Form 990

A member of the governing body isn’t considered to lack independence merely because of the following circumstances. Report the highest dollar amount of reserves the organization maintains on hand and reports to a state in which the organization is licensed to issue qualified health plans. Gross income for mutual or cooperative electric companies is figured by excluding any income received or accrued from the following. Forms are available by downloading from the IRS website at Check the box in the heading of Part V if Schedule O (Form 990) contains any information pertaining to this part. The organization isn’t authorizing the paid preparer to bind the organization to anything or otherwise represent the organization before the IRS.

Enter total amounts for travel or entertainment expenses (including reimbursement for such costs) for any federal, state, or local public officials (as determined under section 4946(c)) and their family members (as determined under section 4946(d)). Report amounts for a particular public official only if aggregate expenditures for the year relating to such official (including family members of such official) exceed $1,000 for the year. Enter amounts for the use of office space or other facilities, including rent; heat, light, power, and other utilities expenses; property insurance; real estate taxes; mortgage interest; and similar occupancy-related expenses. Don’t include on line 16 expenses reported as office expenses (such as telephone expenses) on line 13. Monthly account service fees are considered portfolio management expenses and must be reported here.

Instructions for Form 990

Examples of program-related investments include student loans and notes receivable from other exempt organizations that obtained the funds to pursue the filing organization’s exempt function. Enter the total expenses incurred by the organization in conducting meetings related to its activities. Include such expenses as facility rentals, speakers’ fees and expenses, and printed materials.

  • Any building or structure listed in the National Register of Historic Places as well as any building certified as being of historic significance to a registered historic district.
  • Answer “Yes” on line 15b if the process for determining compensation of one or more officers or key employees other than the top management official included all of the elements listed above.
  • See section 170(h) for additional information, including special rules about the conservation purpose requirement for buildings in registered historic districts.
  • Under section 4958, any disqualified person who benefits from an excess benefit transaction with an applicable tax-exempt organization is liable for a 25% tax on the excess benefit.
  • A private college or university will be subject to the excise tax on net investment income under section 4968 only if four threshold tests are met.

Section B doesn’t require reporting of compensation from related organizations. If “Yes,” describe on Schedule O (Form 990) the organization’s practices for monitoring proposed or ongoing transactions for conflicts of interest and dealing with potential or actual conflicts, whether discovered before or after the transaction has occurred. The description should include an explanation of which persons are covered under the policy, the level at which determinations of whether a conflict exists are made, and the level at which actual conflicts are reviewed. Also explain any restrictions imposed on persons with a conflict, such as prohibiting them from participating in the governing body’s deliberations and decisions in the transaction. Answer “Yes” on lines 8a and 8b if the organization contemporaneously documented by any means permitted by state law every meeting held and written action taken during the organization’s tax year by its governing body and committees with authority to act on behalf of the governing body (which ordinarily don’t include advisory boards).

Filing requirements

This is the section 162 standard that will apply in determining the reasonableness of compensation. The fact that a bonus or revenue-sharing arrangement is subject to a cap is a relevant factor in determining the reasonableness of compensation. The following is a list of special instructions for the form and schedules regarding the reporting of a disregarded entity of which the organization is the sole member. These items are described to illustrate special applications of the rule described above that a disregarded entity’s activities and items must be reported on the organization’s and applicable schedules. The group of one or more persons authorized under state law to make governance decisions on behalf of the organization and its shareholders or members, if applicable.

Section 527 political organizations required to file Form 990 or 990-EZ must, in general, make their Forms 8871, 8872, 990, or 990-EZ available for public inspection in the same manner as annual information returns of section 501(c) organizations are made available. See Public inspection and distribution of applications for tax exemption and annual information returns of tax-exempt organizations, later. Generally, Form 8871 and Form 8872 are available for inspection and printing at An escrow or custodial account doesn’t include a split-interest trust (or the beneficial interest in such trust) described in section 4947(a)(2) for which the filing organization is a trustee, other than a trust in the trade or business of lending money; repairing credit; or providing debt management plan services, payment processing, or similar services. Enter the types and amounts of expenses which weren’t reported on lines 1 through 23. Include expenses for medical supplies incurred by health care/medical organizations.

Arts, Entertainment, and Recreation

4302, A Charity’s Guide to Vehicle Donation; and the Instructions for Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes.Substantiation and disclosure requirements for charitable contributions. The Form 990 or 990-EZ information made available for public inspection by the IRS can differ from that made available by the states. The deadline for filing Form 990 or 990-EZ with the IRS differs from the time for filing reports with some states. State or local filing requirements can require the organization to attach to Form 990 or 990-EZ one or more of the following. Used to notify the IRS of a change in mailing address that occurs after the return is filed. The Patient-Centered Outcomes Research fee is imposed on issuers of specified health insurance policies (section 4375) and plan sponsors of applicable self-insured health plans (section 4376) for policy and plan years ending on or after October 1, 2012.

Form 990