Last updated 2026-07-24
TL;DR
Form 990-EZ is the mid-size annual return for tax-exempt groups with gross receipts under $200,000 and total assets under $500,000. It's longer than the 990-N postcard but shorter than the full Form 990. Due the 15th day of the 5th month after your fiscal year ends. Miss three years in a row and the IRS auto-revokes your exempt status [1].
What is Form 990, and where does the 990-EZ fit?
Form 990 is the annual information return that most tax-exempt organizations file with the IRS. It's not a tax bill in the usual sense (exempt orgs generally don't owe income tax on mission-related revenue), it's a disclosure document. The IRS, state charity regulators, watchdog sites, and even prospective donors use it to see what your group took in, what it spent, and who ran it. There are actually three versions, sized to the organization. The 990-N ("e-Postcard") is for the smallest groups, gross receipts normally $50,000 or less [1]. The 990-EZ sits in the middle, for organizations with gross receipts under $200,000 and total assets under $500,000 at year end [2]. The full Form 990 is for anyone above those numbers, plus certain organization types the IRS always requires to file the long form regardless of size. For background on the family of forms, see form 990 and irs form 990. If your booster club or PTO is small enough to file the postcard instead, read 990n or form 990-n before you commit to the EZ. One wrinkle worth flagging early: you can always choose to file a longer form than you're required to. Plenty of treasurers file the 990-EZ even when the postcard would technically work, because it gives donors and school administrators a cleaner financial snapshot. It's more work, but it's not against the rules to do more than the minimum.
What is a 990 tax form, exactly, and is it really a "tax" form?
Calling it a "990 tax form" is common shorthand, but it's a little misleading. Form 990 (in any version) is an information return, not an income tax return. Most 501(c)(3) and 501(c)(4) organizations don't calculate a tax bill on it. The IRS uses it to confirm your group is still operating consistent with its exempt purpose, and to check whether you've drifted into unrelated business income, excess compensation, or private benefit issues. That said, there is one place actual tax can show up: unrelated business income. If your booster club runs a snack shack that isn't tied to your exempt purpose, or rents out equipment commercially, that income might trigger Form 990-T and an actual tax payment [3]. The 990-EZ itself has a line (Part I, line 10 for UBI-related detail plus Schedule G for gaming/fundraising) where you disclose fundraising activity, but it doesn't compute income tax. So the honest one-line answer: "what is the 990" is a public disclosure form about your organization's money and governance, not a tax bill calculator. Confirm any UBI question with the IRS or a tax preparer, this article is not tax advice.
Who has to file the 990-EZ, and who can skip it?
You generally file Form 990-EZ if your organization's gross receipts were less than $200,000 and total assets were less than $500,000 at the end of the tax year [2]. If either number is over that threshold, you're bumped up to the full Form 990. If both are comfortably under $50,000 in gross receipts, you likely qualify for the much simpler 990-N instead, unless you prefer to file the EZ or full 990 voluntarily [1]. Gross receipts, per the IRS instructions, means the total amount your organization received from all sources during the year, before subtracting costs or expenses. That trips up a lot of booster treasurers: if your car wash grossed $40,000 but you only netted $12,000 after supplies and payouts, the $40,000 is still what counts toward the threshold, not the net. A few organization types can't use the 990-EZ even if they're small: private foundations always file Form 990-PF, and certain sponsoring organizations of donor advised funds, controlling organizations under section 512(b)(13), and section 501(c)(29) nonprofit health insurance issuers are required to file the full Form 990 regardless of size [2]. Church-affiliated groups that qualify as "churches" under IRS rules are generally exempt from filing at all, though most booster clubs and PTOs don't meet that definition. Gross receipts / assets | Form generally required ---|--- Under $50,000 gross receipts | 990-N (or EZ/990 voluntarily) Under $200,000 gross receipts AND under $500,000 total assets | 990-EZ (or full 990 voluntarily) $200,000+ gross receipts OR $500,000+ total assets | Full Form 990 Private foundation (any size) | Form 990-PF Confirm your organization's specific filing threshold with the IRS instructions for the current tax year before you file, because dollar thresholds and form editions do get updated [2].
What information does the 990-EZ actually ask for?
