What do you know about Form 990? Board review can benefit nonprofit governance

Description

Abstract: Most board members know — or should know — that the nonprofit organization they serve files an annual Form 990 information return with the IRS. But not every board member knows that they can, and should, review the form before it’s submitted. This article explains why such board reviews are important and how to make them effective. A short sidebar looks at the excess benefit transaction risks involved with Form 990.