Annual Reports
The federal annual information returns and application for tax-exempt status are not substitutes for an annual report or an accounting audit, as they were primarily devised only to aid the IRS in determining if an organization qualifies for tax exemption. Nevertheless, these documents serve as valuable resources for members of the public who wish to examine a nonprofit organization's financial and operational activities, by demanding a relatively consistent structure to the presentation of certain critical information, and by instituting a legal requirement for accurate financial data that is publicly available. A fairly clear picture of an organization's finances and operations should be rendered by its IRS returns and application for exempt status together with an annual report and the financial statements usually accompanying it. The Africa Teach Foundation is in the process of completing its 501(c)(3) status and will regularly publish its annual tax returns, audited annual financials, and annual reports as downloads at this website. The Africa Teach Foundation is a New York state registered nonprofit corporation with offices in New York, New Jersey, and California.
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Federal law requires most tax-exempt nonprofit organizations to allow public inspection of their most recent federal annual information returns (i.e. IRS Form 990 and Form 990 Schedule A) and their application for tax-exempt status (i.e. IRS Form 1023 or 1024), along with other associated materials, including annual audited financials. Tax-exempt organizations are further required to make easily available to the public many details of their finances and operations that may not be included in their regular annual reports.