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Newsletter > November 2007 > "SUMMARY OF SCHEDULES AND FILING PROFILE June 14, 2007"

SUMMARY OF SCHEDULES AND FILING PROFILE June 14, 2007

Redesign Schedule	Topic	Current/New Item	To Be Completed By	Comments
A	Public Charity Status	Current Sch A Part IV	All 501(c)(3) organizations	Redesigned Sch A focuses exclusively on Public Charity status; May take the place of Form 8734 in the 5-year advance ruling process.
B	Contributors	Current Sch B	Any organization that received $5,000 or more from any one contributor	Same as 2006 Sch B
C	Political and Lobbying Activity	Current Sch A Part VI (lobbying); new (political)	Organizations that conducted lobbying or political activities	Redesign requires new political activity and inter-corporate funds transfers reporting
D	Supplemental Financial Statement Detail	Conversion of required attachments into unified Sch D; some new items	All types of organizations	New items include FIN 48 uncertain tax position and art collection financial statement footnote disclosures, 5-year endowment table
E	Schools	Current Sch A Part V	All private schools	No changes
F	Foreign Activities	New	Organizations that have a foreign account or office, or have employees or activities outside the U.S.	Retains question regarding foreign accounts or office; adds reporting of exempt and other activities outside the U.S.
G	Fundraising and Gaming	Part I, L9 attachments	All organizations with more than $10,000 from fundraising events or outside fundraising costs	Expands reporting regarding certain professional fundraising
H	Hospitals	New	Organizations that operate at least one hospital facility that provides hospital or medical care, including as part of a hospital system or university	Requires organization to report aggregate community benefit for all facilities, and certain information regarding billings, collections, and joint ventures; requires list of facilities and description of type of services provided at each facility; requires reporting of certain policies and activities to communities served by the organization
I	Grants	Current Part II, L22b, 23 attachment	Organizations that make more than $5,000 of aggregate grants	Retains current reporting but with new filing thresholds
J	Compensation	Comprises portions from Part V-A and V-B, as well as Sch A, Part I	Generally those organizations that pay more than $150K reportable compensation/$250K total compensation to at least one individual or compensates Former officers, directors, trustees, or key employees	Most organizations have simplified reporting (W-2 or 1099) on the core, with additional reporting regarding its compensation practices; Sch J requires detail beyond current reporting for various types of compensation
K	Tax Exempt Bonds	New	Organizations with an outstanding tax-exempt bond issue greater than $100K	Retains certain information from Part IV, L 64a, but adds use and investment of proceeds information and relationships with outside advisors
L	Loans	Part IV, L 50a, 50b, 63 on balance sheet	Organizations that lend money to or borrow from officers, directors, and certain disqualified persons	Generally unchanged but eliminates some items currently required
M	Noncash Contributions	New	Organizations that received more than $5,000 of noncash contributions	Requires reporting by types of contribution and information regarding donee’s valuation methods for financial reporting
N	Termination or Significant Disposition of Assets	Part VI, L 79 (terminations and substantial contractions)	Organizations that have ceased activities or that made a significant disposition of assets (more than 25% of net assets)	Part I expands current termination reporting; Part II requires new reporting for dispositions of more than 25% of the at fair market value of the net assets of the organization irrespective of whether it is a sale or other transaction.
R	Related Organizations	Comprises portions from Parts VI, L 80b; IX; XI; Sch A Part VII	Organizations that own a controlling interest in (or are controlled by the same persons as) a partnership, LLC, corporation, trust, or other exempt entity	Locates related organization reporting in one schedule and classifies it by type of tax entity (partnership, corporation, disregarded entity, or exempt)