In this episode of the pod, we’re going to walk you through the types of information you can get from a 990. You’ll hear how that information is helpful to a variety of individuals including a new Executive Director, board members, the press, staff, job applicants, donors, and more.
Topics:

  • Why nonprofits are required to publicly disclose certain legal and financial information.
  • The different kinds of Form 990s include:
    • Form 990
    • Form 990 EZ
    • Form 990-N
    • Form 990-PF
  • When are Form 990s due?
  • What are the penalties and fines for not filing?
  • What can you find in a 990?
    • Identity, Tax Status, and Tax Year
    • How Much Income Did the Filer Receive and From What Sources?
    • How Did the Filer’s Total Expenses Break Down?
    • What Can You Tell from Net Assets?
    • Number of employees and board members, organization’s website, and EIN
    • What Kinds of Programs Does the Filer Run and How Much Does It Spend on Them?
    • Good Governance – Conflict of Interest, Whistleblower, Record Retention and Compensation Policies
    • Who Are the Filer’s Board Members, Officers, Key Employees, and How Much Does Its Top Staff Get Paid?
    • Did the Filer Initiate Some New Activity, Change Its Processes for Governing or Engage in Any Excess Benefit Transactions?
    • Did the Filer Engage in Any Self-Dealing Transactions During the Year?
    • Does the Filer Lobby?
    • When nonprofits must provide copies of financial documents to the public
  • In-person requests
  • Requests in writing
  • Charges for copying and mail must be arranged in advance
  • Fines for noncompliance
  • Filers who share their 990s on their website are not obligated to produce copies upon request

As a reminder, this episode is just about the tax filing to the federal government (the 990) at the end of your fiscal year. Each state may also require a nonprofit public charity to file other types of forms, perhaps a copy of the 990, or some other tax filing. So, make sure if you’re a staff person that you work with your bookkeeper to understand all the end of the year filings you need to provide.

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