The full Form 990 is far more than a tax form. It is the most complete public record of how a nonprofit is run: what it does, who runs it, what they are paid, how the board governs and where the money goes. Treat it as a public report that happens to be filed with the IRS.
Who files it
An organization files the full Form 990 when its gross receipts (everything it received during the year, before subtracting any costs) are $200,000 or more or its total assets at year end are $500,000 or more. Sponsoring organizations of donor-advised funds, hospital organizations and certain controlling organizations file it at any size, and group returns must use it. Smaller organizations may file it voluntarily, but must then complete it fully. See which Form 990 to file.
The current version is the 2025 Form 990, used for calendar-year 2025 returns and fiscal years beginning in 2025. It must be e-filed, and an officer signs it electronically, usually through Form 8879-TE.
When it is due
The return is due on the 15th day of the 5th month after the year ends. A calendar-year 2025 return was due May 15, 2026. Filing Form 8868 by that date extends the deadline six months; because November 15, 2026 is a Sunday, the extended date is Monday, November 16, 2026. Check a fiscal-year date with the calculator below, and see our due date guide for the details.
The twelve parts
| Part | What it asks |
|---|---|
| I. Summary | A one-page snapshot: mission, number of voting members, employees and volunteers, revenue, expenses and net assets for this year and last |
| II. Signature block | The officer's signature and the paid preparer |
| III. Program service accomplishments | Mission and the three largest programs, with expenses, grants and revenue for each |
| IV. Checklist of required schedules | Yes/no questions that decide which schedules you must attach |
| V. Other IRS filings and tax compliance | Forms 1099 and W-2, employment tax, unrelated business income, foreign accounts and more |
| VI. Governance, management and disclosure | Board size and independence, family and business relationships, policies, how the 990 was reviewed |
| VII. Compensation | Officers, directors, trustees, key employees, the highest-paid employees and independent contractors |
| VIII. Statement of revenue | Contributions, program revenue, investment income, fundraising events and other revenue, split by type |
| IX. Statement of functional expenses | Every expense split among program services, management and general, and fundraising |
| X. Balance sheet | Assets, liabilities and net assets at the beginning and end of the year |
| XI. Reconciliation of net assets | Ties the change in net assets to the revenue and expenses reported |
| XII. Financial statements and reporting | Accounting method, whether statements were compiled, reviewed or audited, and Single Audit questions |
A closer look at the parts that take the most work
Part III: what you accomplished
Part III asks for your mission and a description of your three largest programs by expense, with the expenses, grants and revenue for each. Specifics help: people served, meals delivered, students taught. This is the one place on the return written in your own words, and many readers stop here.
Part IV: the schedule checklist
Each "yes" in Part IV points to a lettered schedule. For example, a 501(c)(3) answers yes on line 1 and attaches Schedule A; an organization that reports more than $15,000 of combined fundraising event contributions and gross income attaches Part II of Schedule G; one that received more than $25,000 of noncash contributions attaches Schedule M. Our schedules guide explains the common ones.
Part VI: governance
Part VI asks how many voting board members you have and how many are independent, whether any officers or directors have family or business relationships, and whether you have a written conflict-of-interest policy, whistleblower policy and document retention policy. Line 11a asks whether a complete copy of the return was given to the board before filing, and line 11b requires you to describe the review process on Schedule O. None of these policies is required by federal tax law, but the answers are public. See governance policies.
Part VII: compensation
You list every current officer, director and trustee, even unpaid ones, along with key employees paid more than $150,000, the five highest-paid other employees over $100,000, and the five highest-paid independent contractors over $100,000. Anyone listed whose reportable and other compensation tops $150,000 brings in Schedule J. Our compensation reporting guide covers the definitions.
Parts VIII and IX: revenue and expenses
Part VIII separates contributions from earned revenue. Fundraising event tickets are split: the part above the fair market value of what attendees received is a contribution (line 1c), and the rest is event revenue (line 8a). Part IX spreads every expense across three columns. Section 501(c)(3) and 501(c)(4) organizations must complete all four columns (total, program services, management and general, fundraising); other organizations must complete only the total column.
A youth mentoring nonprofit reports its spring gala and its director's salary.
