Form 990 (Schedule I)

What is IRS Form 990 Schedule I 2023-2024

Form 990 Schedule I, officially known as "Grants and Other Assistance to Organizations, Governments, and Individuals in the United States," is a document that tax-exempt organizations, non-profit foundations, and charities use to report their grants and assistance. In particular, it discloses the organizations and projects the non-profit supported throughout the tax year.

Filing Requirements:

All tax-exempt organizations providing grants or assistance during the tax year must file Schedule I Form 990 along with their standard Form 990. Failure to file this schedule accurately and on time may result in penalties and jeopardize the organization's tax-exempt status.

How To Fill Out IRS Form 990 Schedule I 2023

Step 1: Complete the Header

Fill in the header with the name of your organization and your Employer Identification Number (EIN). It's essential to ensure this information matches your Form 990 or 990-EZ.

Step 2: Fill Out Part I

In Part I, you will list each recipient who received more than $5,000 in grants or assistance during the tax year. Be sure to fill in each column. This part of the form requires:

• The name and address of each recipient
• The recipient's EIN (if it's an organization)
• IRS code section of the recipient's exemption (if it's an organization)
• The amount of cash grant or assistance
• The amount of non-cash assistance
• A brief description of the non-cash assistance
• The purpose of the grant or assistance

It's essential to detail each grant individually and as accurately as possible.

Step 3: Fill Out Part II

If you reported any recipient in Part I, Column (i), you must complete Part II. Here you should provide additional information about those grants or assistance. This part includes:

• The purpose of the grant or assistance
• Whether it was a one-time or continuing grant
• How the organization monitors the use of the grant

Take your time to complete this part accurately, as it provides essential information about your organization's grant-making activities.

Step 4: Fill Out Part III

In Part III, you need to provide information about the organization's grant-making process. This includes an explanation of how the organization monitors the use of grants and how it ensures they are used for the intended purpose. If the organization uses a third party or committee to oversee this process, that should also be included in this part.

Step 5: Review and Attach to Form 990

Once you've completed all parts of Schedule I, review it carefully to ensure accuracy. Then, attach it to your Form 990 or 990-EZ when filing. Keep a copy for your records and possible future reference.