Last week I had a chance to speak to the California Advancement Researchers Association on how to use SEC filings for prospecting research. While I was at the conference I decided to check out some of the speakers.
I attended one session on how to search for information in Forms 990 and what is included in these forms. Wow, what a great session and I learned quite a bit of information!
Speaker: Lynn Rahn, CPA of U of CA in Irvine
Topic:Ins and Outs of a Foundation's IRS 990
Beginning in 2008, small tax-exempt organizations, whose gross receipts are less then $25,000 may be required to file an electronic notice called the Form 990-N. Organizations that do not file the notice will lose their tax-exempt status. I'm thinking, does this include our DALL organization? Something to check out.
http://www.irs.gov/charities/article/0..id=171216.00.html
It's incredible about what you can find in these IRS Forms: income statements, balance sheets, key employees, directors, grant receipients, contributors, etc.
And did you know that there are minutes from the nonprofits's meetings and they contain some great information? Only problem is that the minutes are not filed electronically, so you have to ask for a copy of the minutes.
Additional information:
Form 990 for organizations that have an annual gross receipts greater than $25,000.
Form 990EZ for organizations that have an annual gross receipts greater than $25,000 but less than $100,000 and total assets are less than $250,000
Resources to search the 990s:
Guidestar (a database I believe we all might be familiar with)
http://www.guidestar.org
Foundation Search (Searches multiple 990s including US and Canada)
http://www.foundationsearch.com/
Foundation Directory Online
http://fconline.fdncenter.org/
Foundation Center
http://foundationcenter.org/search/
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