IRS Form 990's now available online
Many private school student journalists are now only a click away from learning how much their president or headmaster -- and other key employees at their school -- is paid thanks to a new, free Web site that includes the IRS Form 990 of about 100,000 American nonprofit organizations.
The IRS Form 990 is the tool that public charities use to report information about their finances and operations to the federal government. In addition to salary information, the forms also include data on a school's investments, income sources and expenses.
In addition to charities, most private schools and universities are required to file the form, as are many university foundations with ties to public or private schools.
While current law requires that the form be made available by school or foundation officials on demand, many students still report experiencing significant delays in persuading school officials to release the public documents.
The Web site is run by GuideStar, a nonprofit organization in Virginia that tracks the financial efficiency of charities.
To see if your school's Form 990 is available, click here.