The Illinois AG990 form is an annual report required for charitable organizations operating in Illinois. This form provides essential financial information, including revenue, expenditures, and organizational details, to ensure transparency and compliance with state regulations. Completing this report accurately is crucial for maintaining your organization’s good standing.
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The Illinois AG990 form is a crucial document for charitable organizations operating within the state. It serves as an annual report that provides a comprehensive overview of an organization’s financial activities and compliance with state regulations. This form requires organizations to detail their revenue sources, including public support, government grants, and other income, as well as their expenditures on charitable programs, management, and fundraising. Additionally, the AG990 form seeks transparency by requesting information on the compensation of top personnel and any involvement with professional fundraisers. Organizations must also disclose any legal issues or conflicts of interest that may have arisen during the reporting period. Timely submission of this form is essential, as late filings incur penalties, emphasizing the importance of adherence to deadlines. By completing the AG990 form accurately, organizations not only fulfill their legal obligations but also reinforce their commitment to accountability and transparency in their charitable missions.
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Understanding the Illinois Ag990 form is crucial for organizations operating in the state. However, several misconceptions can lead to confusion and potential issues. Here are six common misconceptions about the Illinois Ag990 form, along with explanations to clarify them:
This is not true. All charitable organizations, regardless of size, must file the Ag990 form if they are registered in Illinois. Smaller organizations may have simpler reporting requirements, but they are still obligated to submit this form.
Filing the Ag990 form is mandatory for registered charities in Illinois. Failing to file can result in penalties, including a $100 late fee. It is essential to meet the filing deadline to maintain compliance.
While both forms serve similar purposes, they are not identical. The Ag990 form is specifically tailored for Illinois charities and includes state-specific questions and requirements. Organizations must complete both forms if applicable.
In addition to financial data, the Ag990 form requires organizations to provide information about their programs, governance, and any legal issues they may have faced. A comprehensive report is necessary to ensure transparency.
This is incorrect. Organizations must attach required documents, such as the IRS return and audited financial statements, when submitting the Ag990 form. Incomplete submissions can lead to delays and penalties.
Late filing penalties can accumulate quickly. A $100 fee applies for late submissions, and continued non-compliance can lead to more severe consequences, including potential loss of registration. Timely filing is crucial.
Addressing these misconceptions can help organizations navigate the filing process more effectively. Ensuring compliance with the Illinois Ag990 form is essential for maintaining good standing and supporting the charitable mission.
For Office Use Only
PMT #
AMT
INIT
ILLINOIS CHARITABLE ORGANIZATION ANNUAL REPORT
Form AG990-IL
Revised 1/19
Attorney General KWAME RAOUL State of Illinois
Charitable Trust Bureau, 100 West Randolph
11TH Floor, Chicago, Illinois 60601
CO #
Report for the Fiscal Period:
Check all items attached:
Copy of IRS Return
Audited Financial Statements
Beginning
/
Make Checks
Payable to
Copy of Form IFC
the Illinois
$15.00 Annual Report Filing Fee
& Ending
Charity
Bureau Fund
$100.00 Late Report Filing Fee
Federal ID #
MO
DAY
YR
Date Organization was created:
Are contributions to the organization tax deductible?
Yes
No
LEGAL
Year-end
amounts
NAME
A) ASSETS
A) $
MAIL
ADDRESS
B) LIABILITIES
B) $
CITY, STATE
C) NET ASSETS
C) $
ZIP CODE
I. SUMMARY OF ALL REVENUE ITEMS DURING THE YEAR:
PERCENTAGE
AMOUNT
D) PUBLIC SUPPORT, CONTRIBUTIONS & PROGRAM SERVICE REV. (GROSS AMTS.)
%
D) $
E) GOVERNMENT GRANTS & MEMBERSHIP DUES
E) $
F) OTHER REVENUES
F) $
G) TOTAL REVENUE, INCOME AND CONTRIBUTIONS RECEIVED (ADD D,E, & F)
100%
G) $
0
II. SUMMARY OF ALL EXPENDITURES DURING THE YEAR:
H) OPERATING CHARITABLE PROGRAM EXPENSE
H) $
I) EDUCATION PROGRAM SERVICE EXPENSE
I) $
J) TOTAL CHARITABLE PROGRAM SERVICE EXPENSE (ADD H & I)
J) $
J1) JOINT COSTS ALLOCATED TO PROGRAM SERVICES (INCLUDED IN J):
$
K) GRANTS TO OTHER CHARITABLE ORGANIZATIONS
K) $
L) TOTAL CHARITABLE PROGRAM SERVICE EXPENDITURE (ADD J & K)
L) $
M) MANAGEMENT AND GENERAL EXPENSE
M) $
N) FUNDRAISING EXPENSE
N) $
O) TOTAL EXPENDITURES THIS PERIOD (ADD L, M, & N)
100 %
O) $
III. SUMMARY OF ALL PAID FUNDRAISER AND CONSULTANT ACTIVITIES:
(Attach Attorney General Report of Individual Fundraising Campaign- Form IFC. One for each PFR.)
