Last updated 2026-07-24
TL;DR
Form 990 is the annual information return most tax-exempt nonprofits file with the IRS. Which version you file (990-N, 990-EZ, 990, or 990-PF) depends on gross receipts and assets. Miss it three years running and the IRS automatically revokes your exempt status. The treasurer's job is to track money all year so the return is just a summary, not a scramble.
What is Form 990?
Form 990 is the information return the IRS requires most tax-exempt organizations to file every year. It's not the same as a business tax return that calculates income tax owed. Nonprofits generally don't owe income tax on money raised for their exempt purpose, but the IRS still wants an annual accounting of revenue, expenses, assets, and governance. The agency calls it exactly that: an "annual information return" [1]. Think of it as the price of staying tax-exempt. You got the benefit (donations are tax-deductible for donors, you don't pay federal income tax on program revenue), so the IRS wants transparency in return. Most of a 990 is public record too. Anyone can look up your booster club's or PTO's 990 on the IRS's own Tax Exempt Organization Search tool or on GuideStar/Candid. There isn't one single "990 form." There's a family of them, and which one your group files depends almost entirely on how much money moved through your accounts that year. Get the wrong one and the IRS treats it as not filed at all, which matters a lot given the three-year revocation rule covered below.
What is the 990 tax form, exactly, and which version do I file?
| Normally ≤ $50,000 | any | 990-N (e-Postcard) | |
|---|---|---|---|
| < $200,000 | < $500,000 | 990-EZ (or full 990) | |
| ≥ $200,000 OR | ≥ $500,000 | Full Form 990 | |
| Private foundations | any | 990-PF | The IRS states the 990-N threshold plainly: organizations "whose annual gross receipts are normally $50,000 or less" may file the e-Postcard instead of a full return [2]. "Normally" is a defined term, not a casual word. It's based on a 3-year average, so a single unusually big fundraiser or a one-time grant doesn't automatically bump you into a bigger form. The IRS's own instructions spell out the averaging method for organizations in their first, second, or third-plus year [2]. Most small booster clubs and PTOs with a car wash, a few bake sales, and modest membership dues fall under $50,000 and qualify for the 990-N. If your group runs a big raffle, gets a large grant, or sells a lot of concessions and merchandise, check your actual gross receipts before assuming you're still in e-Postcard territory. For more on the smallest version of this form, see 990-N and Form 990-N. |
The version you file depends on your organization's gross receipts and total assets for the tax year. Here's the breakdown the IRS publishes: | Gross receipts | Total assets | Form required |
What does Form 990-N actually require?
Form 990-N, officially the e-Postcard, is the bare-minimum version, and it's genuinely quick. The IRS lists exactly eight pieces of information required: legal name, any other names used, mailing address, website (if you have one), Employer Identification Number (EIN), the name and address of a principal officer, tax year, confirmation that gross receipts are normally $50,000 or less, and, if applicable, a statement that the organization has terminated [3]. There's no financial detail to report on the 990-N itself, no balance sheet, no expense breakdown. You file it electronically through the IRS's own system. It genuinely takes most treasurers under 15 minutes once they have the EIN and officer info in hand. The catch: because it's so easy, it's also easy to forget entirely, and forgetting is exactly what triggers automatic revocation.
What happens if you miss the Form 990 deadline or skip filing for three years?
