Last updated 2026-07-25
TL;DR
Form 990 is the annual information return nonprofits file with the IRS to report money in, money out, and who runs the show. A treasurer is the volunteer who tracks the books, pays bills, reports to the board, and makes sure that return (often the mini version, Form 990-N) gets filed on time so the group doesn't lose its tax-exempt status.
What is Form 990?
| Normally ≤ $50,000 | Form 990-N (e-Postcard) | |
|---|---|---|
| Normally < $200,000, and total assets < $500,000 | Form 990-EZ or full Form 990 | |
| Normally ≥ $200,000, or assets ≥ $500,000 | Form 990 (full form) | |
| Private foundations (any size) | Form 990-PF | Most small booster clubs and PTOs land in the first row. If your group's gross receipts normally run $50,000 or less, you file the 990n, sometimes called the form-990-n or e-Postcard, and it takes about ten minutes online. If you're not sure which bucket you're in, run your last three years of receipts and average them; that's the test the IRS actually uses. |
Form 990 is the information return that tax-exempt organizations file with the IRS every year instead of a regular income tax return. It's not really a tax bill. It's a public accounting of what the organization took in, what it spent, who sits on the board, and whether anyone got paid too much money for too little oversight. The IRS uses it to keep tabs on tax-exempt status. Donors and watchdog sites use it to size up an organization before writing a check. There are several versions, and which one your booster club or PTO files depends almost entirely on how much money moved through the organization that year. The IRS explains the family of forms on its Form 990 series overview page [1], and the short version is: small groups file a postcard, mid-size groups file a shorter paper form, and larger groups file the full 990. Here's the breakdown by size, based on IRS filing thresholds [1][2]: | Gross receipts | Which form |
What is the 990 tax form, exactly, and what does it ask for?
Calling it a "tax form" is a little misleading, since most exempt organizations owe no income tax on the money it reports. The irs-form-990 is really a disclosure document. The full version asks for a statement of revenue and expenses, a balance sheet, a list of officers and directors and their compensation, a description of the organization's programs, and answers to a long list of yes/no compliance questions (did you have a conflict of interest policy, did you engage in any lobbying, did anyone loan the organization money). The IRS's own instructions describe the purpose plainly: the form is used "to report the information required" for exempt organizations to keep the public and the IRS informed of their finances and governance [3]. Form 990-EZ, the middle-size version, hits the same major categories but with less detail and fewer schedules. Form 990-N, the e-Postcard, is barely a form at all: eight data points, mostly your EIN, legal name, address, and a confirmation that gross receipts are still under $50,000 [4]. One thing that trips up new treasurers: these returns are public. Anyone can look up a filed 990 through the IRS's Tax Exempt Organization Search tool or on ProPublica's Nonprofit Explorer. If your booster club pays a coach's kid $9,000 a year to run concessions, that number is visible to any parent who wants to look.
What does a treasurer do? (the short version)
A treasurer tracks the money, and reports on it honestly and regularly. That's the whole job stripped to its studs. Everything else, bank reconciliations, budget reports, tax filings, cash counts at the concession stand, is a spoke off that hub. Most bylaws for booster clubs, PTOs, and youth sports leagues assign the treasurer a specific bundle of duties: keep the checkbook and bank accounts, collect and deposit money, pay approved bills, keep receipts and records, prepare a financial report for every board meeting, and file the organization's annual tax paperwork (usually the 990-N) [5]. Some groups split "collect the cash" and "write the checks" between two different volunteers on purpose, because letting one unsupervised person do both is exactly how small nonprofits get quietly robbed. A good treasurer isn't necessarily an accountant. Most are parents with a spreadsheet and a shoebox of receipts, which is fine. What matters is consistency: same reporting format every month, same reconciliation habit, same due dates tracked on a calendar. If you want a structured way to build that habit in your first year, our State-Personalized Treasurer Kit is built around exactly that rhythm, a $99 one-time packet built for your state and org type, though plenty of treasurers run a fine operation with a plain spreadsheet and a shared drive.
What is a treasurer?
A treasurer is the officer of a club, PTO, or nonprofit responsible for its money and financial records. It's usually an elected or appointed board position with a defined term, often one or two years, and it usually comes with signing authority on the bank account. Legally, in most incorporated nonprofits, the treasurer is one of the required officer positions alongside president and secretary; many state nonprofit corporation statutes either require a treasurer-type role or let the bylaws define one. The IRS doesn't license or certify treasurers. There's no test, no credential, no state exam most volunteers need to pass. The role is defined entirely by your organization's bylaws and by common-sense fiduciary duty: don't spend the group's money on yourself, don't hide the numbers from the board, and keep good enough records that the next person can pick up where you left off. That last point matters more than people expect. Booster club and PTO treasurer turnover is high, often annual, and a shocking number of small nonprofits lose their tax-exempt status simply because three treasurers in a row assumed "someone else" filed the 990-N. The IRS auto-revokes organizations that fail to file for three consecutive years [6], and once that happens, getting reinstated costs real time and, sometimes, a real fee.
What do treasurers do, day to day and month to month?
