Get the free Form 990

This document is the annual information return for tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code, providing detailed financial information and governance for COMPASS

How to fill out form 990

How to fill out form 990

1. Gather your organization's financial records for the year.
2. Download the Form 990 from the IRS website.
3. Begin filling out the form by providing your organization's name, address, and EIN.
4. Complete Part I, which includes the summary of the organization's mission, activities, and financial highlights.
5. Fill out Part II, detailing the organization's program service accomplishments.
6. Complete Part III, which focuses on the organization's revenue and expenses.
7. Provide information in Part IV relating to the organization's balance sheet.
8. Fill in Part V with details regarding the organization's governance, including board members.
9. Complete Part VI, specifying the organization's policies regarding conflict of interest and financial controls.
10. Lastly, review the completed form for accuracy and submit it by the due date.

Who needs form 990?

1. Nonprofit organizations with gross receipts of $200,000 or more.
2. Organizations with total assets exceeding $500,000.
3. 501(c)(3) public charities.
4. Some 501(c)(4) organizations.
5. Certain private foundations.

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What is form 990?

Form 990 is an annual reporting return that certain tax-exempt organizations must file with the IRS. It provides the IRS and the public with information about the organization's activities, governance, and detailed financial information.

Who is required to file form 990?

Most tax-exempt organizations, including charities, private foundations, and some other nonprofits with gross receipts over a certain threshold are required to file Form 990. However, smaller organizations may be eligible to file Form 990-EZ or Form 990-N (e-Postcard).

How to fill out form 990?

To fill out Form 990, an organization needs to gather financial statements, records of contributions and grants, and any other relevant financial information. The form should be completed using the provided instructions, ensuring all required sections are filled out accurately, and then submitted to the IRS.

What is the purpose of form 990?

The purpose of Form 990 is to promote transparency and accountability in tax-exempt organizations by providing essential information about their finances, governance, and program activities to the IRS and the public.

What information must be reported on form 990?

Form 990 requires organizations to report financial information such as income, expenses, net assets, revenue sources, compensation of officers and employees, governance policies, and detailed information about programs and achievements.