Nonprofit Accounting Basics

Form 990: Core Form

Best Practices

Originally Posted: July 28, 2021

The Internal Revenue Service believes that promoting best practices in the areas of governance, management and disclosure will lead to a higher level of federal tax law compliance.

Definition of an Officer

Originally Posted: July 20, 2021

An officer is a person elected or appointed to manage an organization’s daily operations, such as a president, vice president, secretary, or treasurer.

Definition of Key Employee

Originally Posted: August 30, 2021

The definition of a key employee includes a three part test. To be a current key employee all three tests must be met:

The $150,000 Test

Form 990 (Core Form)

Originally Posted: July 29, 2021

The Form 990, Return of Organization Exempt from Income Tax, contains a twelve page “core” form with the following twelve parts:

Form 990 Preparation Tips

Originally Posted: July 17, 2020

As anyone who has had to compile information for the Form 990 knows, what the IRS is requesting is exceptionally time consuming to put together.   If your organization is subject to an au

Governance Review of the Form 990

Originally Posted: April 16, 2022

Form 990, Part VI, Line 11 relates to the organization’s process for filing the Form 990 prior to the form being filed with the IRS. Line 11 includes two parts.

Independent Voting Members of the Board

Originally Posted: May 20, 2009

The definition of an independent voting member of the Board of Directors includes four criteria that must be met for independence:

Reporting the Total Number of Volunteers on the Form 990

Originally Posted: April 25, 2022

Nonprofits have only a few touchpoints where a lasting impression can be made in the blink of an eye.

Subscribe to Form 990: Core Form