IRS Form 990 is the annual informational tax return filed by tax-exempt organizations that details
financial information, including statements of revenue and expenses and balance sheets. The Form
990 is an annual compliance report that details:
Information on governance, decisions made, and written policies that demonstrate accountability
and transparency.
Adherence to best practices and its tax-exempt purpose.
Adherence to applicable federal tax law, from payroll and information reporting to unrelated
business income taxes. The annual tax return of a 501(c)(3) organization proves to the IRS that the
nonprofit is living up to its charitable purpose.
There are several types of the IRS Form 990s, which are determined by the financial standing of a
nonprofit. Nonprofit organizations are required to file the form 990 based on their assets, gross
receipts, and public charity status.
Tax-exempt organizations (other than private foundations) with gross receipts that are equal or
greater than $200,000 or have total assets of $500,000 or more are required to file Form 990, Return
of Organization Exempt from Income Tax.
Organizations with gross receipts less than $200,000 and total assets less than $500,000 can file
Form 990-EZ, Short Form Return of Organization Exempt from Income Tax.
Organizations with gross receipts of at most $50,000 are not required to file either Form 990 or 990-
EZ but are required to file, IRS 990-N Electronic Notice (e-Postcard).
If the organization is a private foundation rather than a public charity, it is required to file an IRS
Form 990-PF regardless of its revenue.
