Changes to Contributor Disclosures on Form 990

Changes to Contributor Disclosures on Form 990

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By Preston A. Jones, CPA, Business Assurance & Advisory Services Manager | Not-for-Profit Team

Form 990 and Form 990-EZ Changes

The IRS recently released Revenue Procedure 2018-38. This pronouncement modifies the information required to be reported to the IRS on the Form 990 and Form 990-EZ for organizations exempt under Section 501(a), other than those described under Section 501(c)(3). Previously, these organizations were required to disclose the name and addresses of those who contributed $5,000 or more to the not-for-profit organization. This requirement has been removed, so applicable not-for-profits will not be required to complete this portion of their Schedule B. Similarly, organizations described under Sections 501(c)(7), (8), or (10) will no longer be required to provide the names and addresses of those who contributed more than $1,000 during the taxable year to be used for exclusively charitable purposes. Organizations relieved of these obligations will still be required to maintain this information in their own records in order to permit the IRS to examine this information.

The changes described above will apply to information returns for taxable years ending on or after December 31, 2018. Access full pronouncement.

Questions on this topic? Contact your Keiter representative or our Not-for-Profit team. Email. 804.747.0000. We can help.

Additional Not-for-Profit Accounting Resources:

Nonprofits Request Delay in New UBIT Rules Implementation

Charitable Giving Under the Tax Cuts and Jobs Act of 2017

Excise Tax Changes IMpact Tax Exempt Organizations

Not-for-Profit Blog

About the Author

Preston partners with his clients to identify compliance opportunities. He develops, performs, and supervises completion of audit procedures for numerous not-for-profit entities as well as for-profit businesses. Read more of Preston’s insights on our blog

More Insights from Preston Jones, CPA

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


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