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IRS Releases Appendix K with IRS Form 990 Instructions

The IRS recently released its 2010 instructions for IRS Form 990 Return of Organization Exempt From Income Tax. On page 82 of IRS Form 990 instructions, a new Appendix K has been added. The appendix contains valuable information for your organization including explanations of the recordkeeping rules for charitable contributions, providing donors with proper substantiation of their contributions, both for cash and noncash contributions. It also describes situations where appraisals of property are required and disclosure statements for “quid pro quo”  contributions, the use of estimates and the forms that an organization would use in reporting noncash contributions. The  appendix can be downloaded from the IRS’ website at: http://www.irs.gov/pub/irs-pdf/i990.pdf  

Click here to download Appendix K 

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