Form 990 Schedule L, Part II

Part II of the Schedule L reports loans between your organization and interested persons (IPs), whether your organization is making the loan to the IP, or the other way around. The definition of IP used in Part II of Schedule L is different from the definition used in...

Form 990 Schedule L, Part I

Schedule L provides additional information about financial transactions with interested persons. It’s important to note that Part I uses one definition of “interested persons,” and Parts II – IV use a second definition. Part I uses the definition under section 4958,...

Form 990 Schedule J, Part II

In a previous post, I covered Part I of Schedule J. If you’re required to submit Schedule J, you fill out Part I for anyone listed in Part VII, Section A of the main Form 990 (“listed persons”). In Part II of the Schedule J, you only report a subset of listed persons,...

Form 990 Schedule J, Part I

Schedule J of the Form 990 expands on Part VII, Section A of the main part of the form and gives more detailed compensation information for certain officers, directors, trustees, key employees, and highly compensated employees. There are 3 situations that can trigger...