Every tax-exempt nonprofit in America reports to the IRS once a year — but not on the same form. There are three versions of the Form 990, and which one you file depends on your size:
1) Form 990-N — the “e-Postcard.” For the smallest organizations: gross receipts normally $50,000 or less. It's a short electronic filing — a few questions, done in minutes. But “small” doesn't mean “optional.” Skip it three years in a row and the IRS revokes your tax-exempt status automatically.
2) Form 990-EZ — the short form. For mid-size organizations: gross receipts under $200,000 AND total assets under $500,000. Four pages plus schedules — a real return, just a lighter one. Many growing nonprofits live here.
3) Form 990 — the full return. For larger organizations: gross receipts of $200,000 or more, OR total assets of $500,000 or more. This is the complete public report — finances, governance, board members, policies, program accomplishments. Donors, grantmakers, and journalists read this one. It's your organization's public face.
Three things every board should know:
— The deadline is the 15th day of the 5th month after your fiscal year ends — May 15 for calendar-year organizations. A 6-month extension is available with Form 8868, but there is no second extension.
— Filing the wrong version is a real problem — file too small a form for your size and the IRS treats the return as incomplete, with penalties that add up daily.
— One exception: bona fide churches and houses of worship are exempt from filing altogether. Many other faith-based organizations are not — if you're not sure which side of that line your organization is on, find out before the deadline, not after.
The form is short. The consequences of the wrong one — or of none at all — are not.
— 501c3 Expert
We handle all your 501(c)(3) paperwork — nonprofits set up from start to finish, and Form 990s prepared every year.
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