The form itself runs about four pages, plus whatever schedules apply to you. Part I is revenue, expenses, and changes in net assets, basically your income statement for the year. Part II is your balance sheet at the start and end of the year, cash, savings, and any other assets, plus liabilities. Part III asks you to describe your three largest program service accomplishments in plain language, this is where you'd describe things like "funded uniforms for 60 student athletes" or "paid for field trip buses for 4 elementary grades." Part IV lists officers, directors, and key employees, along with their average hours per week and compensation. Most volunteer booster and PTO treasurers report $0 compensation here, which is normal and expected. Part V covers other IRS filings and compliance questions, things like whether you filed Form 1099s, whether you had any political activity, and whether you're subject to the public inspection requirement. Depending on your activities, you may need to attach schedules. Schedule A (public charity status) is required for most 501(c)(3) filers. Schedule B (Schedule of Contributors) may be required if you had large individual donors. Schedule G is common for booster clubs and PTOs because it covers fundraising events and gaming, think raffles, bingo nights, and silent auctions. If your group runs any raffle, check [raffles-by-state] rules too, since state licensing is separate from IRS reporting. The IRS's official instructions for Form 990-EZ walk through every line item and which schedules trigger which requirements; that document, not a summary article, is the final word on edge cases [2].
What is a treasurer, and what does a treasurer do?
A treasurer is the person (usually a volunteer) responsible for tracking, safeguarding, and reporting an organization's money. In a booster club or PTO, that means keeping the checkbook or accounting software current, reconciling bank statements every month, and making sure the group's spending matches what the board and membership actually approved. So what does a treasurer do in practice, day to day? Deposit checks and cash from fundraisers promptly, usually within a few days, not weeks. Pay approved bills and reimburse volunteers with receipts on file. Prepare a simple financial report for board meetings showing income, expenses, and current bank balance. Keep records organized enough that if the treasurer role changes hands, the next person isn't starting from zero. What does a treasurer do in a club beyond the basics? Larger booster organizations often add budget preparation, coordinating with a bookkeeper or CPA, filing the annual 990 series return, and managing any state charitable solicitation or raffle registration. What does a club treasurer do that a general member doesn't? Signature authority on the bank account, usually shared with at least one other officer as a control, and the responsibility to flag any spending that doesn't fit the approved budget. In short: what do treasurers do, and what a treasurer does, comes down to three things. Track the money accurately. Protect it with basic controls (two signers, monthly reconciliation, no single person handling both cash collection and deposit alone). Report it honestly to the board, the membership, and the IRS. See [financial-controls] for a deeper walkthrough of cash-handling procedures that keep a treasurer, and the group's money, protected.
When is the 990-EZ due, and can you get an extension?
Form 990-EZ is due on the 15th day of the 5th month after your organization's accounting period ends [2]. For a calendar-year organization (year ending December 31), that's May 15 of the following year. For a fiscal year ending June 30, which is common for school-affiliated booster clubs and PTOs, the due date is November 15. If you need more time, file Form 8868 for an automatic 6-month extension. There's no need to explain why, the extension is automatic once you file the form on time [4]. That pushes a calendar-year filer's deadline to November 15, and a June 30 fiscal-year filer's deadline to May 15. Miss the deadline entirely, three years running, and the consequence is severe: automatic revocation of your tax-exempt status, by operation of law, no warning letter required beyond what's already on the books. The Pension Protection Act of 2006 built this into section 6033(j) of the Internal Revenue Code, and the IRS has enforced it aggressively since 2010 [5]. If that's already happened to your group, see the IRS's guidance on applying for reinstatement and Revenue Procedure 2014-11 for the streamlined retroactive reinstatement process available to small organizations [6].
What happens if a booster club or PTO is late or has never filed?
First, don't panic and don't just skip a future filing hoping it goes unnoticed. If you're late but haven't hit the three-year mark, file as soon as you can. Late filing penalties for Form 990-EZ generally run $20 per day the return is late, capped at the lesser of $12,000 or 5% of the organization's gross receipts for that year (figures updated periodically for inflation, confirm the current rate with the IRS instructions) [2]. If your organization already lost its exempt status through auto-revocation, you're not alone. The IRS has revoked exempt status from more than 760,000 organizations since the Pension Protection Act rule took effect, most of them exactly this kind of small, volunteer-run group that fell behind on paperwork during a leadership transition [5]. Reinstatement generally means refiling Form 1023 or 1023-EZ (for 501(c)(3) applicants) along with any past-due 990 returns, and, if you qualify, requesting retroactive reinstatement under Revenue Procedure 2014-11 so you're treated as continuously exempt without a donor-facing gap [6]. A messy handoff between treasurers is the single biggest cause of this. The outgoing treasurer disappears with the login credentials, the new one doesn't know a filing was ever due, and three years slip by. If you're stepping into a treasurer role with an unclear filing history, check the organization's status directly on the IRS Tax Exempt Organization Search tool before you assume anything, past or present . See [handoff-and-audits] for a checklist on what to demand from an outgoing treasurer before you sign anything.
