Spotlight turns to Form 990 Compliance (July 23, 2010)
Nonprofit organizations that fail to file the required IRS Form 990 for three consecutive years face potential revocation of tax-exempt status. As 2010 is the first year in which this penalty may be applied to organizations failing to comply, a great deal of media attention has turned to smaller-budget nonprofits that may have unwittingly put their status in jeopardy. The IRS has begun an initiative to help those organizations come into compliance and to better inform the nonprofit community of the Form 990 filing requirements. A helpful overview about how to file is available from Independent Sector, and a comprehensive webinar about completing the Form 990 is available from the League.
The League is a member of the Performing Arts Alliance, a coalition of national performing arts service organizations dedicated to advocating for national policies that recognize, enhance, and foster the contributions the performing arts make to America