What is Schedule G from Form 990?
Schedule G is a part of the IRS Form 990, used by tax-exempt organizations to report fundraising or gaming activities. This form is crucial because it provides transparency on how nonprofits raise money and manage gaming events. It helps the IRS and the public understand the financial activities of these organizations, ensuring they operate within legal guidelines. By accurately completing Schedule G, nonprofits demonstrate accountability and maintain their tax-exempt status.
What is Schedule G used for?
Schedule G from Form 990 provides details about a nonprofit's fundraising or gaming activities. It is used to:
- to disclose fundraising events and their income.
- to explain gaming activities and related financials.
- to report professional fundraising services used.
- to detail any costs associated with these activities.
How to fill out Schedule G from Form 990?
- 1
Read the instructions for Schedule G carefully to understand the requirements.
- 2
Fill in the organization’s name and EIN at the top of the form.
- 3
Provide details about fundraising activities, including event names and dates.
- 4
List all gaming activities, specifying types and amounts raised.
- 5
Disclose any professional fundraisers or agents involved in these activities.
- 6
Review your entries for accuracy before moving on.
Who is required to fill out Schedule G?
Organizations that conduct fundraising or gaming activities must complete Schedule G. This includes charities and nonprofits that report their financial activities related to these events.
After completion, the form is used by the IRS and state charity regulators to ensure compliance with financial reporting requirements.
When is Schedule G (Form 990) not required?
Nonprofit organizations that do not engage in fundraising or gaming activities do not need to file Schedule G. If an organization’s annual gross receipts are below the threshold set by the IRS, it may also be exempt from this requirement. Additionally, organizations that do not have paid staff for fundraising efforts are not obligated to complete this schedule.
When is Schedule G due?
The deadline for Schedule G is the 15th day of the 5th month after the end of your organization’s tax year. For most organizations, this means it’s due on May 15 if your tax year ends on December 31.
If you need more time to file, you can request a 6-month extension. Remember to check the specific guidelines related to your organization to ensure you meet all requirements.
How to get a blank Schedule G from Form 990?
To get a blank Schedule G, simply visit our website. The form is pre-loaded in our editor, allowing you to fill it out directly without needing to download a template. After completing it, you can easily download the filled form for your records.
Do you need to sign Schedule G?
Schedule G does not require a signature according to official guidelines. However, it's always wise to check with the IRS for the latest updates.
Where to file Schedule G from Form 990?
Schedule G can be filed online using the IRS e-File system or by mailing a paper version to the IRS.
When filing by mail, ensure you send it to the correct address based on your organization's location.
