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In basic terms, Form 990 is the annual federal return that is required to be filed by
all types of exempt organizations. The course takes the participant through the
basics of Form 990. It covers the complete form and all the accompanying
schedules. The course goes line by line through the Form 990 and offers
explanations and tips for accurate completion. Participants will gain an
understanding of the tax and practical points essential to completion of the Form
990 which has a 12-page core form and 16 schedules.
• Identify the filing requirements for Form 990, Form 990-EZ and Form 990-
N.
• Determine best practices for completing the core form.
• Recognize risks in preparing Form 990 and identify certain reporting red
flags.
• Identify how to prepare for the most common Schedules that typically
apply to 990 filers: identification of public charity status (Schedule A);
reporting on donors (Schedule B); financial statement line items (Schedule
D); reporting on fundraising events, gambling, and use of professional
fundraisers (Schedule G); grant-making (Schedule I); and capture of
property (“non-cash”) contributions (Schedule M).
• Form 990 filing requirements
• Form 990 preparation sequencing and how to pull together necessary
data
• Keys to getting Form 990 preparation correct the first time
• Identification of managers and measurements of their compensation
• Form 990 versus books-and-records financial statement detail
• Disclosures of governance inputs and Boards’ employ of policies
CPAs, attorneys, and nonprofit
mangers
Basic knowledge of taxation
None
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