Form 990 for Not-for-Profits

As your nonprofit continues to grow, please keep in mind that once your gross receipts collected for the fiscal year exceed $200,000, you will have to complete the full form of the 990. The longer form includes a lengthier questionnaire, and requires additional detailed information on revenues and expenses by function.

Once an Organization exceeds $300,000 in gross receipts, the State of Illinois requires that it be subject to a financial audit.  Make sure your Organization is in compliance with all these requirements in order to maintain its tax-exempt status.