990 forms explained: what a treasurer files and when

Last updated 2026-07-24

What is Form 990?

Form 990 is the annual information return that most tax-exempt organizations file with the IRS to report income, spending, and activities for the year. It's not an income tax return in the way a business files one, because most 501(c)(3) and 501(c)(4) organizations don't owe income tax on money raised for their exempt purpose. Think of it as the IRS's yearly check-in: who ran your organization, how much money came in, where it went, and whether you're still operating like the nonprofit you said you'd be when you applied for exemption. The IRS states plainly that "tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations file this form to provide the IRS with the information required by section 6033" ^[1]. Section 6033 of the Internal Revenue Code is the actual law that creates the filing requirement. Almost every booster club, PTO, and youth sports league that has 501(c)(3) status has to file some version of this every single year, even if the group raised zero dollars. There are four main versions: Form 990-N (the electronic postcard), Form 990-EZ, the full Form 990, and Form 990-PF for private foundations (which booster clubs almost never are). Which one applies to you depends almost entirely on how much money moved through your accounts that year, not on how big or well-known your organization is.

What is the 990 tax form used for, exactly?

The 990 tax form is used by the IRS and by the public to check that a tax-exempt organization is still behaving like one. It reports revenue, expenses, net assets, officer and director names, and program activities for the fiscal year. Filed 990s (except the 990-N) become public record, and anyone can pull them up on the IRS's Tax Exempt Organization Search tool ^[2] or through sites like ProPublica's Nonprofit Explorer. That public-record piece matters more than most new treasurers realize. A parent, a donor, a school district, or a reporter can look up your booster club's 990 and see exactly what you spent on "other expenses" last year. Sloppy bookkeeping doesn't just risk an IRS problem, it risks an awkward conversation at the next parent meeting when someone pulls the filing up on their phone. The form also functions as the trigger for auto-revocation. Under the Pension Protection Act of 2006, any organization required to file an annual return or notice that fails to do so for three consecutive years automatically loses its tax-exempt status, no warning letter required beyond the IRS's routine reminders ^[3]. This is the single biggest risk facing volunteer-run nonprofits, because treasurer turnover means filings get forgotten more often than anyone wants to admit.

What is Form 990-N and who has to file it?

Form 990-N, nicknamed the "e-Postcard," is for small tax-exempt organizations with gross receipts normally $50,000 or less ^[4]. It's free, it's filed entirely online through the IRS's website, and it takes maybe ten minutes if you have your EIN handy. You report your legal name, address, EIN, tax year, confirmation that receipts are under the threshold, and the name of a principal officer. That's it. No financial statements, no line-item spending. Most small booster clubs, PTOs, and rec-league parent groups fall into this bucket. If your group's total revenue for the year, more than profit, stayed under $50,000, you almost certainly file the 990-N. "Normally $50,000 or less" is the IRS's phrase, and it means averaged over a rolling three-year period, not a hard cutoff on a single year ^[4]. A one-time bake sale windfall that pushes you to $55,000 one year doesn't automatically bump you to a bigger form if your three-year average stays under $50,000. The due date is the 15th day of the 5th month after your fiscal year ends. For a calendar-year organization (ending December 31), that's May 15. There's no paper option, no extension form for the 990-N specifically, and no late fee for filing it late in a single year, but three straight years of missing it (or any 990 variant) triggers automatic revocation ^[3]. For background on this specific form, see our 990-N and form 990-N explainers.

What is Form 990-EZ and when do you need it instead?

Form 990-EZ is the mid-size version, for organizations with gross receipts under $200,000 and total assets under $500,000 at the end of the year ^[5]. It's a real paper (or e-filed) form with actual financial detail: a statement of revenue, a statement of expenses, a balance sheet, and program service accomplishments. It's longer than the postcard but shorter than the full 990. If your booster club runs a concession stand, sells spirit wear, and takes in $120,000 a year across fundraisers and gate receipts, you're probably in 990-EZ territory. You'll need to list your officers and their compensation (usually $0 for volunteer boards, but the IRS wants to see that confirmed), describe your major fundraising activities, and reconcile your books to the numbers on the form. This is where basic recordkeeping habits either save you hours or cost you a very frustrating weekend. Starting with tax years beginning after July 1, 2019, the IRS requires electronic filing for Form 990-EZ as well, phased in over a couple of years for smaller filers ^[6]. Paper 990-EZ filing is essentially gone at this point; confirm current e-file requirements with the IRS before you file.

