You are here

New “Core Form” 990 Presents Revised Look for Nonprofit Finances

New “Core Form” 990 Presents Revised Look for Nonprofit Finances

New “Core Form” 990 Presents Revised Look for Nonprofit Finances

Form Requires substantial additional disclosures Still retains numerous traps for the unwary

The revised Form 990 to be utilized by tax-exempt organizations beginning in 2009 has been significantly revamped from the current form to generate more information about the size and scope of the tax-exempt sector. 

We previously summarized some of the major changes that will probably require many nonprofit boards to adopt new governance policies so that they can look good on the Form.  (See Ready Reference Page: “New Form 990 Will Greatly Expand Reporting Requirements for Nonprofits.”)  We will now begin to discuss some of the specific questions and the import for reporting agencies....

lock The full text of this article is available to paid subscribers only. Login or subscribe to read more

 

Sign-up for our weekly Q&A; get a free report on electioneering