Schedule B reports information about significant donors to your organization. You’ll have to file this schedule if any individual donors gave more than $5,000 during the year or, for certain organizations, the greater of $5,000 or 2% of your contribution revenue. To determine which donors meet this threshold, add up all donations they made, even if it was tangible property instead of money. You can disregard separate and independent gifts under $1,000. Also leave out fees paid for services performed, or for purchasing goods you sell.
Note that, unlike other parts of your Form 990, a portion of the information reported here may not be open to public inspection. If you’re filing a Form 990-PF (for foundations), of if you’re a section 527 political organization filing a Form 990 or 990-EZ, the entire schedule will be open to public inspection. For all other organizations, you aren’t required to make the names and address of donors available. Everything else, including the dollar amount of contributions and descriptions of non-cash donations, are open to public inspection, unless they would clearly identify the donor. Additionally, if you file the Form 990 with your state, don’t include the Schedule B unless you’re specifically required to, since the state may mistakenly make it publicly available with the rest of your Form 990.
The general rule for the Schedule B is to report donors who gave $5,000 or more. There’s a special rule for certain 501(c)(3) organizations that only need to report donors who gave 2% or more of total contribution revenue (Form 990 Part VIII line 1h, or Form 990-EZ Part 1 line 1). For example, if you have $500,000 of contribution revenue, you would only need to report donors who give at least $10,000 during the year. To use this rule, you have to fall under sections 509(a)(1) and 170(b)(1)(A)(vi) – you would have filled out Part II of Schedule A – and meet 1 of 2 criteria:
- Meet the 33 1/3% test OR
- Be in your first 5 years as an organization – you would have checked the box on line 13 of Part II of Schedule A
In Part I, you’ll list each donor who meets the $5,000/2% rule. In column A, start with 1 and number each donor sequentially. In column B, you can only identify a donor as anonymous if you don’t know his/her identity. In column D, check all boxes that are applicable for contributions made by that donor. Use Person for cash donations not made through payroll deductions, Payroll for those made through payroll deductions, and Noncash for anything contributed that wasn’t money, including securities. Note that donated professional services and use of equipment or facilities are not reported on the Form 990.
In Part II, list each noncash donation you received. In column A, use the number corresponding to the donor in Part I. In column C, use the readily determinable fair market value of the donation if one is available, e.g. the market price of a security. If it’s no readily determinable, use an appraised or estimated value. If a donation is subject to debt, subtract the amount of debt from the fair market value.
Schedule B can be found here, and more detailed instructions for filling it out are provided below the form itself.