Compliance Alert Form 990 Now Requires Governance, Management and Disclosure Information


In May 2009, IRS Form 990, which is required to be filed by all not-for-profit (NFP) organizations was changed. IRS Form 990 now includes Part VI which addresses “Governance, Management and Disclosure.” While no provision of the IRS Code gives the IRS oversight over NFP governance, the IRS is convinced that good corporate governance is a keystone in ensuring that an organization lives up to its mission and tax-exempt status. In comments made at Georgetown University on June 23, 2009, Sarah Hall Ingram, the then former IRS Commissioner for Tax Exempt and Government Services, said...

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