IRS 990 filings for nonprofits: What treasurers need to know

Last updated 2026-07-24

What is Form 990 and why do nonprofits file it?

Form 990 is the IRS annual information return for tax-exempt organizations.^[1] Most 501(c)(3) charities, booster clubs, PTOs, and youth-sports leagues recognized as tax-exempt file a version of this form every year. The 990 tells the IRS and the public how much money the organization took in, where it spent that money, what programs it ran, and how it governs itself. The 990 isn't a tax return in the sense that you owe money. Tax-exempt organizations generally don't pay federal income tax on donations and program revenue. Instead, the 990 is a transparency report. The IRS uses it to monitor whether your group still deserves tax-exempt status. Donors and state charity regulators use it to see how you operate. Every filed 990 (except the postcard) becomes public record. If your organization fails to file the required 990 for three consecutive years, the IRS automatically revokes your tax-exempt status.^[2] That means donors lose the ability to deduct their gifts, and your group may owe taxes on revenue going forward. Thousands of booster clubs and PTOs lost their exemptions this way between 2010 and today because a departing treasurer never told the incoming treasurer about the filing. The form exists in three main versions: 990-N (the postcard), 990-EZ (short form), and the full Form 990. Which one you file depends entirely on your annual gross receipts and total assets. You don't get to choose the easy version if your numbers put you over the threshold.

Which version of the 990 does your organization file?

The IRS sets bright-line thresholds based on your gross receipts for the year. Gross receipts means all revenue: donations, fundraiser proceeds, membership dues, program fees, concession sales, interest income, everything before you subtract expenses.^[3] Form 990-N (e-Postcard): Organizations with gross receipts normally $50,000 or less file the 990-N electronically at the IRS website. It's eight questions, no financial detail required, takes ten minutes. You report your name, EIN, tax year, principal officer, and mailing address. No money is shown on the form. Form 990-EZ: Organizations with gross receipts between $50,000 and $200,000 and total assets under $500,000 file the 990-EZ. This is a four-page form reporting revenue by category, expenses by category, a simple balance sheet, and answers about governance and activities. Most booster clubs and PTOs that outgrow the postcard land here. Form 990 (full): Organizations with gross receipts over $200,000 or total assets over $500,000 must file the full 990 tax form, which runs 12 core pages plus schedules. The full 990 asks for program service descriptions, detailed compensation of officers, lists of top contributors, and answers to dozens of governance questions. Private foundations file Form 990-PF instead, but that doesn't apply to most booster clubs or PTOs. You file based on the current year's receipts, not last year's. If your receipts jump from $45,000 to $75,000, you file a 990-EZ that year. If they drop back under $50,000 the next year, you go back to the 990-N. The threshold is per tax year, not rolling average.

When is the 990 due and how do you file?

Your 990 is due on the 15th day of the 5th month after your fiscal year ends.^[4] If your group uses a calendar year (January 1 to December 31), the 990 is due May 15. If your fiscal year ends June 30, the 990 is due November 15. The due date shifts if the 15th falls on a weekend or federal holiday. You can request an automatic six-month extension by filing Form 8868 before the original due date. The extension gives you more time to file, but it does not extend the time to pay any tax owed if your organization has unrelated business income. Most small nonprofits file the extension out of habit because May arrives fast after closing the books in late April. The 990-N must be filed electronically at the IRS Tax Exempt Organization Search tool (formerly called the e-Postcard system).^[5] You need your EIN and the name and contact information for a principal officer. No software is needed. The system is free. The 990-EZ and full 990 can be filed on paper or electronically. Electronic filing is faster and you get an acknowledgment. Many treasurers use commercial software or work with a CPA. The IRS also offers a free Modernized e-File system for certain organizations, though it has registration requirements. If you miss the due date (including extensions) for three consecutive years, the IRS automatically revokes your tax-exempt status. The revocation is retroactive to the day after the third filing was due. You won't receive a warning letter before revocation; you'll find out when you search your EIN on the IRS website and see "Auto-Revoked."

What does a treasurer do with the 990?

