Form 990 Overview

Your organization's IRS Form 990 is a critical document that funders and donors can use to assess the health of your organization. Join us to learn how to ensure your Form 990 is accurate and free of red flags. 

Learning Objectives

• Understand the basic elements of Form 990
• Recognize potential “red flags” the Internal Revenue Service looks for
• Identify possible UBTI issues (unrelated business taxable income) 

Description

This training will give participants a basic understanding of IRS Form 990 and why it should be considered a nonprofit’s "resume" to grantors and contributors. The instructor will guide participants through the various pages and schedules of Form 990. Participants will gain an understanding of how other organizations and individuals can obtain their organization’s 990, and what grantors, contributors, and charity watchdogs are reviewing when they look at an organization's 990. 

Level

Introductory

Audience

Executive Directors, Controllers and Financial Managers, Board of Directors, CPAs who work with nonprofits

Presenter

Donna Peace has been in public accounting for over 24 years and is a CPA in Texas and New Mexico. Donna has worked for both national and local CPA firms. She has consulted nonprofits in both audit issues and taxation. Donna has been the former Chair of the New Mexico Peer Review Committee and has served on several nonprofit boards in her career. She is currently a senior manager at Baca & Howard, P.C. a local Albuquerque firm.  

Guiding Practices for Nonprofits

• Nonprofits must submit the relevant version of the IRS Form 990 to the IRS annually.
• IRS Form 990 must be reviewed by all board members, and signed by current Board president, vice president, treasurer, assistant treasurer, chief accounting officer or other corporate officer (such as a tax officer) who is authorized to sign as of the date return is filed.
• Board members must review IRS Form 990 prior to submission to the IRS and it must be signed by the current Board president, vice president, treasurer, assistant treasurer, chief accounting officer or other corporate officer (such as a tax officer) who is authorized to sign.
• Nonprofits must make the following information publicly available, unless specifically exempted: applicable IRS Form 990 for three most recent years (Schedule B notwithstanding); IRS Form 1023; application for exemption; any documents submitted with the application; any letters or documents issued by the IRS with respect to the application.
• Nonprofits must be aware of the federal rules for tax on unrelated business income of exempt organizations and file IRS Form 990-T if the organization is subject to the tax. 

The Guide is available as a free digital download at CNPENM.org/Guide. Hard copies of the Guide and Companion Workbook will be available for purchase at this training for $25 each with a credit card or check.

The Center for Nonprofit Excellence often takes photos during our trainings to share on social media. If you prefer not to be photographed, please let us know in the Special Needs field when you register.