We can help you setup and maintain your non-profit
organization's tax-exempt status by handling all the IRS reporting for you.
Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which
includes the following items.
-
Income Statement with very specific revenue and expense categories
like donations, salaries, postage, rent...
-
Balance Sheet with specific categories like cash, accounts receivable, accounts
payable...
-
Functional Expense Statement with all the expenses allocated to either program
services, fundraising, or operations.
-
Individual Program Expense Statement that reports all of the expenses for each
program or service like seminar programs or educational mailings.
- Revenue Support Schedules that detail the organization's sources of income in specific
categories like charitable donations, membership fees, investment income.
The IRS uses these very specific revenue and expense classifications to determine if your organization will
retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and
expense classifications. We can prepare and file the required 990 and 990T tax forms.
