Thursday, May 13, 2010

Have you filed your form 990 today?




For charitable groups, it's down to the wire to meet an I-R-S deadline...or lose their nonprofit, tax-exempt status next week. For larger groups, filing a “Form 990” with the I-R-S is nothing new…but Congress has changed the law to also include smaller groups that raise less than 25-thousand dollars a year in donations. Sandy Gill with Northwest Nonprofit Resources, says many of them are parent-teacher groups or all-volunteer organizations that most likely have never filed before.
"I think that there are a number of organizations that are doing their level best, and they just don’t know. But the reality is, that somebody in that organization received a letter from the IRS."
Gill says it is a simple process, particularly for small groups…and it's much easier than having to reapply for tax-exempt status by missing the Monday deadline.
"They need to file a very simple postcard electronically with the IRS, asking for things like the legal name of their organization, other names that they might go by, their mailing address, a website if they have it – there’s actually eight questions that they need to answer."
Nonprofits have had three years to file the forms, and the deadline is Monday, May 17th. Gill says just over 48-hundred nonprofit groups in Oregon have still not filed. She says there’s a list of nonprofits by state and zip code, where people can check to see if their group needs to file. Find it online at “councilofnonprofits-dot-org.” The shorter, postcard form is called a “990-N" and it is also available online.

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