Form 990 Myths That Could Cost Your Nonprofit

Busting the Biggest 990 Misconceptions

Many nonprofit leaders underestimate the power of Form 990. Here are some myths that could put your reputation—or funding—at risk.

Myth #1: “It’s just paperwork.”

Truth: Funders, watchdogs, and journalists review it carefully.

Myth #2: “No one reads it but the IRS.”

Truth: GuideStar, Charity Navigator, and donors access your 990 publicly.

Myth #3: “Numbers are all that matter.”

Truth: Narrative descriptions of your programs are equally critical.

Myth #4: “We can wait until the last minute.”

Truth: Late filings trigger penalties and damage trust.

Making Your 990 a Story, Not a Stressor

• Pair numbers with impact narratives.

• Use consistent program names across reports.

• Show transparency in fundraising costs and admin ratios.

Need a Helping Hand with Tax Compliance?

Don’t let myths undermine your mission. Accountants 4 Causes helps nonprofits file accurate, compelling 990s.