Most exempt organizations are required to file an annual tax return with the IRS.
Filing Deadline
Unlike the deadline for individual tax returns, which is the same for everyone, your organization’s filing deadline is the 15th day of the fifth month following the end of your fiscal year. So, if your organization’s fiscal year is the same as the calendar year and ends on December 31, your 990 filing deadline is May 15. Just in case you’d like to confirm your deadline, the IRS has provided a deadline chart. The chart also includes extension deadline dates for organizations that need additional time to file their returns.
If an organization does not submit its annual return for three consecutive years, the IRS will automatically revoke its tax-exempt status.
Type of Form
Even though organizations are required to file a return, the version you need to file varies by your organization’s financial activities.
- Smaller organizations with annual gross receipts less than $50,000 can file Form 990-N or e-Postcard.
- Organizations with gross receipts less than $200,000 and assets greater than $500,000 should file Form 990-EZ or Form 990.
- Larger organizations—those with gross receipts greater than $200,000 and assets greater than $500,000 should use Form 990 to file.
- Private foundations file Form 990-PF.
Once again, the IRS has information about which form your organization should file and provides instructions for each form on its website.
Your 990 Also Promotes Your Organization’s Work
Although the 990 form is a tax document, it’s good to keep in mind that your organization’s 990 is often seen by those beyond the Internal Revenue Service staff. Through Guidestar.org and other sites that provide information about nonprofit organizations, others can access your tax forms to learn about your organization. Using Part III: Statement of Program Service Accomplishments on the 990 form to provide a clear description of your organization’s activities is another avenue to describe and promote your organization’s mission and impact.
About the Author
Regenia Bailey is a seasoned expert on nonprofits. She builds long-term relationships with local organizations, offering strategic planning and organizational development services, as well as coaching. More about Regenia.
