December 11, 2008 | Read Time: 1 minute
The number of charitable organizations that filed federal informational tax returns rose from 276,199 in 2004 to 286,615 in 2005, an increase of 3.8 percent, according to a newly released report from the Internal Revenue Service. The returns include information about charity finances, activities, and compensation of top officials.
Charitable groups reported $1.25-trillion in revenue, 8.7 percent more than the $1.15-trillion in 2004.
The nonprofit organizations held more than $2.2-trillion in assets, an increase of 9 percent compared with 2004, while their liabilities increased 6.2 percent, to $830-billion.
Another 520,806 nonprofit groups did not file either the Form 990 or Form 990-EZ, including churches and other religious organizations and those with gross receipts less than $25,000.
The statistics also do not include tax-exempt private foundations, which are required to file a Form 990-PF.
The new information is published in the IRS’s Statistics of Income Bulletin for the fall of 2008 and is available online.
