Last updated 2026-07-24
TL;DR
Form 990-EZ is the IRS's mid-size annual return for tax-exempt organizations with gross receipts under $200,000 and total assets under $500,000. Below those thresholds most small groups can file the simpler 990-N instead. Above them, you need the full Form 990. It's due the 15th day of the 5th month after your fiscal year ends.
what is form 990-ez?
Form 990-EZ is the IRS's short version of the annual information return that most tax-exempt organizations have to file. It's a middle tier: not as simple as the postcard-style 990-N, but not as long as the full Form 990. The IRS describes it as the "Short Form Return of Organization Exempt from Income Tax" [1]. You generally use it if your organization's gross receipts are under $200,000 and its total assets are under $500,000 at the end of the year [2]. Both conditions have to be true. If either one is over the line, you're bumped up to the full 990. The form itself runs about four pages plus schedules, asking for revenue and expense detail, a balance sheet, program service descriptions, and information on officers and directors. It's a real financial disclosure, not a checkbox. A booster club treasurer who's used to writing checks out of a shoebox ledger will find the jump from 990-N to 990-EZ noticeably heavier.
what is the 990? (the basics before you pick a version)
| 990-N (e-postcard) | Smallest orgs | Gross receipts normally ≤ $50,000 [3] | |
|---|---|---|---|
| 990-EZ | Small/mid orgs | Gross receipts < $200,000 and total assets < $500,000 [2] | |
| 990 (full) | Larger orgs | Gross receipts ≥ $200,000 or total assets ≥ $500,000 [2] | |
| 990-PF | Private foundations | Any size, different rules entirely [4] | Even if your booster club or PTO is tiny and doesn't owe a dime in tax, the 990 in some form is almost always required if you hold 501(c)(3) or another 501(c) exemption. Filing nothing is the mistake that leads to auto-revocation, covered below. |
The 990 is the family name for the IRS's annual reporting requirement for tax-exempt organizations. There isn't one "990 tax form," there are several versions sized to the organization, and which one you file depends on money in and money held, not on how important your group feels. The versions, roughly smallest to largest: | Form | Who files it | Rough threshold |
who has to file form 990-ez? (the exact thresholds)
You can file Form 990-EZ instead of the full 990 if, for the tax year, gross receipts were less than $200,000 AND total assets at year-end were less than $500,000 [2]. The IRS's own instructions put it plainly: organizations meeting both tests "may file Form 990-EZ, instead of Form 990" [2]. A few wrinkles matter for booster clubs and PTOs specifically: Gross receipts means total money that came in before subtracting costs, not net profit. A concession stand that sold $180,000 worth of snacks with $150,000 in cost of goods still counts $180,000 as gross receipts, not $30,000. Asset totals include cash, investments, and equipment your group owns, valued at year end. A booster club sitting on $520,000 in a reserve fund for uniforms and equipment has to file the full 990 even if annual receipts are modest. Groups below $50,000 in gross receipts usually qualify for the simpler 990-N instead and don't need the EZ at all, though they can choose to file 990-EZ or the full 990 voluntarily [3]. Some states also require a copy of whatever 990 you file as part of charity registration, so check with your state's charity office too.
what does a treasurer do? (the general job, before you get to taxes)
A treasurer is the person responsible for an organization's money: tracking it, reporting on it, and keeping the group's spending inside its budget and its bylaws. In a booster club, PTO, or youth sports league, that usually means one volunteer wearing a job that in a real company would be split among three people (bookkeeper, controller, and finance committee chair). Day to day, what does a treasurer do? Reconciles the bank account monthly. Tracks income from fundraisers, concession sales, and dues. Pays approved bills and reimburses volunteers. Reports a budget-to-actual summary at board meetings. Keeps receipts and records organized enough that next year's treasurer (or an auditor) can follow the money without a translator. At tax time, the treasurer usually owns the 990 filing, whichever version applies. That's the part most new volunteers dread, mostly because nobody trained them on it. The IRS's Exempt Organizations pages [1] and your state's nonprofit or charity office are the two places to start when you're not sure which form applies.
what is a treasurer? (role, authority, and limits)
A treasurer is an elected or appointed officer, defined by the organization's bylaws, who has custody of and accounting responsibility for its funds. It's a fiduciary role: the treasurer is legally and ethically obligated to handle the money for the organization's benefit, not personal convenience. What a treasurer is not: a sole decision-maker who can spend without approval, a tax preparer by training, or someone who personally owes back taxes if the group misses a filing deadline (though a lapsed exemption is a real headache the treasurer usually gets stuck cleaning up). Most bylaws give the treasurer signing authority up to some dollar limit, require two signatures above that, and mandate a report at every board meeting. If your bylaws are silent on any of this, that's a fixable gap, and a good time to fix it is right when a new treasurer takes over, not mid-crisis.
what does a club treasurer do differently from a corporate one?
