09/10/2026
For some nonprofit leaders, your fiscal year just closed. Whether your fiscal year ends June 30th or at a different point in time, we wanted to share a little reminder that your nonprofit’s Form 990 is more than a tax filing. It is a public snapshot of your mission, finances, leadership, compensation, and governance.
Given this, a governing board needs to review it before filing. The IRS does not require board approval, but Form 990 asks whether the completed return was provided to the governing body and requires organizations to describe their review process. The IRS also identifies board review as a good governance practice. Your 990 can also be a great onboarding and education tool for newer board members. It is an opportunity to talk about how the organization ensures equity in executive compensation decisions, how it manages conflicts of interest, and so much more.
A board review can help:
• Catch errors or unclear language
• Confirm the return accurately reflects the organization
• Strengthen financial oversight
• Prepare board members for donor or community questions
• Reinforce shared accountability
One important deadline note: calendar-year organizations are generally due May 15. November 15 is typically the extended deadline when a six-month extension has been filed. The full schedule by various fiscal years is here.
Build the review into your governance calendar now and consider how it can serve as an ongoing educational tool. Your board should understand what the organization is telling the public.