By now, many nonprofit organizations have had the joy (or pain) of completing the 2008 Form 990, which many nonprofits are required to complete annually. The Form is designed to enhance transparency for the Internal Revenue Service and the public and underwent the first major change in the document since 1979. Those who have implemented the Standards for Excellence®, particularly those organizations that have earned the Seal of Excellence, have told us that they are having no problem answering the new long list of questions about whether they possess a variety of policies in areas like governance, finance, and fundraising. The breadth of recommendations in the Standards for Excellence: an Ethics and Accountability Code for the Nonprofit Sector®, covers the areas that the IRS is interested in and much more.
Did you know? The Standards for Excellence® Educational Resource packet, “IRS Form 990 Governance and Management Policy Compendium” is a “one-stop” point for some of the most requested policies addressed in the 2008 IRS Form 990. This packet is a collection of the policies nonprofits should consider adopting if they wish to be able to answer Form 990 questions regarding governance, management, fundraising, and disclosure in the affirmative. The packet is free to Standards for Excellence Institute® members through the members only section of our website. Hard copies are also available upon request. Log in to access this educational resource packet. Not a member? Join now!