Article Archives >> To the Point
We are a new charity that has not received any grants or other cash donations yet, but have received in-kind services. Do we still have to file a Form 990?
No. But you will have to file a Form 990-N, the new electronic postcard, to let the IRS know that you exist and function. If you don’t file with the IRS for three straight years, you will lose your exemption. (See Ready Reference Page: “Small Nonprofits Must File E-Postcard to Retain Exemption.”)
A new charity does not have to file a Form 990 (or Form 990-EZ) tax information return until it has received $50,000 in gross revenue a year. (This is an increase from the traditional threshold of $25,000 in place prior to this year.)
Rev: 1/11/2011
Sign up and receive a free report on electioneering!
What our readers say about Nonprofit Issues
Once again you've tackled a tricky question and explained it so we all can understand the issue.--M.V.
Thank you for your informative and keen advice on nonprofit matters. I believe it's a unique and concise place to get answers to this often wispy area called nonprofit. --R.T.
Have a question?
If you can't find your answer, submit a question and Don will pick one question a week to answer online and to include in our weekly e-mail notice.
Other ways to
find answers:
Talk to the Editor
Next Conference Call:
Thursday, May 24, 2012
Participate
in this bi-monthly telephone seminar conference call and ask your questions directly to Editor
Don Kramer.
Access the entire site
($9.95/24 hours, $17.95/3 months).
Nonprofit Issues
Live
Full Day Program
A well-received full-day
program that covers the current hottest topics in nonprofit
law. Qualifies in Pennsylvania
for Continuing Education credits.
Speaking Engagements
Don is available for programs and speaking engagements ranging from
a one-hour presentation to a full-day primer on nonprofit law. Contact
us if you are interested in having him speak at your program.