Small Business Reading Room

Tuesday, May 12, 2009

New FY 2008 filing considerations for Non-profits

If you are an officer of a Non-profit organization, chances are that you already know about revised IRS form 990. If not, you should speak to your tax preparer regarding changes have been made that may affect you. Specifically, the new Form 990 — signed under penalty of perjury by an officer — makes it impossible to legally avoid state registrations because it calls for a list of the states in which a copy of the Form 990 is required to be filed.

View IRS Form 990 (PDF)

Who needs to file Revised Form 990?

You should be able to rely on your accountant to tell you what your particular obligation is, but the following general information can be found on the IRS instructions for form 990 (PDF):

Most organizations exempt from income tax under section 501(a) must file an annual information return (Form 990 or Form 990-EZ) or an annual electronic notice (Form 990-N), depending upon the organization’s gross receipts and total assets.

For 2008, Form 990 must be filed by an organization exempt from income tax under section 501(a) (including an organization that has not applied for recognition of exemption) if it has either (1) gross receipts greater than or equal to $1,000,000 or (2)total assets greater than or equal to $2,500,000 at the end of 5 the tax year. This includes:

• Organizations described in section 501(c)(3) (other than private foundations), and
• Organizations described in section 501(c)(3) subsections (other than black lung benefit trusts).

When is IRS form 990 due?

File form 990 by the 15th day of the 5th month after the organization's accounting period ends. That's May 15th for a calendar-year filer.
For additional information on when to file, view the instructions linked to above.



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Delaware Intercorp, Inc.
113 Barksdale Professional center
Newark, DE 19711-3258

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