This is another posting in the MinistryCPA Top 10 series: Filing your not-for-profit (NFP) organization government reports can be a daunting task, even more stressful than Form 1040. We have compiled a list of some of the top questions that we have received when dealing with Form 990. We recommend that NFPs consider asking their accountants these questions. This list is by no means comprehensive, but it does cover some of the areas for which we receive the most questions. 1. Does the organization need to file a Form 990? The IRS has established a list of requirements to help tax-exempt organizations determine whether they need to file Form 990 and which one to file. Most not-for-profit organizations need to file Form 990, but if the organization is small enough it may only need to file an e-postcard (990-N). Churches are automatically recognized as a tax-exempt organization and generally exempt from filing Form 990. The IRS has published articles that give comprehensive lists
This blog posts answers to questions given to us by ministers and others serving in Christian ministries advancing the gospel of Jesus Christ. It also discusses other financial topics that those in gospel ministries face. We trust the information provided can be helpful to you.