Definition and Purpose of Schedule A (Form 990 or 990-EZ) 2017
The Schedule A (Form 990 or 990-EZ) is a critical component for organizations classified as 501(c)(3) public charities or nonexempt charitable trusts. This form is used to report the public charity status and public support of these organizations for the year 2017. It includes several sections, each designed to detail specific aspects of an organization's operations, such as their reason for public charity status, support schedules, and computations of public support percentages. The form is essential for ensuring compliance with IRS regulations that oversee charitable organizations.
How to Obtain Schedule A (Form 990 or 990-EZ) 2017
Organizations can access the Schedule A form through several methods. It is available for download from the IRS website, where users can find both the form and its accompanying instructions. Alternatively, organizations may use document management platforms like DocHub to import and edit the form directly from cloud storage services such as Google Drive or Dropbox. This flexibility aids organizations in managing their documentation needs efficiently without unnecessary steps.
Steps to Complete Schedule A (Form 990 or 990-EZ) 2017
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Gather Necessary Information: Begin by collecting all relevant data, including financial records, details of public support received, and information about any supporting organizations.
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Fill in Part I: This section addresses whether the organization is a church, school, hospital, or another institution that automatically qualifies as a public charity.
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Complete Support Schedule: Include the detailed support schedules that show total public support, exempt purpose expenditures, and related in-depth financial data.
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Calculate Public Support Percentage: Use the figures provided in the support schedule to compute the organization's public support percentage, which helps determine the organization’s current tax status.
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Sign and Review: Ensure that an authorized officer signs the completed form before submission, checking for accuracy and completeness.
Key Elements of Schedule A (Form 990 or 990-EZ) 2017
- Part I: Determines the basis of the organization’s public charity status.
- Part II & III: Involve detailed calculations of public support and total support received over the past five years.
- Part IV: Lists specific organizations that are considered supporting organizations.
- Definitions and Instructions: Each part contains extensive definitions and IRS instructions to guide the user in providing accurate information.
Filing Deadlines for Schedule A (Form 990 or 990-EZ) 2017
The Schedule A form must be filed by the 15th day of the fifth month after the end of the organization’s accounting period. For instance, if an organization's fiscal year ends on December 31st, the form is due by May 15th of the following year. Missing the deadline without securing an extension can result in financial penalties.
Required Documents for Completing Schedule A 2017
- Financial Statements: Detailed accounts of all financial transactions, including income and expenditures.
- Public Support Records: Documentation of all donations and grants received.
- Expenditure Reports: Records of all operational and charitable activities.
IRS Guidelines and Regulations
Adhering to IRS guidelines is crucial when completing Schedule A. These guidelines dictate how organizations should classify their charity status, compute public support percentages, and report any associations with supporting organizations. The IRS provides comprehensive resources to clarify these requirements, ensuring organizations remain compliant and avoid penalties.
Form Submission Methods
Organizations may file the Schedule A form electronically through the IRS’s e-file system or send a physical copy via mail. Electronic submission is often encouraged for its speed and efficiency, reducing the likelihood of errors and speeding up the IRS’s processing time. Platforms like DocHub can facilitate this by providing means to prepare, sign, and send forms digitally.
Penalties for Non-Compliance
Failure to submit Schedule A accurately and on time can lead to repercussions, including fines. Charities that do not file may face penalties of $20 per day, with the amount increasing for organizations with annual receipts over $1 million. Non-compliance can also affect an organization’s tax-exempt status, underscoring the importance of complete and timely submission.
