The Michael Paul Wein Charitable Foundation

"Underpromise and Overdeliver"

IRS fin'l req'm'ts
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For any organization that claims to be tax-deductible for USA citizens on USA tax returns, and if that organization has "Total Revenues" (as listed below) of more that us$25,000 a year, it must file Form990EZ.   On the other hand, if it claims to be USA tax deductible and has less than us$25,000 a year, it does not have to file the Form 990-EZ, but it must keep records that would enable it to file such a form anyway.  Therefore, the bookkeeping leading to the following report is still necessary.

The following information has been extracted from IRS publications as noted below:

IRS Form990EZ – a 2-page IRS Return for Organizations Exempt from USA Income Tax (and only for organizations with gross receipts of less than $100,000, larger organizations must file a more complex form) – this statement is open to PUBLIC INSPECTION.

 Among the information about your income to be disclosed is:

Contributions, grants, gifts, etc. received

Membership dues

Investment income

Received from sales of assets

     Less costs of sales and sales expenses

Special events and activities income

     Less direct expenses

Other revenues (listed by item and amounts)

Total revenues

 Some of the categories disclosing your expenditures that IRS requires are:

Grants and similar amounts paid out

Benefits paid to or for members

Salaries and other employee expenses

Professional fees

Rent, utilities, maintenance, and other occupancy costs

Printing, publications, postage, shipping, etc.

Other expenses (listed by item and amounts)

There is also a requirement to:

Describe what was achieved in carrying out the organization’s exempt purpose

List officers, directors, trustees, key employees, etc. (listing must include title, average hours per week, compensation – even if not compensated, and expense account allowance)

additionally, there is a list of 19 questions of various types to be answered.

 

Send all e-mail to mpwinsma@gmail.com with any questions or comments about this web site. SPECIFY EXACTLY (using copy and paste) (and mentioning this page name) what your question or comment refers to.   Note: in the event that the above information is no longer accurate, see the newer web-page listing various subsequent changes to this web-site after the founder's death.
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