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Schedule B Department of the Treasury Internal Revenue Service OMB No. 15450047 Schedule of Contributors (Form 990, 990EZ, or 990PF) Attach to Form 990, Form 990EZ, or Form 990PF. Information about

How to fill out 990 schedule b

How to fill out 990 schedule b:

1. Gather all necessary information: Before you begin filling out the 990 schedule b, make sure you have all the required information handy. This includes the names and addresses of all contributors, the amount of their contributions, and any additional details required by the form.
2. Familiarize yourself with the instructions: It's essential to review the instructions provided for the 990 schedule b form. These instructions will provide you with specific guidelines and clarify any uncertainties you may have about the form's requirements.
3. Provide accurate contributor information: Fill out the contributor's name, address, and identification number (if applicable) in the designated fields. It is crucial to ensure the accuracy of this information, as any mistakes or discrepancies can lead to potential issues in the future.
4. Enter contribution details: For each contributor, enter the amount of their contribution and any other necessary details, such as whether the contribution was a cash or non-cash donation. Be careful when reporting non-cash contributions, as you should also provide a detailed description of the contributed property.
5. Confirm public support: If you are a public charity, ensure that you properly classify each contribution as either a public support or non-public support. Adequately determining the nature of each contribution is critical to comply with IRS regulations.
6. Calculate totals and report: Once you have entered all the necessary information for each contributor, calculate their total contributions and ensure they match the figures provided in other parts of your tax return. Accurate reporting is essential to maintain compliance with tax laws.

Who needs 990 schedule b:

1. Non-profit organizations: Non-profit organizations that are tax-exempt under section 501(c)(3) or certain other sections of the Internal Revenue Code may need to file the 990 schedule b. This form is specifically designed to report information about contributors who made substantial contributions to the organization.
2. Public charities: Public charities that primarily rely on public support are required to file the 990 schedule b. This form helps the IRS and the public have transparency regarding the funding sources of these organizations.
3. Organizations exceeding threshold limits: Non-profit organizations that receive significant contributions from a single contributor or a group of contributors surpassing certain threshold limits are also required to file the 990 schedule b. These threshold limits may vary depending on the organization's annual gross receipts.

It's important to note that certain exceptions and variations may apply based on specific circumstances and the requirements of the Internal Revenue Service. It is advisable to consult with a tax professional or the IRS for further guidance and clarification tailored to your organization's needs.

For pdfFiller’s FAQs

What is 990 schedule b?

990 schedule b is a form that must be filed by certain tax-exempt organizations to report information about their major donors.

Who is required to file 990 schedule b?

Tax-exempt organizations that receive significant donations from individuals or organizations are required to file 990 schedule b.

How to fill out 990 schedule b?

To fill out 990 schedule b, organizations must provide information about their donors, including name, address, contribution amount, and relationship to the organization.

What is the purpose of 990 schedule b?

The purpose of 990 schedule b is to increase transparency and accountability for tax-exempt organizations by disclosing information about their major donors.

What information must be reported on 990 schedule b?

On 990 schedule b, organizations must report the name and address of donors who contribute more than $5,000 during the tax year.

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