Last updated 2026-07-24
TL;DR
"Tax for 990" usually means figuring out which IRS 990-series return your nonprofit owes each year. Groups under $50,000 in gross receipts file the free Form 990-N e-Postcard; bigger groups file Form 990-EZ or Form 990. Miss three straight years and the IRS automatically revokes your tax-exempt status, no warning letter first.
What is the 990, in plain terms?
The 990 is the annual information return the IRS requires from most tax-exempt organizations, including booster clubs, PTOs, and youth sports nonprofits. It is not an income tax return in the way a Form 1040 is. It is a disclosure form: the IRS wants to see your revenue, spending, and board activity every year to confirm you are still operating like the nonprofit you claimed to be when you got your exemption. There isn't one single "990." There are four versions, and which one you file depends on your gross receipts and total assets for the year. Filing the wrong one, or filing late, is the single most common paperwork mistake among volunteer treasurers, mostly because nobody told the outgoing treasurer this was even a yearly requirement. The IRS states plainly that "most tax-exempt organizations are required to file an annual return" and that failing to do so for three consecutive years results in automatic loss of exemption [1]. That's the stakes here. This isn't a form you can skip because your group is small and volunteer-run. If you want the full mechanics of what goes on the return itself, see our form 990 breakdown.
What is a 990 tax form, and which version do I file?
| Normally ≤ $50,000 | Form 990-N (e-Postcard) | Free | |
|---|---|---|---|
| < $200,000, and assets < $500,000 | Form 990-EZ (or full 990) | Free (self-file) | |
| ≥ $200,000, or assets ≥ $500,000 | Form 990 | Free (self-file) | |
| Private foundations (any size) | Form 990-PF | Free (self-file) | Most booster clubs and PTOs land in the first row. A single concession stand, a car wash, and a spring auction rarely add up to $50,000 in a year, so the 990-N is what the average small group files. It's genuinely quick: legal name, EIN, tax year, mailing address, website if you have one, confirmation that receipts are still under the threshold, and the name of a principal officer [3]. If your group crosses $50,000, even for one unusually good fundraising year, you move up to the 990-EZ or full 990, and those ask for a lot more: a full statement of revenue and expenses by category, a balance sheet, and program service descriptions. There's no filing fee from the IRS for any version, but the EZ and full 990 take real time to prepare correctly, and many groups pay a bookkeeper or accountant a few hundred dollars to get it right the first year they cross the threshold. We cover the e-Postcard specifically in 990-n and form-990-n. |
A 990 tax form reports your organization's income, expenses, and activities for the fiscal year to the IRS. Which version you're required to file depends almost entirely on gross receipts, with total assets as a secondary factor for one tier. Here's the breakdown the IRS uses [2]: | Gross receipts | Form required | Cost to file |
What does a treasurer do?
A treasurer is the officer responsible for the organization's money: tracking it, reporting on it, and making sure it's spent the way the board and members expect. In a booster club or PTO, that means bank reconciliations, a running ledger of income and expenses, budget reports at meetings, and the annual IRS filing. What does a treasurer do day to day? Depositing checks and cash from fundraisers. Paying invoices (uniforms, referees, snacks, insurance). Reconciling the bank statement every month, more than at year-end. Keeping receipts organized so nobody has to reconstruct spending from memory in April. Presenting a simple income-and-expense report at each board meeting so members can see where money is going. What do treasurers do that's easy to skip but shouldn't be? Filing the annual 990-series return. It's the one duty that has zero visible consequence in year one, a mild consequence in year two, and a serious consequence (loss of tax-exempt status) in year three. New treasurers inherit a checkbook and a shoebox of receipts and nobody mentions the IRS deadline until it's already passed. If you're asking "what is a treasurer" because you just got voted into the role at a parent meeting, the honest answer is: you're now the person who keeps the group's federal exemption alive. That's a bigger job than it sounds like at first.
What does a club treasurer do specifically (booster clubs, PTOs, youth sports)?
What does a treasurer of a club do that's different from a corporate treasurer? Mostly scale and volunteers. A club treasurer of a youth soccer booster group or a PTO usually handles everything alone, with no paid staff and no accounting department behind them. What does a club treasurer do across a typical year: - Opens/maintains the group's bank account (never a personal account for club funds)
- Tracks every fundraiser's income and cost separately, so the board knows which events are actually worth running again
- Handles cash counts with a second person present at events (concessions, raffles, car washes)
- Files the 990-series return by the deadline, 4.5 months after fiscal year end
- Reports to the board monthly or quarterly with a simple statement
- Keeps records for handoff to the next treasurer What does a treasurer do in a club that also runs a raffle or games of chance? That adds a state-level filing on top of the federal one; state charitable gaming and raffle licenses are separate from IRS status and are handled by your state's gaming commission or attorney general, not the IRS. Confirm requirements with your state charity office before running one. One practical note: most booster clubs and PTOs are recognized under IRC Section 501(c)(3) if they support a specific charitable, educational, or amateur sports purpose, though some are 501(c)(4) or unincorporated associations that never formally applied. If your group never got an official IRS determination letter, the 990 filing question gets more complicated, and that's worth sorting out early rather than guessing.
