07: IRS Form 990

Confirming
Reconfirming

The community foundation submits signed copies of the most recent two years’ IRS Form 990, including all schedules, attachments, and exhibits. Only one year's form is required for reconfirmation.

Key Elements 
  1. Organization files as a section 501(c)(3) organization. (See line J for Forms 990 prior to 2008 and line I for tax years 2008 and after.)
  2. Organization is not controlled by another group or organization. (See Part VI, line 80 for forms filed for tax years prior to 2008 and Part IV, line 34 and, when applicable, schedule R for tax years 2008 and after)
  3. Organization did not engage in any excess benefit transaction during the covered year. (See Part VI, line 89b for forms filed for tax years prior to 2008 and for tax years 2008 and after, see Part IV line 25a and b Part V, line 9b, and when applicable, Schedule L)
  4. (For forms filed for tax years prior to 2008)
    • On Schedule A, Part IV, either box 11a or box 11b is checked. (Indicates 509(a)1 designation)
    • On Schedule A, Part IV–A, line 26(f), public support is at least 33.3%, or if public support is less than 33.3% but greater than 10%, organization must provide documentation that was filed with the IRS demonstrating that the organization satisfies the facts and circumstances test.

      (For forms filed for tax years 2008 or later)

    • On Schedule A, Part I, either box 7 or box 8 is checked.
    • On Schedule A, Part II, line 16 or 17 indicates that the organization meets the public support test. If the organization is relying on the 10% facts and circumstances test (Line 17), the organization must provide documentation that was filed with the IRS in Schedule A, Part IV, demonstrating that the organization satisfies the facts and circumstances test.
  5. Board serves without compensation (excluding CEO) (See Part V for Forms 990 prior to 2008 and Part VII for tax years 2008 and later)
  6. Organization discloses accurate information about its donor advised funds. Required information includes the number of donor advised funds, the aggregate value of assets held in the funds at the end of the tax year, and aggregate contributions to and grants from donor advised funds (See Schedule D for tax years 2008 and later)
  7. Nothing in the document suggests that resources are being used for any purpose other than to further the mission of the organization.
  8. Organization discloses fundraising expenses (See Form 990, Part IX).
Core Materials 

Required Documents

  • IRS Form 990 with all schedules, attachments, and exhibits (two years' forms are required for confirmation; one year's form for reconfirmation)
Related Standards 

II. Mission, Structure and Governance

II.B    A community foundation is recognized by the Internal Revenue Service (IRS) as tax-exempt under Internal Revenue Code Section 501(c)(3) and organized and operated exclusively for charitable purposes.

II.C    A community foundation meets the public support test set forth in Internal Revenue Code Section 170(b)(1)(A)(vi) as modified by Treasury Regulation Section 170A-9(e)(10).

II.F.4    A community foundation's governing body serves without compensation (exclusive of the chief executive officer).

II.F.5    A community foundation's governing body is not controlled by any other nonprofit organization, or by any single family, business, or governmental entity or any narrow group within the community.

II.F.9    A community foundation's governing body ensures that the community foundation meets all legal requirements.

IV. Stewardship and Accountability

IV.F    A community foundation ensures that the foundation's financial resources are used solely in furtherance of its mission.