Day to day, a treasurer opens mail, deposits checks, pays invoices, and answers the inevitable "can we afford new jerseys" question with actual numbers instead of a shrug. Month to month, the job has a rhythm. A typical monthly cycle looks like this: - Reconcile the bank statement against the check register or accounting software
- Record all deposits (concession sales, membership dues, fundraiser proceeds) with backup documentation
- Pay approved bills and reimburse volunteers with receipts on file
- Prepare a one-page financial report (income, expenses, current balance, budget-vs-actual) for the board meeting
- Flag anything unusual: a bounced check, a missing deposit, a bill nobody remembers approving Annually, the list grows: file the [990](/articles/treasurer-basics/990) (or 990-N, or 990-EZ, depending on size), renew any state charitable solicitation registration, check whether a raffle license needs renewing, and hand a clean set of books to whoever takes over next. Many booster clubs also need a state sales tax exemption renewal or a local business license check, depending on the state; that part is genuinely state-specific, so confirm with your state's charity office or attorney general's office rather than assume last year's rules still apply.
What does a club treasurer do differently from a corporate one?
A club treasurer, whether it's a booster club, PTO, or rec league, runs on a much smaller scale but often with less structure to lean on. There's no finance department, no bookkeeper on payroll, and usually no accounting software license beyond a free spreadsheet template. The treasurer is often the entire finance department. What does a treasurer do in a club setting specifically? Mostly cash. Booster clubs run concession stands, car washes, spirit-wear sales, and raffles, all of which move actual paper currency, which is the riskiest kind of money to handle. A club treasurer needs a real cash-handling procedure: two people counting concession revenue together, a deposit slip matching a cash-count sheet, a locked box instead of a coach's backpack. This is different from corporate treasury work, where money mostly moves electronically and gets caught by bank controls automatically. What does a club treasurer do that a PTO treasurer might not? Booster clubs are more likely to run raffles, which usually require a state gaming or charitable gambling license separate from the IRS paperwork; PTOs are more likely to handle school-affiliated accounts that need coordination with the school's own business office. Both need the same core discipline: written approval for spending, a paper trail for every dollar, and a report the board can actually read.
What does a treasurer of a club do about taxes specifically?
The treasurer is usually the one who confirms the organization's IRS exempt status is current, figures out which 990 variant applies, and either files it or hands the numbers to whoever does (a volunteer CPA parent, a paid preparer, or the treasurer themselves for the 990-N). The 990-N deadline is the 15th day of the 5th month after the organization's accounting period ends [4]. For a group running on a calendar year, that's May 15. For a group running on a school-year fiscal calendar (July 1 to June 30), that's November 15. Missing one year isn't fatal. Missing three years in a row is: the IRS revokes exemption automatically, and the organization's name shows up on the Auto-Revocation List [6]. Reinstatement usually means filing Form 1023 or 1023-EZ again, sometimes with a fee (currently $275 for the streamlined 1023-EZ track, per the IRS user fee schedule ), and in some cases paying back taxes for the years the group technically wasn't exempt. The treasurer's real job here is boring and mechanical: know the deadline, know the form, don't let three years slip by in silence. A simple calendar reminder solves 90% of auto-revocation cases before they start.
How does a treasurer actually file the 990 or 990-N?
For the 990-N, the process is entirely online through the IRS's e-Postcard system, and the IRS states plainly that "there is no paper form" for it [4]. You'll need the organization's EIN, legal name and any doing-business-as name, mailing address, the name and address of a principal officer, the tax year, and confirmation that gross receipts are $50,000 or less. It takes most people under fifteen minutes once they have the EIN in hand. For Form 990-EZ or the full Form 990, the process is heavier: financial statements, schedules for compensation and related-party transactions, and either e-filing through IRS-approved software or, in some cases, paper filing. As of recent IRS mandates, most exempt organizations required to file Form 990 or 990-EZ must now file electronically . If your booster club has crossed into 990-EZ or full-990 territory because a big capital campaign or gym renovation pushed receipts over $50,000, this is usually the point where paying a preparer familiar with nonprofit returns starts to make financial sense, rather than a volunteer parent muddling through Schedule L at midnight. Whichever version applies, the underlying records the treasurer needs are the same: a full year of bank statements, a categorized income and expense ledger, and documentation for any officer compensation or related-party transactions. Good monthly habits all year make the annual filing a two-hour task instead of a two-week scramble.
What does a treasurer do if the organization already lost its exempt status?
First, confirm it actually happened. Search the organization's name and EIN on the IRS Tax Exempt Organization Search tool, which includes the auto-revocation list. If the group is on it, the exemption date listed is real, and donations made after that date are technically not tax-deductible to donors until reinstatement. Second, don't panic and don't hide it from the board. This happens constantly to small volunteer-run groups; it is one of the most common reasons boards suddenly need a new treasurer mid-year. The fix is filing for reinstatement, usually through Form 1023-EZ if the organization qualifies (generally organizations that expect gross receipts under $50,000 and assets under $250,000), with the associated user fee currently listed at $275 on the IRS's fee schedule . Larger organizations use the full Form 1023, with a $600 fee . Third, once reinstated, put a system in place so it never happens again: a shared calendar with the filing deadline, a second officer who also gets the reminder email, and a written handoff document for the next treasurer. This is exactly the gap our State-Personalized Treasurer Kit is designed to close, but a free shared Google Calendar invite with two people on it works too, as long as somebody actually opens it every May.
