Revised Form 990 (Paperback)

Preface.

Acknowledgments.

About the Authors.

Chapter One: Redesigned Form 990.

§ 1.1 History of Redesign Project.

§ 1.2 Highlights of Revised Form 990.

§ 1.3 Filing of New Form Delayed for Many.

§ 1.4 Find Out Why Organization Qualifies for Tax Exemption.

§ 1.5 Who Is Required to File What.

§ 1.6 Filing for New Organizations.

§ 1.7 Who Is Not Required to File.

§ 1.8 Filing Deadline and Fiscal Year.

§ 1.9 New Form 990-N (e-Postcard).

§ 1.10 Electronic Filing of Returns.

§ 1.11 Group Returns and Annual Affidavit.

§ 1.12 Public Inspection of Forms 990 and 1023/1024.

Notes.

Appendix 1A: 6/14/07 Draft of Core Form.

Appendix 1B: BV Suggested Revisions.

Appendix 1C: Form 990-EZ.

Chapter Two: Good Accounting Makes a Good 990.

§ 2.1 Tax Accounting Methods.

§ 2.2 Professional Accounting Standards.

§ 2.3 Chart of Differences Between GAAP and IRS Rules.

Notes.

Chapter Three: The Core.

§ 3.1 2008 Form 990 Core.

§ 3.2 Part I Summary.

§ 3.3 Part II Signature Block.

§ 3.4 Part III Statement of Program Service Accomplishments.

§ 3.5 Part IV Checklist of Required Schedules.

§ 3.6 Part V Statements Regarding Other IRS Filings and Tax Compliance.

§ 3.7 Part VI Governance, Management, and Disclosure.

§ 3.8 Part VII Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors.

§ 3.9 Part VIII Statement of Revenue.

§ 3.10 Part IX Statement of Functional Expenses.

§ 3.11 Part X Balance Sheet.

§ 3.12 Part XI Financial Statements and Reporting.

Notes.

Appendix 3A: Transactions with Interested Parties Questionaire.

Chapter Four: Form 990, Schedules A through R.

§ 4.1 Schedule A.

§ 4.2 Schedule B.

§ 4.3 Schedule C.

§ 4.4 Schedule D.

§ 4.5 Schedule E.

§ 4.6 Schedule F.

§ 4.7 Schedule G.

§ 4.8 Schedule H.

§ 4.9 Schedule I.

§ 4.10 Schedule J.

§ 4.11 Schedule K.

§ 4.12 Schedule L.

§ 4.13 Schedule M.

§ 4.14 Schedule N.

§ 4.15 Schedule O.

§ 4.16 Schedule R.

Notes.

Appendix 4A: State Unified Registration Statement.

Appendix 4B: Interested Party by Part and Type.

Chapter Five: Form 990-T: Exempt Organization Business Income Tax Return.

§ 5.1 What Is Unrelated Business Income?

§ 5.2 Exceptions and Modifications from Tax.

§ 5.3 Unrelated Debt-Financed Income.

§ 5.4 Who Files Form 990-T?

§ 5.5 Due Dates, Tax Rates, and Other Filing Issues.

§ 5.6 Normal Income Tax Rules Apply.

§ 5.7 The Unique Design of the 990-T.

§ 5.8 Categories of Deductions.

§ 5.9 Cost Allocations.

§ 5.10 In-Kind Donations.

Notes.

Appendix 5A: Analysis of Corporation versus Trust 990-T Issues.

Chapter Six: The Private Foundation Return.

§ 6.1 Successful Completion of Form 990-PF.

§ 6.2 The Part I Columns.

§ 6.3 Line-by-Line Instructions for Revenues.

§ 6.4 Line-by-Line Instructions for Expenditures.

§ 6.5 Part II: Balance Sheets.

§ 6.6 Part III: Analysis of Changes in Net Worth or Fund Balances.

§ 6.7 Part IV: Capital Gains and Losses for Tax on Investment Income.

§ 6.8 Reports Unique to Private Foundations.

§ 6.9 Part V: Reducing the Tax Rate.

§ 6.10 Part VI: Calculating the Excise Tax.

§ 6.11 Part VII-A: Proof of Ongoing Qualification for Exemption.

§ 6.12 Part VII-B: Questions Seeking Evidence That No Sanctions Apply.

§ 6.13 Part VIII: Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors.

§ 6.14 Part IX-A and B: Summary of Direct Charitable Activities and Program-Related Investments.

§ 6.15 Part X: Minimum Investment Return.

§ 6.16 Part XI: Distributable Amount.

§ 6.17 Part XII: Qualifying Distributions.

§ 6.18 Part XIII: Undistributed Income.

§ 6.19 Part XIV: Private Operating Foundations.

§ 6.20 Part XV: Supplementary Information (Lines 1–2).

§ 6.21 Part XV: Grants and Contributions Paid During the Year or Approved for Future Payment (Line 3).

§ 6.22 Part XVI-A: Analysis of Income-Producing Activity.

§ 6.23 Part XVII: Information Regarding Transfers to and Transactions and Relationships with Noncharitable Exempt Organizations.

Notes.

Index.