Hi bucknell,
Generally, yes, a 501(c)(3) organization will have to use Form 990 or
990-EZ if the annual gross receipts are over $25,000, but you'll have
to read Form 4221 to determine where your organization fits in because
there are exceptions.
Filing Requirements
"Generally, tax-exempt organizations must file an annual information
return. Tax-exempt organizations that have annual gross receipts not
normally in excess of $25,000 are not required to file the annual
information return. In addition, churches and certain religious
organizations, certain state and local instrumentalities, and other
organizations are excepted from the annual return filing requirement.
For more information, download Publication 557, Tax-Exempt Status for
Your Organization. In addition, Publication 4221, Compliance Guide for
501(c)(3) Tax-Exempt Organizations, explains the filing and
recordkeeping rules that apply to organizations that have tax-exempt
status under section 501(c)(3)."
"Tax-exempt organizations, other than private foundations, must file
Form 990, Return of Organization Exempt From Income Tax, or Form
990-EZ, Short Form Return of Organization Exempt From Income Tax. The
Form 990-EZ is designed for use by small tax-exempt organizations and
nonexempt charitable trusts. An organization may file Form 990-EZ,
instead of Form 990, only if (1) its gross receipts during the year
were less than $100,000, and (2) its total assets (line 25, Column (B)
of Form 990-EZ) at the end of the year were less than $250,000. If
your organization fails to meet either of these conditions, you cannot
file Form 990-EZ. Instead you must file Form 990. All private
foundations exempt under 501(c)(3) must file Form 990-PF, Return of
Private Foundation."
"Form 990, Form 990-EZ, or Form 990-PF must be filed by the 15th day
of the 5th month after the end of your organization's accounting
period. The Form 990 and Form 990-EZ instructions and the Form 990-PF
instructions indicate the Service Center to which they must be sent."
note: click on the link for more details.
http://www.irs.gov/charities/article/0,,id=96103,00.html
Publication 4221, Compliance Guide for 501(c)(3) Tax-Exempt Organizations:
"Most tax-exempt organizations must file an annual tax-exempt
organization return in the Form 990 series. Section 501(c)(3)
organizations also generally file Schedule A and Schedule B, Schedule
of Contributors, of Form 990. In addition, exempt organizations must
file returns and reports generally filed by other taxpayers, such as
employment tax returns."
What federal tax reports and returns must be filed?
Form 990 Series
"Most 501(c)(3) organizations must file an annual return detailing
their income, expenditures, and activities. All private foundations
and most nonexempt charitable trusts must file Form 990-PF, Return of
Private Foundation. Unless excepted from the annual return
requirement, other 501(c)(3) organizations file Form 990, Return of
Organization Exempt From Income Tax, or Form 990-EZ, Short Form Return
of Organization Exempt From Income Tax. An organization may file Form
990-EZ if its gross receipts are less than $100,000 during the year,
and its total assets are less than $250,000 at the end of the year.
Otherwise, it must file Form 990."
Form 990 Filing Exceptions
"Organizations not required to file Form 990 or Form 990-EZ are:
* churches and certain church-affiliated organizations
* certain organizations affiliated with governmental units
* organizations (other than private foundations) whose annual gross
receipts are normally less than $25,000 (from sources within the U.S.,
for foreign organizations)
* organizations covered by a group return
See the instructions to Forms 990 and 990-EZ for complete details on
filing exceptions."
note: click on the link for more details.
http://www.irs.gov/pub/irs-pdf/p4221.pdf
Publication 557, Tax-Exempt Status for Your Organization
http://www.irs.gov/pub/irs-pdf/p557.pdf
Form 990, Return of Organization Exempt From Income Tax
http://www.irs.gov/pub/irs-pdf/f990.pdf
Form 990-EZ, Short Form Return of Organization Exempt From Income Tax
http://www.irs.gov/pub/irs-pdf/f990ez.pdf
Form 990-PF, Return of Private Foundation
http://www.irs.gov/pub/irs-pdf/f990pf.pdf
Additional Links:
Tax Information for Charitable Organizations:
http://www.irs.gov/charities/charitable/
I hope this helps. If you have any questions, please post a
clarification request *before* closing/rating my answer and I'll be
happy to reply.
Thank you,
hummer
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