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Form 990-EZ

Form 990-EZ. Who should file the Form 990-EZ?. For 2009 , PTA chapters with gross receipts less than $500,000 and total assets less than $1,250,000 should file the Form 990-EZ.

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Form 990-EZ

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  1. Form 990-EZ

  2. Who should file the Form 990-EZ? • For 2009, PTA chapters with gross receipts less than $500,000 and total assets less than $1,250,000 should file the Form 990-EZ. • For 2010 and later years, PTA chapters with gross receipts less than $200,000 and total assets less than $500,000 should file the Form 990-EZ. • If the PTA chapter normally has gross receipts of $25,000 or less, submit Form 990N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990-EZ. • If the PTA chapter does not meet any of these requirements, must file a Form 990.

  3. 990-EZ Filing Instructions • File Form 990-EZ by the 15th of the 5th month after the accounting period ends. (PTA chapters with accounting periods ending on December 31st should file by May 15th). A three-month automatic extension can be granted by filing Form 8868. • Send the completed Form 990-EZ to: Department of the Treasury Internal Revenue Service Center Ogden, UT 84201-0027

  4. General Information Needed - Page 1 (see PTA / SAMPLE on next slide) • Legal Name of Organization • Mailing Address • Organization’s Employer Identification Number • Local Website (if applicable) • Organization type – typically will be 501(c)(3) • Accounting method – cash or accrual (do you account for receivables and payable? – if not, then “cash”) • Item H – Check if NOT required to attach Schedule B (did not receive a significant contribution – $5,000 or more – from a single contributor)

  5. SAMPLE Local PTA Page 1

  6. Page 1 – Part I – Revenue • Line 1 – Total contributions, gifts, grants, and any similar voluntary donations received (do not include services donated) • Line 2 – Revenues received from program services provided • Line 3 – PTA Membership dues • Line 6 – Revenue, expenses, and net income from special events held by the local PTA (examples of special events: dinners, raffles, carnivals, and bingo games)

  7. Page 1 – Part I – Expenses and Net Assets • Line 16 – Provide a listing of Expenses not included in Lines 10-15 as an attached list with total that agrees to Line 16. • Line 19 – Must agree to prior year amount in Balance Sheet Amount (Part II) • Line 21 – Must total and must agree to current year amount in Balance Sheet – Line 27

  8. Page 1 – Part II - Balance Sheets • Column A – Beginning of year: These amounts should agree to the prior year Column B – End of Year balances • Column B - Line 27 must report the same net asset balance as Line 21 • Line 22 – Enter total of all Bank, Investment, and Petty Cash balances • Line 24 and 26 – If cash basis of accounting, then typically these have no balances. If accrual basis of accounting, then add schedule with other assets and liabilities.

  9. Page 2 – Part III Program Service Accomplishments(See PTA / SAMPLE on next slide) • “What is the organization’s primary exempt purpose?” • If the PTA chapter has a formal mission statement, provide the mission statement here. If the local PTA does not have a formal mission statement, use “Parent / Teacher Association.” • “Describe what was achieved in carrying out the organization’s exempt purposes.” • In the space provided, briefly describe the programs provided by the local PTA. Then list the expenses incurred for those programs, which should match the total expenses on Page 1.

  10. SAMPLE Local PTA Page 2 If the local PTA’s mission statement is longer than the space provided, attach a statement to the back of the Form 990-EZ that provides the full mission statement.

  11. Page 2 – Part IV List of Officers, Directors, Trustees, and Key Employees • Officer - a person elected or appointed to manage the local PTA’s daily operations (President, VP, Secretary, or Treasurer) • Director or Trustee – a member of the local PTA’s governing body that has voting rights • Key employee – a person having responsibilities similar to those of officers, directors, or trustees • Use the address of the organization in column (a) and estimate the average hours devoted to the position each week in column (b). Enter compensation, if any, or zeros in columns (c) – (e).

  12. Page 2 – Part IV List of Officers, Directors, Trustees, and Key Employees – Cont’d Note: If compensation was paid, be consistent with prior year compensation reporting method – either: • Use Calendar Year W-2 / Form 1099-Misc amounts for the year ended within the current fiscal year (col. (e) left blank), or • Use the actual amounts paid during the current Fiscal Year (col. (e) may be applicable).

  13. Page 3 – Part V Other Information(See PTA / SAMPLE on next slide) • Read and answer each item. In most cases, the answer will be “No.” • Line 42 – List the Treasurer’s name and the organization’s telephone number and address. If there is not a treasurer, provide the contact information for whomever maintains the local PTA’s accounting records.

  14. SAMPLE Local PTA Page 3

  15. Page 4 – Part VI – Section 501(c)(3) organizations only(See PTA / SAMPLE on next slide) • Provide answers for lines 46-51. In most cases, the answers will be “No” or “None.” • Signature of Officer – This officer can be the President, VP, Treasurer, or chief accounting officer. • Preparer’s signature – This should only be signed if the return was prepared by a paid preparer not affiliated with the local PTA.

  16. SAMPLE Local PTA Page 4

  17. Is the PTA chapter required to attach Schedule A or Schedule B? • Schedule A: If the local PTA is a 501(c)(3) organization (probably), then Schedule A must be attached to Form 990-EZ. • Schedule B: If the local PTA received a voluntary contribution from any individual or another organization in an amount greater than $5,000 or 2% of the amount listed on Line 1 of Form 990-EZ, then Schedule B must be attached to Form 990-EZ (unlikely).

  18. Schedule A(See PTA / SAMPLE on next slides) • Part I - Reason for Public Charity Status: Read through the list and check only one type of organization that applies to the local PTA (typically will be #9). • Complete Part II or Part III, depending on which type of organization was selected in Part I. (Note: If #9 was selected, complete Part III.) Provide the public support and total support for the years listed in the table. The current year column (e) should agree to the revenues reported on Page 1. • Compute percentages and answer questions in Section C and Section D (typically box 19a will be checked).

  19. SAMPLE Local PTA Schedule A Part I

  20. SAMPLE Local PTA Schedule A Part III

  21. Schedule B • If the box on Line H of Page 1 was not checked (unlikely), then Schedule B must be completed. • General Rule – Check this box • If applicable (probably not) – List the name, address, total contribution amounts and the type of contribution (cash or noncash) for each contributor who donated the greater of $5,000 or 2% of Page 1, Line 1. If the contributor donated non cash items, complete Part II.

  22. Schedule G(See PTA / SAMPLE on next slides) If the local PTA reported more than $15,000 from fundraising events and/or gaming activities during the year on Page 1, Line 6a, Schedule G Parts II and III must be attached to Form 990-EZ. • Part I –N/A. • Part II – Fundraising Events: List events across the top if greater than $5,000 in revenue, and then include the amounts of receipts and expenses for each event. (examples of events: dinners, raffles, carnivals, bingo games) • Part III – Gaming Activities: Similar to above, but only if more than $15,000. Also, on Line 14, provide the contact information for the person who maintains the records from these events.

  23. Not required: less than $5,000 SAMPLE Local PTA Schedule G Part II and III

  24. Disclaimer and Contact Info The information provided in these slides is intended to provide general guidance for a local PTA affiliate and is not intended to be a complete guide to the preparation of Form 990 EZ. Consider consulting with your tax advisor during the preparation of Form 990 EZ or other returns. CBIZ is the tax preparer for the National PTA and can be of service to local PTA affiliates as well. If you have questions regarding the information contained herein, or if you would like additional guidance, please contact: Carole Budyak @ 312-602-6830 or cbudyak@cbiz.com

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