Form 990 Schedule G

Introduction

Schedule G is generally filed by non-profits and exempt organizations to report professional fundraising services, fundraising events, and gaming activities conducted for the tax year.

In this resource guide, we aim to brief on Schedule G, providing valuable insights into its purpose, the entities obligated to file, the filing requirements, and addressing common queries.

What is Schedule G?

Schedule G, Information Regarding Fundraising or Gaming Activities is a supplementary schedule filed annually by tax-exempt organizations to provide detailed information about fundraising events and gaming activities they organized for the tax year

This schedule seeks details on the revenue, expenses, and net income associated with these events, providing a comprehensive overview of the organization's financial landscape.

Who must file Schedule G?

Tax-exempt organizations engaging in fundraising events or gaming activities must file Schedule G as part of their annual reporting. This requirement extends to entities falling under section 501(c) of the Internal Revenue Code.

If your organization conducts activities such as auctions, charity events, bingo nights, or any other fundraising endeavor, Schedule G becomes a vital component of your annual reporting requirements.

Schedule G Filing Requirements

All tax-exempt organizations that file Form 990 or 990-EZ returns must complete and attach Schedule G along with their annual information return.

Below, we have provided Schedule G filing requirements for each part.

Part I - Fundraising Activities

To complete this section, the organization must provide information about the Fundraising Activities conducted for the tax year.

Check the box on the right against each fundraising method used by the Nonprofits and tax-exempt organizations to raise funds during the tax year.

Add fundraiser or individual details like name, address, activity, gross receipts, and the amount paid to the fundraiser if the organization had a written or oral agreement with another person or entity in connection with professional fundraising services.

Also, list the states in which the organization is registered or licensed to solicit contributions or has been notified that they are exempt from such registration or licensing.

Part II - Fundraising Events

There are two sections in part II - Revenue and Direct Expenses of the Fundraising Events.

To complete this section, enter the top two fundraising events conducted by the organization with gross receipts greater than $5,000.

Revenue Details:

Enter the following details for the fundraising events

• Gross receipts
• The total amount of contributions, gifts, and similar amounts received by the organization for fundraising events.
• Finally, enter the gross income from events listed without reduction for catering, entertainment, cost of goods sold, compensation, fees, or other expenses.

Direct Expenses Details:

Enter the following details for the fundraising events

• The total amount paid out as cash and noncash prizes, the amount spent on rent, entertainment, food and beverages, and other direct expenses.
• Finally, enter the net income from the fundraising events.

Part III - Gaming

To complete this section, enter the revenue and expenses of the games conducted by the organization for the tax year.

Also, the Organization should provide the state details in which the organization conducts gaming activities, Gaming manager information, and more.

Part IV - Supplemental Information

The organization can make use of this Part to provide the required explanations, if applicable, to supplement responses to various questions asked in Form 990 and 990-EZ return.

Choose TaxZerone to complete your Schedule G filing

TaxZerone is your trusted IRS-authorized e-file service provider. With us, experience the magic of seamless filing experience and get instant updates on your filing status. At TaxZerone, we're not just about e-filing; we're about making the entire process effortlessly smooth!

Our expert assistance is not just a promise; it's a guarantee. From start to finish, we ensure to guide your e-filing experience with ease, armed with the support you need.

Here's how your Form 990/990-EZ return with Schedule G attachment is transmitted to the IRS in 3 simple steps!

1. Provide Organization Details - Choose the tax year for which you want to file a return, and provide your organization's details.
2. Preview the Return - Complete Schedule G and preview the information provided in the return for accuracy before transmitting.
3. Transmit to the IRS - Transmit Schedule G along with your 990/990-EZ return to the IRS and get the acceptance in just a few hours.

And here's another WOW thing about us – should the IRS happen to reject your information return, fear not! TaxZerone makes sure you can rectify the errors and retransmit your form back to the IRS, all free of cost!