Part Vii Form 990 Instructions

Column (C). Enter the amount paid by the organization for the calendar year ending with or during the corporation`s taxation year, whether paid on Form 1099-MISC, field 7, or by agreement of the parties or applicable state law. This list also serves as a starting point for completing Annex J, compensation and sharing information in Annex L, transactions with interested persons. The leaders of the organization must also be included on the list, regardless of the amount of their remuneration. According to irS instructions, an executive is «a person elected or appointed to manage the day-to-day operations of the organization.» The staff of an organisation shall be appointed by reference to its organisational document, statutes or decisions of its management body or otherwise in accordance with national law. Examples of officers include a president, a vice-president, a secretary, a treasurer and a chairman of the board of directors. A public servant who served at any time during the organization`s taxation year is considered a current public servant and must be registered even if he or she does not hold that position at the end of the year. Determine whether a single person, in his or her capacity as a former trustee or director of the corporation, received more than $10,000 in reportable compensation for the calendar year ending with or in the corporation`s taxation year, in the total of the corporation and all affiliated organizations (and must therefore be reported on Form 990, Part VII, and Schedule J (Form 990), Part II), add the amounts reported on all Forms 1099-MISC, box 7, and, if applicable, on all Forms W-2, Field 1 or 5 (whichever is greater) issued to the person by the Organization and all related organizations for the calendar year ending with or in the taxation year of the corporation. Report these amounts only to the extent that these amounts relate to the individual`s previous services as trustee or director of the corporation, and do not ignore payments from a related organization if they are less than $10,000 for that purpose.

In 1999, the IRS revised the Form 990 series reporting instructions, adding, «If you pay another person,. B for example, an administrative services company, for services provided by one of your officers, directors, trustees or key employees [or foundation managers for private foundations] («ODTKE»), report compensation and other items as if you had paid them directly. This instruction has been added to ensure that the remuneration paid by third-party management companies has been properly disclosed. Column (C). For each person listed in column (A), select the check box that reflects the person`s position in the organization during the taxation year. Do not check more than one box unless the person was both an officer and a director/trustee of the corporation during the taxation year. For a former officer, director, trustee, key employee, or employee with the highest compensation, select only the Old check box and specify the previous status in the person`s title. Collective societies are reported as independent contractors on Form 990, Part VII (if applicable) only in Section B. Independent Contractors and not in Schedule J (Form 990), Part II. If a current or former officer, director, trustee or key employee has a relationship with a management company that provides services to the organization, the relationship may be set out in Schedule L (Form 990 or 990-EZ), Part IV. A significant employee of a collective society must be declared as the current officer of the bidding organization if he or she is the chief executive officer of the submitting organization or the chief financial officer of the submitting organization, or if he or she is designated as the officer of the bidding organization. However, this person is not considered a key employee of the bidding organization simply because he or she is a key employee of the collective company. Whether or not the corporation files Form 990 on a fiscal year basis, use the calendar year ending in the corporation`s taxation year to identify all «former» officers, directors, trustees, key employees and five employees with the highest compensation (because their status depends on their reported reportable compensation for the calendar year).

The exception of the $10,000. The reportable remuneration of affiliated organizations (Part VII, Division A, column (E)) generally does not include payments from a single affiliated organization if those payments are less than $10,000 for the calendar year ending with or in the corporation`s taxation year. However, there is no de minimis exception for payments to a former director or trustee. Descriptions of each of these unaccounted for items can be found in the instructions in Appendix J (Forms 990 and 990-EZ), Compensation Information. The instructions state that insurance providers are not treated as independent contractors. It is important to notify all individuals listed in this section so that they are aware that certain personal compensation information is part of form 990 publicly disclosed by the institution. .