The treasurer is almost always the person who gathers the financial records, fills out the ^[990](/articles/treasurer-basics/990), and files it. In a small booster club or PTO, "what does a treasurer do?" boils down to three big jobs: keep the books during the year, close the books after year-end, and file the 990. The 990 is the capstone. Here's the treasurer's checklist for a typical 990-EZ filing: 1. Close the books for the fiscal year. Reconcile every bank account, credit card, and petty cash. Make sure every check, deposit, and Venmo transfer is recorded. 2. Categorize revenue. The 990-EZ asks for contributions and grants, program service revenue (like registration fees or concession sales), membership dues, fundraising event gross revenue, and other income. You pull these from your ledger. 3. Categorize expenses. The form wants grants and similar amounts paid, benefits paid to members, salaries and other compensation, professional fees, occupancy, and other expenses. Again, you pull from your ledger. 4. Prepare a balance sheet. List cash, accounts receivable, land and buildings, other assets, accounts payable, and any other liabilities at the beginning and end of the year. Most booster clubs have cash and maybe one checking account; the balance sheet is simple. 5. Answer the Part V questions. These ask about governance (Did you have board meetings? Did you keep minutes? Did you have a conflict-of-interest policy?), activities (Did you engage in lobbying? Did you operate a school?), and compliance (Did you file all required federal employment tax returns?). 6. Get an authorized officer to sign. The president or another officer must sign under penalty of perjury that the information is true and complete. 7. File by the deadline or extension deadline. For a 990-N, the treasurer logs in to the IRS system, enters the EIN, confirms the organization's name and address, names the principal officer, and submits. No financial data is entered. What does a club treasurer do when the group is brand new and just received its tax-exempt determination? You file the 990 for the short year from formation to the end of your first fiscal year. The IRS counts that as year one. Miss it, and you're on the path to auto-revocation.

What information goes on the 990-EZ and full 990?

The 990-EZ (and full 990) collect far more than a simple income-and-expense summary. The IRS wants to see governance, compensation, activities, and compliance. Revenue section: You report contributions, government grants, program service revenue (money charged for services like sports registration or school fundraiser sales), membership dues, investment income, fundraising events (gross receipts, minus direct expenses, equals net), gaming (raffles, bingo), and sales of inventory. Each line item needs a number. Expense section: You report officer/director compensation, other salaries and wages, pension and benefits, professional fundraising fees, accounting fees, legal fees, supplies, postage, occupancy (rent or mortgage interest), equipment rental, printing, travel, and a catch-all "other expenses" with a required attachment listing each expense over $1,000. Balance sheet: Beginning-of-year and end-of-year columns for cash, savings, receivables, inventories, prepaid expenses, land and buildings, other assets, accounts payable, grants payable, deferred revenue, mortgages, other liabilities, and net assets (equity). Officers and key employees: The 990-EZ Part IV asks for the name, title, average hours per week, and compensation for each officer, director, trustee, and key employee. Most volunteer booster treasurers enter $0 compensation for everyone. If anyone received a stipend or reimbursement that looked like compensation, you report it here. Governance questions: Did the organization have a written conflict-of-interest policy? Did it keep contemporaneous records of board and committee meetings? Did it provide a copy of the 990 to the board before filing? These questions appear because the IRS wants to ensure volunteers are running real organizations with real oversight. Activities and compliance: Did you engage in lobbying? Did you operate a hospital or school? Did you make grants outside the US? Did you have unrelated business income? Did you file Forms W-2 and 1099 as required? The vast majority of booster clubs answer "No" to these, but you must answer them. The full IRS Form 990 adds schedules for specific situations: Schedule A for public charity status and support tests, Schedule B for contributor lists (kept confidential by the IRS but required), Schedule D for donor-advised funds and art collections, Schedule G for fundraising events detail, Schedule L for transactions with interested persons, Schedule M for non-cash contributions, and Schedule O for narrative explanations.

What happens if you file the wrong version or file late?

