Last updated 2026-07-25
TL;DR
A 990 is the annual information return most tax-exempt nonprofits file with the IRS. Which version you file depends on gross receipts: under $50,000 means Form 990-N (the e-Postcard), under $200,000 in receipts and under $500,000 in assets usually means 990-EZ, and above that means the full Form 990. Miss three years in a row and the IRS automatically revokes your tax-exempt status.
What is Form 990?
Form 990 is the annual information return the IRS requires from most tax-exempt organizations, including booster clubs, PTOs, and youth sports nonprofits that hold 501(c)(3) or 501(c)(4) status. It is not a tax bill. Most small booster clubs owe zero income tax. The 990 exists so the IRS (and the public) can see how much money came in, where it went, and whether the group is still operating as the tax-exempt purpose it registered under. The IRS puts it plainly: "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]. That's the legal hook. Section 6033 of the Internal Revenue Code is what actually requires the filing, and it applies to almost every exempt organization regardless of size. There isn't one single 990 form. There are four versions, and which one your group files depends entirely on how much money moved through your books that year. Get the wrong one and the IRS will bounce it back or flag it later. Get none at all for three straight years and your tax-exempt status disappears automatically, no warning letter required.
What does a treasurer do?
A treasurer is the person responsible for tracking every dollar a club takes in and spends, keeping the bank and books in sync, and making sure the organization files whatever the IRS and state require to stay legal and tax-exempt. For a booster club or PTO, that usually means running fundraisers' cash counts, reconciling the bank statement monthly, keeping receipts for reimbursements, and filing the annual 990 (or making sure someone does). What do treasurers do day to day? Less glamorous stuff than people expect. It's data entry, spreadsheet upkeep, chasing down a coach who lost a receipt, and reminding the board that raffle tickets need a state permit before they go on sale. What does a treasurer do in a club setting specifically: pay approved invoices, deposit fundraiser cash within a day or two (never let it sit in someone's car), keep a simple ledger of income and expense categories, and hand over a clean set of books to the next person when their term ends. What is a treasurer, formally? Usually a volunteer officer elected under the club's bylaws, not a paid employee, and not a CPA. That's exactly why the 990-N and 990-EZ exist: they're built so a non-accountant volunteer can handle them without hiring a professional every year.
What does a club treasurer do that's different from a regular treasurer?
A club treasurer of a small booster club, PTO, or sports team faces a narrower, more repetitive version of the job than a corporate treasurer. What does a treasurer of a club do that's unique: manage concession stand cash, track member dues, handle raffle or spirit-wear proceeds, and reconcile against a bank account that might see fifteen small deposits a month instead of two large ones. The stakes are also different. A corporate treasurer worries about investment returns. A club treasurer worries about whether the popcorn money from Friday's game got counted by two people before it went in the bag, and whether the 990-N got filed before the fiscal year deadline so the group doesn't lose its exemption. Most of the actual dollar amounts are small (many booster clubs run under $50,000 a year), but the compliance stakes are the same as a much bigger nonprofit: miss the filing, lose the status, same as anyone else. One practical tip that saves headaches later: keep a single physical folder (or shared drive) per fiscal year with the bank statements, the filed 990, any state charitable registration renewal, and board minutes approving major purchases. Whoever takes over next year will thank you.
Which 990 form does my organization file?
| Normally $50,000 or less | any | Form 990-N (e-Postcard) [2] | |
|---|---|---|---|
| Less than $200,000 | Less than $500,000 | Form 990-EZ (or full 990) [3] | |
| $200,000 or more | Any, or assets $500,000+ | Form 990 (full) [3] | |
| Private foundations (regardless of receipts) | any | Form 990-PF [4] | The IRS's own language on the 990-N threshold: organizations "whose gross receipts are normally $50,000 or less" may file the e-Postcard instead of a full return [2]. "Normally" matters here. It's based on a rolling average over your most recent three tax years, more than the current one, so a single big fundraiser year doesn't necessarily bump you into a higher tier. If your receipts hover near a threshold, most treasurers are safer rounding up and filing the more detailed form; it costs nothing extra to file 990-EZ instead of 990-N, and it gives you a paper trail if anyone ever questions your numbers. For a full walkthrough of the smallest and simplest option, see 990-N and Form 990-N. |
The version of Form 990 you file depends on your organization's gross receipts and total assets for the tax year, not its official mission or size of membership. The IRS breaks it into three main tiers plus a fourth form for private foundations, which almost no booster club or PTO will ever need. | Gross receipts | Total assets | Form required |
What is the 990-N e-Postcard and who has to file it?
