The Form 990 is often called an “informational return,” but for nonprofits it’s much more than just a tax filing. This document is a window into a nonprofit’s financial health, governance practices, and mission impact. Donors, board members, staff, and even regulators use the Form 990 to assess accountability and...
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We often receive calls from nonprofit organizations preparing for their first financial statement audit—and the motivations vary:“We just hit $500,000 in revenue.”“Our board thinks it’s a best practice.”“We’re applying for bigger grants.”Or sometimes: “We’ve had a fraud incident and need help understanding what happened.”All understandable reasons, but let’s clear up...
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