Those organizations that are exempt from federal taxes must file what is known as an information return with the IRS. Most organizations that are entitled to tax exemptions must file a Form 990 with the IRS. This form, which is about 20 pages long including schedules, requires an exempt entity to report on items of revenue, including a balance sheet. The form also asks the organization questions about the organization’s operation, mostly relating to issues dealing with the organizations tax-exempt status. The public is entitled to inspect this form.
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