Schnaufer & Walker, P.C.   CALL US (972) 798-2046

CPA Services for Nonprofit Organizations & Ministers:

Large-Firm Excellence & Experience at Small-Firm Expense

Schnaufer & Walker, P.C.

2695 Villa Creek Dr, #268

Dallas, TX 75234

Phone:  (972) 798-2046


Call US:  (972) 798-2046

Home Services Due Dates Cool Info

Charitable / religious / and educational nonprofit organizations (churches are exempt from this filing) must file an annual return.  Which form depends on the organization’s average gross receipts.

If gross receipts average $50,000 or more while being under $200,000 for the year, the organization files Form 990-EZ, Short-Form Return for Organization Exempt from Income Tax under 501(c), 527, or 4947(a)(1) of the Internal Revenue Code.

When the year’s gross receipts are more than $200,000 (or if assets are more than $500,000), Form 990 must be filed instead of Form 990-EZ. Form 990 is much more substantial than the EZ form.

If the organization does not average $50,000 in gross receipts, it may file Form 990-N, e-Postcard, which includes name, address, and EIN while checking a box that gross receipts are normally less than $50,000.

Filing the Form 990 or 990-EZ late will result in penalties of $20 per day up to $10,000 total (or $100 per day up to $50,000 total if revenues exceed $1,000,000) -- so don't be late!

There are no penalties for filing Form 990-N late, however, failure to file either the 990, 990-EZ, or 990-N for 3 years in a row will result in automatic loss of tax exempt.  The nonprofit would have to file a new Form 1023.

We specialize in Form 990 preparation.  

Call us to have your Form 990, 990-EZ, or 990-N prepared this year.