Schedule B - Contributors

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Purpose of Schedule B

Form 990 Schedule B is used by nonprofit organizations to report their significant contributors and certain information about donations received. The primary purposes of Schedule B are to enhance transparency and accountability by providing the IRS and the public with details about large donations that help support the organization’s activities.

Key aspects of Schedule B include:

1. Identifying Major Donors: It lists individuals, foundations, or corporations that contributed above a specified threshold during the year.

2. Ensuring Transparency: By disclosing these contributions, nonprofits help ensure that their funding sources are transparent, which can build trust with the public and stakeholders.

3. Compliance: Nonprofits must comply with IRS regulations regarding reporting substantial donations, and Schedule B helps fulfill that requirement.

Overall, Schedule B is crucial for maintaining the integrity of the nonprofit sector and providing insights into the funding landscape of an organization.

How to open Schedule B

Form 990, Part IV, Line 2, must be set to “Yes”

IRS Schedule B – Form - https://www.irs.gov/pub/irs-pdf/f990ezb.pdf
IRS Schedule B – Instructions - https://www.irs.gov/charities-non-profits/form-990-schedules-with-instructions

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