Last updated 2026-07-24
TL;DR
Form 990 is the annual information return the IRS requires from tax-exempt organizations. Which version you file (990-N, 990-EZ, 990, or 990-PF) depends on your gross receipts and assets. Miss three years in a row and the IRS auto-revokes your tax-exempt status automatically, no warning letter required [1].
What is Form 990?
Form 990 is the annual information return that tax-exempt organizations file with the IRS instead of a corporate income tax return. It's not a bill. Most small booster clubs, PTOs, and youth sports groups owe nothing. The form exists so the IRS (and the public) can see what a tax-exempt group takes in, spends, and holds in the bank. The IRS calls it "Return of Organization Exempt From Income Tax," and the requirement to file comes from Internal Revenue Code Section 6033 [1]. There isn't one single 990. There's a family of them, sized to the organization. A parent group running a $12,000-a-year concession stand files something very different from a regional nonprofit with a paid staff and a building. Here's the part treasurers miss most: even organizations with zero income tax owed still have to file something every year. "Skip filing" is not an option once you have an EIN and exempt status, even informal, all-volunteer status.
What is a 990 tax form, exactly, and why does my small club need one?
A 990 tax form reports your organization's revenue, expenses, assets, and governance to the IRS once a year. It's public information after filing, meaning anyone (a parent, a rival booster club, a journalist) can pull it up on GuideStar/Candid or the IRS's own Tax Exempt Organization Search [2]. Small clubs need one because tax-exempt status isn't permanent or automatic. The IRS granted your group exemption (either directly through a 501(c)(3)/(c)(4) determination or because you're covered under a group exemption from a parent organization like a PTA council), and the price of keeping that status is an annual filing. Nonprofits with under $50,000 in gross receipts file the simplest version, the 990-N, which takes about 10 minutes online [3]. Skip it, and nothing happens the first year. Nothing happens the second year either. The third year you miss it, the IRS revokes your exempt status automatically, no notice, no appeal period before the fact [4]. Read more on the 990-n filing process if that's your group's size.
What is the 990? A quick history and why it looks the way it does
The modern 990 got a major redesign in 2008, expanding it from a fairly plain financial form into something that also asks about board governance, conflict-of-interest policies, and executive compensation. The IRS said the redesign aimed "to enhance transparency, promote tax compliance, and minimize the burden on filing organizations" [4]. That's IRS language, not marketing copy, but it does explain why a form that used to be two pages for small groups now has a menu of schedules (A through R) depending on your activities. Most booster clubs and PTOs will never touch most of those schedules. Schedule A (public charity status) and Schedule G (fundraising and gaming) are the two you're most likely to see if you run raffles, silent auctions, or bingo nights. If your total raffle or gaming revenue crosses IRS reporting thresholds, Schedule G disclosure kicks in, separate from any state raffle license requirement. The 990 family today: 990-N (postcard), 990-EZ, 990 (full/long form), and 990-PF (private foundations only). Almost no volunteer-run booster group or PTO files a 990-PF; that's for grant-making foundations, not groups running bake sales and car washes.
What does a treasurer do? (And who actually files the 990?)
A treasurer tracks the organization's money: deposits, disbursements, bank reconciliations, budget reports to the board, and the annual tax filing. In a volunteer group, the treasurer is usually the one person who both understands the books and has the login credentials for the IRS's e-filing portal, so the 990 lands on their desk by default. That's a lot for one volunteer. In practice, filing the 990-N or 990-EZ is mechanical once your books are clean: you need total revenue, total expenses, and total assets for the year, plus basic organization info (EIN, address, principal officer). The hard work happens all year in the ledger, not in the ten minutes it takes to submit the form. A good treasurer also keeps prior-year filings on hand (three years back, ideally), because a new treasurer or auditor will ask for them, and because the IRS's public search tool doesn't always have older filings indexed cleanly [2].
