Get the free Form 990

This document provides tax return filing instructions for Form 990, intended for exempt organizations such as the Communities Foundation of Oklahoma for the tax year ending June 30, 2017.

How to fill out form 990

How to fill out form 990

1. Gather necessary information about your organization, including its mission, activities, and financials.
2. Download Form 990 from the IRS website or access it through tax preparation software.
3. Enter basic information such as the organization's name, address, and Employer Identification Number (EIN) on the top of the form.
4. Complete the summary section, including revenue, expenses, and net assets.
5. Provide detailed financial statements, including balance sheets and statements of activities.
6. Fill out the governance section, which requires information about the board of directors, policies, and practices.
7. Answer questions regarding the organization’s programs and accomplishments.
8. Ensure compliance with disclosure requirements by attaching any necessary additional schedules.
9. Review the completed form for accuracy and sign it.
10. Submit Form 990 electronically or by mail, and keep a copy for your records.

Who needs form 990?

1. Non-profit organizations that are tax-exempt under section 501(c)(3) of the Internal Revenue Code must file Form 990 annually.
2. Charitable organizations, foundations, and certain other tax-exempt entities are required to file this form.
3. Organizations with gross receipts over $200,000 or total assets over $500,000 must file the full Form 990.
4. Smaller organizations may file Form 990-EZ or Form 990-N (e-Postcard) depending on their revenue.

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What is form 990?

Form 990 is an annual information return that organizations exempt from income tax must file with the Internal Revenue Service (IRS) in the United States. It provides important information about the organization's mission, programs, and finances.

Who is required to file form 990?

Most tax-exempt organizations, including charities, churches, and certain non-profits, are required to file Form 990 if they have gross receipts above a certain threshold, typically $200,000, or total assets over $500,000.

How to fill out form 990?

To fill out Form 990, organizations must gather financial statements, collect information about their activities, and answer questions about governance. The form can be completed using IRS instructions and guidance, often through tax preparation software.

What is the purpose of form 990?

The purpose of Form 990 is to provide transparency and accountability for tax-exempt organizations. It helps the public and donors assess how the organizations operate financially and fulfill their missions.

What information must be reported on form 990?

Form 990 requires reporting of financial data including revenue, expenses, and net assets, as well as information on governance, programs, and compensation for key employees. Organizations must also disclose their mission and accomplishments.