What does a governing body mean? How should an organization report them on Form 990?
2.2k views | Last modified 6/8/2020 7:42:53 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

The governing body is a group of one or more individual who is authorized under the state law to make decisions on behalf of the organization and its shareholders.

For example, In a corporation, the board of directors is considered as a governing body; In the case of a Trust, the board of trustees is the governing body.

The organization must report the count of all the members with voting rights while filing their annual information return. The count of the members must be done and reported at the end of the organization's tax year.

Here's how to report every governing body members with voting rights while filing Form 990 in ExpressTaxExempt:

  1. Log into your ExpressTaxExempt account.
  2. On the dashboard, click on the "Start New Return" button.
  3. Select the "Tax Year" and "Form 990" option on the list of Federal Return.
  4. Enter your organization details and click "Next."
  5. In the "Organization Tax Year" page, select the tax year calendar or fiscal, for which you want to file the information return. Once done, the subsequent steps will be to fill the actual parts of the form.
  6. Under the Governance, Management, and Disclosure section, click "Start" in Voting Members & Relationship.
  7. Enter the number of voting members of the governing body at the end of the tax year.
  8. Click Next and follow the subsequent steps as prompted.
  9. Review the details, Pay, and click the Transmit button to transmit your return to the IRS.

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