Understanding the IRS Form 990

Like most tax forms, the 990 can seem overwhelming and confusing at first glance. The 990 is the tax form the Internal Revenue Service (IRS) requires all 501(c)(3) tax-exempt charitable and nonprofit organizations to submit annually. The Form 990 is designed to increase financial transparency and includes revenue, expenditure, and income data in addition to information used to assess whether a nonprofit aligns with federal requirements for tax-exempt status.

Upon successful completion of this course, the attendee should be able to:

  • Recognize the information each filing organization is required to provide on its Form 990 series return,
  • Identify information required to complete the various schedules that a tax-exempt organization is required to file and the rules associated with these schedules, and
  • Recognize unrelated business taxable income (UBTI) and the filing requirements for Form 990-T.

This session is recommended for all attendees affiliated with grant-funded organizations.  The experience level is basic.  There are no prerequisites for attendance, and prior preparation is not required but encouraged.  Attendees can earn up to 1.0 hour of CPE credit in the field of specialized knowledge (nonprofits and government).