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Every year, most tax-exempt groups owe the IRS a short report or a long one. Skip it three years in a row and the IRS takes away your exempt status on its own, with no warning call first. For Cincinnati charities, booster clubs, ministries and small foundations, we figure out which version of the Form 990 you owe, prepare it from your real numbers and file it before the deadline.
When You Need Form 990 Preparation
Which form you file depends on size. The IRS chart of which 990 forms exempt groups file sets the lines. Groups with gross receipts normally of 50,000 dollars or less can file the 990-N, a short online notice. Groups under 200,000 dollars in gross receipts and under 500,000 dollars in total assets can file the 990-EZ. Anyone at or above either line files the full Form 990. Private foundations file the 990-PF no matter their size.
The return is due by the 15th day of the 5th month after your year ends. For a group whose year ends December 31, that is May 15. Form 8868 gives an automatic six-month extension. If you earn 1,000 dollars or more in gross income from a business outside your mission, such as selling ads in a magazine you publish, you may also owe Form 990-T.
Our Form 990 Preparation Process
We start with your books, bank statements, payroll reports and a list of your board members and officers. If you are a small group without formal books, we can work from bank records. Then we sort every dollar the way the 990 asks: gifts, program income and investment income on one side, and program, management and fundraising costs on the other. That split is where most self-prepared 990s go wrong.
Next we fill in the schedules that apply, such as the public support test many charities must pass. You get a draft to read with plain notes on anything that stands out. Once you approve it, we file it electronically and send you a copy for your records and your board.
Form 990 Preparation Cost in Cincinnati
A 990-N takes far less time than a full 990 with several schedules. Beyond the form itself, the biggest factor is the state of your books. Clean, matched books cost less to work from than a year of bank statements we have to sort by hand. The number of programs, grants with special rules, and a 990-T all add work. We tell you our fee before we begin.
One 990, Two Filings in Ohio
Ohio charities that must register with the Ohio AG’s office also owe the state a yearly report. The good news is that Ohio generally accepts a complete copy of your federal 990 in place of its own financial report, and the state report is due on the same 15th-day-of-the-5th-month schedule. So one careful 990 does double duty. We prepare it with the state copy in mind and remind you when both are due.
Why Choose Us for Form 990 Preparation
Nonprofit returns are one of the things our office is known for, not a side job. Because we also keep books and run payroll for nonprofits, we know how the numbers should flow from your ledger to the 990. We have prepared returns in Cincinnati since 1993, and we are open all year. That matters when your 990 is due in May or November.
The 990 fits inside our year-round financial help for tax-exempt groups.
Common Questions
Can our small group just file the e-Postcard?
If your gross receipts are normally 50,000 dollars or less, yes, the 990-N is usually enough. Some groups choose a fuller return anyway because a grant maker asks to see real numbers.
What if our books are not ready by May 15?
File Form 8868 by the due date to get an automatic six-month extension. We can file the extension for you, then use the extra time to get the books in shape.