Form 990 Ez Schedule A
Introduction
If you’re a nonprofit organization in the United States, you’re likely familiar with Form 990. This form is used to report your organization’s financial information to the Internal Revenue Service (IRS). But did you know that there’s a specific schedule within Form 990 that’s designed for smaller organizations? It’s called Form 990 Ez Schedule A, and in this article, we’re going to take a closer look at what it is and how it works.
My Personal Experience
As a board member of a small nonprofit organization, I was tasked with filling out Form 990 Ez Schedule A for the first time. I was a bit intimidated, but after doing some research and consulting with our accountant, I was able to complete it with ease. Now, I want to share what I learned with other nonprofit leaders who may be in the same boat.
What is Form 990 Ez Schedule A?
Form 990 Ez Schedule A is a simplified version of Form 990 that’s designed for smaller tax-exempt organizations. It’s used to report information about the organization’s public support, such as donations and grants, as well as certain types of income and expenses. Organizations that have gross receipts of less than $200,000 and total assets of less than $500,000 can use Form 990 Ez Schedule A instead of the full Form 990.
List of Events and Competitions
There are no specific events or competitions associated with Form 990 Ez Schedule A. However, it’s important for nonprofit organizations to be aware of the deadlines for filing their tax forms. The deadline for filing Form 990 Ez Schedule A is the 15th day of the 5th month after the end of the organization’s fiscal year.
Schedule Guide for Form 990 Ez Schedule A
Here’s a step-by-step guide to filling out Form 990 Ez Schedule A: 1. Start with the organization’s basic information, such as its name, address, and EIN (Employer Identification Number). 2. Report the organization’s public support, including donations and grants from individuals, corporations, and foundations. 3. Indicate whether the organization is a public charity or a private foundation. 4. Report any income from unrelated business activities, such as selling merchandise or services. 5. Report any expenses related to the organization’s public support, including fundraising expenses and grants to other organizations. 6. Calculate the organization’s public support percentage by dividing its public support by its total support. 7. Determine the organization’s classification as a public charity or private foundation based on its public support percentage. 8. Sign and date the form.
Schedule Table for Form 990 Ez Schedule A
Here’s a breakdown of the sections and fields on Form 990 Ez Schedule A: – Part I: Public Support – Line 1: Gifts, grants, and contributions received – Line 2: Membership fees received – Line 3: Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is not an unrelated trade or business – Line 4: Gross receipts from activities related to the organization’s exempt purposes – Line 5: Total public support (add lines 1 through 4) – Part II: Support Schedule for Organizations Described in Section 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) – This section is only required for organizations that receive a substantial amount of their support from a government agency or the general public. – Part III: Statement of Program Service Accomplishments – This section is optional and allows organizations to provide additional information about their programs and services. – Part IV: Checklist of Required Schedules – This section lists the other schedules that may need to be attached to the form, depending on the organization’s activities. – Part V: Statements Regarding Other IRS Filings and Tax Compliance – This section asks whether the organization has filed all required tax forms and whether it has complied with other IRS regulations.
Question and Answer (Q&A)
Q: Can all tax-exempt organizations use Form 990 Ez Schedule A?
A: No, only organizations with gross receipts of less than $200,000 and total assets of less than $500,000 can use Form 990 Ez Schedule A. Q: What is the deadline for filing Form 990 Ez Schedule A?
A: The deadline is the 15th day of the 5th month after the end of the organization’s fiscal year. Q: Is there a penalty for filing Form 990 Ez Schedule A late?
A: Yes, there is a penalty of $20 per day, up to a maximum of $10,000, for organizations that file their tax forms late.
Frequently Asked Questions (FAQs)
Q: Can I file Form 990 Ez Schedule A electronically?
A: Yes, you can file electronically using the IRS’s e-Postcard system. Q: What happens if my organization doesn’t meet the requirements for using Form 990 Ez Schedule A?
A: Your organization will need to file the full Form 990 instead. Q: Do I need to attach any additional documents to Form 990 Ez Schedule A?
A: It depends on the organization’s activities. The form includes a checklist of required schedules that may need to be attached.
Conclusion
Form 990 Ez Schedule A may seem daunting at first, but it’s actually a simplified version of the full Form 990 that’s designed specifically for smaller tax-exempt organizations. By following the step-by-step guide and understanding the requirements, you can easily complete this form and ensure that your organization stays in compliance with IRS regulations.