When is the 990 due, and what happens if I file late?
Your 990-series return is due on the 15th day of the 5th month after your fiscal year ends. For a calendar-year organization (year ending December 31), that's May 15 [4]. For a group with a fiscal year ending June 30 (common for school-affiliated boosters), the deadline is November 15. A one-time, automatic 6-month extension is available using Form 8868, which pushes the deadline back six months from the original due date [5]. There's no penalty for filing the extension request itself, and no explanation required. What happens if you're late without an extension? For 990-N filers specifically, the IRS doesn't charge a monetary penalty for a single late e-Postcard [3]. But miss it three years running, and the organization's exempt status is automatically revoked as of the filing due date of the third year, by operation of law under Internal Revenue Code Section 6033(j) [6]. There's no warning letter before revocation happens; the IRS states the revocation is automatic once the third consecutive year is missed [1]. For 990-EZ and full 990 filers, late filing penalties do apply and can run $20 to $110 per day depending on the organization's gross receipts, up to set annual caps, per the IRS penalty guidance for exempt organizations [7]. That's real money for a volunteer group operating on concession stand profits.
What happens if my group's tax-exempt status gets revoked?
Automatic revocation means the IRS has removed your organization from the list of tax-exempt entities, effective as of the original filing deadline of the third missed year, not the date you noticed. The IRS publishes a searchable Auto-Revocation List and updates it monthly . Once revoked, your organization is treated as a taxable entity going forward: donations are no longer tax-deductible to donors, and the group may owe federal income tax on revenue going forward until reinstated. Many state and local benefits tied to federal exemption (property tax breaks, sales tax exemption, some grant eligibility) can also lapse, though this varies by state, so confirm with your state's department of revenue. Reinstatement is possible but takes real paperwork. Smaller organizations that qualify can use the streamlined retroactive reinstatement process (Form 1023 or 1023-EZ, with a reasonable cause statement) rather than starting from zero, provided they apply within 15 months of the revocation date or the later of two dates listed in Revenue Procedure 2014-11 . There is also a $275 fee for Form 1023-EZ or $600 for the full Form 1023 as of 2024 filing fee schedules ; if your group misses that 15-month window, reinstatement is still possible but the retroactive relief option narrows. This is exactly why the annual filing, boring as it is, matters more than almost anything else on a treasurer's plate. It costs nothing to file the 990-N on time. It costs real money and months of paperwork to fix a revocation.
How do I check if my organization is already revoked?
Search the IRS Tax Exempt Organization Search tool using your organization's name or EIN. It pulls directly from the same database that generates the Auto-Revocation List . If your group shows up there, don't panic, but don't ignore it either. The fastest first step: pull your EIN from an old bank statement or board minutes if you don't have it handy, then run that EIN through the search tool rather than the name, since name matching can be inexact for groups with generic names like "Eagles Booster Club." If you find revocation, the next move is figuring out which reinstatement path fits: streamlined retroactive reinstatement (small orgs, within the window), regular reinstatement effective on the postmark date of your new application, or a written reasonable-cause request. Revenue Procedure 2014-11 lays out all four available options and their requirements . This is genuinely one of the few spots where paying an accountant a couple hundred dollars for an hour of guidance is worth it, because the paperwork branches depending on your specific facts (how many years missed, gross receipts size, whether you have a reasonable cause argument).
What records does a treasurer need to actually prepare a 990?
You need a full year of bank statements, a running ledger of income and expenses by category, and documentation for anything unusual (a large donation, a loan, a vehicle purchase). For 990-N, that's it, really; you're not submitting financials, just confirming receipts stayed under $50,000. For 990-EZ or full 990, you'll also need: a beginning and ending balance sheet, a list of officers and their approximate hours worked per week for the organization, and a description of your program activities in plain language (what the money actually went to). If you paid any single vendor or contractor $600 or more, you likely also owe them a 1099-NEC, which is a separate obligation from the 990 itself and has its own January deadline. The fastest way for a first-year treasurer to get this together: request the last three years of 990 filings your predecessor submitted using the 990 tax form as a reference for structure, then match your current ledger to whatever categories were used before. Consistency year to year makes the return faster to prepare and makes irregularities easier to spot.
Do all booster clubs and PTOs actually have to file?
Yes, with very few exceptions. The IRS requires an annual return from essentially all organizations recognized as tax-exempt, regardless of size, including organizations with zero income in a given year [1]. "We didn't make any money this year" is not an exemption from filing; you still file the 990-N confirming receipts were under $50,000, which includes $0. The narrow exceptions are churches, certain church-affiliated organizations, and some government-affiliated entities, per IRS guidance on organizations not required to file [1]. A typical booster club or PTO doesn't fall into any of those categories. A separate and common trap: some booster clubs never formally applied for 501(c)(3) status. They operate as an unincorporated association, maybe with an EIN from years ago, but no IRS determination letter. If that's your group, the filing question gets murkier and depends on whether the IRS has you on record as tax-exempt at all. That's worth a direct call to the IRS Exempt Organizations customer account line or a conversation with a local accountant who handles nonprofits, before you assume either that you're covered or that you're off the hook. For a general orientation to the whole filing landscape, our irs form 990 overview and the [990](/articles/treasurer-basics/990) hub page are good starting points for new treasurers.