How is the 990-EZ different from the 990-N and the full 990?
The differences come down to size and detail, not purpose, all three exist to disclose your organization's finances to the public and the IRS. Form | Who files it | What it requires ---|---|--- 990-N (e-Postcard) | Gross receipts normally ≤ $50,000 | 8 basic questions online, no financial detail, filed electronically only [1] 990-EZ | Gross receipts < $200,000 and assets < $500,000 | Full income statement, balance sheet, program descriptions, officer list, relevant schedules [2] 990 (full) | Gross receipts ≥ $200,000 or assets ≥ $500,000 | Everything above plus governance detail, compensation tables, extensive schedules The 990-N literally cannot be filed on paper and asks almost nothing beyond your EIN, legal name, mailing address, website (if any), confirmation your gross receipts are normally $50,000 or less, and a statement that you haven't terminated [1]. It takes about ten minutes. The 990-EZ takes real preparation time, usually a few hours to a full day depending on how organized your books already are, because you're building an actual income statement and balance sheet from your bank records. The full Form 990 is a multi-day project for most volunteer treasurers and is where many groups start paying a bookkeeper or CPA a few hundred to low thousands of dollars, depending on complexity. If you're not sure which one applies to your specific group this year, the safest move is to check your prior year's actual gross receipts and total assets against the thresholds above, not what you expect for next year. Compare all three forms side by side in more depth at [990](/articles/treasurer-basics/990) and 990-tax-form.
Do state charity regulators need a copy of the 990-EZ too?
Often, yes. Many states require nonprofits that solicit donations from residents to register with a state charity office or attorney general, and a lot of them accept a copy of your federal 990-EZ as part of that annual filing. Some states have their own separate financial report form on top of it. This varies enormously by state, and by how much money you raise. A booster club that only fundraises within one school community might be exempt from registration in some states, while a PTO running a statewide raffle almost certainly is not. Confirm the specific requirement with your state's charity registration office or attorney general before you assume federal filing is the only box to check . If your group runs raffles as a fundraiser, that's a separate licensing question entirely from either the IRS or general charity registration, most states require a distinct raffle or gaming permit with its own application, fee, and reporting deadline. See [raffles-by-state] before your next raffle night, not after.
What records does a treasurer need to actually fill out the 990-EZ?
You'll want twelve months of bank statements, a running ledger or spreadsheet of every deposit and expense categorized by type, receipts for anything over roughly $75 to $100 (a reasonable internal policy even though the IRS doesn't set that exact number for expense documentation), and a list of board members or officers with their titles and approximate volunteer hours. If your group ran any raffle, bingo night, or auction, pull together gross receipts from that event separately, since Schedule G asks for gaming and fundraising activity broken out from regular donations and membership dues. If you paid any individual or vendor $600 or more during the year for services, you likely needed to issue a Form 1099-NEC, and Part V of the 990-EZ asks whether you did. The cleanest approach: reconcile your bank account every single month during the year, more than once at filing time. A treasurer who's kept a running, categorized ledger can usually pull together the 990-EZ numbers in an afternoon. A treasurer starting from a shoebox of receipts in April is looking at a much longer slog, and a higher chance of an honest mistake on the return. This is exactly the gap the BoosterLedger State-Personalized Treasurer Kit ($99 one-time) is built to close: state-specific worksheets and a year-round ledger template so the numbers are already organized when 990-EZ season hits, instead of reconstructed from memory. Start at /treasurer-kit-builder.
Should a volunteer treasurer file the 990-EZ themselves or hire help?
Plenty of volunteer treasurers file it themselves, and for a straightforward booster club or PTO with clean monthly records, that's entirely reasonable. The form and its instructions are public and detailed [2], and IRS e-file is available through approved software providers. Where it makes sense to pay for help: your group had unusual activity (a large bequest, a capital campaign, a paid employee, significant investment income), you're not confident about unrelated business income exposure, or you're recovering from an auto-revocation and need to navigate retroactive reinstatement. A local CPA who handles small nonprofits typically charges a few hundred dollars for a straightforward 990-EZ, more if your books need cleanup first. Either way, this article and any other online guide is general information, not tax or legal advice, and it doesn't guarantee any particular filing or exemption outcome. When your situation gets specific, confirm with the IRS directly or a qualified preparer.
Frequently asked questions
What is Form 990?
