Form 990 Schedule B (2020)

What Is Schedule B Form 990

Schedule B Form 990 is a supplemental form used by organizations when filing their Form 990, Form 990-EZ, or Form 990-PF. This particular schedule is designed to provide additional information on contributions the organization received during the year. It is primarily used to report the names and addresses of donors who contribute $5,000 or more in a single year or a certain percentage of the organization's total contributions. The requirement to include the names and addresses of contributors can vary based on the organization's total revenue and the nature of the contributions.

When to Use IRS Form 990 Schedule B

The IRS has provided specific situations in which non-profit organizations are required to use Schedule B with their Form 990 filings:

• When an organization receives a single donation of $5,000 or more from an individual, trust, or corporation within the tax year.
• Suppose the organization is a public charity receiving more than 2% of its contributions from any single donor. In that case, they must report the donor's information if the amount exceeds the 2% threshold.
• Grantmaking organizations must report all contributions from each donor exceeding $5,000 or 2% of the total grants and contributions received during the year.
• Certain exceptions and thresholds may apply based on the organization's gross receipts and the donor type.

How To Fill Out Form 990 Schedule B Instructions

Filling out the IRS Form 990 Schedule B requires careful attention to detail. Here are step-by-step guide instructions to help you complete the form:

• Step 1: Enter the organization's name and Employer Identification Number (EIN) at the top of the form.
• Step 2: Check the appropriate box for the type of form the Schedule B is being submitted with (990, 990-EZ, or 990-PF).
• Step 3: Indicate the tax year for which you are filing Schedule B.
• Step 4: Use Part I to list each person (or entity) who contributed, directly or indirectly, $5,000 or more to your organization. Include the name, address, total contributions for the year, and whether any contributions were non-cash. You need to describe the property and provide a fair market value for non-cash contributions.
• Step 5: In Part II, list any contributors that must be reported on Schedule B but weren't reported in Part I, generally because the contributions were less than $5,000.
• Step 6: Ensure that all amounts are accurate and that the sum of the contributions matches the amount reported on your Form 990.
• Step 7: Review your completed Schedule B carefully for accuracy and completeness before attaching it to your IRS Form 990 or other 990 forms.

Where To File IRS Form 990 Schedule B

The completed Schedule B Form 990 should be filed with the relevant Form 990. Generally, organizations must mail these forms to the Department of the Treasury, Internal Revenue Service Center at the address provided for their state or area. Alternatively, many organizations opt to e-file their tax documents using IRS-authorized electronic filing methods, which can be more secure and expedite processing. It's crucial to consult the IRS instructions for filing locations, as these can change, or to consult a tax professional who can assist with electronic filing options and requirements. Remember always to keep a copy of Schedule B for your organization's records.