Form 990

Who is required to file what 990?

No Form Filed. Churches and certain of their affiliates, and other types of organizations.

Form 990-N. Organizations with gross annual receipts “normally” under $25,000 must now electronically file this brief report that contains only 6 items.

Form 990-EZ. All exempt organizations, except for privae foundations, whose gross annual receipts equal between $25,000 and $1,000,000 and whose total assets are less than $2,500,000 (for 2008) file Form 990-EZ.

Form 990. All exempt organizations, except private foundations, whose gross annual receipts are more than $1,000,000 or who have assets of more than $2,500,000 must file Form 990.

Form 990-PF. All private foundations (PFs) file Form 990-PF annually, regardless of annual receipts or asset levels (yes, even if the PF has no gross receipts).

Form 990-T. Any organization exempt under #501(a), including churches, state colleges, and universities, and #401 pension plans (including IRAs) with $1,000 or more gross income from an unrelated trade or business must file Form 990-T.

Form 990-BL. Black Lung trusts, #501©(21), file an annual Information and Initial Excise Tax Return for Black Lung Benefit Trusts and Certain Related Persons.

Form 4720. Form 4720 is filed to report excise taxes and to claim abatement of such taxes imposed on #501©(3) charities and their insiders for conducting prohibited activities.

Form 5500. One of several Forms 5500 may be due to be filed annually by pension, profit-sharing, and other employee welfare plans.  Form 5500-EZ is file for one-participant pension benefit plans.

Form 5768. The form is file to elect or revoke an election by a public charity to measure its permissible lobbying expenditures under #501(h).

Forms 941, 1099, w-2, w-3, and other federal and state compensation reporting forms are filed to report payments to workers that perform personal services for tax-exempt organizations.

This information is from the book, “Revised Form 990” by Jody Blazek, CPA