How to fill Contributions, Gifts, Grants, and Similar Amounts Received from Commercial Co-Venture?
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Last modified 9/28/2020 7:17:34 AM EST |
Added by ExpressTaxExempt Team
A commercial co-venture is the arrangement your organization had with an outside organization or an individual to use your organization's name in a sales promotion campaign wherein the latter agrees to contribute a certain percentage of their sales proceeds to your organization.
To fill Contributions, Gifts, and Grants received from Commercial Co-Ventures, 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).