For Paperwork Reduction Act Notice see the Instructions for Form 990. Cat. No. 50055P Schedule I Form 990 2017 Page 2 Part III can be duplicated if additional space is needed. a Type of grant or assistance b Number of recipients c Amount of cash grant FMV appraisal other Supplemental Information. Provide the information required in Part I line 2 Part III column b and any other additional information. Page 3 Section references are to the Internal Revenue Code unless otherwise noted. General...Instructions Future developments. SCHEDULE I Form 990 Grants and Other Assistance to Organizations Governments and Individuals in the United States OMB No* 1545-0047 Complete if the organization answered Yes on Form 990 Part IV line 21 or 22. Attach to Form 990. Go to www*irs*gov/Form990 for the latest information* Department of the Treasury Internal Revenue Service Open to Public Inspection Name of the organization Part I Employer identification number General Information on Grants and...Assistance Does the organization maintain records to substantiate the amount of the grants or assistance the grantees eligibility for the grants or assistance and the selection criteria used to award the grants or assistance. Describe in Part IV the organization s procedures for monitoring the use of grant funds in the United States. Yes No 990 Part IV line 21 for any recipient that received more than 5 000. Part II can be duplicated if additional space is needed* 1 a Name and address of...organization or government b EIN c IRC section if applicable d Amount of cash grant e Amount of noncash assistance f Method of valuation book FMV appraisal other g Description of noncash assistance h Purpose of grant or assistance Enter total number of section 501 c 3 and government organizations listed in the line 1 table. For the latest information about developments related to enacted after the schedule and its instructions were published go to www*irs*gov/Form990. Note. Terms in bold are...defined in the Glossary of the Instructions for Form 990. Purpose of Schedule organization that files Form 990 to provide information on grants and other assistance made by the filing organization during the tax year to domestic organizations domestic Report activities conducted by the organization directly. Also report activities conducted by the organization indirectly through a disregarded entity or a joint venture treated as a partnership* awards prizes contributions noncash assistance cash...allocations stipends scholarships fellowships research grants and similar payments and distributions made by the organization during the tax year. For assistance don t include Salaries or other compensation to employees or payments to independent contractors if the primary purpose of such payments is to serve the direct and immediate needs of the organization such as legal accounting or fundraising services. The payment of any benefit by a 501 c 9 voluntary employees beneficiary association VEBA...to employees of a sponsoring payment is made under the terms of the VEBA trust and in compliance with section Grants to affiliates that aren t organized as legal entities separate from the filing offices accounts or employees of the organization located in the United States.
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Editing IRS 990 - Schedule I involves making changes to the information reported in the form. Use a tool like pdfFiller to access the form and make the necessary amendments. Ensure that any changes reflect current and correct information. After editing, review the entire form for accuracy before proceeding to file.
How to fill out IRS 990 - Schedule I
Filling out IRS 990 - Schedule I requires a clear understanding of the organization's activities and financial transactions. Follow these steps:
01
Obtain the most recent version of the form.
02
Carefully read the instructions provided with the form.
03
Gather all necessary financial information, including revenue and expenses.
04
Complete each section accurately, ensuring all details align with supporting documentation.
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Review the form for completeness and accuracy before submission.
About IRS 990 - Schedule I 2017 previous version
What is IRS 990 - Schedule I?
IRS 990 - Schedule I is a schedule that accompanies the IRS Form 990, which tax-exempt organizations file annually. This schedule specifically provides information about grants and other assistance organized by the nonprofit. It plays a crucial role in ensuring transparency regarding how organizations utilize funds received from various sources.
Who needs the form?
Organizations that receive or make grants are required to file IRS 990 - Schedule I. This typically includes charities, foundations, and other tax-exempt entities that report significant financial transactions. If your organization is involved in distributing funds to other tax-exempt organizations or individuals, this form is necessary for compliance.
Components of the form
IRS 990 - Schedule I consists of several key components that include identification details about the organization, a breakdown of grants and assistance provided, and disclosures about compliance with legal regulations. Each section is designed to capture pertinent information related to the organization’s funding activities.
What are the penalties for not issuing the form?
Failing to file IRS 990 - Schedule I can result in significant penalties, including monetary fines and loss of tax-exempt status. For organizations required to report, the IRS may impose fines for failure to submit accurate filings, which can accumulate over time if not rectified.
Is the form accompanied by other forms?
IRS 990 - Schedule I is typically attached to the main IRS Form 990. Depending on the funding activities, other schedules may also be necessary, such as Schedule B for reporting significant contributors or Schedule G for professional fundraising services. Review your filing requirements to ensure all necessary documents are submitted together.
What is the purpose of this form?
The primary purpose of IRS 990 - Schedule I is to report the details of grants and other assistance provided by organizations. This helps the IRS and the public understand how funds are distributed and the impact of these distributions on the organization’s mission. By detailing grants, organizations can demonstrate accountability and compliance with tax regulations.
When am I exempt from filling out this form?
You may be exempt from filing IRS 990 - Schedule I if your organization did not make any reportable grants or assistance during the fiscal year. Additionally, certain small organizations might qualify for simplified filing requirements or exemptions based on revenue thresholds. It's critical to review IRS guidelines to determine your eligibility for exemption.
What payments and purchases are reported?
The form reports payments made in the form of grants to other organizations, funding for projects, and assistance provided to individuals or groups. It requires detailed accounting of each payment and its purpose, ensuring transparency in the organization’s funding activities.
What information do you need when you file the form?
To file IRS 990 - Schedule I, gather the following information:
01
The organization's identifying information, including name, address, and Employer Identification Number (EIN).
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Details of funds distributed, including amounts and recipient organizations.
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Support documentations that verify the grants and payments made.
Having accurate documentation ensures that the form is filled out correctly and minimizes errors that could lead to compliance issues.
Where do I send the form?
Once completed, IRS 990 - Schedule I must be submitted to the appropriate IRS submission address, which can vary based on the organization’s location and method of filing (paper vs. electronic). Check the IRS website for the most current mailing addresses or electronic submission guidelines to ensure proper delivery.
FAQ about IRS 990 - Schedule I
What should I do if I realize I've made a mistake on my IRS 990 - Schedule I after filing?
If you discover an error on your IRS 990 - Schedule I after submission, you can file an amended form. Ensure you denote the form as amended and provide corrected information. Follow the IRS guidelines for amending to avoid complications.
How can I confirm that my IRS 990 - Schedule I has been received and processed?
To verify receipt and processing of your IRS 990 - Schedule I, you can check the IRS's online tool for tracking submissions or contact their customer service. It’s also recommended to keep copies of materials sent and any confirmation received.
What common errors should I be aware of when filing my IRS 990 - Schedule I?
Common errors when filing IRS 990 - Schedule I include incorrect or missing EINs, failing to accurately report revenue and expenses, and not adhering to guidelines about supporting documents. Review instructions carefully and double-check entries to minimize mistakes.
Are there any special considerations for nonresident foreign payees when completing IRS 990 - Schedule I?
When dealing with nonresident foreign payees on your IRS 990 - Schedule I, ensure compliance with IRS regulations on withholding and reporting. Accurately report payments made to these individuals and maintain proper documentation to support your filings.
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