This is the part that catches new treasurers off guard, and it's genuinely serious. Under Internal Revenue Code section 6033(j), any tax-exempt organization required to file an annual return or notice (990, 990-EZ, or 990-N) that fails to do so for three consecutive years automatically loses its tax-exempt status, by operation of law, with no separate IRS notice required to trigger it [4]. The IRS publishes a running Auto-Revocation List of organizations this has happened to, and it's a long list, full of small local groups exactly like booster clubs and PTOs [5]. Once revoked, the organization becomes taxable and donations are no longer automatically tax-deductible to donors, starting from the revocation date. The fix isn't hopeless, but it takes real paperwork. Reinstatement generally means refiling Form 1023 or 1023-EZ (the exemption application) and paying the associated user fee again, plus filing any past-due returns. The IRS's Revenue Procedure on reinstatement (currently Rev. Proc. 2014-11, still the controlling guidance referenced on irs.gov) lays out streamlined options for small organizations that request reinstatement within 15 months of revocation, versus a more involved retroactive reinstatement process after that window [6]. If your group's status shows revoked, confirm your specific reinstatement path and current user fee with the IRS before assuming which streamlined option applies; fees and forms get updated periodically. The practical lesson: a missed 990-N three years running is an entirely avoidable disaster. Calendar it. Set two reminders. This is cheap insurance against a very expensive mistake.
When is Form 990 due?
Form 990 (in any version) is due by the 15th day of the 5th month after your organization's accounting period ends [7]. For a nonprofit on a calendar fiscal year (ending December 31), that puts the deadline at May 15 of the following year. Booster clubs and school-affiliated PTOs sometimes run on a school-year fiscal calendar (July 1 to June 30), in which case the return is due November 15. Extensions exist. Organizations can file Form 8868 to get an automatic 6-month extension on the 990, 990-EZ, or 990-PF [8]. Note that Form 990-N does not have an extension option since there's no penalty for late filing of the e-Postcard itself, but a late or missed 990-N still counts toward the three-year revocation clock, so "there's no penalty" is not the same as "it doesn't matter." Confirm your organization's actual fiscal year end with your bylaws or founding documents before you set a filing date; treasurers sometimes inherit conflicting records from a prior officer and file on the wrong cycle for years without anyone noticing.
What is a treasurer, and what does a treasurer do?
A treasurer is the officer responsible for an organization's money: tracking it, reporting it, and keeping the group's financial house in order enough that outsiders (the IRS, your state charity office, your own members) can trust the numbers. In a booster club or PTO, the treasurer usually isn't a trained accountant. It's a volunteer, often a parent, handling this alongside a full-time job. What does a treasurer do in a club, day to day? Realistically: deposit and record income (dues, concession sales, fundraiser proceeds), track expenses against a budget, reconcile the bank statement every month, keep receipts organized, prepare a financial report for board meetings, and make sure the group's tax filings (the 990 family, and any state charitable registration renewal) happen on schedule. What does a treasurer of a club do that a bookkeeper wouldn't? Judgment calls. A bookkeeper records transactions. A treasurer also flags when spending is off-budget, asks the board before writing a big check, and is the person who notices if cash collected at a car wash doesn't match what got deposited. That oversight role is where cash-handling controls matter most; see our guide on financial controls if your group doesn't have a two-person counting rule yet. What a treasurer does not do, in most small nonprofits: they're rarely a licensed accountant, and they're not personally liable for the group's tax-exempt status in a way that follows them home, as long as they're acting in good faith and not embezzling. But sloppy recordkeeping under a treasurer's watch is exactly what causes auto-revocation and messy handoffs later.
What information does Form 990 (the full version) ask for that 990-N doesn't?
Once your gross receipts push you past the 990-N threshold, the filing gets substantially more involved. The full Form 990 asks for a statement of revenue and expenses broken into categories, a balance sheet, a list of officers and directors with compensation (if any), a description of program service accomplishments, and governance questions (does the board review the 990 before filing, does the organization have a conflict-of-interest policy, and so on) [9]. The 990-EZ, the middle-tier version for organizations under the $200,000/$500,000 thresholds, asks for a shorter version of the same categories: a condensed statement of revenue and expenses, and a balance sheet, still self-prepared but with fewer schedules attached [5]. For most booster clubs and PTOs, staying under $50,000 in gross receipts (and thus in 990-N territory) genuinely simplifies life. That's not a reason to avoid growing your fundraising, but it is a reason to know your number and plan your filing accordingly if you cross it. Some groups deliberately track gross receipts monthly specifically so they know which form is coming at year end. See 990 tax form and IRS Form 990 for more on the mid-size and full versions.
