Form 990 Signature BlockPosted on August 20 2013 by admin
One of the most common questions I get is “who should sign my 990?” According to the instructions:
- The return must be signed by the current president, vice president, treasurer, assistant treasurer, chief accounting officer, or other corporate officer (such as tax officer) who is authorized to sign as of the date this return is filed.”
- It is important to note that it says CURRENT officer, so you do not need to go back and find your treasurer from last year who moved to Alaska.
This can be an issue because it is important that the proper person (someone who is currently in an executive position) takes the responsibility for the information in the return. It is also important to keep in mind that regardless of who signs the return, it is ultimately the responsibility of the entire board to know what is in the return and that the information is correct. While the top management executives are potentially liable, the board of directors is legally charged with governance and cannot point to the fact that the CEO/Executive Director signed the return, so they didn’t worry about it. For this reason, we strongly suggest that a committee of the board be responsible for at least reviewing the return prior to filing, and that a copy of the return at least be provided to ALL board members for their information. I know that the majority may not actually read the return, but if you send them an electronic copy, they at least have the chance.
Katie L. Thomas, CPA
Our Not-For-Profit niche is a strong team of experienced professionals who focus their work in the not-for-profit industry. Henry & Horne has been a stable local firm in Arizona for 55 years, and the Not-For-Profit niche has a long history of working with charitable organizations and other tax exempt organizations of all kinds. Our focus is exceptional client service and building relationships with our clients to promote communication throughout the year, not just at the time of the annual audit. We highly value and are very proud to be helping those who help others.
Before posting a comment on a blog post please be aware that we do not give free advice to non-clients by email, comment response, or phone. Thank you!
- Are retail sales made by nonprofits exempt from Arizona transaction privilege tax?
- Private Foundations Need IRS Approval for Grants
- Non-Profits and Political Activities
- Functional Expense Allocation
- How to Clean Up Old, Uncleared Checks in QuickBooks
- Public Charity to a Private Foundation
- IRS Announces 2015 Mileage Rates
- IRS Form 1098-C
- Accounting Treatment of Employee Discounts for a Tax Exempt Entity
- Are you baffled by Schedule A?