Non-profit tax filing?

[golfgal]

We recently formed a non-profit booster club for the girls golf team. What tax forms (end of year, income type forms) do we need to file? We have our tax ID number, 503(c) status, etc. done. We only had about $1000 in "income" (fundraiser money) for 2010.

 

[Cheshire Figment]

You will need either a Form 990 or more than likely a Form 990-EZ. Click here to a link dirrectly to the IRS web site on the pages for the Formm 990, related forms, and instructions.

 

[golfgal]

Thanks!

 

[Bearvet]

Actually I believe you file an e-postcard form 990N or something like that. I'll try to check later. This is assuming you have filed to become a 501c3 organization. The threshhold for filing a longer form is something like $50,000 for non-profits.http://www.irs.gov/charities/article/0,,id=169250,00.html very easy....

 

[tvguy]

Anything less than $100,000 is 990 EZ. Over $100,000 is 990 long form.

Make sure you keep acurate records, and that copies are passed down as officers change.

Our Little League got audited the year I was President, for a year I was not even on the board. It was a challenge to reconstruct documents. What got the IRS's interest was $30,000 we carried over from one year to the next. The local Park District had loaned up $200,000 to build our facilities on their land, and we did a special fundraising drive to pay off the balance, and our payment wasn't due until March, and all the fundraising was done the year before.