A Short Form Return Of Organization Exempt From Income Tax Form Under Section 501(C: Fill & Download for Free

Private Foundations file a Form 990PF. Public Charities file a Form 990. Both may need to file a Form 990T if they have Unrelated Business Taxable Income (UBTI).The Form 990PF is filed on the 15th day of the 5th month following the year end of the foundation. For a December 31 year end foundation, it would file by May 15th of the following year. The Form 990PF filing deadline can be extended for 3 months and then for another 3 months. Many private foundations have fiscal years that are different from the standard calendar year.What is Form 990 or 990-PF? How can I learn about using them?The Form 990PF and Form 990 are governed by IRS Disclosure Regulations.https://www.irs.gov/charities-non-profits/public-disclosure-and-availability-of-exempt-organization-returns-and-applications-public-disclosure-overviewPublic Disclosure and Availability of Exempt Organizations Returns and Applications: Documents Subject to Public DisclosurePublic Disclosure and Availability of Exempt Organizations Returns and Applications: Documents Subject to Public DisclosureWhat tax documents must an exempt organization make available for public inspection and copying?An exempt organization must make available for public inspection its exemption application. An exemption application includes the Form 1023 (for organizations recognized as exempt under Internal Revenue Code section 501(c)(3)), Form 1024 (for organizations recognized as exempt under most other paragraphs of section 501(c)), or the letter submitted under the paragraphs for which no form is prescribed, together with supporting documents and any letter or document issued by the IRS concerning the application. A political organization exempt from taxation under section 527(a) must make available for public inspection and copying its notice of status, Form 8871.In addition, an exempt organization must make available for public inspection and copying its annual return. Such returns include Form 990 , Return of Organization Exempt From Income Tax,Form 990-EZ , Short Form Return of Organization Exempt From Income Tax, Form 990-PF, Return of Private Foundation, Form 990-BL , Information and Initial Excise Tax Return for Black Lung Benefit Trusts and Certain Related Persons, and the Form 1065 , U.S. Partnership Return of Income.A section 501(c)(3) organization must make available for public inspection and copying any Form 990-T, Exempt Organization Business Income Tax Return, filed after August 17, 2006. Returns must be available for a three-year period beginning with the due date of the return (including any extension of time for filing). For this purpose, the return includes any schedules, attachments, or supporting documents that relate to the imposition of tax on the unrelated business income of the charity. See Public Inspection and Disclosure of Form 990-T for more information.An exempt organization is not required to disclose Schedule K-1 of Form 1065 or Schedule A ofForm 990-BL. With the exception of private foundations, an exempt organization is not required to disclose the name and address of any contributor to the organization.A political organization exempt from taxation under section 527(a) must make available for inspection and copying its report of contributions and expenditures on Form 8872, Political Organization Report of Contributions and Expenditures. However, such organization is not required to make available its return on Form 1120-POL, U.S. Income Tax Return for Certain Political Organizations.Most Forms 990 and 990PF are available on Guidestar a short time after they are filed with the IRS. Some Schedules attached to the Forms are not subject to public disclosure.GuideStar nonprofit reports and Forms 990 for donors, grantmakers, and businesses

Gun control & Right to bear arms ?…I am for both of them….The right, to expect the safe control ,and sensible sale of dangerous weaponry….. Resulting in sensible, safe, ownership by those who wish to own it.Busy promotion, of the unsafe sale and use of guns.I am against “Gun Lobby” organisations like the NRA, making financial gain as a result of using fear to control those sales. Whilst influencing the government, with the use of threats, of the removal of financial support, to those who wish to control their profits and political influence. A regrettable form of power in itself.UPDATE…14/05/19…All that I hope for, is the safe and sensible control of the arms being sold, the amount sold, and who they are sold to. Regardless of who sells what, to whom, for how much. Obviously, to declare yourself to be anti-gun, and to then make lots of money out of selling them, as some anti gun people have been accused of doing, if true, is not acceptable, and morally indefensible..Having served in the armed forces, I have a very healthy respect of all forms of weaponry. Especially those which can be owned by people with doubtful to even sometimes no acceptable experience of the weapons they own.I am pleased to hear of the slump in sales, since Mr Trump became President. But I have many doubts regarding any direct connection between any legislation of his, and the drop in sales. Or positive attitudes of his towards safe gun sale control, following his lack of tangible action taken or interest shown, following the latest round of gun murders…Most of them being teenagers at school. so it may well be more to do with the peoples attitudes towards gun control changing, rather than any change in attitude of Mr Trumps.I have no wish to see all gun sales stopped, realising that being realistic, it is never