professional development

UNDERSTANDING IRS FORM 990

NPCs staff should work diligently with their auditor to ensure that the NPC IRS Form 990 and schedules are completed in accordance with IRS guidance.  For proper fiduciary oversight, the board should review and discuss the 990 with the auditor, to ensure awareness and understanding of the information provided in the form. 

Special Hint: NPC should create a chart of accounts that provides sufficient detail to ensure accurate reporting on IRS Form 990, financial statements and the annual report to VA.

• February 6, 2006 Guidance on completing IRS FORM 990

• Click here for a table of line by line discussion of key IRS Form 990 line items. NAVREF and CPA Jane Searing collaborated on this document to provide NAVREF members with information tailored to address their particular needs. 

• Listen to the November 9, 2004 Conference Call with presenter Jane Searing, CPA, on Understanding the IRS Form 990.  Click here for link to recording. Note:  The recording starts 10 minutes into the workshop.  No substantive information is missing. 

• PowerPoint Presentation 11/9/04  

• Helpful Links

Disclaimer:  Information presented during the teleconference and/or linked does not constitute legal or accounting advice.  Please consult an accountant familiar with your organization and state regulations for advice.  

Helpful Links

• Internal Revenue Service (IRS)

  • IRS website: http://www.irs.gov/

  • IRS Form 990 and Form 990-EZ Instructions: http://www.irs.gov/pub/irs-pdf/i990-ez.pdf

  • IRS Form 990: http://www.irs.gov/pub/irs-pdf/f990.pdf

  • IRS Form 990, Schedule A Instructions: http://www.irs.gov/pub/irs-pdf/i990sa.pdf

  • IRS Form 990, Schedule A Form: http://www.irs.gov/pub/irs-pdf/f990sa.pdf

  • IRS Form 990, Schedule B Form: http://www.irs.gov/pub/irs-pdf/f990-ezb.pdf

• SOP 98-2

  • AICPA: http://www.aicpa.org/pubs/jofa/aug98/capin.htm

  • Langan and Associates Compliance Checklist http://www.langancpa.com/client/chklist.html

• Financial Accounting Standards Board

  • FASB 136: http://www.fasb.org/st/summary/stsum136.shtml

• GuideStar

  • Tutorial on 990s: http://www.guidestar.org/learn/tutorial/990_0intro.jsp

Special Thanks!  NAVREF thanks Jane Searing for developing content designed to meet the unique needs of the NPCs. We also thank Eileen Lennon, Ph.D., Executive Director, and Jude Harlan, Controller, Seattle Institute for Biomedical and Clinical Research, for providing invaluable input.

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last updated: 01/31/08

 

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