What is form 990? treasurer's plain-english guide

Last updated 2026-07-24

what does a treasurer do?

A treasurer is the person responsible for a group's money: tracking what comes in, tracking what goes out, keeping the bank account reconciled, and making sure somebody actually files the tax paperwork every year. That's the job in one sentence. Everything else is detail. In practice, a booster club or PTO treasurer usually handles deposits from fundraisers and dues, writes or approves checks (or Venmo/Zelle payments, which is its own headache), keeps receipts, reports a balance at meetings, and files the group's annual return with the IRS. Some treasurers also handle a state raffle license, sales tax exemption paperwork, or a state charity registration, depending on what the group does. The honest answer to "what does a treasurer do in a club" is: whatever the last treasurer didn't write down. New treasurers spend a shocking amount of time reconstructing history because nobody kept a binder. If you're stepping into the role cold, your first move isn't spending, it's finding out where the bank statements, the EIN, and last year's tax filing actually live. A club treasurer doesn't need an accounting degree. Most successful volunteer treasurers are organized parents or community members who can keep a spreadsheet honest and ask questions when something looks off. The job is more about discipline than expertise.

what is a treasurer, exactly, and who can be one?

A treasurer is an officer of an organization, usually named in the bylaws, who is legally and practically accountable for the group's finances. In a booster club or PTO, that's almost always a volunteer parent or community member elected or appointed for a term, often one or two years. There's no license required to be a treasurer of a small nonprofit. Your bylaws might set requirements (a background check for youth-sports groups, a co-signer on checks, a term limit), but the IRS doesn't certify treasurers. What the IRS does care about is that the organization itself, not any one person, files its return and pays any tax it owes. If you're the treasurer, that filing duty lands on your desk by default. One thing that surprises new treasurers: you're often personally handling money that belongs to a legal entity separate from you. If your group has a 501(c)(3) or 501(c)(4) determination, or is applying for one, the organization has its own IRS Employer Identification Number (EIN) and its own filing obligations, independent of whoever holds the treasurer title this year. Losing track of that EIN, or the group's tax-exempt status, is the single most common crisis new treasurers walk into.

what is form 990?

990-N (e-Postcard)	Smallest orgs	Normally $50,000 or less [3]
990-EZ	Mid-size orgs	Gross receipts under $200,000 AND total assets under $500,000 [4]
990 (full form)	Larger orgs	Gross receipts $200,000+ OR total assets $500,000+ [4]
990-PF	Private foundations	All private foundations, regardless of size [1]	Most booster clubs and PTOs fall into the 990-N or 990-EZ bucket. If your group's biggest fundraiser had a great year and pushed receipts over $50,000, check the current 990-EZ and full form 990 thresholds directly on IRS.gov, because these numbers are set by IRS instructions and can be updated.

Form 990 is the annual information return that tax-exempt organizations file with the IRS. It's not an income tax return in the way most people think of one; it's a public disclosure document that reports the organization's revenue, expenses, assets, and activities for the year ^[1]. The IRS states plainly: "Tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations file Form 990 to provide the IRS with the information required by section 6033" ^[1]. Section 6033 of the Internal Revenue Code is the actual law requiring most exempt organizations to file annually ^[2]. There are several versions depending on your organization's size, and this is where a lot of confusion starts for new treasurers: | Form | Who files it | Gross receipts threshold |

what is a 990 tax form used for?

The 990 tax form exists so the IRS, and the public, can see how a tax-exempt organization raised and spent its money. It's a transparency tool, not primarily a revenue-collection tool, since most filers on a 990 series owe no income tax. Donors, grantmakers, and watchdog sites like GuideStar/Candid and ProPublica's Nonprofit Explorer pull data straight from filed 990s. If a parent wants to see how much your booster club spent on uniforms versus administrative costs, a full 990 or 990-EZ is where they'd look. A 990-N doesn't disclose financial details, just confirms the organization is still active, which is part of why the IRS pushes larger organizations toward the more detailed forms. The 990 also functions as the mechanism that keeps your tax-exempt status alive. Miss three years in a row, in any combination of 990-N, 990-EZ, 990, or 990-PF, and the IRS automatically revokes your exempt status by operation of law under Internal Revenue Code section 6033(j) ^[5]. There's no warning letter that says "last chance." The revocation is automatic once three consecutive years lapse.

what does a 990-N (e-postcard) actually require?

