Center for Integrative Education

THE NEW 990 - KEY POINT SUMMARY

By Anne Davis

The redesign of Form 990, the first since 1979, is based on three guiding principles:

•		Enhancing transparency to provide the IRS and the public with a realistic picture of the organization;
•		Promoting compliance by accurately reflecting the organization’s operations; and
•		Minimize the burden on filing organizations.

The redesigned Form 990 will consist of a 10 page core form and then 15 schedules designed for organizations that conduct particular activities.

Highlights of the new form are:

•		A summary page providing the organizations’ identifying information and a snapshot of the organization’s key financial, compensation, governance, and operational information;
•		A portion of the form requiring governance information including the composition of the board and certain other governance and financial statement practices; and
•		Schedules that will focus reporting on certain areas of interest to the public and the IRS: fundraising, compensation, hospitals, tax exempt bonds and non-cash charitable contributions.

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