It sold 400 tickets at $150. The dinner and entertainment were worth $60 per guest, so $90 per ticket is a contribution.
- Contributions from the event (Part VIII, line 1c): 400 × $90 = $36,000
- Gross income from the event (line 8a): 400 × $60 = $24,000
- Together, $60,000, well over $15,000, so Part II of Schedule G is required.
The executive director earns $90,000 and keeps a time log showing 60% on programs, 25% on administration and 15% on fundraising. In Part IX that salary is reported as $54,000 program services, $22,500 management and general and $13,500 fundraising.
The parts readers look at first
Grantmakers, donors and journalists usually read Part I (the summary), Part III (accomplishments), Part VI (governance), Part VII and Schedule J (pay) and Part IX (how much goes to programs versus administration and fundraising). Give those pages an extra review before filing.
Schedules
Part IV's checklist determines which of the lettered schedules you attach. Schedule O, for narrative explanations, is required for every Form 990 filer: at a minimum it describes how the return was reviewed (Part VI, line 11b) and how governing documents and financial statements are made public (Part VI, line 19).
Common mistakes
- Leaving questions blank. Every question that applies needs an answer, even when it is "no."
- Booking all of a gala's ticket price as a contribution, or putting event costs in Part IX instead of against event revenue in Part VIII.
- Leaving unpaid board members out of Part VII. All current officers and directors are listed.
- Allocating everything to programs without time records or another reasonable, documented method.
- A Part III that just repeats the mission. Describe what actually happened this year.
- Revenue and net assets that don't tie to the financial statements, with no explanation in Part XI or Schedule O.
An incomplete Form 990 can be penalized just like a late one. The IRS instructions say the late-filing penalty also applies when required lines or schedules are left blank or the information is incorrect. For returns required to be filed in 2026 that is $25 a day, or $130 a day for organizations with gross receipts over $1,309,500. See late-filing penalties.
The return is public
Your organization must provide copies of its three most recent returns to anyone who asks, and the IRS publishes them too. Donor names and addresses on Schedule B are withheld from the public copy for most organizations; nearly everything else is visible. See public disclosure rules.
Changes on the horizon
On April 23, 2026, the Treasury Department announced that the IRS plans to revise the Form 990 to add reporting by 501(c)(3) organizations on government grants, government contracts and fiscal sponsorship arrangements. Treasury said proposed regulations and a public comment period would come before any change is finalized. As of this update, no revised form or effective year has been announced; returns filed now use the 2025 form.
Frequently asked questions
Does the board have to approve the 990?
Federal law doesn't require board approval, but Part VI asks whether a complete copy was provided to the governing body before it was filed, and you must describe the review process, if any, on Schedule O. Many boards review it, and donors notice when they don't.
Is the Form 990 changing?
In April 2026 the Treasury Department announced that the IRS plans to revise the Form 990 to add reporting on government grants, government contracts and fiscal sponsorship. Proposed rules and public comment are expected first; no new form or effective year had been released as of October 2026.
How long does a full 990 take?
It depends on how organized the books are and how many schedules apply. The work is mostly in gathering information: compensation, related parties, grants, policies. A clean year-end close is the biggest time saver.
Do we need audited financial statements to file a Form 990?
The IRS doesn't require an audit. Part XII asks whether your statements were compiled, reviewed or audited, and whether you were required to have a Single Audit because of federal awards. Some states and grantmakers require audits above certain revenue levels, so check those rules separately.
Who signs the Form 990?
A current officer authorized to sign, such as the president, treasurer or executive director, signs under penalties of perjury. On an e-filed return the officer usually signs Form 8879-TE, which authorizes the preparer to transmit the return.
Sources
- IRS: 2025 Instructions for Form 990. irs.gov
- IRS: About Form 990. irs.gov
- IRS: Instructions for Schedule O. irs.gov
- IRS: Instructions for Form 8868. irs.gov
- U.S. Treasury: press release on planned Form 990 revisions (April 23, 2026). home.treasury.gov
IRS figures change; inflation-adjusted amounts are updated each year. We review this page when the IRS publishes new instructions.
990IRS.com is a private company, not the IRS. This page is general information, not legal or tax advice for your organization. Example organizations and figures are hypothetical.
