Schedule B 990 Instructions

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Schedule B 990 (Schedule of Contributors) is used by organizations that are exempt from paying income tax. It is filed in conjunction with Form 990, 990-EZ, or 990-PF and provides the names and addresses of contributors to the organization. Generally, the filing firms are private foundations, churches, or a similar nonprofit group.

First Page

  • The cover page of the Schedule B contains the organization name, the federal ID number, the type (501(c)3, 527, or other), and indicates whether your organization is covered by a general or special rule. If your organization does not meet any of the special or general rules, you do not need to file the Schedule B, but you must answer Part IV, Line 2 of your Form 990, “is the organization required to complete Schedule B, Schedule of Contributors.” The Schedule B 990 contains parts I, II, and III. The forms may be photocopied if you need more pages. Number the pages sequentially. The three parts are linked through the consecutive numbering of your contributors.

Part I: Contributors

  • Assign each contributor a number under column (a). This number will also be used on Parts II and III. List the names, addresses, and zipcodes of all contributors under column (b). Contributors include individuals, partnerships, or corporations that have donated money, gifts, or property to your organization. The aggregate amount will be included on line (c). This amount is any amount in excess of $5,000 or greater than 2% of the total amount of all contributions, as reported on the Form 990, Part VIII (Statement of Revenue). Column (d) is used to indicate if the contribution was made by a person, payroll deduction, or non-cash. If non-cash is selected, you must complete Part II of the Schedule B.

Part II: Noncash Property

  • Using the number that corresponds to the contributor in Part I, describe the non-cash property, such as a vehicle, under column (b). Include the fair market value or a reasonable estimate under column (c), and the date received under column (d).

Part III

  • This part is used exclusively by a 501(c)(7), (8), or (10) organization with a total aggregate of more than $1,000 for the tax year. These organizations include those for lobbying or political campaigns or a social or recreation club. The contribution must have been specified for the exclusive use of a religious, charitable, or similar organization. If gifts totaled less than $1,000 per person, group them together and list them in the header of Part III. Column (a) is the same numbering sequence used under Part I. Column (b) is the purpose of the gift, such as “for building a library” and column (c) is the actual use of the gift. Column (d) describes how the gift is held, such as in a trust. Column (e) is used only when the gift is transferred from your company to another.

Filing

  • Once the Schedule B 990 is complete, it will be attached to your 990-PF and filed with the Internal Revenue Service (IRS) for the most current tax filing year. If your organization files a Form 990-PF or is a political organization using Form 990 or Form 990-EZ, the information will usually become public information

References

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