Form 990 is the annual information return the IRS requires from most tax-exempt organizations. It discloses income, expenses, assets, program activities, and leadership, but it's not an income tax bill for most exempt groups. There are three sizes: the 990-N postcard, the mid-size 990-EZ, and the full Form 990, based on gross receipts and total assets [1] [2].
What is a 990 tax form used for?
It's used by the IRS and the public to verify a tax-exempt organization is still operating consistent with its exempt purpose and to check for issues like excess compensation or unrelated business income. It's a disclosure document, not a tax calculation, though certain income (like unrelated business income) can trigger a separate tax return, Form 990-T [3].
What is the 990-EZ, specifically?
Form 990-EZ is the mid-size version of the annual information return, for organizations with gross receipts under $200,000 and total assets under $500,000 at year end. It requires an income statement, balance sheet, program description, and officer list, plus schedules for things like fundraising events or public charity status [1].
What does a treasurer do in a booster club or PTO?
A treasurer tracks deposits and expenses, reconciles the bank account monthly, prepares financial reports for board meetings, manages reimbursements with receipts, and typically handles or oversees the annual 990-series IRS filing and any state charity registration. It's a stewardship role, more than bookkeeping.
What does a club treasurer do differently from a regular member?
A club treasurer usually has bank account signature authority (ideally shared with at least one co-signer as a control), authority to pay approved bills, and the responsibility to report spending against the approved budget to the board. Regular members don't hold that fiduciary or reporting responsibility.
How do I know if my group should file the 990-N or the 990-EZ?
Compare your prior year's actual gross receipts to the thresholds: normally $50,000 or less means the 990-N postcard is generally sufficient, while gross receipts under $200,000 with total assets under $500,000 means the 990-EZ. Use actual numbers, not projections, and confirm the current thresholds on IRS.gov since they can be updated [1] [2].
When is Form 990-EZ due?
It's due the 15th day of the 5th month after your fiscal year ends. Calendar-year filers (year ending December 31) file by May 15. Fiscal-year filers ending June 30, common for school-affiliated groups, file by November 15. An automatic 6-month extension is available via Form 8868 [1] [4].
What happens if a booster club misses three years of 990 filings?
The IRS automatically revokes tax-exempt status if an organization fails to file any required 990-series return for three consecutive years. This is automatic under Internal Revenue Code section 6033(j), added by the Pension Protection Act of 2006, no appeal or warning letter precedes it beyond the missed filings themselves [5].
How do we get our tax-exempt status back after auto-revocation?
Generally you refile the appropriate exemption application (Form 1023 or 1023-EZ for 501(c)(3) status) along with any past-due 990 returns. Small organizations often qualify for streamlined retroactive reinstatement under Revenue Procedure 2014-11, which treats the gap as if it never happened for donor deductibility purposes [6].
Do we need to file with our state too, more than the IRS?
Many states require charitable organizations soliciting donations to register separately with a state charity office or attorney general, sometimes accepting your federal 990-EZ as part of that filing. This varies by state and by how much and where you fundraise, confirm the requirement directly with your state's charity registration office [8].
What's the difference between the 990-EZ and the full Form 990?
The 990-EZ is for organizations with gross receipts under $200,000 and total assets under $500,000; it's shorter and requires less governance and compensation detail. The full Form 990 is required above those thresholds (or for certain organization types regardless of size) and demands significantly more disclosure [1].
Can a volunteer treasurer file the 990-EZ without hiring an accountant?
Yes, many do, especially with clean monthly bank reconciliations and organized records throughout the year. Consider paying for help if your group had unusual income, a paid employee, possible unrelated business income, or is recovering from auto-revocation, since mistakes there carry more consequence.
What records do I need before I sit down to fill out the 990-EZ?
Twelve months of bank statements, a categorized ledger of deposits and expenses, receipts for significant purchases, an officer/board list with approximate hours, and separate totals for any raffle, gaming, or auction fundraisers (needed for Schedule G). Reconciling monthly all year makes this an afternoon task instead of a scramble.
Sources
- IRS, Instructions for Form 990-EZ: Gross receipts and total asset thresholds for filing Form 990-EZ, due date formula, and late filing penalty structure
- 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 and its required content
- IRS, Unrelated Business Income Tax: Unrelated business income can trigger a separate Form 990-T filing and actual tax liability
- IRS, About Form 8868: Automatic 6-month filing extension available for exempt organization returns
- IRS, Automatic Revocation of Exemption: Three consecutive years of non-filing triggers automatic revocation under the Pension Protection Act of 2006, and over 760,000 organizations have been revoked
- IRS, Tax Exempt Organization Search: Tool to verify current exempt status and filing history of an organization