The 990-N, nicknamed the e-Postcard, is the shortest version of the annual filing, built for organizations with gross receipts normally $50,000 or less [2]. It's filed entirely online through the IRS's Form 990-N Electronic Filing System, takes maybe ten minutes if you have your EIN and basic org info handy, and asks for eight pieces of information: legal name, any other names used, mailing address, website (if any), EIN, tax year, name and address of a principal officer, and confirmation that gross receipts are still $50,000 or under [2]. There's no financial detail required beyond that yes/no confirmation. No expense breakdown, no balance sheet. That simplicity is exactly why most small booster clubs and PTOs land here. The IRS's own e-file system page confirms the 990-N "is filed electronically; there is no paper form" [2], so if a bank or vendor asks for a paper copy, print the confirmation email the IRS system sends after submission. One catch worth flagging: if your organization has never filed anything with the IRS to establish its tax-exempt status (meaning you don't yet have an official 501(c)(3) or similar determination letter), just filing a 990-N does not create tax-exempt status. That comes from filing Form 1023 or 1023-EZ and getting an IRS determination letter first.
What happens if we don't file a 990 for several years?
Miss three consecutive years of required 990 filings (in any combination of 990-N, 990-EZ, or full 990) and the IRS automatically revokes your organization's tax-exempt status, no hearing, no warning letter beforehand. This comes straight from the Pension Protection Act of 2006, codified at Internal Revenue Code section 6033(j): "the Secretary shall revoke" exempt status for any organization that fails to file a required return for three consecutive years [5]. The IRS publishes a running list of every organization automatically revoked, called the Auto-Revocation List, and it's searchable through the Tax Exempt Organization Search tool [6]. If your booster club shows up there, donations made to you after the revocation date are no longer tax-deductible for your donors, and depending on your state, you may also lose state sales tax exemption or eligibility for certain grants. Getting reinstated means filing Form 1023 or 1023-EZ again (yes, from scratch) and, in many cases, paying the application fee again ($275 for 1023-EZ as of the IRS fee schedule, subject to change, so confirm current pricing with the IRS before applying) [7]. There is a streamlined retroactive reinstatement process for small organizations that missed their filings but respond within a certain window, laid out in Revenue Procedure 2014-11, but it still requires paperwork and time most volunteer boards would rather not spend. The cheapest fix is never getting on the list in the first place: put your 990 due date on a shared calendar the same week you close out your books each year.
When is the 990 due, and can we get an extension?
Form 990 (in any version) is due on the 15th day of the 5th month after your organization's fiscal year ends. For a calendar-year organization (fiscal year ending December 31), that's May 15 of the following year [8]. If your fiscal year ends June 30, the due date is November 15. Missed the internal deadline? Organizations can request an automatic 6-month extension using Form 8868, which the IRS grants without requiring a reason on the form itself . The 990-N does not have an extension option because there's technically no penalty for filing it late in a single year (though repeated years still count toward the three-year revocation clock) [2]. A practical scheduling habit: pick the same board meeting each year, ideally the one right after your fiscal year closes, and put "confirm 990 filed" as a standing agenda item. Boards turn over. Deadlines don't.
Is there a penalty for filing the 990 or 990-EZ late?
Yes. Unlike the 990-N, the 990 and 990-EZ carry actual dollar penalties for late filing. As of recent IRS guidance, the penalty for organizations with gross receipts under $1,208,500 is $20 per day the return is late, up to a maximum of the lesser of $12,000 or 5% of the organization's gross receipts for the year . Larger organizations face steeper daily penalties, but that tier is unlikely for most booster clubs and PTOs. Those numbers adjust periodically for inflation, so confirm the current figures on the IRS's penalty page before assuming they haven't changed . The penalty accrues automatically; there's no discretion involved unless the organization can show reasonable cause for the delay, which the IRS evaluates case by case. Compare that to the 990-N: file it late, and generally nothing happens for that single year beyond the missed deadline itself. The real risk with 990-N is cumulative, not per-year. Three years missed (in any combination) and you're back to the automatic revocation problem covered above.
