Changes by IRS to 2013 990 PF
New required changes for reporting grants on tax form.
I recently read the IRS is requiring more detailed reporting (starting January 2013) on the exact nonprofit status of grantees from private foundations. They are asking to include specific codes. The ones that affect us the most are the codes for nonprofits that are 509a1 or 2 (PC) and codes for supporting organizations by type (1, 2, or 3).
I currently run a report for our accounting manager listing the grants which she then uses to complete the 990PF. I am wondering if there is a way to include these codes in this report or is it something we will need to add as a report field to requests that we input on our end?
Thanks for your help.
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Chris Dahl commented
Hi Kelli,
I checked with a number of our employees who deal more directly with users, and no one had a really easy solution. At this point, the only way to get the information is to look at the Charity Check data. To make it easier to get with the reporting tool - at least in the short term - you could add an internal or admin-only field to a form and enter it manually on each form. I'm not sure what your timeline is for needing to get the statuses, but as I mentioned in my earlier post, I'd like to have a better solution for this in place by the end of 2015 (although we do have some external dependencies, so that's not 100% under our control).
Thanks,
-chris -
Laura Duty commented
We are winging it knowing, up to this point, all of our grantees are either 509a1 or 509a2 organizations.
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Kelli King-Jackson commented
Laura, how are y'all getting your grantees 509a data for your 990?
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Kelli King-Jackson commented
Chris, do you know how other folks pull the 509a status for their grantees? This is our first time having to do get this data for our 990 since moving to Foundant.
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Chris Dahl commented
Hi Laura and Kelli,
We are currently working with GuideStar on getting some updates into the Charity Check information so that we can provide the correct codes for non-profits. Once we start getting the updated information, we'll be able to either build a default 990 reporting data set or at least expose the relevant fields in the data set builder.
At this point, we don't have a firm timeline and it's a bit out of our control, but I hope things are in place by the end of 2015.
My apologies for not providing an update sooner. I'll keep you posted as we get closer to establishing an implementation date. In the meantime, if you have any questions or comments, please let us know.
Thanks,
-chris -
Laura Duty commented
Kelli,
No reply as of yet. Hopefully it is in the hopper for a future update.
Laura -
Kelli King-Jackson commented
Laura, did you ever get a reply?