Filing the wrong version usually isn't catastrophic. If your receipts were $55,000 and you filed a 990-N when you should have filed a 990-EZ, the IRS will likely send you a notice asking for the correct form. You file the 990-EZ, explain the mistake, and move on. The IRS doesn't revoke your status for an honest error if you correct it promptly. But the IRS does penalize late filing. If you're required to file a 990-EZ or full 990 and you miss the deadline (with no extension), the penalty is $20 per day the return is late, up to the lesser of $10,500 or 5% of your gross receipts.^[6] For a small booster club, that's painful. The 990-N has no late-filing penalty in dollars, but missing it three years in a row still triggers revocation. Missing the filing for three consecutive years results in automatic revocation of tax-exempt status. "Three consecutive years" means three required annual filings, not three calendar years. If your group was required to file for 2020, 2021, and 2022 and filed none of them, your status was revoked effective the day after the 2022 due date. The IRS publishes a list of auto-revoked organizations every year; it typically includes several thousand small nonprofits.^[2] Recovering from auto-revocation requires filing Form 1023 or 1024 again (with another user fee) or filing Form 1023-EZ if you're eligible. The IRS treats you as a new applicant. You do not get retroactive exemption for the years you were revoked. Donors who gave during that period cannot claim a charitable deduction. Some booster clubs believe they don't have to file because they're "under the church" or "part of the school." That's usually wrong. If your booster club or PTO has its own EIN and its own determination letter, you file your own 990. If you truly are a disregarded subordinate of a parent organization (like a school district), the parent files a group return, but that's rare for volunteer groups.

Who can see your filed 990 and what's public?

Every 990-EZ and full 990 becomes a public document. The IRS posts them on the Tax Exempt Organization Search website (the new version of the old "Select Check" and "Publication 78" lists).^[5] Anyone can download your return and read every line, including your revenue, expenses, officer names, and answers to governance questions. The 990-N filing is acknowledged on the IRS website (you can confirm your organization filed), but the actual data you entered isn't published in detail. The public can see that you filed; they can't see your mailing address or contact details unless they already have your determination letter. Many states require you to submit a copy of your federal 990 as part of your annual charitable registration or renewal. If your state requires registration (most do for soliciting donations), you send the state your 990 along with the state-specific form. The state may publish it on its charity portal. You're also required by law to provide a copy of your three most recent 990 returns to anyone who asks in person.^[4] If a parent walks up to the PTO treasurer at a school event and requests the 990, you must provide it on the spot or mail it within 30 days. You can charge a reasonable copying and postage fee. This transparency rule is part of federal tax law, not an IRS courtesy. Schedule B (the list of donors who gave over $5,000 in a year) is filed with the IRS but is not made public. The IRS keeps Schedule B confidential. However, you still have to file it if your 990 or 990-EZ requires it.

What is a treasurer and what does a treasurer do in a club?

A treasurer is the officer responsible for the organization's money. In a booster club, PTO, or youth-sports league, the treasurer keeps the books, makes deposits, writes checks (or authorizes electronic payments), reconciles bank statements, produces financial reports for the board and membership, and files the annual 990. What does a club treasurer do day to day? You record every dollar in and every dollar out. You keep receipts. You run bank reconciliations monthly. You tell the board how much money is available before they vote to spend it. You prepare a budget at the start of the year and track actual spending against it. You make sure any required state fundraising licenses (raffle permits, bingo licenses) are filed and fees paid. What a treasurer does at year-end is critical: close the books, prepare the 990, file it on time, and hand off clean records to the next treasurer. That last part is where most booster treasurers fail. A treasurer handoff should include the EIN, bank account logins, a copy of the determination letter, the last three years of 990 filings, and a list of recurring due dates. Most booster treasurers are volunteers. The job rotates every one or two years. You're not expected to be a CPA, but you are expected to keep accurate records and file the 990 on time. If you don't know how, BoosterLedger's $99 state-personalized treasurer kit walks you through setup, monthly tasks, and the 990 filing process with templates built for booster and PTO treasurers. What does a treasurer do if the previous treasurer didn't file? You file the missing years as soon as possible. If it's been less than three years, you can avoid revocation. If it's been more than three years and your status is already revoked, you file to reinstate (see the IRS guidance on retroactive reinstatement if you can demonstrate reasonable cause).

How do you find your organization's determination letter and EIN?

