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Growth Exchange

Understanding the SKC 990 Questionnaire

990 EZ vs. Full 990

Part I Summary (Page 1 of 990)

Line 1: Briefly describe the organization’s mission or
most significant activities


– Can be more descriptive than the mission statement

Part III Program Service Accomplishment (Page 2)

•Line 1: Board approved mission statement
•Line 2-3: Significant Changes during the year. If yes,
what changes were made
•Line 4: Program service accomplishments for all
program areas:
– Brag on yourself
– What impact did you have
– Include numerical data (people served, # of services provided,
volunteer hours, etc.)

Part IV Checklist of Required Schedules (Page 3-4) • Line 4: Did you lobby? • Line 10: Do you have endowments? • Line 12: Did you have an audit? • Line 15-16, 21-22: Did you grant or give assistance of $5,000 or more? • Line 18: Did you have a special event with gross income over $15,000 • Line 25-28: Were there any related party transactions?

Part IV Checklist of Required Schedules (Page 3-4)

• Line 34: Was the organization related to any tax-exempt
or taxable entity?
   – Relationships:
•Parent/subsidiary
•Brother/sister
•Sponsoring organization of/or contributing employer to a VEBA
•Supporting/supported organization
   – Entity is or has control and ability to make decisions or electing board members

Part V Statement Regarding Other IRS Filing and Tax
Compliance (Page 5)

•Line 1-2: Did you file your 1099s and W2s?
•Line 3: Did you have any unrelated business income and did you file a 990T?
•Line 7: Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payer?

Part VI Section A – Governing Body and Management (Page 6) •Line 1: Number of voting members at the end of your fiscal year and how many were independent? •Line 2: Any family or business relationships? •Line 4: Any significant changes to governing documents? •Line 6-7: Members or stock holders? – Stock holders: Not applicable for SKC clients – Members: Non-board members who elect board members and/or approve board •Line 8a: Were minutes taken at board meetings? •Line 8b: Were minutes taken at committee meetings?

Part VI Section B – Policies (Page 6)
• Line 11: How will the 990 be reviewed by the board?
• Line 12: Is there a conflict of interest policy and how is it
monitored?
• Line 13: Is there a whistleblower policy?
• Line 14: Is there a document retention and destruction
policy?
• Line 15: How is compensation determined for the CEO
and other top management?

Part VI Section C – Disclosure (Page 6)
• Line 18-19: How can someone access your 990 and
financial documents
   – Best practice for 990 to be on your website
• Line 20: Who possesses the books? Not SKC.

Part VII Compensation Section A (Page 7-8)

• List of board members during the year
    – Make note if they did
not serve all of the year
• How many hours a week devoted to their position
• Reportable compensation
   – W2 or 1099 wages
   – W2 or 1099 wages from related organization
   – Other compensation: Health and retirement benefits

Part VII Compensation Section B (Page 7-8) • Did any independent contractors make more than $100,000 during the year?
Part XII Financial Statement Reporting (Page 12) • Line 2a: Did you have a review? – SKC does not qualify • Line 2b: Did you have an audit? • Line 2c: If yes to a or b do you have a committee to oversee the review or audit? • Line 3: Did you have a single audit?

Taking a look at the questionnaire

Schedule A and B – Donor Advised Funds (DAF)

• DAF Examples
    – GKCCF
    – American Online Giving Foundation
    – Bank of America Charitable Gift Fund
    – Catholic Community Foundation
    – Fidelity Charitable Gift Fund
    – Schwab Charitable Fund
    – Jewish Community Foundation
    – The Signatry

Schedule A and B – Donor Advised Funds (DAF)

• Report total for each DAF
    – Example:
• GKCCF Smith Family Foundation $1,000
• GKCCF Curfman Family Foundation $4,000
• Schedule A and B Reports – GKCCF $5,000
• Donors from multiple sources reported separately
    – Example:
• Lindsey Curfman $5,000
• GKCCF Curfman Family Foundation $5,000
• Schedule A and B Reports – GKCCF $5,000 and Lindsey Curfman
$5,000

Schedule A

• Schedule A – Public Charity Status and Public Support
     – Are you supported by the public?
    – Database or consistent method for tracking donors
    – Contributions: monetary or in-kind goods

• FMV not included

Schedule A

• Schedule A – Public Charity Status and Public Support
    – Part II:

• 5 year rolling total for largest contributors
• DAF’s and public charities and government agencies are excluded

Schedule A

• Schedule A – Public Charity Status and Public Support
    – Part III –
• Major donors from inception
• Substantial Contributors
    – Once a substantial contributor always disqualified
    – Gave more than 2% of total cont ributions to the organizations
• Disqualified persons – Any person who is in a position to exercise substantial influence over organization and supporting organization.
    – Examples: Board members, CEO, CFO, DAF
    – Includes, family of disqualified persons or entities controlled by disqualified persons
    – Only excluded for as long as they server or have control over the organization.
    – No threshold for donations

Schedule B

• Schedule B – Schedule of Contributors
    – Listing of largest donors
    – Donors over $5,000 or 2% of tot al contributions for the year (which ever is larger)
    – Contributions: monetary or in-kind goods

• FMV not included
    – Address of donors

Tips for Filling Out Questionnaire

• Review last years questionnaire and 990 as you are filling it out.
• Are you consistent between years?
• Use the help or reach out to 990 preparer if you don’t know what the question is asking.

List of items SKC needs

• Completed 990 questionnaire
• Program services accomplishments
• Listing of board members and hours per week devoted to their position
• Donors over $5,000 with addresses
• Listing of all donations disqualified persons (no threshold) – Schedule A Part III

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