All tax-exempt organizations (except for churches and certain church-affiliated organizations) must file an annual return with the IRS. Most 501c3 Tax exempt organizations are required to file IRS Form 990 every year to stay in compliance with the IRS. Depending on the organization previous fiscal year revenue, and if the organization is classified as a Private foundation or a Charity, determines which form is to be filed with the IRS. Larger organizations must file IRS Form 990EZ or IRS Form 990. Private Foundations are required to file IRS Form 990-PF. Most small tax-exempt organizations whose annual gross receipts are normally $50,000 or less can satisfy their annual reporting requirement by electronically submitting Form 990-N if they choose not to file Form 990 or Form 990-EZ instead. Staying in compliance with the IRS is extremely important. The result of failing to file required forms for three consecutive years will lead to losing tax-exempt status. Reinstating 501c3 status is a lengthy and expensive process.
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