All tax-exempt organizations, or those organizations whose tax-exempt status is still pending approval, must file an annual 990, regardless of income or activity. At BryteBridge Nonprofit Solutions, we make it easy for Nonprofits as we will handle the annual compliance work with the IRS and your states, so you can focus on your Nonprofit.
The required version of Form 990 depends on your organization’s total annual income and assets, including all cash and non-cash donations. The requirements are as follows:
- Form 990-EZ Voluntary – Approved tax exemption and gross receipts under $50,000
- Form 990-EZ – Gross receipts between $50,000 and $199,999, and total assets under $500,000 (Note: some organizations under $50,000 may file this form instead of 990-N)
- Form 990 – Gross receipts of $200,000 and above, or with assets over $500,000
- Form 990-PF – All organizations categorized as private foundations. If you are interested in the 990-PF request a consultation or launch the evaluation tool.
Why should I file a 990-EZ if my total income is under $50,000?
As a Nonprofit consultant, we often advise filing the 990-EZ Voluntary instead of the 990-N to be transparent with the public. Your 990 is more than just a mandatory filing- it is the face of your organization and an opportunity to show the public that your organization is well organized, as the 990-EZ itemizes financial data for public inspection, while the 990-N does not. Also, many states require a Form 990 to be filed along with annual solicitation renewals and will not accept the 990- N to meet this requirement. Further, major donors and foundation grant makers often rely on a review of Form 990-EZ or 990 in order to make giving decisions. If you are still interested in the 990-N please fill out our Evaluation Tool.
- Organizations who have gross revenue of less than $50k. (Excluding Nonprofits in MA, NY, MI & NH where 990EZ is required regardless of income.)
- Organizations required by state OR who have gross revenue less than $100k.
- Annual filing for all private foundations, regardless of income. Up to $1 million in receipts. Over $1M requires a custom quote.