Nonprofit Law Podcast #31: Do we have to file a 990?

Do we have to file a 990?

Download: Nonprofit Law Podcast #31 (mp3, 6:26)

Shownotes

Intro

Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
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News & Notes
- Nonprofits and Elections: Balancing Personal Versus Organizational Activity on-demand video screencast is available now at nplawcast.com/beyondthepodcast.

Do all nonprofits have to file Form 990?

- No, but most do. The default is that your nonprofit will be filing a 990 about 5 months after the end of its tax year
- Who doesn't file a Form 990?
- Small organizations
- Gross receipts of less than $100,000 and assets of less than $250,000 at the end of the year (Form 990-EZ)
- Gross receipts normally less than $25,000 (no filing necessary for FY 2007)
- For FY 2008 (next year's filing) these organizations may be required to file an annual electronic notice - e-Postcard
- Churches and church-affiliated organizations (no filing necessary)
- Private foundations (Form 990-PF)
- Employee benefit trusts (Form 5500)
- Black lung benefit trusts (Form 990-BL)
- Special partnerships of religious and apostolic organizations (Form 1065).

Resources
IRS: EO Reporting Requirements - Annual Return Filing Exceptions

Closing
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This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law