How to prepare for and file Form 990: governance checks, public support testing, unrelated business income, compensation reporting, and schedule compliance.
Verify the organization's exempt status, type (501(c)(3), etc.), and the correct form (990, 990-EZ, or 990-N). Confirm the filing deadline and any extensions.
Check board composition, meeting minutes, conflict-of-interest policy, whistleblower policy, and document retention policy. Document any governance gaps.
For 501(c)(3) public charities, calculate the public support fraction using Schedule A. Track contributions from disqualified persons and ensure the organization maintains public charity status.
Review all income streams for unrelated business income tax (UBIT) filing requirements. Common triggers: advertising revenue, rental income with debt financing, and unrelated business activities.
Complete the core form and all required schedules. Review compensation reporting (Part VII), functional expense allocation (Part IX), and reconciliation with financial statements.
990 includes the templates, checklists, logs, and SOPs to execute this workflow consistently across every engagement.