Basic Reporting Requirements for Nonprofits

NOTE: These are the reporting requirements that apply to most nonprofits; your organization may have additional reporting requirements based on the type of work done.

1. Internal Revenue Services (IRS)

All 501(c)(3) nonprofits need to file IRS Form 990. The Form 990 is due by the 15th day of the fifth month following the end of the organization’s fiscal year. See IRS due dates for exempt organizations.

• Form 990 N: Gross receipts < $50,000 

• Form 990 EZ: Gross receipts < $200,000 and assets < $500,000

• Form 990: Gross receipts > $200,000 and assets > $500,000

  Resources:

  • Understanding 990 Filing Requirements as You Prepare for Filing, Tax990

  • The Most Common (and Costly) Form 990 Mistakes Nonprofits Make—and How to Avoid Them, Tax990

2. New Mexico Department of Justice (Attorney General's office)

All 501(c)(3) nonprofits must file an annual report on NM-COROS. Reports are due within six months following the end of the organization’s fiscal year.

3. New Mexico Secretary of State

New Mexico nonprofit corporations must file an Annual Report with the NM Secretary of State. The report is due by the 15th day of the fourth month following the end of the organization’s fiscal year.

4. State audit requirement

Current audit threshold in New Mexico is $750,000