Form 990

What it is

Form 990 is the yearly information return that most tax-exempt organizations file with the IRS. Which version you file depends on size. When we last checked, the IRS thresholds were:

• Form 990-N (e-Postcard): gross receipts normally $50,000 or less.
• Form 990-EZ: gross receipts under $200,000 and total assets under $500,000.
• Form 990: gross receipts of $200,000 or more, or total assets of $500,000 or more.
• Form 990-PF: private foundations, whatever their size.

Smaller organizations may choose to file a longer form instead.

Why funders ask for it

The 990 shows a funder your income, spending, programs, board and governance in one place. It's public: the IRS says an exempt organization must make its annual returns available for public inspection and copying for three years from the return's due date. Donor names and addresses generally don't have to be disclosed, except by private foundations.

How to get it

1. Ask whoever prepares your return (often your accountant) for the PDF of the most recent filed return.
2. If you can't find it, search for your organization in the IRS Tax Exempt Organization Search. The IRS notes that some paper returns from 2021 on are still being processed, so a recent one may be missing.
3. Add the PDF to the client's Documents.

How long it takes and what it costs

Getting a copy is free. Preparing a return is a different job; ask your accountant about timing and cost.

Common mistakes

• Sending a draft or an unsigned copy instead of the filed return.
• Sending an old year when a newer return has been filed.
• Assuming a 990-N is enough when a funder asks for financial detail. A 990-N has very little, so offer financial statements as well.