The three forms at a glance
The IRS scales the annual return to the size of the organization. The thresholds below come from the IRS “which forms” page and the 990-N page. Remember that gross receipts are counted before expenses.
| Form 990-N | Form 990-EZ | Form 990 | |
|---|---|---|---|
| Gross receipts | Normally $50,000 or less | Less than $200,000 | $200,000 or more |
| Total assets (end of year) | No separate test | Less than $500,000 | $500,000 or more |
| How filed | Online notice (Login.gov or ID.me) | Electronically | Electronically |
| Late penalty | None, but 3 missed years means revocation | $25 a day under the 2025 instructions (see below) | Same penalty rules |
A decision path for treasurers
- 1.Total your gross receipts for the year: dues, donations, sponsorships, concession and apparel sales, event tickets and raffle ticket sales, all before costs.
- 2.If you are at least three years old, average this year with the two before it. If you are younger, use the IRS first-year ($75,000) or two-year average ($60,000) test.
- 3.If the result is $50,000 or less, the 990-N is available. You may still choose to file a 990-EZ.
- 4.If not, check whether this year's gross receipts are under $200,000 and year-end total assets are under $500,000. If both are true, file the 990-EZ.
- 5.If either is not true, file Form 990.
When a 990-EZ needs Schedule G
Raffles are “gaming” on the 990-EZ. The 2025 instructions list raffles alongside bingo, pull tabs and casino nights. Gross income from gaming goes on line 6a.
If line 6a is more than $15,000, you complete Schedule G, Part III. Separately, if gross income plus contributions from fundraising events (a gala, golf outing or banquet) is more than $15,000, you complete Schedule G, Part II. A club with a big spring raffle and an annual golf tournament can trigger both.
Keep each raffle and each event on its own line in your books, with gross receipts and direct costs separated. That is the information Schedule G asks for, and it is very hard to rebuild in October from a single “fundraising” account.
Due dates and extensions
Form 990, 990-EZ and 990-N are all due by the 15th day of the fifth month after the year ends: May 15 for a December 31 year-end and November 15 for a June 30 year-end. A weekend or legal holiday moves the date to the next business day.
For the 990 and 990-EZ, Form 8868 requests an automatic six-month extension of time to file. Check the Form 8868 instructions for when it must be submitted, and put that date on the calendar too.
Late-filing penalties for the 990-EZ and 990
Under the 2025 Instructions for Form 990-EZ, a late return can cost the organization $25 a day, up to the lesser of $13,000 or 5% of gross receipts for the year, unless the club shows reasonable cause. Organizations with gross receipts above $1,309,500 face $130 a day, up to $65,000. The IRS can also charge a responsible person $10 a day, up to $6,500, after it sends a letter setting a deadline that is then missed.
An incomplete return can be treated as not filed. So can one that reports contributions net of fundraising expenses. That is one more reason to keep gross and net apart in the books.
- Late 990-N: no penalty, but counts toward the three-year revocation rule
- Late 990-EZ or 990: daily penalty per the instructions for that tax year
- Three consecutive years of no return: automatic revocation of exempt status
Massachusetts adds its own layer
The IRS return is only half of the annual filing for a Massachusetts public charity. Form PC goes to the Attorney General's Non-Profit Organizations/Public Charities Division 4.5 months after year-end, with a filing fee based on gross support and revenue. Charities at $25,000 or less no longer attach a federal return. Above that, a federal return goes with Form PC, and above $500,000 the AG requires statements reviewed or audited by an independent CPA.
Figures on this page were checked against the IRS and Massachusetts sources listed alongside on 28 Sep 2026. They change — confirm the current amount before relying on one.
General information for owner-led businesses, not advice for your specific situation. Tax and accounting rules change, and how they apply depends on facts particular to your business. Talk to us — or to another qualified professional — before acting on anything here.