Before you can file a 990, you need your Employer Identification Number (EIN) and proof that the IRS recognized your organization as tax-exempt. The determination letter is the official IRS letter that granted 501(c)(3) or other exempt status. It includes your EIN, the date recognition was granted, and the subsection code (501(c)(3), 501(c)(4), 501(c)(7), etc.). If you have the letter, you're set. If you don't, the first place to look is the previous treasurer's records. The determination letter should be in the archive file. If the previous treasurer disappeared, check the organization's bank account paperwork or any old tax filings. The EIN appears on every 990 filed. If you can't find the determination letter, call the IRS Exempt Organizations line at 877-829-5500. Give them the organization's legal name and address. They can look up your EIN and tell you the effective date of your exemption. Ask them to mail you a copy of the determination letter (officially called an "affirmation letter" when the IRS reissues it). This takes four to six weeks. You can also search the IRS Tax Exempt Organization Search tool with your organization's name.^[5] If your group appears as "Exempt" or "Auto-Revoked," you'll see the EIN, determination date, and subsection code. If it says "Auto-Revoked," you know you have a problem to fix. Once you have the EIN and determination letter, file any missing 990s immediately. If you're within the three-year window, you preserve your exemption. If you're outside it, you'll need to apply for reinstatement and potentially pay penalties.

What do you do if your booster club or PTO isn't recognized by the IRS?

Some booster clubs and PTOs operate for years without ever applying for tax-exempt status. Parents donate, the group spends money, and everyone assumes it's a nonprofit. But without an IRS determination letter, your organization is not tax-exempt. Donors cannot claim a charitable deduction. You may owe federal and state income tax on net revenue. If your group has gross receipts under $5,000 per year, you don't have to file Form 1023 or 1023-EZ to be recognized. The IRS considers you automatically exempt under 501(c)(3). But you still need an EIN, and you still file a 990-N every year. Many small PTOs qualify for this automatic exemption but never realize they should be filing the postcard. If your gross receipts are over $5,000, you must file Form 1023 (long application) or Form 1023-EZ (short application) to get a determination letter. Form 1023-EZ has a $275 user fee and is available if your assets are under $250,000 and your annual gross receipts are under $50,000. Most booster clubs and PTOs qualify. The form is three pages plus attachments. Processing takes two to four weeks if you file electronically. Once the IRS issues your determination letter, your tax-exempt status is retroactive to the date you filed the application (or the date you were formed, if you filed within 27 months of formation). You file your first 990 for the year you were formed or the year you were recognized, whichever comes first. If your group has been operating without recognition for years and has been taking in $60,000 a year, you have back taxes to worry about. Consult a CPA or tax attorney before you file Form 1023. You may need to file Forms 1120 (corporate tax returns) for the back years, report the income, and pay tax plus interest. The IRS isn't going to chase a volunteer PTO for $500 in back taxes, but if the numbers are large and someone complains, you can face penalties.

What are the most common 990 mistakes and how do you avoid them?

Forgetting to file. The number-one mistake is not filing at all. Set a recurring calendar reminder for four months after your fiscal year ends. If your year ends June 30, put a reminder on your phone for November 1 to start preparing the 990. Filing the wrong form. If your receipts were $55,000 and you file a 990-N, the IRS will ask for a 990-EZ. If your receipts were $45,000 but you had $600,000 in assets, you should have filed a full 990 (the asset test applies to the full form only). Check both the receipts and asset thresholds before you choose a form. Not keeping contemporaneous records. The 990-EZ asks if you kept minutes of board meetings. Many booster clubs hold meetings but never write anything down. The IRS wants contemporaneous records: meeting minutes, written conflict-of-interest policies, approval votes for spending. If you answer "No" to the governance questions, it raises a flag. Write down what happened at every board meeting, even if it's just a one-page summary and a list of who attended. Misclassifying fundraising events. A fundraiser like a pancake breakfast or silent auction goes on the 990-EZ in the revenue section, but you report gross receipts, then subtract direct expenses, and show the net. Don't just report the net as "contributions." The IRS wants to see the gross. Not reporting officer compensation correctly. If your president received a $500 stipend or your treasurer got reimbursed $1,200 for "expenses" that looked like compensation, report it in Part IV. If everyone is truly a volunteer and nobody received money, enter $0 for everyone. Don't leave it blank; blank looks like you forgot. Missing the extension deadline. Filing Form 8868 before the due date gives you six more months. But if you file the extension on May 20 when the due date was May 15, the extension is invalid. File the extension at least a week early to be safe. Not signing the return. The 990 isn't valid unless a principal officer signs it under penalty of perjury. That's usually the president, but it can be the treasurer or another authorized officer. Get the signature before you mail or electronically submit. Inconsistent year-to-year reporting. If last year's ending cash balance was $12,450 and this year's beginning cash balance is $9,000, the IRS will notice. The ending balance from one year must equal the beginning balance of the next. If they don't match, attach a Schedule O explanation ("We discovered an unrecorded check from the prior year"). Most of these mistakes come from a treasurer doing the 990 alone at 11 p.m. the night before the deadline. Start a month early, review the prior year's 990, and have a second person (the president or a board member) proofread the form before filing.