What is the full Form 990 and who has to file that one?

The full Form 990 applies to organizations with gross receipts of $200,000 or more, or total assets of $500,000 or more, regardless of receipts ^[5]. It's a genuinely long document, eleven core parts plus a stack of possible schedules, covering governance policies, compensation of highly paid staff and contractors, related-party transactions, and detailed program expense breakdowns. Most volunteer booster clubs and PTOs never get here. If yours does, and some large regional sports boosters or multi-school PTO federations do, it's worth budgeting for professional help. A CPA who handles nonprofit filings typically charges somewhere in the range of a few hundred to a couple thousand dollars for a full 990, depending on complexity; there's no single national number, so get quotes locally. This is not a form a first-time volunteer treasurer should tackle alone with a blank template.

Which 990 form do I file? (quick comparison)

990-N (e-Postcard)	Normally $50,000 or less [4]	No asset test	Free	Basic info only
990-EZ	Under $200,000	Under $500,000 [5]	Free to file (may pay a preparer)	Yes, full financial detail
Form 990 (full)	$200,000 or more, or assets $500,000+ [5]	$500,000 or more	Free to file (preparer fees common)	Yes, extensive detail
990-PF	Private foundations, any size	Any	Free to file	Yes	Notice there's no IRS filing fee for any version. The 'cost' of a 990 is almost entirely staff or preparer time, not a government charge. Our 990 tax form guide walks through picking the right version in more detail, and the irs form 990 overview covers the schedules if you land in full-990 territory.

Here's the threshold breakdown side by side. These are the standard thresholds; always confirm the current-year numbers on irs.gov before you file, since the IRS updates guidance periodically. | Form | Gross receipts | Total assets | Cost to file | Public? |

What happens if a booster club or PTO doesn't file its 990?

Nothing happens after missing one year. The IRS doesn't send a bill or a penalty notice for a single missed 990-N. But miss three consecutive years, and your organization's tax-exempt status is automatically revoked as of the filing due date of the third year, by operation of law, with no separate IRS action required to make it official ^[3]. The IRS publishes an Auto-Revocation List and updates it regularly; you can search your organization's name or EIN on the Tax Exempt Organization Search tool to check current status ^[2]. If you're revoked, donations made to your organization are no longer tax-deductible for donors going forward, and in most states you also lose your state tax-exempt or sales-tax-exempt status, which can trigger separate cleanup with your state revenue department. Getting reinstated involves filing Form 1023 or 1023-EZ again (yes, reapplying for exemption from scratch in most cases) along with all the delinquent 990s, and possibly requesting retroactive reinstatement if you can show reasonable cause for the failure . This is one of the most common messes a new volunteer treasurer inherits: the previous treasurer moved, filings stopped, and nobody noticed for two or three years until a bank asked for a determination letter.

What does a treasurer do? (the day-to-day version)

A treasurer manages an organization's money: tracking income and expenses, paying bills, reconciling the bank account, reporting the financial picture to the board, and making sure required filings like the 990 go in on time. That's the short answer. The longer answer is that a booster club or PTO treasurer is often the only person who understands the full financial picture at any given moment, which makes the role both important and a little lonely. Day to day, what a treasurer does looks like: depositing fundraiser cash promptly, keeping receipts for every purchase, updating a simple ledger or spreadsheet (or accounting software like QuickBooks or Wave), presenting a monthly or quarterly financial report at meetings, and coordinating with whoever handles the group's tax filings, whether that's the treasurer directly or an outside preparer. What a club treasurer does also includes things people don't expect until they're in the seat: renewing a state charitable solicitation registration, applying for or renewing a raffle license, making sure two people (more than one) can access the bank account, and handing off a clean set of records to the next treasurer without a six-month gap in documentation.

What is a treasurer, in plain terms?

