What IRS Form 990 (2014) Is For
IRS Form 990 (2014) is an annual return that tax-exempt organizations, private foundations, and political organizations must file with the Internal Revenue Service. The form reports the organization’s gross receipts, total assets, and activities for the applicable tax year to ensure compliance with federal regulations. It promotes financial transparency and public accountability for nonprofit operations.
The information disclosed in Form 990 allows donors, regulators, and the public to evaluate how organizations manage their resources. It confirms whether the organization continues to qualify for tax-exempt status throughout its accounting period. Accurate filing demonstrates responsible stewardship from board members and officers. Consistent reporting reinforces trust and strengthens the integrity of nonprofit governance.
Further information on nonprofit reporting requirements is outlined in the Nonprofit & Exempt Organization Forms resource.
When You’d Use IRS Form 990 (2014)
Organizations file IRS Form 990 (2014) to report their annual income, demonstrate compliance, and maintain tax-exempt status. The Internal Revenue Service requires organizations with significant financial activity to prepare and submit this annual return. The filing confirms accountability and allows the organization to explain how it uses its resources to meet its stated purpose.
The filing period depends on the organization’s accounting period or fiscal year. The return is due on the fifteenth day of the fifth month after the end of that period. Extensions are available through Form 8868, which provides additional time to file when necessary.
Entities that fail to file for three consecutive years automatically lose their exemption. Each organization should provide accurate information and include relevant notes or amendments to explain changes or supply additional details.
Key Rules or Details for 2014
The Internal Revenue Service required organizations with annual gross receipts of $200,000 or more, or total assets of $500,000 or greater, to file Form 990 for 2014. Smaller organizations could file Form 990-EZ or Form 990-N, whichever applied to their filing category. Each return provided information that demonstrated transparency and accountability within the nonprofit sector.
The form was due on the fifteenth day of the fifth month following the end of the organization’s accounting period. For organizations following a calendar year, the deadline was May 15, while those with a fiscal year ending in June filed by November 15. Organizations may request an extension through Form 8868 if additional time is required.
Accurate filing ensured that organizations maintained compliance and avoided penalties for late or incorrect submissions.
Step-by-Step (High Level)
Organizations required to file IRS Form 990 must follow a structured process to meet annual filing requirements. The Internal Revenue Service sets criteria that determine which version applies based on gross receipts and total assets. Each step ensures that every organization submits accurate and complete information to maintain compliance.
Step 1: Determine whether the organization is required to file Form 990, 990-EZ, or 990-N.
Step 2: Collect financial data, including revenue, expenses, and program details.
Step 3: Complete all relevant parts of the form in sequence.
Step 4: Verify totals and schedules before submission.
Step 5: File electronically or request an extended deadline using Form 8868.
Following these steps helps organizations meet federal filing requirements and maintain compliance standards.
Common Mistakes and How to Avoid Them
Organizations completing IRS Form 990 often make errors that can be avoided through proper preparation. Each mistake affects accuracy and may require additional communication with the Internal Revenue Service. The table below identifies common mistakes and the correct preventive actions.
- Missing Signatures
- Ensure the authorized officer signs and dates the form before submission.
- Incorrect Totals
- Recheck all calculations and confirm totals match financial statements.
- Incomplete Schedules
- Review the checklist and include every required schedule before filing.
- Late Filing
- Submit the return before the due date, or file Form 8868 to obtain an approved extension.
Careful review and early preparation help organizations file complete and accurate returns while maintaining compliance.
What Happens After You File
After an organization files IRS Form 990, the Internal Revenue Service reviews it for completeness and accuracy. The review confirms that all required schedules, signatures, and financial details meet reporting standards established by the Internal Revenue Service. The agency verifies whether the return satisfies all filing requirements before it becomes part of the public record.
Once approved, the completed return appears in the IRS database and may also be listed on nonprofit information platforms. Each filer should keep a copy for future reference and internal recordkeeping purposes. If errors or missing information are found, the IRS sends written correspondence requesting corrections or clarifications.
Organizations must provide copies of their returns upon request for the most recent three years. Accurate and timely filing maintains public trust, strengthens accountability, and supports continued recognition of tax-exempt status.
FAQs
What is the due date for filing Form 990?
The due date for an organization’s annual return depends on the organization’s fiscal year. The form is due on the fifteenth day of the fifth month after the end of that period. Filing before the due date helps prevent penalties and maintains good standing with the Internal Revenue Service.
Who should file Form 990-EZ, 990-N, or 990-PF?
Organizations choose the version based on filing requirements and size. Smaller nonprofits with limited gross receipts may file Form 990-EZ or the electronic e-Postcard (Form 990-N). Private foundations are required to file Form 990-PF, which includes detailed reporting of grants, assets, and related financial activities.
What happens if a nonprofit fails to file Form 990?
If a nonprofit fails to file for three consecutive years, its tax-exempt status is automatically revoked. The organization must reapply to regain its tax-exempt recognition and comply with future filing requirements. Consistent filing ensures ongoing eligibility and transparency.
Where can organizations find official updates and additional information?
Organizations can access official instructions, updates, and examples on the Internal Revenue Service website. Each page includes a note labeled ‘Page Last Reviewed or Updated,’ which indicates when the information was verified. Filers should always review the latest guidance before submitting their annual return.
How can filers confirm the authenticity of the IRS website?
Filers should confirm the locked padlock icon appears in the browser’s address bar before submitting any information. The icon indicates a secure connection for transmitting data, such as the e-Postcard or other forms. This step protects sensitive organizational details and ensures access to accurate IRS resources.