Do state fundraising or charity registration rules apply on top of the federal 990?
Yes, in many states, and this is a separate requirement from the IRS filing entirely. Most states require nonprofits that solicit donations from the public to register with a state charity regulator, often the attorney general's office or secretary of state, and many require an annual renewal alongside (or referencing) the federal 990. Requirements vary hugely by state: some exempt small organizations below a certain revenue threshold, some require a copy of the 990 attached to a state form, some have their own separate financial reporting form. There is no single national rule here. Confirm your specific state's charity registration and renewal requirements directly with your state charity office or attorney general's office; don't assume a rule you read about one state applies to yours.
How do I know if my organization is even tax-exempt in the first place?
Check the IRS's Tax Exempt Organization Search tool directly; it lets you look up an organization by name or EIN and see its exempt status, filing history, and whether it appears on the auto-revocation list . This is the single fastest way for a new treasurer to confirm reality versus what a predecessor told you. If your group has never applied for exemption and is just "the booster club" operating under a bank account and nothing else, you don't automatically have 501(c)(3) or any other exempt status. Being a nonprofit in the sense of "not making profit for owners" is different from being IRS tax-exempt, which requires an actual application (Form 1023, 1023-EZ, or 1024 depending on the category) and IRS approval. Many small booster clubs operate for years assuming exemption they never actually secured; a lookup takes five minutes and either confirms your status or tells you there's a bigger conversation to have with your board.
What records does a treasurer need to keep to make the 990 easy?
The single biggest thing that separates a smooth 990 season from a miserable one is whether the treasurer kept clean books all year, not whether they're good at taxes in April (or May, in this case). At minimum: a running ledger of income and expenses by category, bank statements reconciled monthly, receipts or invoices for anything over a small threshold your board sets (many groups use $25 or $50), a copy of the prior year's 990 filing, your EIN confirmation letter, and minutes from board meetings where major financial decisions got approved. A $99 one-time Treasurer Kit, built for your specific state, gives new treasurers a starting template for this recordkeeping plus the filing calendar and handoff checklist, so you're not building the tracking system from scratch mid-year. It's not a substitute for actually doing the bookkeeping, but it removes the "where do I even start" problem that eats the first two months of a new treasurer's term. When you hand the role off to the next volunteer, that same clean file is what makes the transition survivable. See our handoff and audits guidance for what a good handoff packet includes.
Frequently asked questions
What is Form 990?
Form 990 is the annual information return the IRS requires most tax-exempt organizations to file, reporting revenue, expenses, assets, and governance details. It's not an income tax return; nonprofits generally don't owe federal income tax on exempt-purpose revenue. Which version (990-N, 990-EZ, full 990, or 990-PF) you file depends on gross receipts and total assets, per IRS instructions [1][2].
What is a 990 tax form used for?
It's used by the IRS to track a tax-exempt organization's finances and governance year over year, and it's largely public record, so donors and watchdog sites can review it too. Most of a 990 is available through the IRS's Tax Exempt Organization Search tool or sites like Candid/GuideStar [11].
What is the 990-N and who has to file it?
Form 990-N, the e-Postcard, is for tax-exempt organizations whose gross receipts are normally $50,000 or less. It requires only basic identifying information (EIN, address, principal officer, confirmation of the receipts threshold), no financial statements, and is filed electronically [2][3].
What happens if a booster club or PTO doesn't file a 990 for three years?
Automatic revocation of tax-exempt status, by law, under Internal Revenue Code section 6033(j), with no separate IRS notice required to trigger it. The organization then appears on the IRS's public Auto-Revocation List and must reapply for exemption to get status back [4][5].
What does a treasurer do in a club or booster organization?
A treasurer tracks incoming and outgoing money, reconciles bank statements, prepares financial reports for the board, keeps receipts and records organized, and makes sure required filings (the 990 family and any state charity registration) happen on time. It's an oversight and recordkeeping role, more than data entry.
