Summary...
- The Form 990 is filed annually, and several Form 990 formats are available depending on your nonprofit’s annual gross receipts and assets.
- Legal and financial penalties can arise when the Form 990 is not filed on time, is incomplete, or is not filed correctly.
- The Form 990 is your nonprofit’s most public financial document, which can make it a useful marketing tool to share your organization’s mission, program accomplishments, and financial stability.
- Nonprofit and charitable organizations in Washington need to register with the Office of the Secretary of State, Corporations and Charities Division and stay current with annual requirements. Also, nonprofits pay almost all state and local taxes.
Here are some questions to think about...
- After reviewing your organization’s most recent Form 990, does the content in Part I and Part III (pages 1 and 2 respectively) present a comprehensive and accurate picture of your nonprofit? Is the information consistent with your website and/or organizational materials?
- Does your annual board calendar include key dates for preparation, review, and filing of the Form 990?
Next steps...
- Check out your nonprofit’s profile on Candid’s GuideStar and upload additional information as needed.
- Learn more about the public support test. LaVerne Woods, Esq. of Davis Wright Tremaine prepared a helpful document titled The Public Support Test: What a Grant Seeker Should Know.
- Explore these valuable resources created by Jacobson Jarvis & Co.
Chapter Materials
Start by downloading the Finance Unlocked for Nonprofits guide that includes practice activities, worksheets, and ...
Download this chapter's guide before watching the video.
Video transcript with visual descriptions for the Finance Unlocked for Nonprofits 990 video
Document Retention Policy from resources from National Council of Nonprofits
Overtime Salary Threshold Tool from Nonprofit Association of Washington
Check out this tutorial video on how to ...
Stay Up-to-Date with the Secretary of State Venn Diagram for nonprofit corporations and charities
Find an audio ...
Sample Whistleblower Policy from Charity Review Council
Public Support Test memo by LaVerne Woods, Esq.
This brief checklist reviews items to help your organization stay legally compliant with your finances.