A club treasurer, whether for a booster club, PTO, or league, does the same core job as any treasurer but almost always as an unpaid volunteer with no accounting background, working with cash-heavy fundraising (concessions, raffles, car washes) instead of predictable revenue. What does a treasurer do in a club, specifically, that's different from a business bookkeeper? A few things: Handles cash directly, often at events, which means building (or inheriting) a cash-counting and deposit procedure rather than just reconciling bank feeds. Manages restricted funds. Parents who donate "for the softball team's new uniforms" expect that money spent on softball uniforms, not general operating costs, and the treasurer has to track that distinction even though QuickBooks doesn't do it automatically for a $40-a-year Zoom login group. Hands off the books yearly, or every couple of years, as officer terms turn over. That handoff is where most booster clubs lose their financial history, and it's a big reason IRS exemptions lapse: nobody realized the group had to file anything, because the treasurer who knew that moved away three years ago.
what does a treasurer of a club do about the 990 specifically?
The treasurer typically identifies which 990 version applies, gathers the numbers, and either files it directly (990-N takes about 10 minutes online) or hands organized figures to a volunteer CPA or paid preparer for the 990-EZ or full 990. For the 990-EZ, that means pulling together: total revenue by source (dues, fundraising, contributions), total expenses by category, a snapshot balance sheet (cash, other assets, liabilities), and basic information on officers, directors, and any related-party transactions. If your group has never had a proper chart of accounts, this is the moment you'll wish you did. The practical answer to what does a treasurer of a club do at filing time: they're the one who has to say, with confidence, "here's what we took in, here's what we spent, and here's what we're holding," backed by bank statements and a ledger, not memory.
when is form 990-ez due?
Form 990-EZ is due the 15th day of the 5th month after the organization's accounting period ends [1]. For a calendar-year filer (year ends December 31), that's May 15 of the following year. A single automatic 6-month extension is available using Form 8868, pushing a May 15 deadline to November 15 [5]. Extensions must be filed by the original due date, not after. Missing the deadline doesn't trigger an immediate penalty notice for a first slip, but persistent failure has a specific, harsh consequence covered next.
what happens if you don't file the 990-ez (or any 990)?
Miss three consecutive years of required 990 filings (990-N, 990-EZ, or full 990) and the IRS automatically revokes your tax-exempt status. This is written into the tax code: under Internal Revenue Code section 6033(j), failure to file for three consecutive years results in automatic revocation, effective as of the filing due date of the third year [6]. This isn't rare. The IRS has published lists of hundreds of thousands of organizations, largely small ones, that lost exemption this way since the rule took effect for tax years beginning in 2007 [6]. Booster clubs and PTOs are overrepresented on those lists because they're volunteer-run and prone to losing institutional memory during officer turnover. Revocation means donations are no longer tax-deductible to donors, and your group may owe corporate income tax on revenue going forward until reinstated. Reinstatement requires filing Form 1023 (or 1023-EZ if eligible) again and, depending on timing, back-filing missed returns [7]. It's a real cost in time and sometimes a filing fee, and it's entirely avoidable with one calendar reminder a year.
990-ez vs 990-n vs full 990: which one do you actually file?
| Gross receipts | Normally ≤ $50,000 [3] | < $200,000 [2] | ≥ $200,000 [2] | |
|---|---|---|---|---|
| Total assets | No limit specified | < $500,000 [2] | ≥ $500,000 [2] | |
| Length | 8 online fields | ~4 pages + schedules | Often 12+ pages + schedules | |
| Typical preparer | Treasurer, self-filed | Treasurer or volunteer CPA | Usually a paid preparer | |
| Filing method | Online only, via IRS.gov [3] | Paper or e-file | E-file required for most orgs [1] | One more wrinkle: even a group eligible for the 990-N can choose to file the 990-EZ or full 990 instead. Some do it because a bank or grantor wants to see a fuller financial picture. There's no rule against filing "up." You just can't file "down" if you're over the threshold. |
The honest answer: it depends on last year's numbers, not on how big your group feels or how much work it does. Here's the comparison in one place. | Factor | 990-N | 990-EZ | Full 990 |
what goes on form 990-ez that doesn't go on the 990-n?
