Glossary / Form 990
What is Form 990?
The annual information return filed by tax-exempt organizations with the IRS.
Simple definition
The annual information return filed by tax-exempt organizations with the IRS. Reports revenue, expenses, assets, liabilities, and program activities. Variants include 990-EZ (gross receipts < $200K) and 990-N (gross receipts < $50K).
Why it matters for your nonprofit
Boards, auditors, and funders expect clarity on Form 990 because it affects how you report resources, stay compliant, and explain your financial story.
How it shows up in daily work
You will see Form 990 in board packets, grant reports, and donor conversations. The goal is to record activity once and report it consistently—without rebuilding spreadsheets every month.
Common mistakes
- Treating restricted resources like general cash because the chart of accounts is not set up for funds.
- Letting finance and development use different definitions for the same funds.
- Waiting until year-end to fix coding errors that should be caught monthly.
How Alignmint helps
Alignmint ties fund accounting, donor records, and reporting in one place so terms like Form 990 show up correctly in your books—not only in a policy memo.
FAQ
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