Glossary & Tools
Quick-reference for the agencies, taxes, and accounting terms that come up daily.
Variance report comparing actual results to the approved budget — by program or funder.
Free federal system used to deposit payroll, excise, and other federal taxes.
Federal tax ID issued by the IRS to identify your organization.
Social Security + Medicare payroll taxes (employee and employer share).
Federal unemployment tax reported on Form 940 each January.
Federal tax agency. Enforces Form 990, 941, 940, and tax-exempt status.
Michigan department where nonprofit annual reports and corporate filings are made.
Portal for UIA quarterly wage reporting and unemployment tax payments.
Portal used to file MI Forms 5080, 5081, and other state tax returns.
List of schedules and documents auditors expect you to prepare in advance of fieldwork.
Nonprofit equivalent of a balance sheet. Shows assets, liabilities, and net assets.
Nonprofit equivalent of an income statement. Shows revenue and expenses by net asset class.
Receives W-2 / W-3 wage transmittals each January.
Tax on income from a trade or business not substantially related to your exempt purpose. Reported on Form 990-T.
Federal rules governing administrative requirements, cost principles, and audits for federal awards.
Michigan agency for UI tax and quarterly wage reports (filed via MiWAM).
Which 990?
Enter your organization's totals to see which annual return applies.