Not-For Profits

Tax and Accounting for Not-for-Profit Organizations

 Not-for-Profit organizations are operated exclusively for tax exempt purposes as described in Section 501 c (3) of the Internal Revenue Code.  Their earnings may not benefit private shareholders or individuals.  It may not be an action organization, for example, it may not influence legislation as a substantial part of its activities and it may not participate in campaign activity for political candidates. 

Organizations described in Section 501 c (3) are commonly referred to as charitable organizations.  501 c (3) organizations, other than those testing for public safety, are eligible to receive tax-deductible contributions. 

Not-for-Profit organizations cannot be organized or operated for the benefit of private interests. 

 Federal Filing Requirements

 A not-for-profit organization must submit an Exempt Organization Business Income Tax Return (Form 990) annually to the Internal Revenue Service. 

A form 990 is very different from the more common individual tax return (Form 1040) and the corporate tax return (Form 1120) and therefore requires additional expertise to complete. 

At Hills Tax and Accounting, PC, we have the skills and experience to complete the form 990 in a manner that will impress prospective donors.  Please call us at 908-203-4744 or email us at for assistance with your IRS form 990.

After being accepted by the IRS, the Form 990 is open to public inspection at the Internal Revenue Service.  Any inspection may be made at such times and in such manner as the IRS shall prescribe. 

 Some members of the public rely on Form 990 as a source of information about particular Not-for-Profit organizations.   

 New Jersey State Filing Requirements

 Not-for-profit organizations must also file an annual report with the State of New Jersey. 

Henry Brasch, CPA of Hills Tax and Accounting, PC is experienced in all required filings for Not-for-Profit organizations.  Contact Henry Brasch at 908-203-4744 or send an email to

We are ready to prepare all required filings for your Not-for-Profit to meet Federal and State requirements and impress prospective donors.