What is a treasurer? Job description for a booster club or PTO
A treasurer is the officer legally and practically responsible for an organization's financial records, bank accounts, and required filings. It's an elected or appointed board position, usually one-year terms, sometimes two. Core duties most bylaws spell out: maintaining the checkbook and bank statements, presenting a budget and actuals report at each meeting, signing or co-signing checks above a threshold, keeping receipts and invoices, and filing the annual 990 (or making sure someone does). Some groups split this: one person handles the 990-N postcard, another handles state charity registration renewal, but usually it's the same person because the numbers overlap. The role carries real personal exposure if records are sloppy. Treasurers aren't personally liable for the organization's exempt status revocation, but they're the one who has to explain it to the board when membership dues suddenly become taxable income because status lapsed.
What do treasurers do day to day, month to month, year to year?
| Start of fiscal year | Set/approve budget |
|---|---|
| Ongoing | Log deposits, expenses, reconcile monthly |
| 4.5 months after fiscal year end | Form 990 due (15th day of 5th month) [5] |
| Annually | State charity registration renewal (varies by state) |
| At officer change | Full records handoff, bank signer update |
Day to day: deposit checks and cash promptly (ideally within a few business days, always with two people counting cash from events), log every transaction in a ledger or simple accounting software, keep receipts filed by month. Month to month: reconcile the bank statement against the ledger, report a summary at the board meeting, flag any budget variance before it becomes a crisis. Year to year: close out the fiscal year, prepare (or hand off to a CPA) the annual 990 filing, renew state charitable registration if required, and do a clean handoff if a new treasurer is taking over. That handoff step gets skipped constantly in volunteer organizations, and it's the single biggest reason clubs end up with three years of missing 990s and an auto-revoked status they didn't know about until a bank asked for a determination letter. A table of the annual cycle: | Timing | Task |
What does a club treasurer do differently from a corporate one?
A club treasurer (booster club, PTO, youth sports league) usually handles far smaller sums than a corporate treasurer, but with far less infrastructure: no accounting department, no controller, often no accounting software beyond a spreadsheet. The stakes per dollar are actually higher in some ways, because there's no backup system catching errors. A club treasurer also deals with cash more than most nonprofits: gate receipts, concession stand cash boxes, raffle ticket sales. That means the job leans hard on financial controls like dual counts, deposit logs, and receipt books, controls a corporate treasurer would take for granted because they're built into accounting software or bank procedures already. The filing burden is lighter, though. Most club treasurers file a 990-N, not a full 990. If your group's gross receipts are normally $50,000 or less, the 990-N postcard is legally sufficient [3], and it takes less time than reading this paragraph twice.
What does a treasurer of a club do at tax time specifically?
At tax time, a club treasurer pulls together total revenue for the year (dues, fundraising, concessions, sponsorships), total expenses, and total assets (cash on hand plus bank balances at year end). That's the core data needed for a 990-N. If gross receipts are between $50,000 and $200,000 (and total assets under $500,000), the group files a 990-EZ instead, which asks for more detail: a breakdown of revenue by source, a statement of functional expenses, and information about officers [6]. Above those thresholds, it's the full Form 990. A quick note on fiscal year: the 990 deadline is the 15th day of the 5th month after your fiscal year ends [5]. Calendar-year filers (fiscal year ending December 31) file by May 15. A group with a school-year fiscal year (July 1 to June 30) files by November 15. Get this date wrong and you start racking up the late-filing clock even if you eventually file.
990-N vs 990-EZ vs 990 vs 990-PF: which one do you file?
| 990-N (e-Postcard) | Small orgs | Normally ≤ $50,000 | Online only, IRS Form 990-N portal [3] | |
|---|---|---|---|---|
| 990-EZ | Mid-size orgs | < $200,000 AND total assets < $500,000 | Paper or e-file | |
| 990 (standard) | Larger orgs | ≥ $200,000 OR total assets ≥ $500,000 | E-file required | |
| 990-PF | Private foundations | Any size | E-file required, regardless of receipts | Source for thresholds: IRS, "Annual Exempt Organization Return: Who Must File" [6]. An organization can always choose to file a more detailed form than required (a small booster club eligible for the 990-N can file a 990-EZ instead if they want the extra transparency or a funder asks for it), but they can't file a simpler one than their receipts qualify them for. See full guidance from the IRS directly: form 990, 990 tax form, and irs form 990 for form-specific walkthroughs. |
This is the question that actually matters, so here's the breakdown by size: | Form | Who files it | Gross receipts threshold | Filing method |
What happens if you miss the deadline or skip filing entirely?
