what is a 990

Form 990 is a tax form required by the Internal Revenue Service (IRS) for most tax-exempt organizations to file annually. It provides the IRS with an overview of the organization's activities, governance, and detailed financial information. The form is designed to increase financial transparency and includes revenue, expenditure, and income data in addition to information used to assess whether a nonprofit aligns with federal regulations. There are several variants of Form 990, including Form 990-EZ and Form 990-N, which have different reporting requirements based on the organization's gross receipts and total assets. Failure to file the appropriate Form 990 for three consecutive years risks losing tax-exempt status.