Thank you for that information. We recently had a member of our non profit ask for financing info and they were ignored. I was recently asked to join the board and I am also asking for all finance information. The person who originally asked for the info has quit the org. I must say I agreed with her and wanted to see the finances also. With my request, they agreed immediately to show all. We will be picking a day this coming week for me to review all. My next question, as a board member. If this person who quit the org, will I be monetarily responsible for any fines incurred if she has pursued this?
@NonprofitTaxHelp2 жыл бұрын
Members and directors do have a right to ask to see the organization's financial records. A director in particular generally needs access to the financial reports in order to do his/her job as director. I don't know that there are any fines that can be imposed for failing to provide copies of financial reports--that is probably a state law matter. However, failure to provide a copy of a 990-EZ, 990, 990-PF carries fines from the IRS of $20 per day, limited to $10,500 per return, plus there is an additional penalty of $5,000 if the refusal to provide a copy is willful. The director who knowingly refused to provide a copy of the tax return is personally liable for those fines. Since you are not refusing such a request, you would not be liable. IRC section 6104(d) and the underlying regulations covers the public disclosure rules. Form 990 returns must be made available for public inspection for three years from the due date or the date filed, whichever is later. You might want to discuss having the organization purchase a Directors and Officers insurance policy to provide some protection. Here is an article you might be interested in: www.nonprofitissues.com/to-the-point/does-do-insurance-protect-nonprofit-organization
@pickyourswitchoriginal2 жыл бұрын
Guidestar makes you pay for 990s. You have to upgrade, it's not free.
@NonprofitTaxHelp2 жыл бұрын
I have a free account on Guidestar (now rebranded as Candid) and I just logged in and was able to access the 990s of one of my clients. The free login allows you to see basic info and 3 years of 990s. If you want more info, you have to pay.
@NonprofitTaxHelp2 жыл бұрын
From the Guidestar website: "A GuideStar account gives you FREE access to even more nonprofit information, including: Organization’s full address and contact information Up to three years of Forms 990 Revenue and expense data for the current fiscal year CEO, Board Chair, and Board of Directors information" 3 years of 990 info has always been free, but they do force you to sign up for a free account so they can track your visits and data-mine your web activity.