going to happen. it’s an ingrained part of the American Psych…All I wish to see happen, is for those selling these weapons, to take more sensible responsibility for their sales. Whilst limiting the amount of financial support for political parties (whoever they may be) to also limit their control over politicians like Mr Trump.In America it is Guns…In Britain it is Knives…Both being a shortcut to death, if brought and used by the wrong people.Sensible sales and control of all weapons which can kill if in the wrong hands, is the only answer…There is no short cut to safety. As for protection of the individual, It should be left to the people trained to do just that.Marylene Dinliana, 18, holds a sign that reads, "Stop Spilling Our Blood" during a protest against guns on the steps of the Broward County Federal courthouse in Fort Lauderdale, Fla., on Saturday, Feb. 17, 2018. Associated Press/Brynn Anderson“On February 14, gunman Nikolas Cruz killed 17 people at Marjory Stoneman Douglas High School in Parkland, Florida. The shooting swiftly reinvigorated a national debate on gun control, with the teenage survivors”“leading the charge on demands for reform. The backlash has centred on the National Rifle Association (NRA), an organization that promotes gun rights in the United States. As multiple news outlets have noted, the NRA has become a strong political force, due largely to its political donations and millions of members.”“One big way that the NRA retains its members is through discounts on everything from car insurance to hotel rooms. Dozens of American companies have partnered with the NRA to offer special perks to members. On the NRA membership benefits page, it stresses the "access to hundreds of dollars in savings" as a reason to join the organization.”Yes…”It’s the guns that kill”…Without them, the gunman has one less weapon to kill with. using his fingers, to pull an invisible trigger will kill nobody.It’s only a dream I know…But wouldn’t it be just wonderful, if we could remove guns and knives from our shopping list ?.FACTS WHICH MIGHT SURPRISE YOU ABOUT THE NATIONAL RIFLE ASSOCIATION…Surprisingly, the NRA is registered as a non-profit making, Tax exempted organisation…An organization like the NRA, is allowed to engage in political lobbying and advocacy, but this cannot be its main activity, and it must be related to the group’s primary mission and the issue upon which its tax exemption is based, according to the IRS. Social welfare organizations may also get involved in political campaigns and elections, provided their involvement is related to the group’s mission, and again, only if this does not constitute their primary activity.Critics of the NRA have claimed, that the organization’s tax exemption should be taken away, because, roughly speaking, the NRA spends less time and money providing a genuine service to the public at large than it does on political lobbying, and because the NRA’s activities benefit the private gun industry.In its 2015 tax return, the NRA described its mission as “Firearms safety education and training and advocacy on behalf of safe and responsible gun owners.” In April 2016, the Coalition to Stop Gun Violence published a report on this very issue, labelling the NRA “a tax-exempt [organization] loaded with private interest.” The authors — attorney Alexandra O’Neill and financial analyst Daniel O’Neill — wrote:…The majority of the NRA’s lobbying, education, training and publication activities operate to benefit a private interest: the firearms and ammunition industry. As a result, under the cases and rulings interpreting section 501(c)(4), the NRA does not primarily serve the community interest and should not qualify as a tax-exempt social welfare organization.Instead, the NRA should operate as a political lobbying organization to be accountable for its key interests: the firearms and ammunition industry.A spokesperson for the NRA rejected this, telling us in an e-mail that the group’s legislative lobbying was “textbook social welfare activity,” and that any benefits that accrued to gun manufacturers from the NRA’s activities were “incidental”:The assertion that the NRA is not operated for tax-exempt purposes is false because legislative lobbying to protect the Second Amendment freedoms of Americans is social welfare activity. The defence of civil rights secured by law is textbook social welfare activity, regardless of the size and extent of such activity….It was established in case law, the spokesperson argued, that “occasional” private financial benefits resulting incidentally from a non-profit group’s activities are allowed:Just as newspapers and other information sources incidentally benefit from the ACLU’s advocacy about the First Amendment, gun manufacturers incidentally benefit from the NRA’s advocacy about the Second.Published 23 February 2018By Dan MacGuillFiled Under gun control, gun lobby, gun rights.sources Reilly, John Francis; Braig Allen, Barbara A. “Political Campaign and Lobbying Activities of IRC 501(c)(4), (c)(5) and (c)(6) Organizations.”Internal Revenue Service. 2003National Rifle Association of America. “Form 990 — Return of Organization Exempt From Income Tax, 2015.”ProPublica. 2016.O’Neill, Alexandra F.; O’Neill, Daniel P. “The NRA, a Tax-Exempt Loaded With Private Interest.”The Coalition to Stop Gun Violence. April 2016.Perhaps the time has come for both sides to work together, in producing a more healthy gun environment. to allow people to feel both secure, and safe. Instead of shouting, and accusing each other, they need to work together to produce sensible, and workable control of these mechanical merchants of death.

