Monday, February 11, 2013

Contributions to Latin non-profit arts group grow in Miami despite the bad economy (IV)

All the financial information was reported by these groups to the Internal Revenue Service in yearly statements known as 990 forms.

990 form for Teatro Avante:

Non-profits are required to file the 990 forms every year if they have an annual income of $25,000 or more. Failure to file the statements for three consecutive years may result in the revocation of their tax-exempt status and other penalties, according to IRS regulations. The 990s become public record once they are filed, and are accessible to private individuals as well as the media. (Continues in next post)

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