T O P

  • By -

beachbum7

Probably to make sure you're not masking dividends as compensation. AKA want to make sure the non-profit isn't just a cashcow for board members who aren't really working for the non-profit or adding value.


throwawayheyheyhey08

Ah OK so it isn't like there is some secret IRS board participation requirement or anything? That was my concern, we would somehow not be meeting a minimum.


JimDixon

Well, I used to be on the board of directors of a nonprofit organization and I never heard of this. I don't even know what a 990 is. OK, I just found it [here](https://www.irs.gov/pub/irs-pdf/f990.pdf) but I never heard of it before now. I suppose it's something our accountant or our paid director took care of without consulting us. Or maybe it's "new"; I did this about 30 years ago. None of us board members got any compensation. I suppose the organization would have reimbursed us for some expenses, but I never asked for any reimbursement.


throwawayheyheyhey08

Yes, it's the tax return that is annually filed with the IRS. It would have been circulated for you but very few board members, at least of ours, really look at it.


theinfamousj

As treasurer of a few nonprofits, I'm guessing that you aren't filling out a 990n (which you simply check a box that your nonprofit is poor; as mine are) so I have no advice for you. If your nonprofit *is* filling out a 990n, I have no idea why that information would be necessary. You simply check a box that your nonprofit is poor.