The difference between Form 990 and Form 990-EZ comes down primarily to eligibility and reporting depth. A tax-exempt organization generally may file Form 990-EZ only when it has both gross receipts under $200,000 and total assets under $500,000 at the end of the tax year. If gross receipts are $200,000 or more, or total assets are $500,000 or more, the organization generally must file the full Form 990.
Those thresholds provide the quick answer, but they are not the entire decision. Some organizations must file the full Form 990 regardless of size, while organizations with gross receipts normally at or below $50,000 may be eligible to submit Form 990-N instead. The right return also affects how much financial, governance, and program information your organization reports to the IRS—and how that information appears to donors, grantmakers, journalists, and the public.
Form 990 vs. 990-EZ at a Glance
| Comparison point | Form 990-EZ | Form 990 |
|---|---|---|
| Gross receipts | Less than $200,000 | $200,000 or more |
| Total assets at year-end | Less than $500,000 | $500,000 or more |
| How the tests work | Both limits must be met | Meeting either threshold generally requires the full form |
| Core structure | 6 parts | 12 parts |
| Reporting depth | Condensed financial, program, and leadership reporting | More extensive financial, governance, compensation, and program reporting |
| Schedules | A limited set may apply | A broader set may apply |
| Publicly available | Yes | Yes |
| Filing method | Electronic filing required for current returns | Electronic filing required for current returns |
| General due date | 15th day of the 5th month after year-end | 15th day of the 5th month after year-end |
Source: IRS Form 990 series filing chart
What Is Form 990?
Form 990 is the IRS’s comprehensive annual information return for many tax-exempt organizations. It reports the organization’s finances, major programs, leadership, compensation, governance practices, and compliance-related activities. The full return contains 12 parts and may require additional schedules depending on what the organization did during the year.
For many organizations, Form 990 is more than a filing obligation. With limited exceptions for certain contributor information, the return is publicly available. A donor, funder, board candidate, journalist, or watchdog organization may use it to understand how the nonprofit is governed, how it uses resources, and whether its public story aligns with its financial activity.
What Is Form 990-EZ?
Form 990-EZ is the shorter annual information return available to qualifying smaller organizations. It still requires meaningful reporting: revenue and expenses, a balance sheet, changes in net assets, program service accomplishments, information about officers and directors, and answers to compliance questions.
All Form 990-EZ filers complete Parts I through V. Section 501(c)(3) organizations and section 4947(a)(1) nonexempt charitable trusts also complete Part VI. Depending on the organization’s activities, schedules such as Schedule A, B, C, G, L, N, or O may also be required. “EZ” therefore means shorter—not optional, private, or risk-free.
The Two Financial Tests for Form 990-EZ
To use Form 990-EZ under the general size rules, an organization must satisfy both tests for the tax year:
- Gross receipts must be less than $200,000.
- Total assets at the end of the tax year must be less than $500,000.
The word “and” matters. An organization with modest annual revenue but a valuable building, endowment, or investment portfolio may exceed the asset limit and need to file the full Form 990.
What Counts as Gross Receipts?
Gross receipts generally mean the total amounts received from all sources during the organization’s annual accounting period before subtracting costs or expenses. They can include contributions, grants, program service revenue, investment income, and fundraising receipts. Gross receipts are not the same as net income.
How Are Total Assets Measured?
For this test, total assets are measured at the end of the tax year and come from the organization’s balance sheet. The test looks at assets without reducing them by liabilities. That means an organization should not compare only its cash balance or net assets to the $500,000 threshold.
What Happens at Exactly $200,000 or $500,000?
The Form 990-EZ limits are strictly “less than.” An organization with exactly $200,000 in gross receipts does not meet the receipts test. An organization with exactly $500,000 in total assets does not meet the asset test. Under the general rules, either result moves the organization to the full Form 990.
Organizations That May Need the Full Form 990 Regardless of Size
Financial thresholds are not the only factor. The IRS requires certain organizations to use the full Form 990 even when their receipts and assets fall below the standard limits. Examples include:
- Sponsoring organizations of donor-advised funds.
- Organizations that operate one or more hospital facilities.
- Nonprofit health insurance issuers described in section 501(c)(29).
- Certain controlling organizations described in section 512(b)(13).
- Central or parent organizations filing a group return for subordinate organizations.
Private foundations generally file Form 990-PF rather than Form 990 or Form 990-EZ, regardless of their revenue or asset level. Other specialized rules can apply to supporting organizations, political organizations, certain trusts, foreign organizations, and organizations claiming exemption while an application is pending. If your organization falls into a special category, do not rely on the size thresholds alone.
Where Does Form 990-N Fit?
Organizations whose annual gross receipts are normally $50,000 or less may be eligible to submit Form 990-N, commonly called the e-Postcard, instead of Form 990-EZ or Form 990. The IRS uses specific tests based on the organization’s age and receipt history to determine whether receipts are “normally” at or below that level.
An eligible small organization may choose to file Form 990-EZ or the full Form 990 voluntarily, but it must submit a complete return with all required schedules. Some organizations are not eligible for Form 990-N even at a small size, so their entity type still needs to be reviewed.
