The University is considered an exempt 501(c) (3) organization that is required to file form 990. Form 990 is an informational tax form that most tax-exempt organizations must file annually. The purpose of the form is to give the IRS an overview of the organization’s activities, governance, and detailed financial information.
Form 990 also includes a section for the organization to outline its accomplishments to justify maintaining its tax-exempt status. In collecting this information, the IRS wants to ensure that organizations continue to qualify for tax exemption after the status is granted.
To obtain a copy of the University’s Form 990, email Kate Carangi at Carangi@upenn.edu.