There are specific things that the IRS just lays out and says “this is unrelated business income” and one of them is debt-financed rent. Can you give an example of an exempt organization’s unrelated business income? I have heard that it’s been asked many times by foundations, and I guess you have to weigh the value of getting the money versus not providing that information to them. I’m sure they just want to see where your information is coming from. As long as you don’t have something in your Schedule B that you don’t want to disclose, such as an anonymous donation, I would be hesitant to not provide that information to the foundation. I’m guessing you’re asking about foundations wanting to give the Schedule B to them, and that’s a sticky wicket to not provide a funder something they’re wanting in order to not give you the money. If you have additional information that falls outside of the parameters of the form, they provided a free-flow form to type anything else that you want, that the organization perhaps thinks is important for the reader on that form, Schedule O, and you can provide as much detailed information as you want. The 990 specifically does not allow you to attach anything but the form itself.
Some foundations include public information (grants) as attachments. So, you’ll always have those factors to consider, but absolutely if you’re under $50,000 and you want something to perhaps provide to a funder or an organization that’s asking you for a little bit more detail, you can certainly file a 990-EZ. The 990-N is five simple questions you can answer online on the IRS’s website. Of course, that requires a lot more disclosure, a lot more information to be provided, and there’s an extra cost to do a 990-EZ versus a 990-N.
Fund ez backup scheduler not running full#
Yes, absolutely – you can file a full 990 if you want to. If an organization could file a 990-N, can it instead file a 990-EZ? Contact us via the Ducks In A Row website, or give us a call at 513.831.1000. We do training and we also help with doing financials for non-profit organizations. Yes, Ducks In A Row offers support for QuickBooks Online. Do you provide support or consultation to help with QuickBooks Online? It’s impossible to get ahold of anyone through their helpline. So many great questions, and while we couldn’t get to all of them in our limited time, we’ve collected them here, with answers and insights from our not-for-profit pros. That’s why Barnes Dennig and Impact 100 hosted this 1-hour session on tax, accounting, and financial hot topics that our not-for-profit clients want to know more about.
But to grow the organization, you need to know the ins and outs of running a business, too. You’ve got the strategy, the mission, and the vision set. We know that many not-for-profit leaders wear multiple hats.
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