Understanding a nonprofit’s 990 can be more confusing than solving a repainted rubix cube that you kid used as an art project (don’t ask). This GPT can help analyze a 990 once you upload it and press SEND.
You can also ask for other insights.
We think CauseIQ.com is a great place to find 990s (feel free to check them out, AI can wait).
Wait, why do 990s matter?
A 990 is a nonprofit’s money report card. Every year, they have to show how much money they got, how they spent it, and if they kept their promises. It’s like homework for charities — and if they skip it, they can get in big trouble!
- Most nonprofits that are officially registered as 501(c)(3) organizations (charities, schools, museums, etc.) must file a 990 every year with the IRS.
- Big nonprofits (those making over $200,000 a year or with over $500,000 in assets) file the full Form 990.
- Medium-sized nonprofits (making between $50,000 and $200,000) can usually file a shorter version called Form 990-EZ.
- Small nonprofits (making less than $50,000) just file a super simple version called Form 990-N (sometimes called an “e-Postcard”).
- Private foundations always file a special version called Form 990-PF.
Interesting Stuff you can learn from 990s
Revenue: How much money the nonprofit raised (AKA Money In)
Expenses: Where the money went (AKA Money Out)
Executive Salaries: How much the top leaders are paid (AKA Top Paychecks)
Mission and Programs: What the nonprofit says it’s trying to accomplish (AKA Big Goals)
Major Donors or Partners: Sometimes you can see who gave big gifts (AKA Major Gifts)
Financial Health: Whether they’re growing or sinking financially (AKA Profit or Loss)
Governance: Who’s on the board and how they operate (AKA Who’s in Charge)
Transparency: How open and responsible they are with money (AKA Trust Factor)