What is a 990 tax form used for beyond the IRS?

The 990 isn't just for the IRS. State charity regulators require it, grantmakers request it, and the public reads it to decide whether to donate. State charitable registration: Most states require nonprofits that solicit donations to register with the state attorney general or secretary of state. When you register (or renew annually), you submit a copy of your federal 990 along with the state form. The state uses your 990 to see if your finances are in order and whether you spent the money on charitable purposes. If you didn't file a 990, you can't complete the state registration, which means you can't legally solicit donations in that state. Grantmaker due diligence: Foundations, corporate giving programs, and even some large individual donors ask for your three most recent 990s before they write a check. They want to see your revenue trend, your program spending ratio, and your governance practices. If you can't produce a 990 (or it shows red flags like no board meetings or 100% spending on fundraising costs), you won't get the grant. Donor transparency: Websites like GuideStar (now part of Candid) and the IRS Tax Exempt Organization Search publish every 990. Prospective donors search for your organization, download the 990, and read it before they donate. If your 990 shows that the president paid herself $40,000 last year from a booster club that took in $50,000, donors will think twice. Bank account applications: Some banks ask for a copy of your determination letter and your most recent 990 when you open a nonprofit account or apply for a credit card. They want proof that you're a real exempt organization. State raffle and gaming licenses: When you apply for a raffle license, many states ask for your federal 990 as part of the application. They want to see that you're a legitimate charity and that your finances are in order. The 990 is your organization's financial report card. Treat it like a public document from the moment you start filling it out. If you wouldn't want a donor to see a line item, rethink the expense or at least describe it clearly in Schedule O.

Frequently asked questions

What is a treasurer?

A treasurer is the officer responsible for managing an organization's finances, including keeping the books, making deposits, writing checks, reconciling bank accounts, producing financial reports, and filing the annual IRS Form 990. In a booster club or PTO, the treasurer is almost always a volunteer parent serving a one- or two-year term.

What does a treasurer do?

A treasurer records all revenue and expenses, keeps receipts and bank statements, reconciles accounts monthly, prepares financial reports for the board, creates and tracks the annual budget, makes sure bills are paid on time, and files the IRS Form 990 by the due date. The treasurer also hands off clean records and passwords to the next treasurer when the term ends.

What does a treasurer do in a club?

In a club like a booster or PTO, the treasurer keeps the books, deposits fundraiser proceeds and donations, writes checks for approved expenses, produces a monthly treasurer's report for board meetings, tracks spending against the budget, and files the annual 990 with the IRS. The treasurer also answers member questions about spending and account balances.

What does a club treasurer do?

A club treasurer manages the organization's money. This includes recording every deposit and payment, reconciling the bank account, providing financial reports to the board and members, preparing the annual budget, filing the IRS Form 990, and ensuring required state charity registrations or raffle licenses are filed on time. The treasurer also maintains the determination letter and tax records.

What a treasurer does at year-end?

At year-end, the treasurer closes the books by reconciling every account, categorizing all revenue and expenses, preparing the balance sheet, completing the IRS Form 990, filing it by the due date (or extension deadline), and archiving records for the next treasurer. The treasurer also produces a final annual report showing total revenue, expenses, and ending cash balance.

