What Is The Form 990-PF Schedule B and Who Needs To File It?

Form 990-PF Schedule B

A lot of information is required for Private Foundations in their IRS tax filing. The aggregate form, Schedule B is required for certain organizations when filing their Form 990-PF. Let’s review this form and see who needs it, when to file it, and how to complete it. 

What is Form 990-PF Schedule B?

Form 990-PF Schedule B is also called the Schedule of Contributors. This schedule is designed to report information about donors and their contributions throughout the tax year. These contributions can be either monetary or in kind. 

If donations from one individual total $5,000 or 2% of $700,000 for large foundations, the organization must attach Schedule B to their Form 990-PF

What Contributor Information Is Captured On Schedule B?

You will need to include some basic information about both your donor and their contribution on Schedule B. This information includes:

  • The donor’s name, address, and zip code
  • The type of contribution made
  • If the donation was property then you will need to describe this property and its market value
  • You will also need to explain the purpose of the gift

Click here to learn more about Schedule B requirements.

How To File Your Schedule B 

When you paper file your Form 990-PF, this is an extra step. You will need to complete this aggregate form and attach it to your Form 990-PF when mailing it to the IRS. Be sure to mail both forms together to one of the appropriate IRS mailing addresses. 

There is one address for filers located in the United States and one for organizations with their principal location outside of the United States or in one of the U.S. territories.

Click here for the IRS mailing address information.

The ExpressTaxExempt Solution For Form 990-PF Schedule B

When you file 990-PF with ExpressTaxExempt, an IRS Authorized E-file Provider, there is no need to stress about Schedule B. Our interview-style process asks you the questions needed to capture the information for Schedule B. Then the ExpressTaxExempt automatically generates this form for you! 

Our internal audit checks ensure that you can catch any filing errors along the way, before IRS transmission. 

The team at ExpressTaxExempt understands that we are living in uncertain times, therefore we are committed to answering your questions, providing you with the latest information, and helping you maintain your tax-exempt status with as little stress on your part as possible. 

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