Miss one year, generally nothing dramatic happens immediately for a 990-N filer (there's no monetary penalty for a late 990-N specifically), but for 990-EZ and 990 filers, penalties can run $20 a day up to the lesser of $10,000 or 5% of gross receipts, more for larger organizations [4]. The real cliff is three consecutive years of non-filing. The IRS states plainly: "Organizations that fail to file required 990-series returns for three consecutive years will automatically lose their tax-exempt status" [4]. This is automatic. There's no warning letter before the third failure, and revocation is effective as of the original filing due date of the third year, not the date the IRS notices. Once revoked, the organization's name shows up on the IRS Auto-Revocation List, donations stop being tax-deductible, and the group may owe corporate income tax on activity going forward. Getting reinstated means filing Form 1023 or 1023-EZ again (yes, from scratch) and often requesting retroactive reinstatement with reasonable cause, a process the IRS outlines in Revenue Procedure 2014-11 . It's not instant and it's not free; the application fee for Form 1023-EZ is $275 as of the 2024 fee schedule, and Form 1023 costs more, so confirm current fees with the IRS before filing .
Do state filings replace or add to the federal 990?
State filings add to it, they don't replace it. Most states with a charitable solicitation registration requirement want an annual renewal, and many of them ask you to attach a copy of your federal 990 (or 990-N confirmation) to that renewal . So the federal filing often feeds directly into your state paperwork. Some states also want financial statements or an independent audit above certain revenue thresholds, separate from anything the IRS asks for. This varies a lot state to state and changes periodically, so confirm current thresholds and forms with your state charity office or attorney general before assuming last year's rules still apply. If your group runs raffles or gaming nights, that's yet another layer, usually a separate license from a state gaming or lottery commission, unrelated to either the 990 or the charity registration. Confirm with the IRS and your state charity office which of these actually apply to your group's size and activities; don't assume a small PTO is exempt from all of them just because it's small.
How do you actually file, and what does it cost?
The 990-N is filed for free directly through the IRS's e-Postcard system at irs.gov, no third-party software required, and it takes about 10 minutes if you have your EIN, tax year info, and confirmation that receipts are under $50,000 [3]. The 990-EZ and full 990 are more involved. E-filing is mandatory for these now (the IRS phased out paper filing for most organizations under the Taxpayer First Act), so you'll need either IRS-approved e-file software or a preparer. Costs vary widely: some software runs $0 to $100 for a simple 990-EZ, while a CPA-prepared full 990 for a mid-size nonprofit commonly runs several hundred to a few thousand dollars depending on complexity. Nobody publishes a solid national average for this because it depends so heavily on organization size and local CPA rates; get a quote before committing. A lot of volunteer treasurers over-buy help here. If you're a $30,000-a-year booster club filing a 990-N, you do not need a CPA. If you're a $250,000-a-year multi-sport athletic association filing a full 990 with Schedule G gaming disclosures, a CPA who's done nonprofit returns before is worth the cost. This is where a state-personalized reference tool like the $99 Treasurer Kit earns its keep: it maps out which form your group's size requires and what state paperwork rides alongside it, so you're not guessing or overpaying for help you don't need.
Bottom line for a new treasurer taking over the books
If you just inherited the treasurer job and don't know the last time a 990 was filed, stop and check the IRS Tax Exempt Organization Search tool right now, before you do anything else [2]. It's free, it takes two minutes, and it tells you whether your group's status is active or already revoked. If status is active, figure out your gross receipts for the last completed fiscal year, match it to the threshold table above, and file (or confirm your predecessor filed) before the 15th-day-of-5th-month deadline. If status is revoked, don't panic, but don't ignore it either; reinstatement is a known process, not a dead end, and plenty of small booster clubs and PTOs have come back from it. Either way, this isn't legal or tax advice, and nothing here guarantees a specific filing outcome or exempt status. Confirm current forms, thresholds, and fees directly with the IRS and your state charity office, because both change more often than volunteer treasurers expect.
Frequently asked questions
What is Form 990 in simple terms?