The 990-N is the simplest version: eight pieces of information, filed entirely online, with no financial figures at all. The IRS confirms organizations must provide the legal name, any "doing business as" names, mailing address, website (if any), EIN, name and address of a principal officer, tax year, and confirmation that annual gross receipts are normally $50,000 or less ^[3]. There's no paper form. You file it through the IRS's Form 990-N electronic filing system linked from IRS.gov ^[3]. It takes most treasurers under fifteen minutes once you have the organization's EIN and basic details handy. The catch: because it's so easy, treasurers forget it exists until they get a notice, or don't get one, and later discover three years passed silently. The IRS doesn't mail reminders for 990-N the way it does for some other filings. Set your own calendar reminder; don't wait on the IRS.

what does a treasurer of a club do differently from a nonprofit's paid CFO?

A volunteer club treasurer does the same core job as a paid finance officer, just at a much smaller scale and usually part-time. No salary, no staff, often just a shoebox, a spreadsheet, and a Saturday afternoon once a month. The differences that matter: a club treasurer typically handles cash from concession stands and car washes, works with a volunteer board rather than paid management, and juggles the treasurer job alongside a full-time career and parenting. A paid CFO at a mid-size nonprofit usually has an accountant, a bookkeeper, and audit committee oversight. A booster club treasurer often has none of that, which is exactly why simple, repeatable systems matter more here than in a bigger organization. Good club treasurers build habits that substitute for the oversight a bigger nonprofit gets from staff: two signatures on checks over a set dollar amount, a monthly reconciliation against bank statements, and a habit of scanning receipts instead of stuffing them in a bag. None of that requires special training. It requires consistency.

what happens if a treasurer misses the 990 filing deadline?

Nothing catastrophic happens after one missed year. The real danger is three years in a row. Internal Revenue Code section 6033(j)(1) states that failure to file required 990-series returns for three consecutive years results in automatic revocation of tax-exempt status, effective as of the filing due date of the third year ^[5]. The deadline itself is the 15th day of the 5th month after your organization's fiscal year ends, so for a calendar-year group (fiscal year ending December 31) that's May 15 ^[1]. Extensions are available on Form 8868 for most 990-series returns. If your group already got hit with automatic revocation, the IRS publishes a list of ways to apply for reinstatement, including a streamlined retroactive process for smaller organizations that file Form 1023 or Form 1024 within 15 months of the revocation date ^[6]. Confirm the current retroactive reinstatement procedures and any user fee amount directly with the IRS, since the specific streamlined-process eligibility rules and fees have changed over time.

how do treasurers check if their group's tax-exempt status is still active?

The IRS publishes a free, searchable Tax Exempt Organization Search tool on IRS.gov that lets anyone look up an organization by name or EIN and see its exempt status, filed 990s, and whether it appears on the Auto-Revocation List . This should be one of the first things a new treasurer does, before spending a dollar. If your group's name doesn't come up as active, or shows up on the Auto-Revocation List, don't panic, but don't ignore it either. Pull the group's last filed return, check the EIN matches what's on old bank statements, and start the reinstatement conversation with a qualified accountant or attorney if the status is genuinely revoked. Worth noting: some very small, informal booster clubs never applied for 501(c)(3) or 501(c)(4) status in the first place. If your group has been operating on a coach's personal bank account with no EIN at all, that's a bigger structural problem than a missed 990, and it's worth getting proper legal and tax guidance before your next fundraiser.

what records does a treasurer need to keep, and for how long?

