What is a 990 tax form and who files it?

Last updated 2026-07-24

What is Form 990?

Form 990 is the annual information return most tax-exempt organizations file with the IRS.^[1] Think of it as the nonprofit version of a tax return, except you're not usually paying tax. You're proving you're still operating for exempt purposes and showing the IRS and the public where your money came from and where it went. The IRS uses three main versions, scaled to organization size. Form 990-N is a postcard-style electronic notice for groups with gross receipts under $50,000.^[2] Form 990-EZ is a shorter paper or e-file return for gross receipts between $50,000 and $200,000 and total assets under $500,000.^[3] The full Form 990 is required when gross receipts exceed $200,000 or total assets exceed $500,000 in a tax year.^[3] Each version asks for progressively more detail. The IRS publishes a searchable database of all filed 990s (except 990-N filings), so donors and parents can look up your group's finances.^[4] This transparency is the price of tax-exempt status.

What does a treasurer do with Form 990?

The treasurer is typically responsible for gathering the financial records, filling out the correct 990 tax form, and ensuring it's filed on time. You're the one who knows the gross receipts number for the year, the ending cash balance, and which officers served during the period. Concretely, you pull the year-end bank statements, categorize income by type (fundraiser revenue, donations, membership dues), tally program expenses versus administrative costs, and answer questions about conflicts of interest and governance. The IRS wants to see you had written policies, independent board review, and arms-length transactions.^[5] Most booster club and PTO treasurers file Form 990-N because annual gross receipts stay under $50,000. That's a five-minute online form: organization name, EIN, tax year, confirmation the group still exists, and contact info.^[2] If you crossed $50,000 in gross receipts, you move to 990-EZ, which runs 4 pages plus schedules and takes a few hours the first time. Over $200,000 and you're filing the full 990, which is 12 core pages plus multiple schedules and genuinely benefits from a bookkeeper or CPA review.^[3] Deadline is the 15th day of the 5th month after your tax year ends.^[6] Most groups use a calendar tax year, so the deadline is May 15. Miss three consecutive years and the IRS automatically revokes your 501(c)(3) status, no warning letter.^[7]

What is a treasurer in a booster club or PTO?

A treasurer is the officer who manages the money. You keep the books, make deposits, write checks (or click approve in your bank app), prepare monthly financial reports for the board, and file the annual IRS Form 990. In a volunteer booster or PTO, the treasurer role rotates every one to three years. You're not expected to be an accountant. You are expected to keep clean records, require two signatures on checks over a threshold (often $500 or $1,000), reconcile the bank statement every month, and never commingle personal funds with the group's money. Most treasurers inherit a mess: a plastic tub of receipts, a spreadsheet with three different naming conventions, a checking account nobody reconciled since March. Your first job is to build a simple chart of accounts (income categories, expense categories), enter every transaction for the current year, and reconcile the bank. Then you can produce an accurate monthly treasurer's report and know which 990 form you need to file. The BoosterLedger Treasurer Kit gives new treasurers a state-personalized checklist, chart of accounts template, and step-by-step 990 filing guide so you don't have to invent the system from scratch.

Which version of Form 990 do I file?

The version you file depends on your gross receipts for the tax year and your total assets at year-end. Gross receipts means all money that came in: fundraiser sales, donations, membership dues, interest, everything before expenses.^[3] If gross receipts were under $50,000: File Form 990-N, the electronic postcard.^[2] No paper option exists. The form takes five minutes at irs.gov/charities-non-profits. You enter your EIN, confirm the group still operates, and submit. Done. If gross receipts were $50,000 to $200,000 and total assets under $500,000: File Form 990-EZ.^[3] This is a 4-page form plus a few schedules. You report revenue by category, expenses by program versus management, and answer governance questions. You can paper-file or e-file through an IRS-authorized provider. If gross receipts exceeded $200,000 or total assets exceeded $500,000: File the full Form 990.^[3] This is 12 core pages, Schedule A (public charity status), Schedule B (major donors, kept confidential by the IRS), Schedule O (narrative explanations), and often Schedule G (fundraising events), Schedule L (transactions with interested persons), and Schedule M (noncash contributions). Most groups this size hire a CPA or use nonprofit tax software. One trap: if you normally file 990-N but had a one-time capital campaign that pushed you over $50,000, you file 990-EZ that year, then drop back to 990-N the next year if receipts fall below $50,000 again.^[3] The IRS goes by actual receipts each year, not a three-year average.

