Revised IRS Form 990 for Fundraising Activities - Part 1



IRS Form 990, the tax return form that nonprofits and other tax-exempt organizations are required to file annually, has been redesigned. IRS Form 990 now includes revised definitions and classifications of fundraising activities. In our presentaion we examine who must file IRS Form 990, what proceeds and expenses from a nonprofit organization's fundraising events must be reported on IRS Form 990, and what types of activities constitute a fundraising event.

IRS Form 990 – Schedule G filing requirements are looked at in greater depth, including the dollar threshholds of professional fundraising costs, contributions and gross gaming event income. We discuss how to complete IRS Form 990 for tax-exempt organizations that host multiple fundraising events, and we distinguish the differences between fundraising event revenue, contributions and direct expenses. IRS Form 990 – Schedule G section on gaming is also reviewed, with definitions and guidelines that will give nonprofit organizations a better understanding of how IRS Form 990 views the different categories of gaming, and what types of activities are considered gaming, or games of chance, which may have taxable implications as unrelated business income.

For more information, contact EisnerAmper's Nonprofit accounting services department.


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