Form 990 Schedule I

Introduction

Schedule I, Grants and Other Assistance to Organizations, Governments, and Individuals in the United States focuses on providing information on grants and other forms of assistance provided by tax-exempt organizations to other entities or individuals within the United States. This schedule is crucial for providing transparency regarding charitable giving and community support activities.

In this resource guide, we will learn about the key aspects of Schedule I, from its purpose to filing requirements and commonly asked questions.

What is Schedule I?

Schedule I, is a supplementary form attached to Form 990, Return of Organization Exempt from Income Tax. It is designed to gather information about grants and other forms of assistance provided by tax-exempt organizations during the tax year to domestic organizations, domestic governments, and domestic individuals.

It focuses specifically on detailing an organization's grantmaking activities and any other financial assistance they offer. This includes cash grants, scholarships, stipends, non-cash contributions, and similar support provided to domestic organizations, governments, and individuals.

Who must file Schedule I?

An organization filing Form 990 must complete Schedule I if they answer "Yes" to either of the following questions on Part IV, Checklist of Required Schedules of the main Form 990:

• Line 21: Made grants or other assistance to domestic charitable organizations
• Line 22: Made grants or other assistance to domestic individuals

Even if an organization is not required to file Form 990, if they choose to do so voluntarily, they must also complete and submit all required schedules, including Schedule I.

Schedule I Filing Requirements

All Section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) must complete and attach Schedule I

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

Part I - General Information on Grants and Assistance

If the organization answered “Yes” on Form 990, Part IV, line 21 or 22, it must complete Part I of Schedule I.

On line 1, select “Yes” or “No” regarding whether the organization maintains records to substantiate amounts, eligibility, and selection criteria used for grants

Use Part IV, Supplemental Information for the organization’s narrative response to line 2.

Part II - Grants and Other Assistance to Domestic Organizations and Domestic Governments

If the organization answered “Yes” on Form 990, Part IV, line 21 for any recipient that received more than $5,000, it must complete Part II of Schedule I.

Provide the following details for every organization.

1. (a) Type of grant or assistance
2. (b) Number of recipients
3. (c) Amount of cash grant
4. (d) Amount of noncash assistance
5. (e) Method of valuation (book, FMV, appraisal, other)
6. (f) Description of noncash assistance

Part II can be duplicated if additional space is needed.

Part III - Grants and Other Assistance to Domestic Individuals

If the organization answered “Yes” on Form 990, Part IV, line 22, it must complete Part III of Schedule I.

A “Yes” response indicates that the organization reported more than $5,000 on Form 990, Part IX, line 2, column (A).

Provide the following details for every individual.

1. (a) Type of grant or assistance
2. (b) Number of recipients
3. (c) Amount of cash grant
4. (d) Amount of noncash assistance
5. (e) Method of valuation (book, FMV, appraisal, other)
6. (f) Description of noncash assistance

Part III can be duplicated if additional space is needed.

Part IV - Supplemental Information

Schedule I Part IV can be used to provide narrative information required in Part I, line 2, regarding monitoring of funds, and in Part III, column (b), regarding how the organization estimated the number of recipients for each type of grant or assistance.

Also, use Part IV to provide other narrative explanations and descriptions, as needed. Identify the specific part and line(s) that the response supports.

Choose TaxZerone to complete your Schedule I filing

We at TaxZerone help to revolutionize your tax filing experience, making it as simple and stress-free as possible. Our intuitive platform guides you seamlessly through every step of the Form 990 process, making it a seamless experience.

Here’s how your Form 990 return with Schedule I 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 I and preview the information provided in the return for accuracy before transmitting.
3. Transmit to the IRS - Transmit Schedule I and your 990 return to the IRS and get the acceptance in just a few hours.

In the unlikely event of an IRS rejection, we'll help you identify and correct any errors in your Form 990 information return, ensuring a swift and cost-free resubmission.