This document provides an overview of Form 990, the tax form required to be filed by most non-profit organizations with the IRS. It details what information Form 990 collects, such as salaries of top executives, expenses, assets, and mission statements. It explains that Form 990 is available on the IRS website and is due 1.5 months after the organization's fiscal year ends. The document recommends journalists use Form 990 to investigate non-profits by analyzing expenses, revenue, assets, and comparing figures over time or between similar organizations to ensure non-profits' missions align with their finances and activities. Form 990 is described as an invaluable tool for journalists covering non-profits.

1. UNDERSTANDING
The Form
990
Adapted from Poynter University’s “Reporting on Nonprofits”

2. This Presentation:
Gives an overview
of Form 990
3
2
1
Can be used to
brainstorm stories about
nonprofit organizations
Gives journalists tips
for using Form 990 to
cover nonprofits

3. WHO
WHERE WHAT
WHEN
WHYHOW
An Introduction
Tax exempt nonprofits,
including charities and
private foundations but
excluding religious
institutions, are required to
fill out Form 990
The form is
available to
complete and
access at the
IRS website
An IRS tax form
that collects
information about
nonprofits’ income
and expenses
Specifically, Form 990
Collects:
- salaries of top 5
executives
- Expenses to top 5
consultants/vendors/etc.
- Assets
- Mission Statement &
Programs
This is an invaluable tool
for journalists covering
nonprofits. It is a complete
roadmap to the
organization being
covered, and has powerful
compare/contrast
capabilities when paired
with other 990s.
The deadline to file is a
month and a half after
the end of the
organization’s fiscal
year (ex: if the
organization’s fiscal
year ends on 31
August, the deadline to
file is 15 January of the
following year

4. Form 990 is the starting point for
journalistic investigations of
nonprofits

5. Expenses
Revenue
Assets
- How much money did the organization make last year?
- Where did it come from?
- What percentage of the revenue was spent on the organizations
programs?
- How much did the programs cost?
- What does the organization say it will accomplish?
- What percentage of revenue goes to its top executives?
Consultation expenses? Fundraising efforts?
- What is the organization’s largest asset?
- Does it have any liabilities?
- What does it pay for rent/mortgage? Does it own the building?
- Does it invest in stock?
Ask The Right Questions

6. Find The Story
Find the
percentage
of total funds
that go to
1. Administration
2. Fund raising
3. Programs
Find out
where most of
the money is
going and why
Find the
purpose
Does the
organization’s
income and
expenses align
with its mission
statement?
Find the
comparison
Track the
organization’s
progress over time
with 990s from past
years, or compare it
to other non- and
for- profits of similar
size, age, mission,
product, etc.
Find the
ethics
Are the
organization’s
fundraising habits
in the
community’s best
interest? Does it
use the funds
responsibly?
Remember: A reputable nonprofit is typically transparent with its mission,
projects and goals. Those that won’t discuss this information as pertaining
to finances, or pressures others for donations or doesn’t have print
information or a website may not be entirely truthful or ethical

7. Other Sources of Information
Form 1023
Annual reports
read about the
organization’s history to
gain an overview of how
it has (or hasn’t matured
in handling money and
managing projects
This is the application for
501(c)(3) nonprofit
status. Use it to match
current operations with
its original intentions
Letter of
Determination
official approval of 501(c)
(3) status from the IRS