February 2008: Volume 2

Providing financial oversight is one of the primary legal responsibilities of the nonprofit Board. While this may not be one of the most exciting topics, we feel compelled to address it in light of the recent changes with 990 reporting for ALL nonprofits.

Starting in 2008, all tax exempt organizations
MUST file Form 990.

There are several versions of Form 990, from a post-card format for the smallest groups to the full 990 for groups with greater earnings. Make sure that you files the appropriate form for your organization based on the total income you bring in.