Does a treasurer need to know anything about raffles or state registration?
Yes, and this is the part treasurers most often miss because it isn't federal, it's state-level and varies a lot. Running a raffle usually requires a separate state gaming or charitable gambling license, issued by a state gaming commission, secretary of state, or attorney general's office, not the IRS. Some states also require nonprofits to register with a state charity office before soliciting donations at all, sometimes called charitable solicitation registration. These requirements genuinely differ by state and change periodically, so this is a spot where a treasurer should confirm with the IRS and their state charity office or attorney general's office directly rather than trust a generic checklist. What's consistent everywhere: keep records of raffle ticket sales and prize payouts, because that income (and sometimes prize value over a threshold) affects the organization's gross receipts number, which in turn affects which version of Form 990 applies.
Frequently asked questions
What does a treasurer do?
A treasurer tracks an organization's money: deposits income, pays approved bills, reconciles bank statements, reports finances to the board, and usually files the annual IRS return (often Form 990-N for small groups). The exact duties come from the organization's bylaws, but the core job everywhere is honest, consistent record-keeping.
What is a treasurer?
A treasurer is the officer of a club, PTO, or nonprofit responsible for its finances, usually elected or appointed for a one- or two-year term with signing authority on the bank account. The role is defined by the organization's bylaws, not by any government license or certification.
What do treasurers do that other board members don't?
Treasurers hold financial authority other officers don't: bank signing power, spending approval authority, and responsibility for the annual tax filing. A president runs meetings and sets agenda; a treasurer is the one who can say, with numbers, whether the group can actually afford something.
What is Form 990?
Form 990 is the annual information return the IRS requires most tax-exempt organizations to file, reporting revenue, expenses, and governance details. Small organizations with gross receipts under $50,000 typically file the simplified Form 990-N instead, per IRS guidance [1][4].
What is a 990 tax form used for?
It's used by the IRS and the public to check an exempt organization's finances and governance, not to calculate income tax owed (most exempt orgs owe none). Donors and watchdog groups also use filed 990s to evaluate a nonprofit before giving.
What is the 990-N and who has to file it?
Form 990-N, the e-Postcard, is the simplified annual filing for exempt organizations with gross receipts normally $50,000 or less. It's filed entirely online, takes about eight data fields, and is due by the 15th day of the 5th month after the organization's fiscal year ends [4].
What does a club treasurer do specifically with cash?
A club treasurer sets up and enforces cash-handling controls: two-person counts at concession stands and raffles, cash-count sheets matched to deposit slips, and a locked cash box instead of loose cash in a bag. Cash is the highest-risk money type in a booster club, so controls matter more here than anywhere else in the job.
What happens if a treasurer never files the 990-N?
Nothing happens after one missed year. After three consecutive missed years, the IRS automatically revokes the organization's tax-exempt status, per IRS auto-revocation rules [6]. Reinstatement requires refiling for exemption (often Form 1023-EZ) and possibly paying a user fee, currently $275 for the streamlined version [8].
Does a treasurer need to be a CPA or accountant?
No. Most booster club and PTO treasurers are volunteer parents with no accounting credential. What matters is consistent record-keeping and honesty, not a certification. Larger organizations filing the full Form 990 sometimes hire a preparer, but Form 990-N doesn't require professional help.
What is the difference between Form 990, 990-EZ, and 990-N?
They differ mainly by organization size. Form 990-N (e-Postcard) is for gross receipts under $50,000; Form 990-EZ is for receipts under $200,000 and assets under $500,000; the full Form 990 covers everything larger, per IRS filing thresholds [1][2].
How long does filing Form 990-N actually take?
Most treasurers finish the 990-N in under fifteen minutes once they have the organization's EIN, legal name, address, and a principal officer's name ready. It's filed entirely online through the IRS system; there is no paper version of the form [4].
What records does a treasurer need to keep for the 990?
A full year of bank statements, a categorized income and expense ledger, receipts for expenses and reimbursements, and documentation of any officer or related-party compensation. These same records support the annual 990 filing and make handoff to the next treasurer far easier.
Sources
- IRS, Form 990 Series overview: which 990 variant an organization files depends on gross receipts and total assets
- IRS, Annual Exempt Organization Return: Who Must File: gross receipts and asset thresholds for 990-EZ vs full Form 990
- IRS, Instructions for Form 990: purpose and content of the full Form 990 disclosure
- IRS, Annual Electronic Filing Requirement for Small Exempt Organizations (Form 990-N): 990-N is online-only, due 15th day of 5th month after fiscal year end, required fields
- IRS, Tax Exempt Organization Search: tool for checking exempt status and auto-revocation status publicly
- IRS, Automatic Revocation of Exemption: organizations that fail to file for three consecutive years automatically lose tax-exempt status