Reports for Tax-exempt Organizations
If an organization has received tax-exempt status from the Internal Revenue Service, the IRS requires the organization to file the tax form 990 annually if revenues received in the year exceed $25,000, or if there are expected revenues of $10,000 or more in four consecutive years. There are some exceptions so it is important to review the IRS information. There are changes occurring in IRS regulations, so check the IRS website – www.irs.gov. Organizations with budgets under $25,000 may soon be required to file an information form with the IRS on an annual basis.
Some states require nonprofit corporations to submit a form that verifies that they have filed the necessary forms (i.e. the 990) with the IRS. Check with your Secretary of State office for more information. 