What is a treasurer, in plain terms?
A treasurer is the officer in charge of an organization's money: recording it accurately, reporting on it to the board and members, and being the person who notices when something doesn't add up. In small nonprofits it's almost always a volunteer, not a paid accountant.
What does a club treasurer do differently from a regular bookkeeper?
A club treasurer makes judgment calls a bookkeeper typically doesn't: flagging off-budget spending, requiring board approval on large purchases, and catching discrepancies between cash collected and cash deposited. Bookkeeping is data entry; treasury is oversight plus reporting.
When is Form 990 due each year?
By the 15th day of the 5th month after the organization's accounting period ends. A calendar-year nonprofit files by May 15; a school-year nonprofit (July to June) files by November 15. A 6-month extension is available via Form 8868 for the 990, 990-EZ, and 990-PF [7][8].
Can a nonprofit get an extension on its Form 990 deadline?
Yes, for the 990, 990-EZ, and 990-PF, by filing Form 8868, which grants an automatic 6-month extension. Form 990-N (the e-Postcard) has no extension option, but there's also no late-filing penalty for it directly; missed 990-N filings still count toward the three-year auto-revocation clock [8].
How do I check if my nonprofit's tax-exempt status was already revoked?
Use the IRS's Tax Exempt Organization Search tool, which lists current exempt status, filing history, and whether an organization appears on the Auto-Revocation List. It's free and takes a couple of minutes with the organization's name or EIN [11][5].
Does a small booster club need to register with the state in addition to filing the IRS 990?
Often yes. Many states require organizations soliciting public donations to register with a charity regulator (frequently the attorney general's office), sometimes with an annual renewal referencing the federal 990. Requirements and thresholds vary by state, so confirm directly with your state charity office.
What's the difference between Form 990-EZ and the full Form 990?
990-EZ is a shorter return for organizations with gross receipts under $200,000 and total assets under $500,000; it has a condensed revenue/expense statement and balance sheet. The full Form 990 is required above those thresholds and includes more detailed schedules on governance, compensation, and program activities [9][10].
Is Form 990 the same as a tax return that calculates taxes owed?
No. It's an information return, not a tax computation form. Most tax-exempt organizations owe no federal income tax on money raised for their exempt purpose; the 990 reports financial activity and governance so the IRS and the public can see how the organization operates.
Sources
- IRS, "Annual Exempt Organization Return: Who Must File": Form 990 is described as an annual information return most tax-exempt organizations must file
- IRS, "Annual Electronic Filing Requirement for Small Exempt Organizations - Form 990-N (e-Postcard)": 990-N is for organizations whose gross receipts are normally $50,000 or less, based on averaging rules
- IRS, "Annual Electronic Notice (Form 990-N) for Small Organizations FAQs: How to File": Eight required data fields for the 990-N e-Postcard filing
- 26 U.S.C. § 6033(j), via IRS "Automatic Revocation of Exemption": Three consecutive years of not filing required annual returns triggers automatic revocation of tax-exempt status
- IRS, "Tax Exempt Organization Search - Automatic Revocation of Exemption List": IRS maintains a public, searchable list of organizations that lost exempt status via automatic revocation
- IRS, Form 990 Instructions, "When to File": Form 990 is due by the 15th day of the 5th month after the organization's accounting period ends
- IRS, "About Form 8868, Application for Automatic Extension of Time To File an Exempt Organization Return": Form 8868 grants an automatic 6-month extension for 990, 990-EZ, and 990-PF filings
- IRS, "Form 990, Return of Organization Exempt from Income Tax": Full Form 990 requires detailed revenue/expense statements, balance sheet, governance, and compensation disclosures
- IRS, "Form 990-EZ, Short Form Return of Organization Exempt from Income Tax": 990-EZ thresholds: gross receipts under $200,000 and total assets under $500,000