What is form 990?

Form 990 is the annual information return that tax-exempt organizations file with the IRS. It reports revenue, expenses, assets, liabilities, governance practices, and program activities. The 990 comes in three versions: 990-N for groups with under $50,000 in receipts, 990-EZ for groups with $50,000 to $200,000, and the full Form 990 for groups over $200,000 or with over $500,000 in assets.

What is a 990 tax form?

The 990 tax form is the IRS annual information return for tax-exempt nonprofits. It isn't a tax return in the sense that you owe money; instead, it's a transparency report showing how the organization earned and spent its funds. Most 501(c)(3) charities, booster clubs, and PTOs file a version of the 990 every year.

What is the 990?

The 990 is the IRS form that tax-exempt organizations file annually to report their finances and activities. It shows revenue, expenses, assets, liabilities, officer names and compensation, governance practices, and program descriptions. Every filed 990 becomes public record, so donors, grantmakers, and state regulators can review it.

Do I have to file a 990 if my group took in less than $5,000?

If your organization is recognized as tax-exempt and you had gross receipts under $50,000, you file the 990-N (e-Postcard). If your group is not formally recognized and your receipts are under $5,000, the IRS considers you automatically exempt under 501(c)(3), but you should still file the 990-N every year to preserve your status and avoid auto-revocation.

What happens if I don't file the 990 for one year?

If you miss one year, you'll owe late-filing penalties (currently $20 per day for the 990-EZ and full 990, up to $10,500 or 5% of receipts). The IRS won't revoke your status for missing one year. File the missing return as soon as possible and include a reasonable-cause statement. If you miss three consecutive years, your tax-exempt status is automatically revoked.

Can I file the 990 myself or do I need a CPA?

You can file it yourself. The 990-N is a simple online form. The 990-EZ requires basic bookkeeping but no accounting degree. Many booster and PTO treasurers complete it using QuickBooks or Excel records. If your financials are straightforward and you have clean books, you don't need a CPA. If your group has complex grants, property, or employee payroll, a CPA review is smart.

Where do I mail the 990-EZ or full 990?

The mailing address depends on your state and whether you're including a payment. The IRS publishes the address list in the 990 instructions. Most small nonprofits in the eastern US mail to the IRS in Ogden, Utah; western groups mail to the IRS in Ogden or Kansas City. Electronic filing is faster and gives you immediate confirmation; commercial software or the IRS free e-file system handle it.

What do I do if my booster club was auto-revoked?

If your status was revoked for missing three years of 990 filings, you must apply for reinstatement. File Form 1023 or 1023-EZ with the user fee. If you can show reasonable cause (the treasurer disappeared, records were lost), you may qualify for retroactive reinstatement. File the missing 990s for the years you were revoked as soon as you're reinstated. Consult the IRS or a CPA if the gap is more than three years.

Do I need to file a 990 if my booster club is under the school's umbrella?

If your booster club has its own EIN and received its own determination letter from the IRS, you file your own 990. If your club is a disregarded subordinate of the school district (meaning the district applied for group exemption and you're listed under its master EIN), the district files a group return and you don't file separately. Most independent booster clubs and PTOs have their own EINs and must file.

Sources

1. IRS, About Form 990: Form 990 is the IRS annual information return for tax-exempt organizations
2. IRS, Automatic Revocation of Exemption: Organizations that fail to file required returns for three consecutive years automatically lose tax-exempt status
3. IRS, Form 990-EZ Instructions: Gross receipts include all revenue before subtracting expenses; filing thresholds are $50,000 for 990-N, $50,000, $200,000 for 990-EZ, over $200,000 or over $500,000 in assets for full 990
4. IRS, Publication 557, Tax-Exempt Status for Your Organization: Form 990 is due on the 15th day of the 5th month after the end of the organization's accounting period
5. IRS, Tax Exempt Organization Search: The IRS publishes filed 990s and organization exemption status in the Tax Exempt Organization Search tool
6. IRS, Form 990 Instructions, Penalties: Late-filing penalty for 990-EZ and full 990 is $20 per day, up to the lesser of $10,500 or 5% of gross receipts