Form 990 is the annual report a tax-exempt organization files with the IRS instead of a corporate income tax return. It shows revenue, expenses, and assets for the year. It's public record once filed, and the specific version required (990-N, 990-EZ, 990, or 990-PF) depends on your organization's size.
What does a treasurer do in a club or booster organization?
A club treasurer tracks all deposits and expenses, reconciles the bank account monthly, reports finances to the board, keeps receipts and records, and files the annual IRS Form 990 (usually the 990-N for small groups). They're also typically a check signer and the keeper of financial history for handoffs to the next treasurer.
What is the 990-N and who qualifies for it?
The 990-N, also called the e-Postcard, is the simplest annual filing, for organizations with gross receipts normally $50,000 or less [4]. It's filed free online through the IRS website in about 10 minutes: EIN, tax year, and a confirmation of the receipts threshold. No financial detail is required beyond that confirmation.
What happens if a nonprofit doesn't file Form 990 for three years?
The IRS automatically revokes tax-exempt status after three consecutive years of not filing any required 990-series return, with no advance warning notice [1]. Reinstatement requires reapplying for exempt status (Form 1023 or 1023-EZ) and often requesting retroactive reinstatement for reasonable cause under IRS procedures.
Do all nonprofits have to file a 990, even small ones?
Yes. Nearly every tax-exempt organization with an EIN must file some version of Form 990 annually, even if it owes no tax. Churches and a few specific categories have exceptions; confirm your group's status with the IRS. Small volunteer groups almost always qualify for the simple 990-N.
How much does it cost to file a 990?
The 990-N is free through the IRS website. The 990-EZ and full 990 require e-filing software or a preparer; software can run $0 to $100 for simple returns, while CPA-prepared full 990s commonly run several hundred to a few thousand dollars depending on complexity. Get a specific quote rather than assuming a national average.
What is the deadline for filing Form 990?
Form 990 is due the 15th day of the 5th month after your organization's fiscal year ends [6]. For a calendar-year filer (year ending December 31), that's May 15. For a school-year fiscal year (July 1 to June 30), that's November 15.
What's the difference between a 990-EZ and a full Form 990?
The 990-EZ is for organizations with gross receipts under $200,000 and total assets under $500,000; it asks for less detail. The full Form 990 is required above those thresholds and asks for a much deeper breakdown of revenue, expenses, governance, and compensation [7].
Can a booster club or PTO lose its tax-exempt status?
Yes, and it happens more than people expect in volunteer-run organizations. The most common cause is missing three consecutive years of 990 filings, which triggers automatic revocation under IRS rules with no prior warning [1]. Officer turnover without a proper handoff is usually the root cause.
How do I check if my nonprofit's tax-exempt status is still active?
Use the IRS Tax Exempt Organization Search tool at irs.gov, free and instant [3]. Search your organization's name or EIN. It shows current status and, separately, the Auto-Revocation List if status was revoked for non-filing.
Does filing a 990 replace state charity registration?
No. Federal Form 990 and state charitable solicitation registration are separate requirements, though many states ask you to attach your 990 (or 990-N confirmation) to your state renewal [11]. Confirm current state requirements with your state charity office or attorney general, since they vary and change.
Who signs and files the Form 990 for a small nonprofit?
Typically the treasurer or another authorized officer, using the organization's EIN and the IRS e-filing system. For 990-N, any authorized person with the org's basic info can complete it in about 10 minutes online. For 990-EZ or full 990, a board-authorized signer is required on the return.
Sources
- 26 U.S. Code § 6033, Cornell Legal Information Institute: The statutory requirement for tax-exempt organizations to file annual information returns
- IRS, Tax Exempt Organization Search: Free public tool to check an organization's exempt status and filing history
- IRS, Annual Electronic Filing Requirement for Small Exempt Organizations (Form 990-N): 990-N eligibility threshold of gross receipts normally $50,000 or less, filed online free
- IRS, Form 990 instructions, filing due date: 990 due date is the 15th day of the 5th month after fiscal year end
- IRS, Annual Exempt Organization Return: Who Must File: Thresholds distinguishing 990-N, 990-EZ, and full Form 990 filers
- IRS Revenue Procedure 2014-11: Process for retroactive reinstatement of tax-exempt status after automatic revocation