Form 990 is the IRS' primary tool for gathering information about tax-exempt organizations, educating organizations about tax law requirements and promoting compliance. Organizations also use the Form 990 to share information with the public about their programs

Small tax-exempt organizations generally are eligible to file Form 990-N to satisfy their annual reporting requirement if their annual gross receipts are normally $50,000 or less.

• Gross receipts are the total amounts the organization received from all sources during its annual accounting period, without subtracting any costs or expenses.

• Gross receipts are considered to be normally $50,000 or less if the organization:
  • Has been in existence for 1 year or less and received, or donors have pledged to give, $75,000 or less during its first tax year;
  • Has been in existence between 1 and 3 years and averaged $60,000 or less in gross receipts during each of its first two tax years; and
  • Is at least 3 years old and averaged $50,000 or less in gross receipts for the immediately preceding 3 tax years (including the year for which calculations are being made).

In order to qualify to file Form 990-EZ, a nonprofit should have gross income of more than $50,000, but less than $200,000 during the past fiscal year.  In addition, the total valuation of all assets should be less than $500,000.  If an organization’s assets are worth more than that, a full Form 990 will be required, regardless of revenue.

Form 990 is due on the 15th day of the 5th month following the end of the organization's taxable year. For organizations on a calendar year, the Form 990 is due on May 15th of the following year.