In the Summer 2019, the Center for Art Law hosted its first charitable auction, during which it considered: how can artists and donors receive tax benefits for donating artworks to a non-profit organization? As it turns out, the answer is a bit lengthier than one might expect.The Current Legal LandscapeThe Tax Cuts and Jobs Act of 2017[1] brought about large changes to all areas of taxation, deductibles included—as a reminder, if something is tax deductible it means that its value can be subtracted from the taxpayer’s legally taxable income. Due to this broad reform, publications pertaining to tax code are now outdated if not obsolete (including this previous publication by the Center on the topic). For a recent guide on the subject of art donations as deductibles please see IRS Publication 526 (2018), Charitable Contributions, which summarizes the Internal Revenue Code Section 170: Charitable, etc., contributions and gifts. Intended as a general guide (and not as a checklist), this article focuses on these IRS publications, highlighting pertinent sections of the tax code for artists, collectors, and donors interested in giving charitable donations of artworks.Condition 1: Artists ExcludedProfessional artists—i.e. artists who can demonstrate having gained a profit from their artworks—can generally deduct the cost of materials used to create an artwork from their taxable income as a business expense rather than a charitable donation. Since the IRS considers this artwork to be a self-created asset, artists can claim materials needed to produce their original creative work, such as paints, brushes, canvases and frames, as business-related expenses on their federal tax returns (IRS Form 1040 Schedule C). It should be noted that nontraditional materials, whether they be bottle caps or barbed wire, can also be deducted, although the time and physical labor put into constructing an artwork cannot be; for a charcoal sketch that took hours to make, an artist can only deduct the charcoal and paper costs. With these provisions, artists only pay taxes on their profit, not their total revenue. However, the IRS does not allow “double-dipping,”. Therefore, if an artist has already deducted materials under Schedule C, they cannot list them again as a charitable expense for a donated artwork.In short, an artist, if donating directly to a foundation, cannot receive a tax deduction for an artwork he or she has created. According to the Internal Revenue Code Section 170 titled “Charitable, etc., contributions and gifts”,[2] where property is donated, the deduction must exclude the “amount of gain which would not have been long-term capital gain.” That is to say, one can only deduct a contribution that is a long-term capital gain, for example, property that has been owned for over a year and is then donated. In the case of professional artists, however, donations of their artwork constitute neither a short nor long-term gain. Instead, artwork is thought of as the professional artist’s trade, and it is thus treated as income by the IRS. The IRC thus prohibits artists from donating their own work for tax deductions.In the case of a collector donating artwork to a nonprofit, if the artwork and the receiving organization fulfill the requirements, the work’s former owner may be able to deduct the fair market value of the artwork from their taxable income. This introduces a further condition.Condition 2: Determining the Fair Market ValueWhen filing for deduction, the donor must determine the “fair market value” of the artwork. This requirement introduces a new set of guidelines and terms related to the appraisal of the piece. As per the IRS definition, the fair market value is the price that the artwork would sell for on the open market on the date of its contribution.[3] The value must reflect the price that would be agreed upon by a willing buyer and a willing seller, with neither being required to act and both having reasonable knowledge of the relevant facts. For works valued at $5,000 or more, a written appraisal by a qualified appraiser is required. To be a qualified appraiser, one must have earned appraisal designation from a recognized organization and met education and experience requirements, i.e. is certified for the property in question or has completed college or professional-level coursework relevant to the property being valued. Also, the appraiser must work regularly and cannot have been prohibited from practicing before the IRS under section 330(c) of title 31 of the United States Code. The Official Museum Directory of the American Association of Museums has a