990 Preparation

It’s tempting to see the 990 as another obligation to fulfill, but for many nonprofits, this may be the first or only place a potential funder, volunteer or board member may go to form an opinion on your organization.

As the primary or only public document on your organization aside from your website, this makes it an opportunity as well as a potential liability. A savvy reader of 990s knows where to look, and makes judgements based on what they find there.

That said, it seems to us like a mistake to leave this form to a generalist tax firm that fills out only a handful every year. It also seems to us like a mistake to hire another firm to do your 990 when you have audited financial statements prepared by another firm, because that exposes you to possibility that they will seem to say something different to those who may have access to both.

Let us help you take advantage of the opportunity to file a 990 that shows your organization as it is: well operated, financially stable and sustainable, highlighting your best and biggest programs.

FAQs

Thanks for giving me a chance to toot my own horn, FAQs! I actually kind of love 990s! Also, not much fun at parties. I started out as a tax accountant, and at one point I did every 990 that came through the door of a larger accounting firm in Maine. I do a lot fewer these days, but it’s not because I don’t
There is a great resource I recommend for all your questions: try some of the excellently well-written resources at MANP (https://library.nonprofitmaine.org/) -see the financial management offerings.
First of all, that’s not a question. But if you’re here, you’re in luck. I was an auditor for 10 years, as well as working for a medium sized nonprofit that had to do a single audit. I have seen it all, I would be happy to talk about preparing for that. Also, please stay tuned to my youtube page, where I will be adding a series of videos about this very thing.