Empowering You To Grow Community Impact

Need More Time with Form 990?
Steps to Filing an Extension

If your nonprofit isn’t ready to file its Form 990 by the deadline, don’t worry—you can request an extension for extra time. Here’s how:

1. Determine Your Filing Deadline

Form 990 is generally due on the 15th day of the 5th month after the end of your fiscal year. For nonprofits with a calendar year-end (December 31), the due date is May 15.

2. File Form 8868 for an Automatic 6-Month Extension

Form 8868 is the official IRS form used to request an extension. The IRS grants an automatic 6-month extension, meaning no explanation is needed.

3. Complete & Submit Form 8868

Download Form 8868 from the IRS website.

Fill out Part I with your nonprofit’s name, EIN, address, and tax year. Choose the correct return type (Form 990, 990-EZ, or 990-PF). If your organization owes unrelated business income tax (UBIT), you must estimate and pay it when filing for an extension.

4. Submit Form 8868 Before Your Original Due Date

E-file through the IRS Modernized e-File (MeF) system or an approved tax software provider. Mail a paper form to the IRS if necessary, but e-filing is faster.

5. Confirm Your Extension

If filed correctly, your extension is automatically approved—no need to wait for confirmation. Your new Form 990 deadline will be six months after the original due date (e.g., Nov 15 for a May 15 deadline).

Need help?

Velu can guide you through the Form 990 extension process and ensure compliance with IRS deadlines. Reach out today to keep your nonprofit on track.

With federal funding on pause, many nonprofits are facing budget shortfalls and searching for new ways to bridge the gap.

Search for Foundations

• Foundation Directory Online – A leading database to research funders, see past giving patterns, and find those who support similar organizations.

• Candid’s GuideStar – Provides financial and impact data on foundations.

• GrantWatch – Tracks upcoming funding opportunities across sectors.

Search for Corporate Giving Programs

Many corporations support nonprofits through direct funding, sponsorships, matching gifts, and in-kind donations.

• Walmart Foundation

• Bank of America Charitable Foundation

• Amazon Web Services (AWS) IMAGINE Program

• Microsoft Tech for Social Impact

• Target Foundation

• Verizon Foundation

• State Farm Good Neighbor Citizenship Grants

• Wells Fargo

Search for Private Grants

• The Chronicle of Philanthropy – Lists private grant opportunities, nonprofit funding trends, and insights into donor priorities.

• Instrumentl – A research tool that helps nonprofits identify and track private funding opportunities.

• The Open Philanthropy Project – Supports organizations tackling high-impact issues through private funding initiatives.

Service Highlight

As your nonprofit reviews its budget vs. actuals, are you seeing unexpected shortfalls? Identifying a funding gap early gives you time to adjust, strategize, and secure the resources needed to stay on track.

A Velu Fractional CFO can help your nonprofit:

✅ Analyze Budget to Actuals – Understand where your organization stands financially and why certain areas may be over or under budget.

✅ Identify Funding Gaps – Pinpoint shortfalls and develop a plan to close them without cutting essential programs.

✅ Strategize for Sustainability – Explore new revenue streams, financial forecasting, and cost-saving opportunities to keep your mission moving forward.

A Note from the CEO

This year has brought new financial challenges, from shifts in federal funding to increasing budget pressures. At Velu, we help nonprofits analyze their financial health, identify funding gaps, and build sustainable strategies so they can stay focused on their mission.

If you’re ready to take control of your nonprofit’s finances, let’s talk.

Tyler Wilcox, CPA
Founder + CEO

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