What information does Form 990 require?

Every version asks for your organization's legal name, EIN, tax year, and mailing address. Beyond that, the detail scales with form complexity. Form 990-N (the e-postcard) asks for:

• Employer Identification Number
• Tax year
• Legal name and any DBAs
• Mailing address and web address if you have one
• Confirmation that gross receipts were under $50,000
• Confirmation the organization still exists
• Name and address of a principal officer^[2] Form 990-EZ adds:
• Revenue broken into contributions, program service revenue, membership dues, investment income, fundraising events (gross and net), and other sources
• Expenses broken into program services, management and general, and fundraising
• Balance sheet: cash, savings, receivables, inventory, land and buildings, other assets; liabilities; net assets
• List of officers, directors, and key employees with compensation (if any)
• Governance questions: written conflict-of-interest policy? document retention policy? whistleblower policy? How many board meetings did you hold?
• Program service accomplishments: narrative descriptions of your three largest programs^[3] Full Form 990 adds:
• Detailed functional expense allocation (salary, rent, postage, everything, split across program/management/fundraising)
• Schedule A, proving you're a public charity and not a private foundation (you pass a public support test)
• Schedule B, listing every donor who gave $5,000 or more (kept confidential by the IRS, not publicly disclosed)
• Schedule G, breaking out fundraising event revenue and expenses line by line
• Schedule L, disclosing loans to or from officers, business transactions with board members, grants to related organizations
• Schedule O, narrative explanations for anything marked "yes" or flagged on the core form^[5] All versions ask about significant changes in activities, foreign operations, and whether the organization engaged in political campaign activity (the answer for a 501(c)(3) must be no).^[1]

When is Form 990 due and what happens if I miss it?

The due date is the 15th day of the 5th month after your tax year ends.^[6] Most booster clubs and PTOs use a calendar tax year (January 1 to December 31), so the deadline is May 15. If you use a fiscal year ending June 30, your deadline is November 15. You can request an automatic six-month extension by filing Form 8868 before the original deadline.^[6] For a calendar-year filer, that pushes the due date to November 15. The extension is automatic, the IRS doesn't reject it, but you still must file the actual return by the extended deadline. Miss the deadline entirely and the IRS can assess penalties. For 990-EZ and full 990, the penalty is $20 per day the return is late, up to the lesser of $10,500 or 5 percent of gross receipts. Small organizations (gross receipts under $1,063,000 in 2024) face a reduced penalty of $20 per day up to $5,500. The IRS rarely enforces daily penalties on small volunteer groups if you file within a few months, but the statute allows it. The real penalty is auto-revocation. If you fail to file for three consecutive years, the IRS automatically revokes your tax-exempt status, effective the day after the third missed deadline.^[7] The IRS publishes a monthly list of auto-revoked organizations. You lose the ability to accept tax-deductible donations, and you may owe corporate income tax on net income for the years you weren't exempt. Reinstating exempt status requires filing all the missing 990s, paying any penalties, and submitting a new Form 1023 or 1023-EZ application, which costs $600 or $275 and takes months.

How do I file Form 990-N, the e-postcard?

Form 990-N is filed exclusively online at the IRS Tax Exempt Organization Search (formerly called the "e-Postcard" system).^[2] No paper version exists. You'll need your organization's EIN, legal name as registered with the IRS, tax year, and the name and contact info for a principal officer (often the president or treasurer). Go to irs.gov, search for "Form 990-N," and follow the link to the filing portal. The system walks you through eight questions. You confirm your gross receipts were under $50,000, that the organization still operates, and provide a mailing address and optional website. The whole process takes five minutes if you have your EIN handy. You get an immediate electronic confirmation when you submit. Print or save that confirmation. The IRS updates its public database within a few weeks, and you can verify your filing by searching your organization name at irs.gov/charities-non-profits (the Tax Exempt Organization Search tool).^[4] One gotcha: the system requires the exact legal name on your IRS determination letter. If your determination letter says "Oakwood High School Athletic Booster Club Inc." but you've been calling yourselves "Oakwood Boosters," use the full legal name or the filing will bounce. If you're not sure, check your determination letter or search the IRS database.

