From GUIDESTAR: Info on new 990s

Found this interesting, especially since 990s get used so heavily in making the case for future funding... - M

From the President's Office

Dear Friend:

We're just starting to see the new and expanded IRS Forms 990 for 2008 trickling in to GuideStar. As of the end of August, we have about 30,000 now available on our free Web site.

We expect new 990s will come in at a slower pace than usual this year. We are hearing frequent reports from auditing firms and nonprofit organizations that this first-year effort at completing the new Form 990 has been difficult, very expensive, and time-consuming for most. It also appears likely that more nonprofits than usual will be requesting extensions this year in order to have more time to work through the details.

As you know, GuideStar's position on the Form 990 has evolved over the years. We like the 990 because all organizations of a certain size are required to file it—under penalty of law–and it is a public document. That helps promote transparency and accountability and gives the general public a chance to learn about nonprofit practice. But we also find some 990 data inaccurate or hard to understand, not timely, and not always as comprehensive as we would like. ... Read more >