IRS Form 990
The IRS requires many nonprofits to file Form 990 each year. Failure to file on time— or to file at all— can have serious consequences, such as fines and penalties, additional taxes due, and even the loss of non-profit status. However, Form 990 serves a much broader purpose than just satisfying compliance requirement—
Your organizations 990 is also an important public relations tool, and is used by more stakeholders than just the IRS.
Who Is Reading Your 990? -- More People Than you Think!
The media, potential donors, grant sources, future employees, and even your competitors are likely using your publicly-available 990, which is why it important to make sure it tells your story in a way that promotes the organization’s interests.
Some of the most obvious mistakes that non-profits make with regards to the 990 are easy to spot: missing the deadline, entering the wrong name, filing an incomplete return, or failing to report. However, many organizations miss opportunities to maximize donations, obtain favorable press, win grants, and bolster their recruitment of employees and new board members by not taking a more strategic, thoughtful approach to their 990.
Ravin Consultants brings extensive nonprofit experience, and can help you ensure compliance while making the most of your 990 filing.