A treasurer is the officer responsible for an organization's finances. In a small volunteer group, that means being part bookkeeper, part compliance officer, and part translator, turning bank statements into a report a room full of parents can understand in five minutes at a meeting. Most bylaws define the treasurer's duties in a sentence or two: maintain financial records, report to the board, handle deposits and disbursements. In practice, the job is bigger than the bylaws suggest, because the treasurer is usually the person who notices when something's off (a fundraiser vendor overcharged, a check never cleared, the state registration lapsed) before anyone else does. What does a treasurer do in a club that's smaller and less formal than a PTO or booster club? Often the same core things at a smaller scale: track dues, pay for uniforms or equipment, keep a simple cash log, and report the balance at meetings. The scale changes; the responsibility to be accurate and honest about the money doesn't.

What does a treasurer of a club actually do with the 990?

For most volunteer club treasurers, the 990 relationship is straightforward: gather the year's total income and expenses, confirm which threshold applies, and either file the 990-N directly online or hand a clean set of numbers to whoever prepares the EZ or full form. The treasurer doesn't need to be a tax expert. They need to be organized enough that the numbers are right and available when the filing deadline comes around. A practical habit: close the books at the same point every year (calendar year or a school-year cycle, whichever your bylaws specify), reconcile every account to the penny, and file within a few weeks of year-end rather than waiting until the May 15 deadline is a week away. Waiting until the deadline is when things get missed, especially during a treasurer handoff mid-year. If your organization has never filed a 990 or isn't sure of its exemption status, checking the IRS Tax Exempt Organization Search tool first is worth ten minutes before you file anything. A state-personalized treasurer kit that includes your state's filing calendar alongside the federal 990 deadlines can save a lot of this guesswork for a first-time treasurer, though plenty of groups build their own tracking spreadsheet and do fine with it too.

How do state charity registration and raffle rules interact with the 990?

Filing a federal 990 doesn't satisfy state requirements, and this trips up a lot of new treasurers. Most states require a separate charitable solicitation registration, often renewed annually, sometimes with its own financial reporting attached (occasionally a copy of your 990 is exactly what the state wants as an attachment). Raffle and gaming licenses are almost always a completely separate state or local process on top of that. The rules vary widely enough that giving a single number here would be misleading. Some states exempt small volunteer-run organizations from charity registration entirely; others require it starting at very low revenue thresholds. Confirm the specific registration and raffle licensing requirements with your state charity office or attorney general's office, since these thresholds and forms change and differ state to state. The practical takeaway: your 990 filing calendar and your state registration calendar are two different calendars. Missing either one causes different problems (federal auto-revocation versus state fines or loss of solicitation privileges), so track them separately even if you review both at the same meeting each year.

How much does it cost to file a 990?

The IRS charges no fee to file any version of the 990. Filing the 990-N costs nothing but your time. Filing the 990-EZ or full 990 costs nothing in government fees either, but most organizations at that size pay a preparer, whether that's a local CPA, an online nonprofit-focused filing service, or a volunteer with accounting experience. Preparer costs vary widely by region and complexity, commonly ranging from under $200 for a straightforward 990-EZ up to well over $1,000 for a full 990 with multiple schedules; get a local quote rather than assuming a national average applies to your group. The real cost of the 990, for most booster clubs and PTOs, isn't money. It's the volunteer hours spent reconstructing a year of receipts because nobody kept a running ledger.

What should a new treasurer do first when taking over the books?

Confirm your organization's current IRS status first, using the Tax Exempt Organization Search tool, before you do anything else ^[2]. If you find your group on the auto-revocation list, that's priority one to address, not the year's fundraiser planning. Next, find your EIN, your most recent filed 990 (or confirmation of 990-N submission), your state charity registration status, and your bank account signers. If any of those four things is missing or unclear, that's the gap to close in your first month, not your first year. Then build a simple, boring, repeatable system: a shared drive or binder with the last three years of filings, a calendar with every federal and state deadline, and a habit of reconciling the bank account monthly rather than scrambling every April. None of this is glamorous. It's also the entire job.

Frequently asked questions

What is Form 990?

Form 990 is the annual information return the IRS requires most tax-exempt organizations to file, reporting income, expenses, and governance details for the year. It comes in several versions (990-N, 990-EZ, full 990) depending on gross receipts and assets. It's public record once filed, except for the 990-N's basic contents.

