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: March 14, 2024
19 Reviews (96 ratings)

Reviews

5
Anonymous Author
Really appreciated the presenter. Had a good sense of humor, but still very professional and knowledgeable in sharing the course information. I don’t usually like video CPEs, but enjoyed this one and feel like I came away with a good refresher and learned some things as well.

5
Anonymous Author
Great explanation of every part of the 990, variations of the 990, and perspective on why the IRS requires a lot of this information.

5
Member's Profile
Course is both entertaining and informative. Sanders' example organization for his sample 990 is humorous and enjoyable.

5
Anonymous Author
The presenter is engaging and thorough. The case study was an effective and entertaining review of the subject.

4
Member's Profile
The case study is good - but it would be nice to have more of the schedules in the study.

5
Anonymous Author
Lots of useful information on individual schedules. The speaker was easy to listen to.

4
Member's Profile
really nice overview of the 990 getting into the details of a lot of important issues

3
Anonymous Author
This course provides a basic overview of Form 990 primary and supporting schedules.

5
Anonymous Author
I found this to be an extremely informative course and highly recommended.

4
Member's Profile
An informative look at the various components of 990 preparation. Nicely done

5
Anonymous Author
Excellent presentation! Highly recommended to anyone preparing Form 990s.

4
Anonymous Author
instructor provided a good overview and refresher on completing the 990

5
Member's Profile
Great discussion for Form 990. Would love to share with my team mates,

5
Anonymous Author
Excellent course. Good information. Keep the good work. THank you !!!

5
Member's Profile
Adam' course on IRS Form 990 was well prepared and presented.

4
Anonymous Author
Nice course. This is a nice beginning look at IRS Form 990.

5
Anonymous Author
Thanks for making this enjoyable. I appreciated this course

4
Anonymous Author
It's a good introduction. Very quick overview. Thank you.

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 Questions and Answers(2 Questions)
User picture

Can you explain the difference between fundraising income reported on Part VIII, line 1c and fundraising income reported on line 8a of Form 990?

User picture

In you hamster case example, the spreadsheet shows zero fundraising expenses per F/S, but $2000 in fundraising expenses to be reported on Schedule D. Then on the 990 there is zero direct fundraising expense on Part V111, line 8b and Part IX Statement of Functional Expenses on the 990 shows $3650 Fundraising expenses. Can you provide more information on how to report fundraising expenses for the different parts of the return?

Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to NFP Tax Considerations: Fundamentals of the IRS Form 9908:58
  Different 990s and the Core Form9:59
  Core Form Sections: Part l-Xlll12:48
  The 990 Supporting Schedules14:11
  Preparing The Form 9909:05
  CASE Example21:54
  Summary00:51
CONTINUOUS PLAY
  NFP Tax Considerations: Fundamentals of the IRS Form 9901:17:47
SUPPORTING MATERIALS
  Slides: Fundamentals of the IRS Form 990PDF
  Fundamentals of the IRS Form 990 Glossary/IndexPDF
  Example Form 990PDF
  BHAF Case StudyXLSX
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam