Foodshare is a nonprofit and tax-exempt organizaiton, but did you know that we still have to file a tax return?
The return for nonprofit organizations is the Form 990 and Foodshare's Audit and Finance Committees reviewed ours this morning - a total of 44 pages - in preparation for filing the return with the IRS. The Form 990 includes a variety of information about Foodshare's programs and governance, not just financial information.
Preparation of the return is part of Blum Shapiro's annual audit of Foodshare's financial statements. The volunteer Committees also saw the results of the audit this morning and learned that the auditors had provided an unqualified or "clean" opinion on the financial statements.
In addition to providing copies of our audited financial statements to various funders, Foodshare posts them on our website for all to see. The 2011 statements will be there soon!