Mastering Nonprofit Research: How to Find and Analyze Form 990 for Funding Insights

Introduction

Form 990 is a critical document that provides transparency into a nonprofit’s financial health, governance, and mission impact. It’s not just a tax filing—it’s a powerful research tool used by grant seekers, donors, and nonprofit leaders to evaluate funding opportunities and partnerships.

This guide explores how to find and analyze Form 990s, using platforms like Instrumentl to access valuable nonprofit data. Whether you’re a grant writer, nonprofit executive, or fundraiser, understanding Form 990s can give you a competitive edge in securing funding.

Why Nonprofits Should Care About Form 990s

Form 990s serve as public financial records that provide insights into a nonprofit’s:

Revenue Sources – Where their money comes from (donations, grants, program revenue).

Spending Patterns – How funds are allocated across programs, salaries, and operations.

Grantmaking Activity – Which organizations they fund and in what amounts.

Governance Practices – Leadership structures, policies, and compliance.

Who Uses Form 990s and Why?

Grant Seekers – To find funders who support similar causes.

Donors & Philanthropists – To assess nonprofit financial health before contributing.

Researchers & Journalists – To analyze nonprofit transparency and accountability.

Nonprofit Leaders – To benchmark against similar organizations and refine strategies.

By understanding and analyzing Form 990s, nonprofits can identify funding opportunities, refine grant proposals, and demonstrate financial responsibility to potential donors and partners.

Using Instrumentl to Access Form 990s

Instrumentl is a grant research and tracking platform that provides direct access to nonprofit tax filings (Form 990s). It helps users:

Identify funding sources that align with their mission.
Analyze past giving trends of foundations and donors.
Monitor grant opportunities with automated tracking.

How to Find Form 990s on Instrumentl

Log into Instrumentl and navigate to the funder search section.
Enter the name or EIN of the nonprofit or foundation you’re researching.
Use filters to refine results by location, funding history, and giving priorities.
Download Form 990 PDFs to analyze financial and grant data.

How to Use Form 990 Data Effectively

Look at the Schedule I section to see which nonprofits received grants.
Check the mission statement and key financial figures for alignment.
Review past giving trends to understand funding cycles.
Finding Form 990s Using Your Matches

Instrumentl’s Matching Feature allows grant seekers to find Form 990s based on:

Funding history – See which foundations have funded organizations like yours.

Sector alignment – Identify funders who support your mission area.

Geographic focus – Find local, regional, or national funders.

How to Use Your Matches for Grant Research

Compare the funding amounts and typical grant sizes.
Identify key decision-makers listed on the Form 990.
Check if the foundation accepts unsolicited proposals.
Align your proposal with the funder’s giving patterns.

By leveraging Your Matches, nonprofits can strategically target funders who have a track record of supporting similar causes, increasing the likelihood of winning grants.

Finding Form 990s Using Quick Find

Quick Find is a fast and direct way to search for Form 990s using:

Organization Name – Look up specific nonprofits or funders.
Employer Identification Number (EIN) – A precise way to locate tax filings.
Keywords – Search by mission, funding area, or cause.

Tips for Effective Quick Find Searches

✔ Use filters to narrow results by tax year or financial size.

✔ Cross-reference results with other grant databases for deeper insights.

✔ Look for recurring grantees to understand a funder’s long-term priorities.

Quick Find is especially useful for grant writers who need immediate access to financial and funding history data to strengthen proposals.

Analyzing Form 990 Data

Once you’ve accessed a Form 990, the next step is to extract valuable insights that can guide fundraising and grant application strategies.

Key Sections to Analyze

Revenue & Expenses
Compare total revenue vs. expenses to gauge financial sustainability.
Look at funding sources (grants, program fees, investments, etc.).
Identify cost distribution (programs vs. admin vs. fundraising).
Grantmaking Activity (Schedule I & Schedule B)
Review who received grants and the typical grant size.
Identify trends in giving patterns (e.g., multi-year support).
Check if the funder prioritizes new grantees or established relationships.
Key Leadership & Governance (Part VII)
Identify board members and decision-makers.
Check for executive compensation trends.
Look for any conflict of interest disclosures.
Mission & Program Impact (Part III)
Read the program descriptions to understand their focus.
Assess alignment with your nonprofit’s mission for potential partnerships.
Identify opportunities for collaboration or shared funding sources.

How to Apply Form 990 Insights

Refine Your Grant Proposals – Align your request with funders’ giving patterns.

Build Strategic Partnerships – Identify nonprofits receiving similar funding.

Improve Financial Planning – Benchmark your nonprofit against similar organizations.

By analyzing Form 990 data effectively, nonprofits can make informed funding decisions, target the right donors, and increase their chances of securing grants.

Conclusion

Form 990 is a powerful yet underutilized tool for grant seekers, fundraisers, and nonprofit leaders. By learning how to find and analyze Form 990s, organizations can gain a competitive edge in securing funding and building strategic relationships.

Key takeaways:

✔ Use Instrumentl to access and track Form 990s.

✔ Leverage Form 990 data to identify funders and giving patterns.

✔ Analyze financials, governance, and grantmaking trends to refine strategies.

With the right approach, Form 990 can become an essential asset in nonprofit fundraising and sustainability efforts.