Form 990 & Compliance Calendar Flashcards

Which Form 990 schedule must be completed by organizations with gross receipts over $15,000 from gaming activities?

Answer: Schedule G

Schedule G (Supplemental Information Regarding Fundraising or Gaming Activities) is required when gaming gross receipts exceed $15,000.

Schedule L of Form 990 requires disclosure of transactions with which group?

Answer: Interested persons

Schedule L discloses transactions with interested persons, including loans, grants, and business transactions between the organization and insiders.

A nonprofit with ownership interests in for-profit subsidiaries must complete which Form 990 schedule?

Answer: Schedule R

Schedule R (Related Organizations and Unrelated Partnerships) discloses ownership interests in subsidiaries, related organizations, and joint ventures.

Which type of organization is required to complete Schedule H of Form 990?

Answer: Tax-exempt hospitals

Schedule H is required of 501(c)(3) organizations that operate one or more hospital facilities, covering community benefit and billing practices.

Schedule B contributor information may be withheld from the public inspection copy of Form 990 because:

Answer: Donor privacy protections allow redaction of names and addresses

Organizations may redact contributor names and addresses from the public copy of Schedule B, though they must provide the complete version to the IRS.

Form 990 Schedule O serves what primary purpose?

Answer: Providing supplemental narrative explanations for other parts

Schedule O is used for supplemental information and narrative responses that are too lengthy to fit within the main form's designated spaces.

Which Form 990 schedule must be completed by a 501(c)(3) organization that operates a school?

Answer: Schedule E

Schedule E (Schools) is required for 501(c)(3) organizations that operate a school and must document their nondiscrimination policies.