How do I file Form 990-EZ or the full Form 990?

Form 990-EZ and the full Form 990 can be filed on paper or electronically. Paper filing means printing the form, filling it out by hand or typing into the PDF, signing it, and mailing it to the IRS address listed in the instructions (the address varies by state).^[3] The IRS takes 6 to 12 weeks to process paper returns, and you have no instant confirmation. Electronic filing is faster, gives you instant confirmation, and reduces errors. The IRS mandates e-filing for organizations that filed 250 or more returns of any type during the year, but anyone can e-file voluntarily. You use an IRS-authorized e-file provider. Many nonprofits use services like ExpressTaxExempt, TaxAct for Nonprofits, or TaxSlayer Pro; prices range from $50 to $300 depending on form complexity and features. You'll need your organization's EIN, prior-year return (if you filed one), complete financial records for the tax year (bank statements, deposit records, receipts), a list of officers and directors, and written governance policies (conflict of interest, document retention, whistleblower) if you have them. The software or form walks you through each section. For 990-EZ, plan three to five hours the first year; the full 990 takes eight to twelve hours without professional help.^[3] An authorized officer (usually the president or treasurer) must sign the return under penalty of perjury. If you e-file, you create an electronic signature PIN. If you paper-file, ink signature and date at the bottom of page 4 (990-EZ) or page 1 (full 990).^[3][5]

What are the most common Form 990 mistakes booster treasurers make?

First mistake: filing the wrong version or not filing at all. Many small booster clubs assume they're "too small" to file anything, but the IRS requires even the 990-N e-postcard if you have tax-exempt status and gross receipts under $50,000.^[2] Miss three years and you're auto-revoked.^[7] Second: miscounting gross receipts. Gross receipts is everything that came in, including fundraiser revenue, donations, membership dues, and interest, before you subtract expenses.^[3] A common error is netting out the cost of goods sold from a cookie-dough sale and only reporting profit. The IRS wants gross revenue on the revenue line, expenses on the expense line. Third: forgetting to file after a big year. You filed 990-N for three years running, then you held a capital campaign and raised $75,000. You now owe a 990-EZ, not another 990-N.^[3] The IRS doesn't send reminders about which form to file; you have to track your own gross receipts. Fourth: leaving officer compensation blank when you should enter zero. The form asks for compensation paid to officers, directors, and key employees. If you're an all-volunteer group, write "$0" or check the box for "none." Leaving it blank looks like you didn't answer the question.^[3] Fifth: not keeping copies. The IRS posts 990-EZ and full 990 returns in a public database, but 990-N filings don't appear there.^[4] If you filed 990-N and later need proof of filing (for a state charity registration or a grant application), the only record is your confirmation screen. Print it or save the PDF every year. Sixth: ignoring Schedule G when you held a fundraising event. If you filed 990-EZ or the full 990 and you held a gala, auction, fun run, or any event where people paid to attend and you provided goods or services in return, you likely need Schedule G.^[3] The schedule breaks out ticket revenue, costs of the event, and net proceeds. Many small groups skip it and get a notice from the IRS a year later asking for an amended return.

Do I need to file Form 990 with my state too?

Maybe. The IRS Form 990 is federal, but many states require nonprofits to register with the state charity registration office (often under the attorney general) and submit an annual financial report. Some states accept a copy of your federal 990 as the annual report; others require a separate state form. For example, California requires most charities to register with the Attorney General's Registry of Charitable Trusts and file form RRF-1 plus a copy of the federal 990 each year. New York requires registration with the Charities Bureau and annual filing of form CHAR500, which incorporates 990 data. Texas has no state-level charity registration for most groups. Pennsylvania requires registration only if you solicit contributions from the public, and the annual report is a copy of your 990. The rules vary widely. Some states exempt PTOs and booster clubs if they only solicit from members or parents. Others require registration the moment you accept a donation from someone outside the school community. Most states tie the due date to your federal 990 deadline or within a few months after your fiscal year-end. Confirm your state's requirements by searching "[your state] attorney general charity registration" or visiting the National Association of State Charity Officials (NASCO) website, which links to each state's charity office. The BoosterLedger Treasurer Kit includes a state-specific checklist of filing requirements, including links to your state's charity registration portal and fee schedule.

