By Nik Honeysett

Taking a leaf out of the UK's Sun newspaper, internationally regarded as the lowest form of pond life when it comes to sensationalising a story, I had to liven up the title for this post with some innuendo because I'm going to talk about tax returns - but stay with me.

A couple of years ago the IRS ushered in some significant changes in their tax-return requirement for non-profits. If you're an organisation with gross revenue in excess of $200K, you need to complete and submit a form 990 - Return of Organization Exempt from Income Tax. If you're an organisation with gross revenue of less than this but more than $25K, you need to fill in its companion form, the 990EZ - an oxymoron if there ever was one. The 990 is not just about reporting financial information, the form requires excruciating detail on issues of compliance, governance, people and activities - but that's reasonable because in return, you get tax exemption...

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