What is the purpose of the IRS Form 990?

The purpose of IRS Form 990 is to provide comprehensive information about a tax-exempt organization's financial activities, governance, and programs to both the IRS and the general public. This form is crucial as it helps ensure transparency and accountability among non-profit organizations, which can receive tax-exempt status based on their adherence to specific regulations and public benefit missions. By detailing the organization's programs, financial performance, and overall operations, Form 990 serves as a tool for stakeholders—including donors, regulators, and the community—to assess the effectiveness and management of these entities.

While the other options address various components of financial reporting and disclosure, they do not encapsulate the primary intent of Form 990, which is centered on providing a complete view of tax-exempt organizations to promote public trust and compliance with tax laws.