The Charity CFO prepares Form 990s, 1099-NECs, sales tax filings, and UBIT documentation for nonprofits across the country, built on the clean monthly books we maintain for you all year long.
Tax preparation isn’t a single deliverable. It’s a set of filings, schedules, and supporting records that all have to line up, with each other and with the rest of your financial reporting. Here’s what The Charity CFO handles.
About 85% of our clients undergo an annual audit or financial review with an external CPA firm. The Charity CFO doesn’t replace that relationship; we make it work better.
Here’s what that looks like in practice. Your auditor or outside CPA needs clean, well-organized, audit-ready financials to complete your Form 990 efficiently. When those records arrive incomplete or inconsistent, the engagement drags on, fees climb, and the 990 ends up reflecting whatever the auditor could piece together rather than the full picture of your organization. We’ve seen what that costs nonprofits, both in dollars and in board confidence. When The Charity CFO handles your bookkeeping and accounting, your CPA receives:
Most tax deadlines are tied to your fiscal year-end, not the calendar. Here are the dates that matter most for your nonprofit tax preparation:
Missing a 990 deadline costs $25 per day for smaller organizations (up to the lesser of $13,000 or 5% of gross receipts) and $130 per day for larger organizations with gross receipts over $1,309,500 (up to $65,000). Three consecutive missed years result in automatic revocation of tax-exempt status, and reinstatement is neither fast nor cheap. The Charity CFO makes sure your nonprofit tax preparation is in place.
Do nonprofits have to file a tax return?
Yes. Most tax-exempt nonprofits must file an annual information return with the IRS (Form 990, 990-EZ, or 990-N). Failure to file for three consecutive years results in automatic revocation of tax-exempt status.
What is the deadline for filing Form 990?
The Form 990 is due on the 15th day of the 5th month following the close of your fiscal year. For organizations with a December 31 year-end, the deadline is May 15. A 6-month extension is available by filing Form 8868.
What happens if a nonprofit files a 990 late?
Late filing results in a penalty of $25 per day, up to the lesser of $13,000 or 5% of gross receipts. For large organizations with gross receipts over $1,309,500, the penalty is $130 per day up to $65,000. . Three consecutive missed filings result in automatic revocation of tax-exempt status.
What is the difference between Form 990 and Form 990-EZ?
Form 990-EZ is a shorter version for organizations with gross receipts under $200,000 and total assets under $500,000. The full Form 990 is required for larger organizations. Organizations with gross receipts under $50,000 may file the 990-N e-Postcard instead.
What is UBIT and does my nonprofit owe it?
Unrelated Business Income Tax (UBIT) applies to income earned from activities not substantially related to your nonprofit’s exempt purpose, such as advertising revenue, certain rental income, or a gift shop. If your organization has such income, you may need to file Form 990-T.
Do I need a CPA to file our nonprofit’s 990?
Not necessarily. A CPA can prepare and sign the 990, but so can other qualified tax professionals. The Charity CFO to prepare audit-ready financial statements that their CPA then uses to complete the nonprofit 990 filing efficiently.
Do nonprofits pay sales tax?
It depends on the state. Most states grant sales tax exemptions to qualified nonprofits, but the application process and scope of exemption varies significantly. Some states exempt all purchases; others only exempt specific categories. The Charity CFO helps clients understand and manage their state-specific obligations.