The IRS recommends exempt organizations keep records supporting items on a filed return for as long as they may be needed to administer any provision of the Internal Revenue Code, and specifically suggests keeping records for at least three years after filing, since that's the general statute of limitations for the IRS to assess additional tax on a return . In practice, most nonprofit accountants recommend keeping bank statements, board minutes, and 990 copies for at least seven years, and permanent documents (articles of incorporation, IRS determination letter, EIN confirmation) forever. A simple system beats a complicated one. A dedicated folder (physical or digital) per fiscal year, with bank statements, receipts, the filed 990 or 990-N confirmation, and meeting minutes, covers most of what a new treasurer or an auditor will ever ask for. This is where a lot of groups get burned during handoffs: the outgoing treasurer has everything in their head or their personal email, and the incoming treasurer inherits nothing. If you're building a system from scratch, our State-Personalized Treasurer Kit is a one-time $99 packet built around your specific state's rules and a standard filing calendar, meant to sit in that handoff folder so the next person isn't starting from zero.

990-N vs 990-EZ vs full 990: which one does your group file?

The form you file depends on gross receipts and total assets for the year, not on your organization's mission or size of membership. A tiny booster club with an unusually large one-time donation could jump from 990-N to 990-EZ territory in a single year. Quick decision guide: - Gross receipts normally $50,000 or less: file Form 990-N (e-Postcard) ^[3].

• Gross receipts under $200,000 and total assets under $500,000: file Form 990-EZ, or the full Form 990 if you prefer more detail ^[4].
• Gross receipts $200,000 or more, or total assets $500,000 or more: file the full Form 990 ^[4].
• Private foundation of any size: file Form 990-PF ^[1]. Run the actual numbers every year; don't assume last year's form still applies. Confirm current thresholds on IRS.gov before filing, since these figures come from IRS instructions and have shifted over time.

does filing a 990 have anything to do with state charity registration or raffle licenses?

Filing a 990 with the IRS is a federal requirement and it's separate from any state-level charity registration or raffle license your booster club or PTO might need. Many states require nonprofits that solicit donations or run raffles to register separately with a state charity office or the state attorney general, and some states ask for a copy of your most recent 990 as part of that registration. Don't assume a completed IRS filing satisfies your state. Confirm with your state charity office or attorney general whether your group needs separate charitable solicitation registration, and confirm with the same office (or your state's gaming/lottery division) what raffle license rules apply if your group runs a raffle. Requirements and fees vary widely by state and change periodically, so treat any specific number you find online as a starting point to verify, not a final answer.

quick faq recap: the exact words treasurers search for

People land on this page searching some version of "what does a treasurer do," "what is form 990," or "what is the 990," often mid-panic after inheriting a shoebox of receipts. The short version: a treasurer manages the money and makes sure required filings happen; Form 990 is the annual IRS disclosure return that keeps a tax-exempt group's status alive. If you want to go deeper on any one piece, we've got dedicated explainers on 990-N filing specifics and the full 990 tax form, plus a walkthrough of the IRS Form 990 itself line by line. None of this is tax or legal advice, and we're not accountants or a law firm. When a real dollar figure or filing deadline is on the line, confirm with the IRS and your state charity office, or with a qualified accountant familiar with nonprofit filings.

Frequently asked questions

What does a treasurer do?

A treasurer tracks an organization's money in and out, keeps bank records reconciled, reports balances to the board or membership, and makes sure required tax filings (like Form 990 or 990-N) actually get submitted each year. In a booster club or PTO, it's almost always a volunteer role.

What is a treasurer in a club or booster organization?

A treasurer is the officer responsible for an organization's finances, usually named in the bylaws and elected or appointed for a term. There's no license required; bylaws may add requirements like background checks, but the IRS holds the organization, not the individual, responsible for filings.

What is Form 990?

Form 990 is the annual information return most tax-exempt organizations file with the IRS to report revenue, expenses, and activities, required under Internal Revenue Code section 6033. It's a public disclosure document, not typically an income tax bill, since most 990 filers owe no tax.

