If you have not filed a a form 990 for the last three years you may be in trouble. If you work with a nonprofit and have just asked yourself, “what is a 990?” read this and these, then come back. But since this is the Not-For-Profit Accounting blog devoted nonprofit accounting issues I’ll assume my readers know all about 990s. But there may be folks new to the sector out there, maybe you know a new board member, so please pass this information on to them.
As this press release from Guidestar says,
The IRS will begin revoking exemptions on May 16, 2010, but will wait until 2011 to send revocation notices.
If you miss the first filing deadline for 2009 990s of May 15 2010 (the deadline for nonprofits who have calendar year fiscal years that end on December 31) the IRS will start pulling exceptions in six months or so. More about that from the IRS can be found here, and the details on filing thresholds so you know which form to file and dues dates for your returns can be found here.
Posted in: IRS, Nonprofit Accounting, Tax Forms.
Tagged: 990 · 990 EZ · 990 N · Tax Compliance
Over at the other blog I write on we have a few interesting tidbits:
- Can nonprofit organizations save money if they hire people? According to the new HIRE Act they can. You can also read about ways to back-up your system and two HR tips.
- You can read about some capacity building topics here, including a nice piece from the National Council of Nonprofits on state issues. Also there is information from The Nonprofit Finance Fund’s latest survey on the state of the sector.
- The other piece from NCN is here, as well as a nice article in the Philanthropy Journal on financial oversight.
Happy reading!
Posted in: Governance, IRS, Nonprofit Accounting.
Tagged: HR · Training
A frivolous post today. Accounting for Dragons takes you a podcast where my work time meets my play time. And if you like bad puns and accounting, these shirts might be for you.
For nonprofit accounting related posts check out here and here. Have a good weekend!
Posted in: Risk Management.
Tagged: Dragons
The 2009 form 990 was just released and I’ve written about some of the changes over here.
Also, do you know when your 990 is due? Neither do I, but this handy chart will help us both out. That post also includes guidance on which form you should fill out this year.
For more 990 goodness use the tags and category links below and to the right to read more articles.
Posted in: IRS, Nonprofit Accounting, Tax Forms.
Tagged: 990 · 990 EZ · Recommended Reading · Training