PROFESSIONAL FUNDRAISERS:
P) TOTAL AMOUNT RAISED BY PAID PROFESSIONAL FUNDRAISERS
P) $
Q) TOTAL FUNDRAISERS FEES AND EXPENSES
Q) $
R) NET RECEIVED BY THE CHARITY (P MINUS Q=R)
R) $
PROFESSIONAL FUNDRAISING CONSULTANTS:
S) $
S) TOTAL AMOUNT PAID TO PROFESSIONAL FUNDRAISING CONSULTANTS
IV. COMPENSATION TO THE (3) HIGHEST PAID PERSONS DURING THE YEAR:
T) $
T) NAME, TITLE:
U) NAME, TITLE:
U) $
V) NAME, TITLE:
V) $
V. CHARITABLE PROGRAM DESCRIPTION:CHARITABLE PROGRAM (3 HIGHEST BY $ EXPENDED) CODE CATEGORIES
List on back side of instructions
CODE
W) DESCRIPTION:
W) #
X) DESCRIPTION:
X) #
Y) DESCRIPTION:
Y) #
IF THE ANSWER TO ANY OF THE FOLLOWING IS YES, ATTACH A DETAILED EXPLANATION:
YES NO
1. WAS THE ORGANIZATION THE SUBJECT OF ANY COURT ACTION, FINE, PENALTY OR JUDGMENT?
1.
2.HAS THE ORGANIZATION OR A CURRENT DIRECTOR, TRUSTEE, OFFICER OR EMPLOYEE THEREOF, EVER BEEN CONVICTED BY ANY COURT OF ANY MISDEMEANOR INVOLVING THE MISUSE OR
MISAPPROPRIATION OF FUNDS OR ANY FELONY?
2
3.DID THE ORGANIZATION MAKE A GRANT AWARD OR CONTRIBTION TO ANY ORGANIZATION IN WHICH ANY OF ITS OFFICERS, DIRECTORS OR TRUSTEES OWNS AN INTEREST; OR WAS IT A PARTY TO ANY TRANSACTION IN WHICH ANY OF ITS OFFICERS, DIRECTORS OR TRUSTEES HAS A MATERIAL FINANCIAL INTEREST; OR DID
ANY OFFICER, DIRECTOR OR TRUSTEE RECEIVE ANYTHING OF VALUE NOT REPORTED AS COMPENSATION?
3.
4. HAS THE ORGANIZATION INVESTED IN ANY CORPORATE STOCK IN WHICH ANY OFFICER, DIRECTOR OR
TRUSTEE OWNS MORE THAN 10% OF THE OUTSTANDING SHARES?
4.
5.IS ANY PROPERTY OF THE ORGANIZATION HELD IN THE NAME OF OR COMMINGLED WITH THE
PROPERTY OF ANY OTHER PERSON OR ORGANIZATION?
5.
6. DID THE ORGANIZATION USE THE SERVICES OF A PROFESSIONAL FUNDRAISER?
( ATTACH FORM IFC )
6.
7a. DID THE ORGANIZATION ALLOCATE THE COST OF ANY SOLICITATION, MAILING, ADVERTISEMENT OR
LITERATURE COSTS BETWEEN PROGRAM SERVICE AND FUNDRAISING EXPENSES?
7.
7b. IF "YES", ENTER (i) THE AGGREGATE AMOUNT OF THESE JOINT COSTS $
;(ii) THE AMOUNT
ALLOCATED TO PROGRAM SERVICES $
; (iii) THE AMOUNT ALLOCATED TO MANAGEMENT
AND GENERAL $
;AND (iv) THE AMOUNT ALLOCATED TO FUNDRAISING $
8. DID THE ORGANIZATION EXPEND ITS RESTRICTED FUNDS FOR PURPOSES OTHER THAN RESTRICTED
PURPOSES?
8.
9. HAS THE ORGANIZATION EVER BEEN REFUSED REGISTRATION OR HAD ITS REGISTRATION OR TAX EXEMPTION
SUSPENDED OR REVOKED BY ANY GOVERNMENTAL AGENCY?
9.
10. WAS THERE OR DO YOU HAVE ANY KNOWLEDGE OF ANY KICKBACK, BRIBE, OR ANY THEFT, DEFALCATION,
MISAPPROPRIATION, COMMINGLING OR MISUSE OF ORGANIZATIONAL FUNDS?
10.
11.LIST THE NAME AND ADDRESS OF THE FINANCIAL INSTITUTIONS WHERE THE ORGANIZATION MAINTAINS ITS THREE LARGEST ACCOUNTS:
12.NAME AND TELEPHONE NUMBER OF CONTACT PERSON:
ALL ATTACHMENTS MUST ACCOMPANY THIS REPORT - SEE INSTRUCTIONS
UNDER PENALTY OF PERJURY, I (WE) THE UNDERSIGNED DECLARE AND CERTIFY THAT I (WE) HAVE EXAMINED THIS ANNUAL REPORT AND THE ATTACHED DOCUMENTS, INCLUDING ALL THE SCHEDULES AND STATEMENTS, AND THE FACTS THEREIN STATED ARE TRUE AND COMPLETE AND FILED WITH THE ILLINOIS ATTORNEY GENERAL FOR THE PURPOSE OF HAVING THE PEOPLE OF THE STATE OF ILLINOIS RELY THEREUPON. I HEREBY FURTHER AUTHORIZE AND AGREE TO SUBMIT MYSELF AND THE REGISTRANT HEREBY TO THE JURISDICTION OF THE STATE OF ILLINOIS.
BE SURE TO INCLUDE ALL FEES DUE:
1.)REPORTS ARE DUE WITHIN SIX MONTHS OF YOUR FISCAL YEAR END.
2.)FOR FEES DUE SEE INSTRUCTIONS.
3.)REPORTS THAT ARE LATE OR INCOMPLETE ARE SUBJECT TO A $100.00 PENALTY.
PRESIDENT or TRUSTEE (PRINT NAME)
SIGNATURE
DATE
TREASURER or TRUSTEE (PRINT NAME)
PREPARER (PRINT NAME)
When filling out the Illinois Ag990 form, there are important guidelines to follow. Here’s a list of things you should and shouldn't do:
Completing the Illinois AG990 form requires careful attention to detail. This form is essential for charitable organizations in Illinois to report their financial activities annually. Follow these steps to ensure accurate completion.