Required filing Form 990 series Internal Revenue Service

Compute the organization’s gross income from fees, ticket sales, or other revenue from fundraising events. On line 7a, for each column, enter the total gross sales price of all such assets. Total the cost or other basis (less depreciation) and selling expenses and enter the result on line 7b. Rental income from an exempt function is another example of program-related investment income. For purposes of this return, report all rental income from an affiliated organization on line 2.

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If the management company wasn’t a related organization during the tax year, the individual’s compensation from the management company isn’t reportable in Part VII, Section A. Questions pertaining to management companies also appear on Form 990, Part VI, line 3; and Schedule H (Form 990), Hospitals, Part IV. These can include persons who meet some but not all of the tests for key employee status. The organization isn’t required to enter more than https://garbage-management.com/GarbageRemoval/renovation-garbage-removal the top five such persons, ranked by amount of reportable compensation. Use the calendar year ending with or within the organization’s tax year for determining the organization’s current five highest compensated employees. Such management duties include, but aren’t limited to, hiring, firing, and supervising personnel; planning or executing budgets or financial operations; or supervising exempt operations or unrelated trades or businesses of the organization.

What Is Reasonable Compensation?

• An organization controlled by a controlling organization under section 512(b)(13).
• Don’t report on line 22 loans and payables excepted from reporting on Schedule L (Form 990), Part II (except for excess benefit transactions involving receivables).
• Don’t report on this line payments made by organizations exempt under section 501(c)(8), (9), or (17) to obtain insurance benefits for members.
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• On lines 7a and 7c, also report capital gains dividends, the organization’s share of capital gains and losses from a joint venture, and capital gains distributions from trusts.
• In some cases, persons are reported in Part VII or Schedule J (Form 990) only if their reportable compensation (as explained below) and “other compensation” (as explained below) from the organization and related organizations (as explained in the Glossary and in the Instructions for Schedule R (Form 990)) exceeds certain thresholds.

Reporting joint costs—expenses shared between fundraising and program activities—requires compliance with American Institute of CPAs (AICPA) guidelines to prevent https://garbage-management.com/GarbageService/bellingham-garbage-service misrepresentation. Misallocation of these costs can lead to penalties or jeopardize tax-exempt status, necessitating a thorough understanding of cost allocation practices. An organization may use any reasonable method in making a good faith estimate of the value of goods or services provided by that organization in consideration for a taxpayer’s payment to that organization.

• Section 501(c)(3) organizations that are required to file Form 990-T after August 17, 2006, must make Form 990-T available for public inspection under section 6104(d)(1)(A)(ii).
• Information returns to report mortgage interest, student loan interest, qualified tuition and related expenses received, and a contribution of a qualified vehicle that has a claimed value of more than $500.
• The officers of an organization are determined by reference to its organizing document, bylaws, or resolutions of its governing body, or as otherwise designated consistent with state law, but at a minimum include those officers required by applicable state law.
• A Type III supporting organization is further considered either functionally integrated with its supported organization(s) or not functionally integrated with its supported organization(s) (Type III other).
• For the latest information about developments related to Form 990 and its instructions, such as legislation enacted after they were published, go to IRS.gov/Form990.

Description of program services.

Answer “Yes” on line 17 if the total amount reported for professional fundraising services in Part IX (line 11e, plus the portion of the line 6 amount attributable to professional fundraising services) exceeds $15,000. Check this box if the organization changed its legal name (not its “doing business as” name) and if the organization hasn’t reported the change on its most recently filed Form 990 or 990-EZ or in correspondence to the IRS. Certain questions require all filers to provide an explanation on Schedule O (Form 990).

Direct costs are expenses that can be identified specifically with an organization’s activity or project, and can be assigned to an activity or project with a high degree of accuracy. Indirect costs are costs that can’t be identified specifically with an activity or project. For example, a computer bought by a university specifically for a research project is a direct cost. In contrast, the costs of software licensing for https://ww2planes.com.ua/ru/2015/04/vsya-zhizn-igra/ programs that run on all the university’s computers are indirect costs. State reporting requirements can be different from IRS reporting requirements applicable to Part IX. If the home theater system in Example 1 sold at auction for $2,500 instead of $7,500, and all other facts in Example 1 remain the same, then the organization should report the following amounts in Part VIII.

A candidate is one who offers himself or herself or is proposed by others for public office. Political campaign activity doesn’t include any activity to encourage participation in the electoral process, such as voter registration or voter education, provided that the activity doesn’t directly or indirectly support or oppose any candidate. The total amounts the organization received from all sources during its tax year, without subtracting any costs or expenses. See Appendix B. How To Determine Whether an Organization’s Gross Receipts Are Normally $50,000 (or $5,000) or Less and Appendix C. Special Gross Receipts Tests for Determining Exempt Status of Section 501(c)(7) and 501(c)(15) Organizations. A foreign organization includes an affiliate that is organized as a legal entity separate from the filing organization, but doesn’t include any branch office, account, or employee of a domestic organization located outside the United States. A person, including a U.S. citizen or resident, who lives or resides outside the United States.

Provide the name of the person who possesses the organization’s books and records, and the business address and telephone number of such person (or of the organization if the books and records are kept by such person at a personal residence). If the books and records are kept at more than one location, provide the name, business address, and telephone number of the person responsible for coordinating the maintenance of the books and records. The organization isn’t required to provide the address or telephone number of a personal residence of an individual. Both are CEOs of publicly traded corporations and serve on each other’s board. The relationship between H and J is a reportable business relationship because each is a director or officer in the same business entity.

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• An organization must report new, significant program services, or significant changes in how it conducts program services on its Form 990, Part III, rather than in a letter to IRS Exempt Organizations Determinations (“EO Determinations”).
• For purposes of this return, report all rental income from an affiliated organization on line 2.
• An organization’s completed Form 990 or 990-EZ, and a section 501(c)(3) organization’s Form 990-T, Exempt Organization Business Income Tax Return, are generally available for public inspection as required by section 6104.
• Also, nothing in these facts would prevent C from qualifying as an independent member of the organization’s governing body for purposes of Form 990, Part VI, line 1b.
• For purposes of Form 990, a distribution to a section 501(c)(3) organization from a split-interest trust (for example, charitable remainder trust, charitable lead trust) is reportable as a contribution.

The IRS can’t disclose portions of an exemption application relating to any trade secrets, etc. Additionally, the IRS generally can’t disclose the names and addresses of contributors. See the Instructions for Schedule B (Form 990) for more information about the disclosure of that schedule. Premiums consist of all amounts received as a result of entering into an insurance contract. They are reported on Form 990, Part VIII, line 2, or on Form 990-EZ, Part I, line 2. One of the organizations, typically local in nature, that is recognized as exempt in a group exemption letter and subject to the general supervision and control of a central organization.

For a trust or other entity, enter the state whose law governs the organization’s internal affairs (or the foreign country whose law governs for a foreign organization other than a corporation). Enter the organization’s current address for its primary website, as of the date of filing this return. If the organization doesn’t maintain a website, enter “N/A” (not applicable). If the organization is exempt under section 501(c) (other than section 501(c)(3)), check the second box and insert the appropriate subsection number within the parentheses (for example, “4” for a section 501(c)(4) organization). Check this box if the organization changed its address and hasn’t reported the change on its most recently filed Form 990; 990-EZ; 990-N; or 8822-B, Change of Address or Responsible Party—Business, or in correspondence to the IRS. File the 2024 return for calendar year 2024 and fiscal years that began in 2024 and ended in 2025.