Q What annual information returns must be filed?

Your organization may have to file any of the following:

An organization that normally has $50,000 or more in gross receipts and that is required to file an exempt organization information return must file either Form 990Return of Organization Exempt from Income Tax, or Form 990-EZShort Form Return of Organization Exempt from Income Tax. See Filing Phase-In for more information about which return to file. The return is due on the 15th day of the 5th month after the end of the organization’s fiscal year. (For example, the 2008 return of an organization whose fiscal year ends on June 30, 2009, would be November 15, 2009.)  The due date may be extended for three months, without showing cause, by filing Form 8868 before the due date; an additional three-month extension may be requested on Form 8868 if the organization shows reasonable cause why the return cannot be filed by the extended due date. For taxable years starting after December 31, 2015, there is an automatic six month extension granted upon request.

Small organizations – those whose annual gross receipts are normally less than the threshold- are not required to file an annual return, but may be required to file an annual electronic notice – e-Postcard.

Form 990–T an exempt organization that has $1,000 or more gross income from an unrelated business must file

Employment Tax Returns Every organization exempt from federal income tax, which pays wages to employees, is responsible for withholding, depositing, paying, and reporting federal income tax, social security and Medicare (FICA) taxes, and federal unemployment tax (FUTA).

State reporting requirements. Each state has their own requirements. You may have to submit a corporate Income tax return, Department of State corporation annual report, and annual charitable solicitation registration. Your state may also have Employment, security and state unemployment taxes.
Information provided to Donors A charitable organization must give a donor a disclosure statement for a quid pro quo contribution over $75 and an Acknowledgement of Charitable contribution over $250

Required Disclosures for Solicitation of nondeductible contributions, Sales of information or services that are available free from the government.

Send Conformed copies to the Key district director of any organizational changes such as changes in accounting period, amending articles of organization or its internal regulations (bylaws), adding or changing activities etc.

FASB -compliant nonprofit financial statements. Your organization may need to provide to your Grantors numerous compliant financial statements such as Project/Grant allocation, restricted and unrestricted funds, functional expenses report and Statement of Financial Position.

Q What are the due dates for the annual information returns?

Form 990, 990–EZ, or 990–PF must be filed by the 15th day of the 5th month after the end of your organization’s accounting period.

Employment Tax Returns are generally due quarterly. For more information, get a copy of Publication 15, Circular E, Employer’s Tax Guide, which summarizes the responsibilities of an employer.

Q What if my application is still pending?

If your organization has not received its exempt status by the above due date for filing an information return, you should still file Form 990 or 990–EZ . (Check the “application pending” block at the top of page 1 of the return.)

Q What organizations are exempt from filing the Form 990?

Generally, a church, an interchurch organization of local units of a church, a convention or association of churches, or an integrated auxiliary of a church. A school below college level affiliated with a church or operated by a religious
Order, even though it is not an integrated auxiliary of a church. A mission society sponsored by or affiliated
With one or more churches or church denominations, more than one half of the activities of which society are conducted in, or directed at persons in, foreign countries. An exclusively religious activity of any religious order.

(There are other organizations exempt please see Filing Requirements and Required Disclosures Pub 557)

Q Does the organization have to give a receipt for contributions?

Yes, for quid pro quo contributions over $75 and contributions over $250 the organization must give a written acknowledgement providing enough information to substantiate the amount of the contribution.

For more information, get IRS Publication 1771, Charitable Contributions – Substantiation and Disclosure Requirements.
Note! A donor can deduct a charitable contribution of $250 or more only if the donor has a written acknowledgement from the charitable organization.

Q What is a quid pro quo contribution?

This is a payment a donor makes to a charity partly as a contribution and partly for goods or services.

Q What if we change our accounting period, or amend the articles of organization, by-laws or activities etc?

You should send a conformed copy of these changes to the appropriate key District Director. (Also include a copy of your determination letter)

Q What is FASB -compliant nonprofit financial statements?

The Financial Accounting standards board sets the accounting standards for various types of organizations, including nonprofits. Its standards are labeled by FASB (pronounced FAZbee) for example FASB 116 “Accounting for Contributions Received and Contributions made”