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Asked by Travis Badger on Jun 05, 2024

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Nonprofits file a Form 990 with the Internal Revenue Service when their annual revenues exceed $100,000.

Form 990

The IRS form used by tax-exempt organizations to provide the public with financial information about the organization, including how their funds are used.

Internal Revenue Service

The U.S. government agency responsible for tax collection and tax law enforcement.

Annual Revenues

The total income generated by a business or organization from its operations over the course of a year before any expenses are deducted.

  • Understand the internal revenue filing requirements for nonprofit organizations.
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KC
Kaitlin CoyleJun 08, 2024
Final Answer :
False
Explanation :
Nonprofits are generally required to file Form 990 with the IRS if their annual gross receipts are normally more than $50,000, not $100,000.

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