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This course walks through the steps necessary to fill out and file the Internal Revenue Service (IRS) Form 990, Return of Organization Exempt from Income Tax. This is one of the most important documents a Not-for-Profit (NFP) organization is required to send to the IRS because it helps it maintain its tax exempt status with respect to contributions it receives.

Most organizations are required to file an informational return and make it available for public inspection.  The Form 990 contains sections that explain how well the organization is utilizing its resources for its mission which allows the public and watchdog groups to scrutinize the entity’s activities.

This course goes over the basic steps an accountant who is completing the Form 990 informational forms must perform in order to do so accurately and completely.  There is also be a discussion regarding how to avoid common mistakes when filling out the form 990.

Learning Objectives

  • Recognize the purpose and objective of Internal Revenue Service (IRS) Form 990, Return of Organization Exempt from Income Tax
  • Identify the different types of 990 Forms available for Not for Profit (NFP) organizations to submit
  • Identify the core components of the Form 990 as well as the schedules that may be attached to an informational return
Last updated/reviewed: November 27, 2019

2 Reviews (6 ratings)Reviews

5
Anonymous Author
I found this to be an extremely informative course and highly recommended.
5
Anonymous Author
good guide to schedules and info on each part of 990

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course, but completion of the other courses in this series may be helpful.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  8:58Introduction to NFP Tax Considerations: Fundamentals of the IRS Form 990
  9:59Different 990s and the Core Form
  12:48Core Form Sections: Part l-Xlll
  14:11The 990 Supporting Schedules
  9:05Preparing The Form 990
  21:54CASE Example
  00:51Summary
CONTINUOUS PLAY
  1:17:47NFP Tax Considerations: Fundamentals of the IRS Form 990
SUPPORTING MATERIALS
  PDFSlides: Fundamentals of the IRS Form 990
  PDFFundamentals of the IRS Form 990 Glossary/Index
  PDFExample Form 990
  XLSXBHAF Case Study
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM