The revised Form 990 to be utilized by tax-exempt organizations beginning in 2009 has been significantly revamped from the current form to generate more information about the size and scope of the tax-exempt sector. 

We previously summarized some of the major changes that will probably require many nonprofit boards to adopt new governance policies so that they can look good on the Form.  (See Ready Reference Page: “New Form 990 Will Greatly Expand Reporting Requirements for Nonprofits.”)  We will now begin to discuss some of the specific questions and the import for reporting agencies.