Frequently asked questions
What is Form 990?
Form 990 is the IRS's annual information return for tax-exempt organizations. It reports revenue, expenses, and activities to keep the public and the IRS informed that a nonprofit is still operating within its exempt purpose. There are four versions (990-N, 990-EZ, 990, 990-PF), and which one applies depends on gross receipts and assets, not on the organization's size or mission.
What is the 990-N e-Postcard?
The 990-N is the simplest 990-series return, for organizations with gross receipts normally $50,000 or less. It's free, filed online through the IRS website, and takes about ten minutes: legal name, EIN, tax year, address, and confirmation receipts stayed under the threshold. No financial statements are submitted with it.
What does a treasurer do in a booster club or PTO?
A treasurer tracks all income and expenses, reconciles the bank account monthly, reports to the board regularly, and files the required annual IRS return. In small volunteer-run groups, the treasurer usually also handles fundraiser cash counts, vendor payments, and keeping records organized for the next person who takes the role over.
What is a 990 tax form used for?
It's used by the IRS and the public to see how a tax-exempt organization raises and spends money. Donors, grantmakers, and watchdog sites like GuideStar/Candid pull data from filed 990s. For the organization itself, filing it on time is what keeps its tax-exempt status active.
When is the 990 due for a calendar-year nonprofit?
May 15, which is the 15th day of the 5th month after a December 31 fiscal year end. Groups with a different fiscal year (many school-linked boosters run July 1 to June 30) owe theirs by November 15 instead. A six-month extension is available using Form 8868.
What happens if my booster club misses three years of 990 filings?
The IRS automatically revokes tax-exempt status, effective as of the filing deadline of the third missed year. There's no warning notice beforehand. Once revoked, donations to the group stop being tax-deductible and the organization may owe federal income tax until it's reinstated.
How do I check if my nonprofit's exempt status was revoked?
Use the IRS Tax Exempt Organization Search tool at irs.gov, searching by EIN or organization name. It pulls from the same database used to generate the monthly Auto-Revocation List, so a search there tells you immediately whether your group currently shows as revoked.
Does a $0 revenue year still require a 990 filing?
Yes. Nearly all tax-exempt organizations must file an annual return regardless of income, even $0. For most small booster clubs and PTOs, that means filing the free 990-N e-Postcard confirming gross receipts stayed under $50,000, which zero clearly satisfies.
What is the difference between Form 990-N and Form 990-EZ?
Form 990-N is for organizations with gross receipts normally $50,000 or less; it's a short online confirmation with no financial detail. Form 990-EZ is for organizations under $200,000 in receipts and under $500,000 in assets; it requires a real income statement, balance sheet, and program descriptions.
Can a volunteer treasurer file the 990 without an accountant?
For 990-N, yes, most volunteer treasurers file it themselves in minutes. For 990-EZ or full 990, it's doable but takes more care since those forms ask for a balance sheet and detailed program information; many groups pay an accountant a few hundred dollars the first year they cross the $50,000 threshold.
Do raffles run by a booster club affect the 990 filing?
Raffle income counts toward your gross receipts total, which can push a group from 990-N eligibility into 990-EZ territory. Raffles also usually need a separate state gaming or charitable raffle license, which is unrelated to the IRS filing. Confirm raffle licensing rules with your state charity office or gaming commission.
What is a treasurer, in the context of a nonprofit board?
The treasurer is the officer elected or appointed to manage an organization's finances: bookkeeping, bank accounts, budget reporting to the board, and compliance filings like the annual 990. It's usually an unpaid volunteer role in booster clubs and PTOs, filled by a parent or community member for a one- or two-year term.
Sources
- IRS, Annual Exempt Organization Return: Who Must File: Most tax-exempt organizations must file an annual return; automatic revocation follows three consecutive years of non-filing
- IRS, Which Form to File: Gross receipts thresholds determine whether an organization files Form 990-N, 990-EZ, or full Form 990
- IRS, Form 990 Instructions: Annual returns are due on the 15th day of the 5th month after the organization's fiscal year ends
- IRS, Form 8868: Form 8868 provides an automatic 6-month extension of time to file an exempt organization return
- 26 U.S.C. Section 6033(j): Failure to file required annual returns for three consecutive years results in automatic revocation of tax-exempt status
- IRS, Tax Exempt Organization Search / Automatic Revocation of Exemption List: The IRS maintains a searchable database and monthly-updated list of organizations that have had exempt status automatically revoked
- IRS Revenue Procedure 2014-11: Revenue Procedure 2014-11 sets out four reinstatement procedures, including streamlined retroactive reinstatement within 15 months of revocation