The Reality of Small Business Majority 990 Filings: What You Need to Know
Small businesses are the backbone of the US economy. More than 30 million small businesses contribute to the economy by creating jobs, providing goods and services, and generating tax revenue. However, when it comes to the financial reporting of small businesses, there is a lot of confusion.
The Small Business Majority is a nonprofit organization that advocates for the interests of small businesses. One of the crucial roles of this organization is to understand the finances of small businesses. In this article, we will explore the reality of Small Business Majority 990 filings and what you need to know.
What are Small Business Majority 990 Filings?
Form 990 is the tax information return that nonprofit organizations have to submit to the IRS. Small Business Majority also has to submit this form annually as part of its duty as a nonprofit organization. The 990 form is a comprehensive document that describes the financial activities, mission, and programs of the organization.
The Small Business Majority uses the 990 form to detail its financial activities, including its sources of revenue, expenses, and charitable activities. The form includes detailed information on salaries, investments, assets, and liabilities.
The Importance of Small Business Majority 990 Filings
Small Business Majority’s 990 filings provide an opportunity for small businesses to assess the financial situation of the organization. The filings provide information on how the organization uses its resources, its sources of revenue, and how it supports small businesses.
Small businesses also use the 990 filings to evaluate the effectiveness of the Small Business Majority’s programs and their impact on the community. The filings demonstrate the transparency of the organization and its commitment to transparency.
How to Access Small Business Majority 990 Filings?
Small Business Majority’s 990 filings are available on the organization’s website. You can also get the latest filings from the IRS website. It is essential to note that the 990 filings are public records, meaning that anyone can access them.
What Small Business Majority 990 Filings Reveal?
The Small Business Majority 990 filings reveal the financial activity of the organization and provide insights into how the organization distributes its resources. The filings also reveal information on the salaries of the organization’s executives, how much money the organization spends on charitable activities, and how much is spent on fundraising.
The Bottom Line
Small Business Majority 990 filings are essential resources for small businesses that want to learn about the organization and its financial activities. The filings are public records, easily accessible, and provide insights into the financial activity of the organization. Understanding the organization’s finances is critical for any small business that wants to partner with or receive support from Small Business Majority.
