For the 990 report under the "Nonprofit" section there needs to be additional columns added in order to meet IRS reporting requirements. We need the IRC added as well as the grant purpose.
This functionality was released on December 1st, 2021. Added a 990 report for Grants to Individuals. Grantee's that are individuals will be included in this report. Enhanced the 990 export to include the IRC Section Code and Grant Purpose. The IRC Section Code will be populated from the new Tax Class field that is user defined in Profile Types. The Grant Purpose will be populated with the Grant Type from the grant. If the Grantee has been awarded more than one grant with multiple grant types, the grant type with the highest combined grant awards will be used.
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Vonda Carr commented
This field is needed desperately. Adding this information manually is going to take a large amount of time.
Leslie Friscia commented
What are other Foundations doing to capture this information? We are new to Foundant and just came across this missing but required feature for the IRS. Thanks for any insight.