Form 990
An annual information return that tax-exempt organizations in the United States must file with the IRS, providing detailed financial information, governance practices, and operational data. Form 990 includes sections on revenue, expenses, compensation, board governance policies, and program accomplishments. It is a public document that serves as a key transparency tool, and the board of directors is responsible for reviewing and approving it before filing. Failure to file for three consecutive years results in automatic revocation of tax-exempt status.
Related Terms
A section of the U.S. Internal Revenue Code that grants tax-exempt status to nonprofit organizations operated exclusivel...
The governing body of a nonprofit organization, responsible for setting the mission and strategic direction, ensuring fi...
A specialized committee of the board of directors responsible for overseeing financial reporting, internal controls, and...
More Nonprofit Governance Terms
Simplify Your Board Governance
I'mBoard helps startup CEOs manage board materials, track resolutions, and run better meetings.