Schedule B (990 Form)

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What is Schedule B (990 Form)?

Schedule B (990 Form) is a supplemental schedule that provides information on the contributions and grants received by an organization during the tax year. It is a requirement for tax-exempt organizations to report any contributions they receive, especially if they exceed a certain threshold. Schedule B helps the Internal Revenue Service (IRS) monitor and track the flow of funds into these organizations.

What are the types of Schedule B (990 Form)?

There are two types of Schedule B (990 Form): Schedule B Part I and Schedule B Part II. - Schedule B Part I: This section is used for reporting contributions received from individuals, partnerships, and corporations. It includes information such as the name of the contributor, their address, and the amount contributed. - Schedule B Part II: This section is used for reporting contributions received from foundations and other exempt organizations. Similar information is required as in Part I, but with additional details such as the grantor's identification number and the purpose of the grant.

Schedule B Part I
Schedule B Part II

How to complete Schedule B (990 Form)

Completing Schedule B (990 Form) can be done in a few simple steps: 1. Gather all the necessary information: Collect the details of all contributions received, including the name and address of the contributor, as well as the amount and purpose of the contribution. 2. Fill out Schedule B Part I: Enter the information for contributions received from individuals, partnerships, and corporations in this section. Ensure that all required fields are completed accurately. 3. Fill out Schedule B Part II: Enter the information for contributions received from foundations and other exempt organizations in this section. Provide all the necessary details, including the grantor's identification number and the purpose of the grant. 4. Double-check the information: Review all the entered information to ensure accuracy and completeness. 5. Submit the form: Once you have finished completing Schedule B (990 Form), submit it along with the rest of your Form 990 to the IRS.

01
Gather all the necessary information
02
Fill out Schedule B Part I
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Fill out Schedule B Part II
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Double-check the information
05
Submit the form

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Video Tutorial How to Fill Out Schedule B (990 Form)

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Questions & answers

Tax-exempt organizations that receive contributions as part of their revenue are required to include Form 990 Schedule B, Schedule of Contributors, listing the contributors who donated more than a specific threshold.
Generally, a NPO must attach Schedule B to its Form 990 if it receives contributions of the greater of $5,000 or more than 2% of revenues from any one contributor. There are special rules for certain 501(c)(3) NPOs that may raise the reporting threshold above $5,000.
Schedule I (Form 990) is used by an 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 governments, and domestic individuals. Report activities conducted by the organization directly.
Contributions. Contributions reportable on Schedule B (Form 990) are contributions, grants, bequests, devises, and gifts of money or property, whether or not for charitable purposes. For example, political contributions to section 527 political organizations are included.