IRS Form 990

Do most HOA's file this?

How about 1023? We file an 1120-H, so I suspect these other forms don't apply to us, but I'm not a tax guy and our PMC is clueless, so I am hope someone here can help out.

Are most HOA's 501(c)(3)?

IRS Form 990 is for tax-exempt organizations. An HOA is not a tax-exempt organization. They are typically a 501c(4) non-profit (vs. a 501c(3) organization - which is tax-exempt).

Corporations file an IRS Form 1120. This form typically takes a tax professional to fill out properly. Fortunately, the IRS created form 1120-H for homeowners and condominium Assocaitions. This form is easy to fill out and typically exempts all income from assessments. A great deal for HOAs.

IRS Form 1123 is to apply for tax-exempt status (i.e. a charitable organization). This is not typical for HOAs/COAs. I would recommend consulting a tax attorney if you think you qualify as a 501c(3) organization prior to filing.

So the short answer is that most HOAs/COAs file form 1120-H for their federal taxes.

Probably few to none. Donations to a (c)(3) are tax-deductible - great boon for members. Donations to (c)(4) are not tax-deductible. (c)(4) are social welfare organization which some HOAs can fit under. Of the HOAs that are 501s, all to most are probably (c)(4)s.