When you hear “IRS Form 990,” what do you think about? Things like financial reporting, audits, and compliance, right?
Let me ask another question: How often do you read your organization’s Form 990? You probably only review the form before sending it off to the IRS or when a funder requests it.
If you’re only using Form 990 for financial reporting, you’re missing out on its full potential.
Form 990 is More Than Just a Compliance Document
Benchmark Salaries and Expenses Form 990 helps you determine if your executive director’s salary is competitive with the market rate and if your expenses align with similar organizations. This can be crucial for financial health and staff retention. Funders are particularly interested in how much money goes into programming as opposed to administrative costs.
Showcase Achievements and Community Impact Use Form 990 to highlight your organization’s accomplishments and the positive impact you have on your community. This transparency builds trust with donors and community stakeholders.
Strategic Decision-Making Evaluate funding decisions and select potential partners using the insights from Form 990. This strategic use of data can strengthen your partnerships and build capacity..
Join Us For A 990 Deep Dive
We’re excited to announce a series of livestreams dedicated to exploring the many uses of IRS Form 990. Over the next few weeks, we’ll dive deep into how you can leverage this form to enhance your organization’s operations and impact.
Stay tuned and check out our lineup of upcoming livestreams below.
| July 22, 2024 9:00 AM – 11:00 AM When Your Form 990 Talks About You Behind Your Back |
| July 29, 2024 9:00 AM – 11:00 AM Using Form 990 As A Marketing Tool |
| August 5, 2024 9:00 AM – 11:00 AM Using Form 990 to Uncover Ethical Issues |
| Augut 12, 2024 9:00 AM – 11:00 AM Using Form 990 For Performance Management |
We will be livestreaming from the Nonprofit YouTube channel, LinkedIn, Facebook, Twitter and Twitch. Be sure to mark your calendars, and like and subscribe to our YouTube channel.
About the Author
Valerie F. Leonard is the founder of Nonprofit Utopia, LLC, the ideal community for leaders who want to start, manage and scale nonprofits. She has more than 20 years’ experience starting, managing and growing nonprofits as a financial analyst for a major hospital medical system, a founding executive director of a neighborhood grant making organization and consultant. Read more here.
