Who must file: All nonprofit organizations that raise any amount of money must now file an IRS 990-series return. (There is no longer an exception for small organizations that raise under a specific dollar limit.) Each member organization of Parent Booster USA MUST file its own 990-series return.
What to file: The 990-series return your organization is required to file is based on your organization’s annual gross income as follows:
IRS 990N: Gross receipts of $50,000 or less
IRS 990EZ Gross receipts over $50,000 but less than $200,000
IRS 990 Gross receipts over $200,000 (or total assets are greater than $500,000)
Due date: Five (5) months and 15 days after the end of your fiscal year (i.e. May 15th if your fiscal year runs January 1-December 31).
Fiscal year: Your organization sets its own fiscal year. It is the dates on which you track your organization’s budget, such as July 1 – June 30. PBUSA submits to the IRS the year-end date you listed in your membership application to the IRS. However, the IRS does make errors when recording fiscal year ends in its database. To correct or change your organization’s fiscal year end see the instructions, Changing Your Booster Club’s Year End.
Extension: If you can’t meet the deadline and need an extension, download and file IRS Form 8868. Please note that you cannot get an extension to file IRS Form 990-N.
Penalty: Failure to timely file 990 returns for three (3) consecutive years may result in loss of your organizations 501(c)(3) tax-exempt status.
Revoked organizations: If you receive a notice from the IRS that your organization’s tax-exempt status has been revoked, you cannot file a 990-series until your exemption is reinstated. See Help for Revoked Organizations on this website.
Additional IRS 990 Resources
1. Filing instructions (including links to IRS 990 forms)
2. IRS Extension
3. PBUSA Filing Service
4. Changing your booster club's fiscal year
5. Help for revoked organizations