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IRS Form 990 Changes

The Independent Sector offers nonprofit organizations guidance on what they will need to know about the changes in the 990 form.

What Forms Should You File? Your Organization Must File the New 990 in 2009 (for fiscal years beginning in 2008) if:

  • You have annual receipts of $1 million or more, or total assets of $2.5 million or more.
  • You maintain any donor advised funds.
  • You are recognized as a tax-exempt organization under section 512(b)(13) (controlling organizations) or section 509(a)(3) (supporting organizations) . (li)You are NOT recognized as a private foundation (as described under section 509(a) of the tax code). There have not been any changes to the Form 990-PF filed by private foundations.

    If your annual receipts are between $25,000 and $1,000,000, you may file the Form 990-EZ in 2009, although some states in which you are required to file a copy of your federal return may require that you file the full Form 990.

    If your annual receipts are under $25,000, you must file the new electronic postcard.

    These thresholds will change for 2010. For more information go to the following links provided by Guidestar:

  • Take a look at an overview of the changes to the Form 990 at www.irs.gov/pub/irs-tege/overviewform990__redesign.pdf.
  • View the revised Form 990 and new schedules at www.irs.gov/charities/article/0,,id=176637,00.html.

    Posted on Thursday, August 7, 2008 | In Categories: Announcements, Homepage, Literacy