What is the 990 used for, exactly?

The 990 lets the IRS and the public see how a tax-exempt organization raised and spent money. Sites like Candid/GuideStar and ProPublica's Nonprofit Explorer pull data from filed 990s. It also proves your group is still active; missing three straight years triggers automatic revocation of tax-exempt status.

What is a 990 tax form for a small booster club?

Most small booster clubs and PTOs with gross receipts normally $50,000 or less file the simplified Form 990-N, an eight-question e-Postcard filed entirely online through IRS.gov, with no financial figures reported. Larger groups file the more detailed 990-EZ or full Form 990 instead.

What does a club treasurer do day to day?

Day to day, a club treasurer deposits fundraiser and dues money, pays approved bills, keeps receipts and bank statements organized, reconciles the account monthly, reports a balance at meetings, and handles the annual IRS filing. Bigger tasks (raffle licenses, state registration) come up seasonally, not daily.

Do all nonprofits have to file a 990?

Most tax-exempt organizations recognized under IRC section 501(a) must file some version of the 990 series annually, per section 6033. A few categories are excepted, including certain churches and church-affiliated organizations; confirm your group's specific filing requirement directly with the IRS or a qualified accountant.

What happens if a treasurer never files the 990?

Missing one year isn't fatal, but missing three consecutive years triggers automatic revocation of tax-exempt status under IRC section 6033(j), with no advance warning notice. After revocation, the organization may owe income tax and typically must apply for reinstatement, sometimes retroactively, through the IRS.

How do I know which 990 form my organization should file?

Check gross receipts and total assets for the year. Normally $50,000 or less in gross receipts means Form 990-N; under $200,000 in receipts and under $500,000 in assets means Form 990-EZ (or full 990); above either threshold means the full Form 990. Confirm current thresholds on IRS.gov.

Is Form 990 the same as an income tax return?

Not really. Form 990 is an information return that discloses financial activity and governance details; most tax-exempt filers owe no income tax on it. Unrelated business income, if a group has any, gets reported separately on Form 990-T, which is a genuine income tax return.

Can a new treasurer check if the group's tax-exempt status is still valid?

Yes. The IRS Tax Exempt Organization Search tool on IRS.gov lets anyone search by name or EIN to see current exempt status, filed 990s, and whether the organization appears on the Auto-Revocation List. Checking this on day one saves a lot of trouble later.

Does filing the 990 replace state charity or raffle registration?

No. Form 990 is a federal filing. Many states separately require charitable solicitation registration or raffle licenses through a state charity office, attorney general, or gaming division, sometimes asking for a copy of the most recent 990. Confirm requirements directly with your state's charity regulator.

How long should a treasurer keep financial records?

The IRS recommends keeping records supporting a filed return for at least as long as the statute of limitations applies, generally three years after filing, per IRS recordkeeping guidance. Many nonprofit advisors suggest seven years for financial records, and permanent retention for founding documents and the IRS determination letter.

Sources

1. IRS, About Form 990: Form 990 is the annual information return tax-exempt organizations file, required under section 6033; deadline is the 15th day of the 5th month after fiscal year end
2. 26 U.S. Code section 6033, Cornell Legal Information Institute: Section 6033 requires most tax-exempt organizations to file annual returns
3. IRS, Annual Electronic Filing Requirement for Small Exempt Organizations (Form 990-N): Organizations with gross receipts normally $50,000 or less file Form 990-N with eight required data fields
4. IRS, Form 990-EZ instructions: Form 990-EZ can be filed by organizations with gross receipts under $200,000 and total assets under $500,000
5. IRS, Automatic Revocation of Exemption: Failure to file required 990-series returns for three consecutive years results in automatic revocation of tax-exempt status under IRC 6033(j)
6. IRS, Tax Exempt Organization Search: Free searchable IRS tool shows exempt status, filed 990s, and Auto-Revocation List status by name or EIN