Fill 990 Schedule R 2023-2024

Hi everybody, I'm Latrina Patrick. Welcome to day 64 of our 90-day grant writing tutorial. Today, I want to talk to you about the 990 form. This is a form I've mentioned in the past couple of days in regards to trying to do your research on foundations that you want to apply for. Well, I want to back up for a second and just give you a quick overview of what that is. A form 990 is something that most tax-exempt organizations have to file with the IRS. Basically, what it does is it gives them an overview of your organization's activities over the previous year and most of all your financial information. In a nutshell, what you're trying to do here is you're trying to show them your accomplishments so that they can determine whether or not your organization is eligible to continue having a tax-exempt status. So, it's also a very useful tool in doing your research on other nonprofits because most nonprofits have to file this form. There are a couple of exemptions and that's like political organizations are exempt, also churches and religious organizations are exempt. But if you have a 501c3, you are required to do so. And also, if you have gross receipts of at least two hundred thousand dollars a year or assets worth at least five hundred thousand dollars, then you are required to file this form 990 with the IRS every year. So, I hope that this is helpful to you. If you have any questions or comments about anything that I have covered today, please leave those for me here on my YouTube channel. If you haven't already, please subscribe to the channel, that way you get immediate notification whenever I upload a new video. I also send out weekly email updates to let...