I got asked the following question today and it made me realize that we have everyone in this group from EDs and CFOs of very large Organizations to people that are just starting out. A lot of the content that I write about is for the mid to larger organizations, but the new people need just as much help. Therefore please don’t be shy about asking the group your questions or sending them to me at trent@tbfosteraccounting.com.
The question I got today was “Is the 990 a public document”?
Organizations must make its three most recently filed annual Form 990s and all related supporting documents available for public inspection. This public disclosure rule also applies to Form 1023, which is filed to obtain exempt status.
Must people know that you can find an organization’s 990 but what most people don’t know is that this also includes the support for the amounts that are reported in the 990. The 1023 form also has a lot of information about your organization that someone can request, and you will need to provide. This is why it is very important to make sure that these two items are always saying the right things and are making your organization show its true colors.
There are several online websites that you can get an organization’s 990 with Guidestar.org being the largest FREE site to find this information. Or you can go old school and just request them from the organization directly. Requests made in person must be fulfilled immediately, or within 30 days for a written request, with no charge other than a reasonable fee to cover photocopying and mailing expenses.
If you are reading this and not part of our Facebook group yet I invite you now to the Nonprofit Accounting Spot. The group is a safe place to ask and receive answers and feedback from other like minded nonprofit management team members. We hope you join us on this adventure not only to get answers that you are looking for but to help other nonprofit teams with your knowledge and experience.
You can click here to join. https://www.facebook.com/groups/nonprofitspot/
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