Are 990s public? Can anyone see our club's finances?
Yes, 990s (990-EZ and full 990) are public documents by law. Anyone can look them up, and several nonprofit databases republish them for free. The 990-N is technically public too, though it contains almost no financial detail, just the basic organizational info listed above. The IRS's own Tax Exempt Organization Search tool lets anyone pull up filed 990s, revocation status, and determination letters for any organization by name or EIN [6]. Donors, grant committees, and even nosy parents at your school can and do look these up. That's actually a good reason to keep the 990 accurate and not an argument for skipping it; a well-filed 990 with clean numbers is a credibility asset when you're asking a local business to sponsor next year's tournament. If your club nets more than pocket change, some board members ask about privacy for officer names and addresses listed on the return. The 990 does require the name of a principal officer, but home addresses generally aren't required, just an organizational mailing address, which is often a PO box for exactly this reason.
How does a treasurer actually prepare for filing?
Preparing for a 990 filing starts months before the deadline, not the week of. The core inputs are: total gross receipts for the year, total expenses by category, ending bank balances, and a short description of program activities (what the club actually did with the money). For 990-EZ and full 990, you'll also need a breakdown of revenue sources (dues, fundraiser proceeds, concession sales, sponsorships) and a rough balance sheet. The single biggest time-saver is a clean monthly reconciliation habit all year. If the treasurer reconciles the bank statement every month against a simple income/expense ledger, the year-end 990 prep is just adding up twelve months of numbers that are already right. If reconciliation only happens once a year in a panic, expect to spend a full weekend tracking down missing receipts and unexplained deposits. Some groups use a professional preparer or accountant for the full 990 once they cross into that tier, and that's a reasonable call once the paperwork gets complex enough to include a Schedule A or Schedule G for fundraising events. For 990-N and most 990-EZ situations, a competent volunteer treasurer with organized books can usually handle it without paying anyone. If you want a structured starting point built specifically for booster clubs and PTOs, the State-Personalized Treasurer Kit is a $99 one-time package with the recordkeeping templates and filing checklists set up for your state's rules, useful if you're taking over mid-year with no existing system.
What's the difference between the 990, 990-EZ, and 990-N in practice?
The practical difference is how much detail you're required to disclose, not whether you're exempt from filing. All three (plus 990-PF for private foundations) satisfy the same underlying legal requirement under IRC section 6033 [1]. The 990-N asks eight questions and takes ten minutes. The 990-EZ runs about four pages and asks for a real revenue and expense breakdown. The full 990 runs eleven pages plus schedules and asks for governance policies, compensation details, and program service accomplishments in depth. Many treasurers ask whether they can voluntarily file a more detailed form even if they qualify for the simpler one. Yes, you can, and as mentioned, it's sometimes smart to do this if your receipts are right at the edge of the $50,000 threshold, since it creates a clearer record. There's no penalty for filing "up" a tier voluntarily; the penalty risk only runs the other direction, filing a form that requires less detail than your actual receipts justify. For deeper reading on the full-form requirements, see Form 990, 990 tax form, and IRS Form 990.
What about state-level filing requirements on top of the federal 990?
Filing the federal 990 does not automatically satisfy state requirements. Most states with charitable solicitation laws require a separate annual registration or renewal, often through the state attorney general's office or secretary of state, especially if your club solicits donations from the public or runs raffles. Requirements, fees, and thresholds vary significantly by state, so confirm the specifics with your state charity office before assuming the federal 990 covers you. Some states also require a copy of the federal 990 attached to the state charitable registration renewal, which is one more reason to keep a clean digital copy of whatever you file with the IRS. If your club runs raffles as part of fundraising, check your state's specific raffle licensing rules separately; those are usually handled by a different office than the charity registration and have their own deadlines and fees.
Frequently asked questions
What does a treasurer do for a booster club or PTO?
A treasurer tracks all incoming and outgoing money, reconciles the bank account monthly, keeps receipts for reimbursements, oversees fundraiser cash handling, and files the organization's annual 990 with the IRS. It's a volunteer officer role defined by the club's bylaws, not a paid accounting position, though good recordkeeping habits matter just as much.
What is Form 990?
