Red Flags in Your 990?—Roadmap for Effective Review

Every year, nonprofit leaders are asked to review Form 990, the Tax Exempt Organization Return. How should you review it? How should your Board review it? What are your thoughts? Form 990 is not really a tax return, it’s an information return and it’s used by the IRS, to size up your organization’s compliance, governance and activity. Who’s reading it after that? Potential donors, grantors, charity watch organizations and possibly the State Attorney General. With all these groups looking over your shoulder, what should you look for in your review?

In this session, participants will gain a roadmap for reviewing Form 990. Using a hands on example, The Organization With The Worst 990 Ever, we will link appropriate oversight concerns to corresponding areas of Form 990 to support management’s and the Board’s review. Participants will learn about “red flags” that may invite scrutiny and we will discuss suggested “red flag” remedies. You can even bring a copy of your own 990 if you wish to use it to follow along.

Field of study: Tax