Get the IRS 990 - Schedule B 2019-2020

Welcome to my series of video tutorials on how to prepare form 990-ez information return for small tax-exempt organizations I'm David McCree I'm a CPA and you can find me on the web at my form 990-ez comm this is a quick overview of form 990-ez this is a four-page form and it's divided into six parts plus a header and a signature section the top is the header take care and filling out the header it's a very important part of the document next down here and part one on page one is the revenue section from lines one through line nine this is where you're going to report all of the organization's revenues but note that there are several lines in here where you're going to also put in some expenses here you're going to have a cost basis for certain assets that are sold or you can have direct expenses from fundraising events and you're going to have cost of goods sold so the total revenue here on line nine on your form 990-ez is not necessarily going to match your total revenue on quickbooks because of these reductions here then down below the revenue on page one is a small section for expenses now in the 990-ez this is a fairly abbreviated expense presentation compared to the full form 990 that's where the advantages to the EZ so this is where your expenses are going to go and keep in mind also that because you've included some expenses up here in the revenue section your total expenses on the form 990-ez are not necessarily going to equal total expenses on your QuickBooks or whatever accounting program you use or your spreadsheet or whatever then down here at the bottom this is usually where people goof up this is the net assets section net assets or basically what's left over after you subtract your liabilities from your assets and I'll be doing another video on that to show what that is a detail would keep in mind that this is a touchy area and so let's move along to page two you have a simplified balance sheet up here on part two at the top of page two and you always want to make sure that your beginning of the year balance sheet matches the end-of-the-year balance sheet and the year before that's something that's often goofed up and if they're not the same then you need to investigate and find out why and maybe you need to make an adjustment part three down here the statement of program service accomplishments this is an area where you simply state what your programs are and the amount of expenses for each program this is an area where you can really portray to the public and to the IRS what your organization has accomplished and I usually like to just put see attached schedule and then on schedule oh right a significant amount of information about the programs and how many people were served and so on and so forth let's see then down below that on page two still part four this is where you list officers directors trustees and key employees and you have to list them here whether they get paid or not okay and I see so many 1990s they just have...