990 Ez Form Schedule A
Introduction
As a non-profit organization, it is important to file the correct tax forms in order to maintain your tax-exempt status. One of the most common forms for non-profits to file is the 990 EZ Form, which includes Schedule A. In this article, we will dive into everything you need to know about Schedule A and how it relates to your 990 EZ Form.
Personal Experience
As a board member of a non-profit organization, I have had first-hand experience with filing the 990 EZ Form and Schedule A. At first, it seemed like a daunting task, but with the right guidance and resources, we were able to successfully file our taxes and maintain our tax-exempt status.
What is 990 EZ Form Schedule A?
Schedule A is a section of the 990 EZ Form that is used to report information about the non-profit organization’s public charity status. This includes information about donors, fundraising activities, and grants received.
List of Events or Competition of 990 EZ Form Schedule A
Some events or competitions related to Schedule A include: – Annual reporting of public support – Tracking of donations and fundraising activities – Reporting of grants received – Maintaining accurate records of donor information
Detail Schedule Guide for 990 EZ Form Schedule A
When filling out Schedule A, it is important to follow a detailed guide to ensure accuracy and compliance. Here are some steps to follow: 1. Determine your public support percentage 2. Gather information about donors and donations 3. Report fundraising activities 4. Report grants received 5. Calculate your public support percentage 6. File Schedule A with your 990 EZ Form
Schedule Table for 990 EZ Form Schedule A
Here is an example of a Schedule A table: | Line Item | Description | Amount | | — | — | — | | 1 | Public Support (Line 5, Form 990-EZ) | $100,000 | | 2 | Contributions from Schedule B | $10,000 | | 3 | Gross Income from Interest, Dividends, etc. | $5,000 | | 4 | Net Rental Income from Real Property | $0 | | 5 | Net Income from Other Sources | $0 | | 6 | Total Support (Add lines 1-5) | $115,000 | | 7 | Public Support Percentage (Line 6 divided by Line 1) | 115% |
Question and Answer Section
Q: Who needs to file Schedule A?
A: Non-profit organizations that qualify as public charities need to file Schedule A along with their 990 EZ Form.
Q: What is the purpose of Schedule A?
A: Schedule A is used to report information about the non-profit organization’s public charity status, including donor information, fundraising activities, and grants received.
Q: Is Schedule A required for all non-profit organizations?
A: No, only non-profit organizations that qualify as public charities need to file Schedule A.
Q: What happens if I don’t file Schedule A?
A: Failing to file Schedule A can result in penalties and can jeopardize the non-profit organization’s tax-exempt status.
FAQs
Q: What is the difference between a public charity and a private foundation?
A: Public charities receive a majority of their funding from the general public, while private foundations are typically funded by a single source, such as an individual or family.
Q: How do I determine if my non-profit organization qualifies as a public charity?
A: The IRS provides a list of requirements for non-profit organizations to qualify as public charities. These requirements include limits on lobbying and political activity, as well as a public support test.
Q: Can I file Schedule A electronically?
A: Yes, Schedule A can be filed electronically through the IRS website.
Conclusion
Filing the 990 EZ Form and Schedule A can be a complex process, but with the right guidance and resources, it can be accomplished successfully. By understanding the purpose of Schedule A and following a detailed guide, non-profit organizations can maintain their tax-exempt status and continue to make a positive impact in their communities.