organization type (e.g., 990, 990-EZ, or 990-PF).
8. Attach any necessary schedules (Schedule A, Schedule B, etc.) as required.
9. Double-check all entries for accuracy and completeness.
10. Sign and date the form, then file it electronically or by mail with the IRS by the due date.

Who needs form 990?

1. Tax-exempt organizations, typically including charities, foundations, and non-profits.
2. Organizations with gross receipts over a certain threshold (currently $200,000 for most organizations).
3. Non-profits with total assets exceeding $500,000 must file Form 990, 990-EZ, or 990-PF depending on their classification.

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What is form 990?

Form 990 is an annual information return that federally tax-exempt organizations, nonexempt charitable trusts, and certain political organizations must file with the IRS. It provides transparency regarding their financial activities and operations.

Who is required to file form 990?

Organizations that are tax-exempt under section 501(c)(3) (charitable organizations) and other types of exempt organizations, as well as private foundations, are required to file Form 990 or one of its variants, unless they meet specific revenue and asset thresholds.

How to fill out form 990?

Filling out Form 990 involves gathering financial and operational data for the year, including revenue, expenditures, assets, and liabilities. Organizations should follow IRS instructions carefully, provide accurate data, and may want to seek assistance from tax professionals if needed.

What is the purpose of form 990?

The purpose of Form 990 is to provide the IRS and the public with information about the organization’s activities, governance, and financial health, promoting accountability and transparency in the nonprofit sector.

What information must be reported on form 990?

Form 990 requires organizations to report a variety of information, including revenue, expenses, assets, liabilities, program services, compensation of officers and key employees, and governance practices, among other financial and operational details.