The 990-N asks for eight basic data points: EIN, tax year, legal name, mailing address, website if any, confirmation gross receipts are normally $50,000 or less, and confirmation the org hasn't terminated [3]. The 990-EZ asks for a full financial statement. Specifically, the 990-EZ requires: a statement of revenue by category (contributions, program service revenue, investment income, fundraising event gross income and expenses), a statement of expenses by category, a balance sheet showing assets, liabilities, and net assets at the start and end of year, program service accomplishments in narrative form, and information on officers, directors, trustees, and key employees, including compensation if any [2]. Depending on your group's activities, you may also need supporting schedules: Schedule A (public charity status), Schedule B (contributor list, though many small groups qualify for reduced disclosure), Schedule G (fundraising and gaming, relevant if you run raffles or bingo), and others. This is the point where a lot of volunteer treasurers decide it's worth paying a preparer, and that's a reasonable call once your group is grossing six figures.
how a treasurer keeps the books ready for 990-ez filing year-round
The single biggest time-saver for 990-EZ prep is having clean, categorized books all year, not scrambling every spring. A few habits make the difference. Reconcile the bank account monthly, not annually. Twelve small reconciliations catch errors while you can still remember what a mystery charge was. One annual reconciliation means guessing. Categorize income and expenses consistently with how the 990-EZ groups them: contributions separate from program revenue, fundraising event costs separate from general operating expenses. Match your chart of accounts to the form's line items and prep day gets much shorter. Track restricted donations separately, even in a simple spreadsheet tab, since the 990-EZ's balance sheet and net asset sections expect you to know what's unrestricted versus designated for a specific purpose. Keep a running list of officers, directors, and any paid staff or contractors, since Part IV of the 990-EZ asks for this every year and it's easy to forget who technically still holds a title. A state-specific reference built for exactly this handoff and filing routine is the $99 State-Personalized Treasurer Kit, which walks new booster and PTO treasurers through the recordkeeping habits that make 990-EZ season a non-event instead of a fire drill.
does a small booster club or pto really need to worry about this?
Yes, if it has 501(c)(3) or another tax-exempt status, because the filing requirement isn't optional and isn't based on how small or informal the group feels. Even a booster club with $8,000 a year in bake sale money has to file something (usually the 990-N) or risk auto-revocation after three missed years [6]. The good news: for most small booster clubs and PTOs under $200,000 in gross receipts and $500,000 in assets, the paperwork stays manageable, either the 10-minute 990-N or the several-hours 990-EZ. It's the groups that ignore it entirely, often because leadership changed and nobody knew filing was required, that end up with a revoked exemption, a scramble to re-apply, and sometimes a chunk of unexpected corporate tax liability in the meantime. Confirm your specific filing obligation with the IRS and, for any state registration or charitable solicitation requirements layered on top, with your state's charity office or attorney general. This article explains the federal framework; it isn't tax or legal advice, and BoosterLedger isn't an accounting or law firm.
Frequently asked questions
what is form 990-ez used for?
Form 990-EZ is the IRS's short-form annual information return for tax-exempt organizations with gross receipts under $200,000 and total assets under $500,000. It reports revenue, expenses, a balance sheet, and officer information to the IRS and, in many states, doubles as part of state charity registration. It replaces the need to file the longer full Form 990 [2].
what is form 990?
Form 990 is the IRS's general name for the annual information return tax-exempt organizations file. It comes in several versions (990-N, 990-EZ, full 990, 990-PF) sized to the organization's gross receipts and assets. Filing some version is required to keep tax-exempt status active; three consecutive missed years triggers automatic revocation under IRC 6033(j) [6].
what does a treasurer do?
