What needs to be done if your organization maintained some donor-advised funds during the tax year?
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Last modified 12/26/2022 5:00:10 AM EST |
Applicable To
990-PF
990-N
990-EZ
990
8868
1120-POL
If your organization maintained some donor-advised funds for the year, then your organization is considered as a sponsoring organization, under Section 501(c)(3). In general, the role of a sponsoring organization is to maintain and operate these donor-advised funds for the sole purpose of supporting charitable organizations.
In that case, your organization must complete and file Form 990 instead of Form 990-EZ, regardless of the annual gross receipts or net assets received during the tax year.