list of qualified appraisers for reference.Appraisers can be expensive, and generally, appraisal fees cannot be deducted. In select cases, however, appraiser fees can qualify as a miscellaneous deduction, subject to a 2% limit, on Schedule A (Form 1040) if they were paid to determine the amount allowable as a charitable contribution. The selected appraiser must write an appraisal that meets the relevant requirements of Regulations section 1.170A-13(c)(3) and Notice 2006-96, 2006-46 I.R.B. 902 and attach Form 8283, Section B, Part II to the former owner’s tax returns.Condition 3: Related Use Requirement*Before one can deduct the now appraised fair market value of the artwork, a collector must make sure that the donation itself fulfills some requirements. As the IRS outlines, a donor cannot deduct the artwork as a charitable contribution if the piece is a contribution to a specific individual, nor can the contribution benefit the donor directly.The most specific requirement, and the most taxing to fulfill, is the “related use” condition. A donor of art can deduct the fair market value of the artwork from their taxable income if the donation was put to a “related use” by the nonprofit (e.g. if the art was received by an art institution and is used an educational tool, then it’s “related use”). However, if the use if “unrelated” to the nonprofit’s mission, the donor must deduct the lesser of either the fair market value or the original value of the work.Therefore, the IRS mandates that one cannot deduct the fair market value of a piece of property if the donated work is then put to “unrelated use” and its original value is less than the fair market value.Within the related use clause, it is also underscored that the artwork must be put to relevant use for at least one year before the receiving organization sells, trades, or otherwise disposes of the property. Likewise, for works over $5,000, the donee must retain it for three years; otherwise, the donor must recapture part of his or her charitable contribution deduction by including it in income. For the Center’s purposes, this means that the artists and collectors that donated artworks to our auction are unfortunately not eligible to receive a tax deduction for the fair market value of their pieces since the Center sold the artworks within a year of receiving them for “unrelated use” to the Center’s mission.Condition 4: Donation to a Fully Qualified 501(c)(3) OrganizationIn addition to fulfilling these requirements, the donated artwork must also have been a contribution to a fully qualified organization before it can be deducted. A fully qualified organization must be a 501(c)3 as determined by the government– you can check the exempt organization database to see a charity’s 501(c)3 status. All charities that have received 501(c)3 status are non-profit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty to children or animals.[5] Once the donor has ascertained that the receiving organization is a qualified non-profit, the charity must issue the donor a statement that declares that it did not exchange any goods or services for the donation.Effect and DeductionIf the charity and donation meet all these requirements, in most cases the donor can deduct the fair market value of the property at the time of the contribution. For the most part, the deduction for charitable contributions generally cannot be more than 60% of the donor’s adjusted gross income (which is the gross income minus adjustments and deductions to that income). From there, collectors must file a Schedule A (Form 1040) with their tax forms to deduct donations. If the donor wants to deduct a non-cash donation, as is the case with art, form 8283 is also required. All filings must be done within the year the contribution was made.By following these steps, a successful deduction can be possible, yet the strict regulations with which collectors must comply may deter these donors from giving to charities. The best approach as a collector would be to make a contract with the selected organization to guarantee that they will fulfill the conditions set by the IRS. Otherwise, count on cash donations to non-profit organizations for easy deductions and be very selective in choosing charities to which you donate your artwork. Many charities, and the ones that may need art donations the most, will not be able to meet the prerequisites for a deduction. In this case, make sure to set a budget for how many artworks you will donate and remember that donating a non-deductible piece of artwork could be a small loss for you but a massive gain for an organization.