For several years, the Staten Island NFP Association has been hosting workshops, publishing articles, and informing our members about the important new changes being made to the IRS Form 990.  

For some organizations, this week is the final week to comply before potentially losing their IRS not-for-profit designation.  In short, if your organization's fiscal year runs from January to December of each year, you have until May 15th to file the Form 990.  For those organizations with fiscal years running from July to June the deadline is November 15th.

If your organization has been filing the IRS Form 990 every year, or even if your organization has filed one within the past three years, it will not be affected and is not in danger of losing its designation.  If, however, your organization has not filed an IRS Form 990 within the past three years, you may likely find out soon that the IRS has rescinded your 501(c)(3) designation.      

In addition, an important new change to the IRS regulations states that all organizations, even those with revenues of less than $25,000 per year, must file the IRS Form 990.  Organizations with revenues under this threshold can file an electronic Form 990-N, known as the "e-postcard", which contains only five questions.

A recent article from the New York Times about this issue can be read at http://www.nytimes.com/2010/04/23/us/23exempt.html?scp=1&sq=nonprofits&st=cse

Anyone with questions about this issue is strongly encouraged to contact the Association at 718.355.6228 or via email at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it to learn about how they can be sure to remain in compliance with these important regulations.