How to fill Contributions, Gifts, Grants, and Similar Amounts Received from Disqualified Person?
121 views | Last modified 9/17/2020 7:52:15 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

A disqualified person can be an important contributor, a foundation manager, a person who owns more than 20% of the corporation, or a family member of any of those people who makes all contributions for a private foundation. If you own the organization and make all the contributions to the organization by yourself, you are considered as a disqualified person.

To fill Contributions, Gifts, Grants, and Similar Amounts Received from Disqualified Person, you'll need to provide the name of the disqualified person, and tell if the grant received was in the form of cash or noncash. If it's noncash, you need to choose the type of property contributed, and its equivalent FMV (Fair Market Value). 

 

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