QUESTION  1

How often is a tax-exempt organization required to file a Form 990 Return with the IRS?

A.  Every year

B.  Every 3 years

C.  Never

QUESTION  2

When requested, tax-exempt organizations are required to provide their Form 990s to:

A.  Board members only

B.  Members only

C.  Anybody that asks

QUESTION  3

If requested, tax-exempt organizations must provide their Form 990s: 

A.  Within 10 business days

B.  Immediately 

C.  Never

QUESTION  4

The terms 'nonprofit' organization and 'tax-exempt' organization mean the same thing so they can be used interchangeably.

A.  True

B.  False

QUESTION  5

Because they donate their time and expertise as a way to give back to their community, members of boards of directors are exempt from lawsuits.

A.  True

B.  False

QUESTION  6

If a tax-exempt organization does not file its Form 990, the IRS will impose a $1,000/day fine and will audit each individual board member.

A.  True

B.  False