Charleston, W.Va. – Some nonprofit organizations in West Virginia and around the country have to file an IRS form in the next few days to make sure they don’t lose their tax exempt status.
IRS 990 forms include a nonprofit organization’s financial information such as assets, donations, and liabilities.
These forms and instructions on how to fill them out can be found at www.IRS.gov
Nonprofit organizations are required to file some form of 990 with the IRS every year to keep their nonprofit status from being revoked. If a nonprofit organization does not file a 990 for three consecutive years it would result in the IRS revoking their tax exempt status.
There are three types of 990 forms: IRS Form 990-N for nonprofit organizations that raise less than $25,000 per year, and the IRS Form 990 and IRS Form 990-EZ are for nonprofit organizations that exceed $25,000 during a calendar year.
The Urban Institute and National Center for Charitable Statistics has compiled lists of nonprofit organizations that are now required to file an IRS Form 990.
to search the lists.