2015 Form 990 or 990-EZ Schedule L Transactions with Interested Persons - irs-2025

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A disqualified person is any person who was in a position to exercise substantial influence over the affairs of the applicable tax-exempt organization at any time during the lookback period. The lookback period is the five-year period before the excess benefit transaction occurred.
Filing Requirements Form 990 is for tax-exempt organizations with gross receipts of $200,000 or more (or) total assets of $500,000 or more, whereas Form 990-EZ is for organizations with gross receipts less than $200,000 (and) total assets less than $500,000.
Part VII, Section A of Form 990 is where organizations report compensation information for key employees. This section is divided into three parts: Reportable compensation from the organization: This includes salary, bonuses, and other taxable benefits paid directly by the organization.
Form 990-EZ requirements Most tax-exempt organizations with gross receipts less than $200,000 and total assets at the end of the year less than $500,000 can file Form 990-EZ instead of Form 990. Exceptions to this include: Sponsoring organizations of donor advised funds. Organizations that operate a hospital facility.
For purposes of Schedule L, Parts IIIV, a substantial contributor is an individual or organization that made contributions during the tax year in the aggregate of at least $5,000, and whose contributions are required to be reported on Schedule B (Form 990), Schedule of Contributors, for the organizations tax year.
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Non-profit organizations that file Form 990 or Form 990-EZ are generally required to complete Schedule L if they have engaged in any transactions or arrangements with interested persons during the tax year. This includes transactions such as loans, compensation payments, sales or purchases of assets, and leases.
Interested person includes (1) any person currently being compensated by the corporation for services rendered to the corporation within the 12 previous months, excluding reasonable compensation paid to a director as a director, and (2) any one of a defined range of relatives of such a person.
Schedule L (Form 990) is used by an organization that files Form 990 or 990-EZ to provide information on certain financial transactions or arrangements between the organization and a disqualified person(s) under section 4958 or other interested persons.

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