Accounting Standards

Learn the guidelines for accounting for contributions received and contributions made, at the Financial Accounting Standards Board.

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Access the document: Financial Statements of Not-for-Profit Organizations, by the Financial Accounting Standards Board, here.

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Financial Management

Understanding the ebbs and flows of your organization’s cash will help you make smart management decisions that protect your core programs and overall sustainability. Use this Cash Flow template to manage cash flow at your organization. Find more nonprofit financial management resources at Nonprofits Assistance Fund.

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Learn the summarized key positions of the Nonprofit Integrity Act, 2004.  Access them here.

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The Sarbanes-Oxley Act was signed into law on July 30, 2002. Passed in response to the corporate and accounting scandals of Enron, Tyco, and others of 2001 and 2002, the law’s purpose is to rebuild public trust in America’s corporate sector. The law requires that publicly traded companies adhere to significant new governance standards that broaden board members’ roles in overseeing financial transactions and auditing procedures.

Learn more at BoardSource.

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Tax Resources

View the IRS Compliance Guide for 501(c)(3) Public Charities here.

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Access this helpful list on the IRS website.

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This Background Paper provides a summary of the new 2008 Form 990 and its instructions, effective for 2008 tax years (returns filed beginning in 2009). It also outlines the transition relief available for smaller organizations for 2008 and 2009 tax years, which allows many smaller organizations to file Form 990-EZ rather than the new Form 990 for such years, and summarizes the new reporting requirements for small organizations required to file Form 990-N.

Materials contained in the IRS Background Paper Form 990

  • Overview of Changes to 2007 Form 990
  • Filing Requirements for Most Smaller Organizations: Form 990-EZ and Form 990-N
  • Listing of 2008 Core Form Part
  • Listing of 2008 Schedule
  • Summary of the revised instructions, Glossary and appendices for the 2008 Form 990
  • Comparison of 2008 Core Form to 2007 Form
  • Descriptions of each part of the core with each separate description explaining the part’s purpose, rationale and overview, key points, and effect on reporting
  • Descriptions of each schedule with each separate description explaining the schedule’s purpose, applicable Form 990 Part IV checklist trigger question(s), rationale and overview, key points, and effect on reporting

This Background Paper is intended to summarize information contained in the 2008 Form 990 and instructions. If there is an inconsistency between a description contained in this Background Paper and the actual form or instructions, the form or instructions govern.

Download the full IRS Background Paper Form 990.

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Useful Additional Resources

Understanding the ebbs and flows of your organization’s cash will help you make smart management decisions that protect your core programs and overall sustainability. Use this Cash Flow template to manage cash flow at your organization. Find more nonprofit financial management resources at Nonprofits Assistance Fund.

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To access IRS Summary of 990 Redesign, click here.

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