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).
More Info About 990’s that you probably already know or don’t need to know
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)
