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Form 990-PF Schedule B - Schedule of Contributors

- Updated April 10, 2020 - 8.00 AM - Admin, ExpressTaxExempt

Generally, Private Foundation uses this schedule to provide information on contributions they reported on Form 990-PF.

The following are the topics that will be more specific to Schedule B.

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1. What is Form 990-PF Schedule B?

The Form 990-PF Schedule B is used to report the tax-deductible and non-tax-deductible contributions made to organizations

  • including 501(c)(3) exempt private foundations,
  • 4947(a)(1) nonexempt charitable trusts treated as a private foundation, and
  • 501(c)(3) taxable private foundations.

2. Who must attach Schedule-B with Form 990-PF?

Private Foundations must attach a schedule B if the organization receives a contribution from a person who contributed more than the greater of $5,000 or 2% of $700,000 ($14,000) during the tax year.

3. What are the accounting methods for Form 990-PF?

There are three accounting types,

  • Cash,
  • Accrual, or
  • Other

Private foundations must report the required financial information based on the accounting method that they regularly use to maintain their books and records.

4. What Contributions are Reported on Schedule B?

Each contributor that provides the private foundation with money, securities, or other types of property totaling $5,000 or more during the tax year must be reported on Form 990-PF Schedule B.

5. What Contributor Information should be reported on Schedule B?

The information below must be required to report on Schedule B.

  • Name, address, ZIP Code
  • Total amount of contributions for the current tax year
  • Type of contribution
    • Cash contribution other than payroll,
    • Cash contribution through a payroll deduction,
    • Noncash contribution
  • If the type of contribution is non-cash, report additional
    • Information including a description of the non-cash property,
    • Fair market value of the property contributed.
      If the fair market value can not be determined, report the appraised value or estimated value of the property.
  • Regarding the gift’s purpose
    • How is the gift held?
    • Who is the transferee of the gift?
    • What is the relationship between the transferee and the transferor?

6. How to attach Schedule B to your 990-PF?

If you are required to enter contributor information on your Form 990-PF, you must attach Schedule B. If you choose to paper-file 990-PF, you must download and complete Schedule B and send it to the below address.

Department of the Treasury
Internal Revenue Service Center
Ogden, UT 84201-0027

If the organization's principal business, office, or agency is located in a foreign country or U.S. territory, mail it to the below address:

Internal Revenue Service Center
P.O. Box 409101
Ogden, UT 84409

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Our Software provides the clear instructions to file your Form 990-PF. When you start entering the information on Form 990-PF, our software will generate Schedule B automatically based on the information you provided.

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After completing the Form information, Invite your organization board members to review your 990-PF before transmitting with the IRS.

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