Article Archives >> Ready Reference >> September 16-30, 2009
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New Schedule A Reflects
Change in Public Support Rules
Test is now based on five-year rolling average
and reporting is on same basis as other accounting
The new Schedule A required for the Form 990 tax information return reflects the change in method of calculating “public support” for a charitable organization that seeks classification as a public charity rather than a private foundation.
A 501(c)(3) organization that is neither a hospital, a church, or an educational institution (or certain related entities) or a supporting organization to a public charity avoids being a private foundation by satisfying a “public support” test in generating its revenue from a wide variety of sources…
Article Archives >> Ready Reference >> September 16-30, 2009
