Until recently the Internal Revenue Service had no mandatory filing requirements for small nonprofit organizations with gross receipts normally less than $25,000. Those organizations with gross receipts greater than $25,000 were required to file an IRS Form 990 or Form 990-EZ. Over the last several years the IRS has begun to phase in requirements for smaller nonprofits with gross receipts of less than $25,000 to file basic information with the agency. This is done online though the use of an IRS Form 990-N or “e-postcard” as it is sometimes called. Organizations failing to file a Form 990-N for three consecutive years will have their exempt status automatically revoked.
This week the IRS changed the threshold reporting requirements for filing a Form 990-N by upping the maximum allowed gross receipts from $25,000 to $50,000. This means more organizations will be allowed to file only minimal information of name, address, phone number, web page, and contact name starting with their 2010 filing.