What does a club treasurer do beyond filing Form 990?

Filing the 990 is one annual task. Day to day, a club treasurer keeps the books, meaning you record every deposit and every expense in a ledger or accounting software. You reconcile the bank statement every month, match the bank's ending balance to your ledger, identify outstanding checks, find math errors. You prepare a monthly treasurer's report showing income this month, expenses this month, and the current bank balance, and you present that report at the board meeting. You enforce financial controls. Two signatures on every check over a threshold (commonly $500 or $1,000). Count cash from fundraisers with a second person present and deposit it the same day or next business day. Issue a receipt for every donation. Keep copies of invoices and receipts organized by month. You produce an annual budget, usually in collaboration with the president and board. You project income by fundraiser (cookie dough, car wash, annual appeal), estimate fixed expenses (insurance, website hosting, state registration fees), and allocate funds to programs (scholarships, uniforms, equipment grants). During the year, you track actual versus budgeted spending and warn the board if a category is running over. You handle the handoff when your term ends. You prepare a written summary of the year's finances, show the incoming treasurer where the bank accounts are, hand over the debit card and checkbook, share logins to the accounting software, and explain which vendors need to be paid monthly. A clean handoff prevents the next treasurer from calling you six months later asking where the PayPal password is. Most booster and PTO treasurers serve one to three years. The role takes three to six hours a month during the school year, more during budget season or after a big fundraiser. It's not glamorous, but it's the most important officer position in the group because nothing happens without money and nobody trusts a group that can't account for its funds.

Frequently asked questions

What does a treasurer do?

A treasurer manages the organization's money: keeps the books, makes deposits, pays bills, reconciles the bank statement monthly, prepares financial reports for the board, enforces spending controls like two-signature checks, and files the annual Form 990 with the IRS. In a booster club or PTO, the treasurer is a volunteer officer, typically serving one to three years.

What is a treasurer?

A treasurer is the officer responsible for the financial records and cash handling of an organization. In a nonprofit booster or PTO, the treasurer is a volunteer board member elected or appointed by the membership, not a paid employee. You keep the books, report the finances to the board, and make sure the group stays compliant with IRS and state filing requirements.

What do treasurers do?

Treasurers record income and expenses, reconcile bank statements, prepare monthly financial reports, enforce internal controls (dual signatures, cash-handling procedures), produce an annual budget, file the IRS Form 990, and handle the transition to the next treasurer. Day-to-day tasks include depositing fundraiser cash, paying invoices, tracking receivables, and answering board questions about available funds.

What a treasurer does in a volunteer group?

In a volunteer booster club or PTO, a treasurer keeps clean financial records, deposits all funds into the group's bank account, writes or approves checks for legitimate expenses, reconciles the bank monthly, prepares a monthly treasurer's report, and files the annual Form 990 by the IRS deadline. You're also the one who knows how much money the group has before someone proposes a new spending idea.

What is Form 990?

Form 990 is the annual information return tax-exempt organizations file with the IRS to report revenue, expenses, assets, and governance practices. Most groups file one of three versions: 990-N (electronic postcard, under $50k gross receipts), 990-EZ (short form, $50k, $200k), or the full Form 990 (over $200k or total assets over $500k). Filing is mandatory even in years you raised no money.

What does a treasurer do in a club?

A club treasurer tracks all money coming in and going out, keeps the books up to date, deposits fundraiser cash and checks, writes checks for approved expenses, reconciles the bank statement each month, prepares a monthly report for the board, maintains financial records (receipts, deposit slips, bank statements), files the annual IRS Form 990, and hands off clean records and account access to the next treasurer.

What does a club treasurer do day to day?

Day to day, a club treasurer collects money from fundraiser chairs, deposits it the same day or next business day, records the deposit in the ledger, pays bills by check or online transfer, files the receipts and invoices, updates the budget tracking spreadsheet, and answers email questions from board members about account balances or spending authority. Monthly, you reconcile the bank and prepare a one-page financial report.

