990 Report

Written by Dana Kinsey

Last published at: March 5th, 2020

Form 990 or the 990 Report is an annual reporting tax form that federally tax-exempt organizations must file with the IRS. The 990 provides information on the filing organization's mission, programs, and finances. Source: Guidestar[1]

The reports created in Financials, Reports and 990 Report will provide the information needed to fill out your annual Form 990.

The CommunitySuite system has the following fund accounting features necessary to gather the data you need to complete the form.

  • Foundation Financial information
  • Revenue Breakdown
  • Functional Expenses 
  • Significant donor reports – Donors who gave over $5000 can be pulled from database
  • Grant reports or Grantees who have received over a specified amount in your financial year
  • Compensation reports for employees

NOTE: To make 990 reporting go smoothly it is recommended that you set up your chart of accounts to mirror the 990 requirements.

Your system can help you report the number of donors giving over $5000, the number of grantees with grant amounts over a certain threshold and the total amount of public support provided in a financial year.