Form 990 is the annual information return the IRS requires from most tax-exempt nonprofits under Internal Revenue Code section 6033. It reports gross receipts, expenses, and program activities so the IRS and public can verify the organization still operates within its exempt purpose. It is not an income tax return; most small nonprofits owe no tax.
What is a 990 tax form used for?
It's used to report a tax-exempt organization's finances and activities to the IRS each year, confirming it still qualifies for tax-exempt status. It's called a tax form but usually doesn't calculate any tax owed for organizations operating within their exempt purpose. Failing to file it for three straight years triggers automatic revocation of that exempt status.
What is the 990-N e-Postcard?
The 990-N is the shortest 990 version, for organizations with gross receipts normally $50,000 or less. It's filed online in about ten minutes and requires only basic info: legal name, EIN, address, principal officer, and confirmation of the receipts threshold. There's no financial detail beyond that confirmation.
Which 990 form should our club file?
Check your average gross receipts over the last three years. Under $50,000 normally means Form 990-N. Under $200,000 in receipts and under $500,000 in assets usually means 990-EZ or full 990 (your choice). $200,000 or more in receipts, or $500,000 or more in assets, requires the full Form 990.
What happens if a nonprofit misses three years of 990 filings?
The IRS automatically revokes tax-exempt status under Internal Revenue Code section 6033(j), with no advance warning or hearing. The organization appears on the IRS Auto-Revocation List, donor contributions stop being tax-deductible, and reinstatement requires reapplying for exempt status from scratch, usually via Form 1023 or 1023-EZ.
Is there a fee to file Form 990-N?
No, filing the 990-N e-Postcard itself is free through the IRS's online system. If your organization has been auto-revoked and needs to reapply for exempt status, that reinstatement application does carry a fee (the 1023-EZ fee is $275 as of recent IRS schedules, but confirm current pricing with the IRS).
When is the 990 due each year?
The 990, in any version, is due the 15th day of the 5th month after your fiscal year ends. Calendar-year organizations (fiscal year ending December 31) file by May 15. An automatic 6-month extension is available for 990 and 990-EZ using Form 8868; the 990-N has no extension option.
Can our booster club file the 990-N even if we qualify for 990-EZ instead?
No, it works the other direction. If your gross receipts are normally $50,000 or less, you may file the simpler 990-N, but you can also voluntarily file the more detailed 990-EZ instead. You can't file a simpler form than your actual receipts qualify for; the penalty risk only runs toward under-disclosure.
Are 990 filings public information?
Yes. Full 990 and 990-EZ filings are public by law and searchable through the IRS Tax Exempt Organization Search tool, and several third-party databases republish them for free. The 990-N is also technically public but contains minimal financial detail, just basic organizational identifying information.
What's the difference between a treasurer and a bookkeeper for a club?
A treasurer is an elected volunteer officer responsible for financial oversight, reporting to the board, and filing required returns like the 990. A bookkeeper is typically a paid or volunteer role focused narrowly on data entry and recordkeeping. Small clubs usually combine both jobs into the treasurer role.
Do we need an accountant to file our club's 990?
Not necessarily. Most 990-N and many 990-EZ filings are simple enough for an organized volunteer treasurer to handle without hiring anyone. Once your organization crosses into full Form 990 territory with schedules for fundraising events or governance disclosures, a professional preparer becomes more worth the cost.
Sources
- IRS, About Form 990: Form 990 is filed under section 6033 to report to the IRS
- IRS, Annual Electronic Filing Requirement for Small Exempt Organizations (Form 990-N): 990-N eligibility threshold of $50,000 or less in gross receipts and required information fields
- IRS, Form 990 Series Which Forms Do Exempt Organizations File: 990-EZ and full 990 gross receipts and asset thresholds
- IRS, About Form 990-PF: Private foundations file Form 990-PF regardless of receipts
- IRS, Automatic Revocation of Exemption: Organizations that fail to file for three consecutive years automatically lose exempt status under IRC 6033(j)
- IRS, Tax Exempt Organization Search: Auto-revoked organizations and filed 990s are searchable publicly through this tool
- IRS, Annual Exempt Organization Return: Due Date: 990 due date is the 15th day of the 5th month after fiscal year end
- IRS, About Form 8868: Form 8868 grants an automatic 6-month extension for 990 filings