CNC Form 990 & Compliance Calendar 2

Question 1

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

Accepted Answer

Schedule G

Answer

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

Question 2

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

Accepted Answer

Interested persons

Answer

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

Question 3

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

Accepted Answer

Schedule R

Answer

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

Question 4

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

Accepted Answer

Tax-exempt hospitals

Answer

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

Question 5

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

Accepted Answer

Donor privacy protections allow redaction of names and addresses

Answer

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

(CNC) Certified Nonprofit Consultant Practice Test

(CNC) Certified Nonprofit Consultant Practice Test

CNC Form 990 & Compliance Calendar 2