What is a 990 tax form used for?

It's used by the IRS to confirm a nonprofit is still operating within its tax-exempt purpose, and by the public and donors to review an organization's finances. It's an information return, not an income tax bill, since most exempt organizations owe no income tax on program-related revenue.

What does a treasurer do in a booster club or PTO?

A treasurer tracks income and expenses, reconciles the bank account, reports finances to the board, and coordinates required filings like the 990 and state charity registration. In practice they're often the only person who sees the full financial picture, which makes accurate recordkeeping the most important part of the job.

What is the difference between Form 990-N, 990-EZ, and the full 990?

990-N is a free online postcard for organizations with gross receipts normally $50,000 or less. 990-EZ applies under $200,000 in receipts and under $500,000 in assets. The full Form 990 applies at or above those thresholds and requires much more detail, often needing a paid preparer.

What happens if my organization doesn't file a 990 for three years?

The IRS automatically revokes tax-exempt status after three consecutive years of missed required filings, no warning letter needed beyond routine reminders. Reinstatement typically means reapplying for exemption and filing the delinquent returns. Check the IRS Tax Exempt Organization Search tool to see if your group is already on the auto-revocation list.

Do small booster clubs really have to file anything with the IRS?

Yes, almost always. Even organizations with zero income in a given year, and organizations with gross receipts under $50,000, generally still must file the 990-N e-Postcard annually to keep their tax-exempt status. Very few small nonprofits are fully exempt from any annual filing requirement.

How much does it cost to file a 990?

The IRS charges no filing fee for any version. Preparer costs, if you use one for a 990-EZ or full 990, commonly range from under $200 to over $1,000 depending on complexity and region. The 990-N costs nothing and takes about ten minutes online.

When is the 990 due?

The 15th day of the 5th month after your organization's fiscal year ends. For a calendar-year group, that's May 15. There's no dollar late fee for a single missed 990-N, but three consecutive missed years triggers automatic revocation of tax-exempt status.

What is a treasurer, in simple terms?

A treasurer is the officer responsible for an organization's money: tracking it, reporting on it, and making sure required financial filings happen on time. In a volunteer nonprofit, the treasurer is usually part bookkeeper and part compliance officer, translating bank activity into reports the board can understand.

Can I file Form 990 myself without an accountant?

For the 990-N, yes, it's designed for a volunteer to file directly online in minutes. For the 990-EZ, many small organizations file it themselves too, though a first-time treasurer benefits from a template or guide. The full Form 990 is complex enough that most groups hire a preparer.

Is Form 990 public record?

Yes, filed 990-EZ and full 990 forms are public and searchable through the IRS Tax Exempt Organization Search tool and third-party sites like ProPublica's Nonprofit Explorer. The 990-N shows only basic identifying information, not detailed financials.

What does a club treasurer do that's different from a corporate treasurer?

A club treasurer usually handles everything personally: deposits, bookkeeping, reporting, and filings, with no accounting department behind them. The core duty (accurate, honest tracking of the money) is the same, but the volunteer treasurer does it alone, often while also volunteering in other roles for the same organization.

Does filing a 990 satisfy my state's charity registration requirement?

No, they're separate systems. Federal 990 filing goes to the IRS; state charitable solicitation registration and raffle licensing go through your state charity office or attorney general, often on a different schedule with different thresholds. Confirm your specific state's requirements directly with that office.

Sources

1. IRS, About Form 990: Purpose and legal basis (section 6033) for the annual information return
2. IRS, Tax Exempt Organization Search: Public tool to check exemption and revocation status and view filed 990s
3. IRS, Annual Reporting and Filing: Automatic revocation after three consecutive years of missed required filings
4. IRS, Annual Electronic Filing Requirement for Small Exempt Organizations (Form 990-N): 990-N eligibility for organizations with gross receipts normally $50,000 or less
5. IRS, Form 990 Series Which Forms Do Exempt Organizations File: Gross receipts and asset thresholds distinguishing 990-EZ from the full Form 990
6. IRS, Automatic Revocation of Exemption: Reinstatement process requiring reapplication for exemption and filing delinquent returns