Every year, most U.S. tax-exempt organizations file an information return with the IRS. Which version you file depends on your size and type, and getting it wrong, or not filing at all, can cost your organization its tax-exempt status. This guide explains the Form 990 options, the thresholds, the deadlines and how clean bookkeeping makes the return easier.
The four versions of Form 990
| Form | Who generally files it | What it involves |
|---|---|---|
| 990-N (e-Postcard) | Gross receipts normally $50,000 or less | A short online notice: name, EIN, address, principal officer and confirmation of receipts |
| 990-EZ | Gross receipts under $200,000 and total assets under $500,000 | A shorter return covering revenue, expenses, balance sheet and program accomplishments |
| 990 | Gross receipts $200,000 or more, or total assets $500,000 or more | The full return, with governance, compensation, functional expenses and schedules |
| 990-PF | Private foundations of any size | A return focused on investments, grants and excise tax |
An organization eligible for the 990-N or 990-EZ may choose to file a longer form instead. Some funders ask for the full 990 regardless of size.
What “normally $50,000 or less” means
For the 990-N, the IRS looks at gross receipts over time, not just one year. For an organization that has existed at least three years, gross receipts are normally $50,000 or less if the average of the current and two previous years is $50,000 or less. Newer organizations follow shorter look-back rules. Gross receipts means everything received from all sources before subtracting any expenses.
Who does not file a Form 990
Churches, conventions or associations of churches and their integrated auxiliaries are generally not required to file. Certain government units and some other organizations are also excepted. A church with $1,000 or more of gross unrelated business income must still file Form 990-T. See our nonprofit bookkeeping services for church and ministry books.
Deadlines and extensions
Form 990 returns are due on the 15th day of the 5th month after your fiscal year ends: May 15 for a calendar year, November 15 for a June 30 year end. Forms 990, 990-EZ and 990-PF can be extended by 6 months with Form 8868. There is no extension for the 990-N, but there is no penalty for filing it late either. The real risk is below.
The three-year rule
An organization that does not file a required return (990, 990-EZ, 990-PF or 990-N) for three consecutive years automatically loses its tax-exempt status. Getting reinstated means applying again. Filing every year, even in a quiet year, is essential.
How your books feed the 990
- Revenue by source: contributions, grants, program service revenue, fundraising events and investment income, each tracked separately.
- Functional expenses: every expense split between program services, management and general, and fundraising. The full 990 reports this in Part IX.
- Restricted funds: net assets with and without donor restrictions.
- Balance sheet: reconciled cash, receivables, pledges and liabilities.
- Compensation: officer and key employee pay.
Our nonprofit fund accounting guide explains how to set this up in QuickBooks or Xero.
Key takeaways
- 990-N for receipts normally $50,000 or less; 990-EZ under $200,000 in receipts and $500,000 in assets; otherwise the full 990.
- Private foundations always file the 990-PF; churches are generally exempt.
- Returns are due the 15th day of the 5th month after year end, with a 6-month extension available for most forms.
- Three missed years in a row means automatic loss of exemption.
Frequently asked questions
What is the difference between Form 990-N and 990-EZ?
The 990-N is a short online notice for organizations with gross receipts normally of $50,000 or less. The 990-EZ is a fuller return for organizations with gross receipts under $200,000 and total assets under $500,000.
When is Form 990 due?
On the 15th day of the 5th month after the fiscal year ends, which is May 15 for calendar-year organizations. Forms 990, 990-EZ and 990-PF can be extended 6 months with Form 8868.
Do churches have to file a 990?
Churches, conventions or associations of churches and their integrated auxiliaries are generally not required to file Form 990, though they must file Form 990-T if they have $1,000 or more of gross unrelated business income.
What happens if a nonprofit does not file Form 990 for three years?
It automatically loses its tax-exempt status and must reapply to have it reinstated.