A treasurer tracks an organization's money: reconciling bank accounts, recording income and expenses, paying approved bills, reporting budget-to-actual figures to the board, and usually handling annual IRS filings like the 990-N or 990-EZ. In volunteer groups like booster clubs and PTOs, one person typically does the work a company would split across a bookkeeper and controller.
what is a treasurer?
A treasurer is an elected or appointed officer, defined by an organization's bylaws, responsible for custody of and accounting for its funds. It's a fiduciary role with legal responsibility, more than a title. Bylaws typically set the treasurer's spending authority, reporting requirements, and any dollar limits that require a second signature.
what do treasurers do at tax time?
At tax time, a treasurer determines which version of the 990 the organization must file based on last year's gross receipts and total assets, gathers financial records, and either files directly (990-N) or prepares figures for a preparer to complete the 990-EZ or full 990 by the deadline, the 15th day of the 5th month after year-end [1].
what does a treasurer do in a club specifically?
A club treasurer for a booster club, PTO, or league handles the same core duties as any treasurer, plus cash-heavy tasks unique to volunteer fundraising: counting and depositing event cash, tracking restricted donations for specific teams or purposes, and preparing a clean handoff of records when officer terms turn over each year or two.
what does a club treasurer do differently from a business bookkeeper?
A club treasurer usually has no accounting training, works with unpredictable cash-based fundraising instead of steady revenue, and often serves only one or two years before handing the role off. Business bookkeepers are typically paid, trained, and permanent, while club treasurers rebuild institutional knowledge from scratch with every officer turnover.
who has to file the 990-ez instead of the full 990?
Organizations with gross receipts under $200,000 and total assets under $500,000 at year-end may file Form 990-EZ instead of the full Form 990 [2]. Both conditions must be true. Organizations below $50,000 in gross receipts can typically file the simpler 990-N instead, though filing the 990-EZ voluntarily is also allowed [3].
when is the 990-ez due?
Form 990-EZ is due the 15th day of the 5th month after the organization's fiscal year ends, which is May 15 for calendar-year filers [1]. A single automatic 6-month extension is available by filing Form 8868 before the original due date, pushing the deadline to November 15 [5].
what happens if a booster club never files a 990?
Failing to file any required version of the 990 for three consecutive years triggers automatic revocation of tax-exempt status under Internal Revenue Code section 6033(j) [6]. Reinstatement requires reapplying for exemption, often with Form 1023 or 1023-EZ, and possibly back-filing missed returns. Confirm current reinstatement procedures with the IRS.
can a booster club file the 990-n even if it's eligible for the 990-ez?
No. Eligibility runs one direction: organizations under the 990-N gross receipts threshold (normally $50,000 or less) can choose to file 990-N, 990-EZ, or the full 990. But an organization over $200,000 in gross receipts or $500,000 in assets cannot file the 990-EZ or 990-N; it must file the full Form 990 [2][3].
does form 990-ez replace state charity registration?
No. Form 990-EZ is a federal IRS filing. Many states separately require charitable organizations to register and file annual reports with a state charity office or attorney general, sometimes attaching a copy of the 990-EZ as part of that filing. Confirm requirements directly with your state's charity registration office.
who actually prepares the 990-ez for a small nonprofit?
It varies. Many booster club and PTO treasurers prepare the 990-EZ themselves using organized bank records and the IRS instructions, especially in simpler years. Groups with more complex finances, paid staff, or fundraising events with gaming (raffles, bingo) often hire a CPA familiar with nonprofit filings, particularly for schedules like Schedule G.
Sources
- IRS, About Form 990-EZ: 990-EZ is the Short Form Return of Organization Exempt from Income Tax and its general due date
- IRS, Instructions for Form 990-EZ: gross receipts under $200,000 and total assets under $500,000 threshold for filing 990-EZ instead of full 990, and 990-EZ content requirements
- IRS, e-Postcard (Form 990-N): 990-N eligibility for organizations with gross receipts normally $50,000 or less and the eight required data fields
- IRS, About Form 990-PF: 990-PF is the required return for private foundations regardless of size
- IRS, About Form 8868: automatic 6-month extension available for exempt organization returns if filed by the original due date
- IRS, Automatic Revocation of Exemption: three consecutive years of unfiled required returns triggers automatic revocation under IRC 6033(j)
- IRS, Applying for Tax-Exempt Status: reinstatement after automatic revocation requires reapplying for exemption, often via Form 1023 or 1023-EZ