What is a 990 tax form used for?

A 990 tax form is used by the IRS to verify that a tax-exempt organization still qualifies for exemption and is operating within the rules of its exempt purpose. It's also a public disclosure document: the IRS publishes most 990s online so donors, grantmakers, and the press can see an organization's revenue, expenses, programs, and executive compensation.

What is the 990 and who files it?

The 990 is the annual information return most tax-exempt organizations file with the IRS. You file it if your group has 501(c)(3) or other tax-exempt status and had gross receipts above the $5,000 annual threshold (most booster clubs and PTOs qualify). Churches are exempt from filing. Private foundations file 990-PF, a different form.

What does a treasurer of a club do at the end of the year?

At year-end, the club treasurer closes the books (record all December transactions, reconcile the final bank statement), calculates gross receipts for the tax year to determine which Form 990 to file, prepares and files the 990 by the IRS deadline (typically May 15 for calendar-year groups), produces a year-end financial report for the board, and archives all receipts, bank statements, and financial records for at least three years.

Can I file Form 990 myself or do I need an accountant?

Most booster and PTO treasurers file Form 990-N (the e-postcard) or 990-EZ themselves without an accountant, using the IRS instructions and online filing tools. If your gross receipts exceed $200,000 or you have complex transactions (loans, related-party deals, foreign activities), hiring a CPA to prepare the full Form 990 is a smart investment. Expect to pay $800 to $2,500 depending on complexity.

How long does it take to complete Form 990-EZ?

The IRS estimates 16 hours for recordkeeping, 6 hours for learning about the form, and 7 hours for preparing and filing Form 990-EZ, totaling roughly 29 hours for a first-time filer.^[3] In practice, experienced booster treasurers with clean monthly books complete 990-EZ in 3 to 5 hours. If your records are a mess, add time to reconstruct the year's transactions and categorize them correctly.

What happens if my booster club never applied for 501(c)(3) status?

If you never applied for tax-exempt status, you don't file Form 990 because you're not recognized as exempt. Technically, you're an unincorporated association or a taxable nonprofit corporation, and you may owe federal corporate income tax on net income over $600. Donations to your group are not tax-deductible to donors. Most booster clubs and PTOs apply for 501(c)(3) status using Form 1023-EZ ($275 fee, typically approved in weeks) to gain tax exemption and donation deductibility.

Do PTOs have to file Form 990 if the school files one?

Yes. A PTO is a separate legal entity from the school, so you must file your own Form 990 if you meet the filing threshold (gross receipts normally above $5,000). The school's 990 covers the school's finances, not the PTO's. If the PTO is formally part of the school (rare: the school board controls the PTO's funds and decisions), then the school includes PTO finances in its return and no separate filing is required. Confirm your structure with the IRS or your state.

Sources

1. IRS, Form 990 Instructions: Form 990 is the annual information return filed by most tax-exempt organizations
2. IRS, Form 990-N Electronic Notice (e-Postcard): Organizations with gross receipts under $50,000 file Form 990-N electronically; the form asks for EIN, tax year, legal name, mailing address, principal officer, and confirmation the group still operates
3. IRS, Form 990-EZ Instructions: Form 990-EZ is for organizations with gross receipts between $50,000 and $200,000 and total assets under $500,000; full Form 990 required over $200k or assets over $500k; the IRS estimates 29 hours total burden for 990-EZ first-time filers
4. IRS, Tax Exempt Organization Search: The IRS publishes a searchable database of filed 990-EZ and full 990 returns; 990-N filings do not appear in the public database
5. IRS, Form 990 Instructions 2023: Full Form 990 requires Schedule A (public charity status), Schedule B (major donors), Schedule L (transactions with interested persons), Schedule O (narrative explanations), and governance questions about written policies
6. IRS, Extension of Time to File Exempt Organization Returns: Form 990 due date is the 15th day of the 5th month after tax year ends; automatic six-month extension available via Form 8868
7. Pennsylvania Bureau of Charitable Organizations: Pennsylvania requires charity registration if you solicit contributions; annual report is a copy of your federal 990