Form 990 Explanation

• Annual information return form is filed with the IRS by most tax-exempt organizations
• Dramatically redesigned form for 2008 tax year
• Primary source of information about the nonprofit sector
• Two basic purposes:
- Enables government to enforce laws.
- Provides information about the financial condition and relative fiscal health of the organization.

Importance of the Form 990

• Available for public inspection by a request to the IRS or Community Foundation via the GuideStar Web Site at www.guidestar.org and the Community Foundationís website.
• Accountability
- Keep public trust and confidence by demonstrating the Community Foundation is accountable and responsible to the fulfillment of its mission and purpose.
- Public relations tool—help inform donors and the media of how the Community Foundation is meeting its mission.