Where Form 990 Schedule H Instructions 2023-2024

Under what circumstances would a typical church file a 990 or other one of those forms? - A 990 would typically be filed for unrelated business income tax. - Some of you I do prepare them for. - What we see quite often is rentals of your facilities. - In some cases, advertising any unrelated business income that exceeds $1,000 per year needs a 990 that is open to public inspection. - For example, if I have a billboard on my property that we get $10,000 a year potentially, what about if we start a coffee shop? - Probably not. - It depends on the nature of the coffee shop. - If it's here like a joy where it's buried in the middle of the campus and it's primarily for the guests that are attending the campus, then no. - If it's on the corner and it's got a Starbucks logo, yes, it's going to be subject to unrelated business income tax. - And then that tax return is subject to disclosure. - What if we just rent our property to the Red Cross five nights a week and we get $20,000 a year from rental of our facilities? - Likely, that's not going to be subject. - It is initially, all rents are subject, but there are exclusions. - If 15 percent of the use of your property is in rental activities, if it's less than 15 percent, then you're exempted. - So there's a lot of rules with unrelated, we could spend all day talking about that. - But just be aware that that 990, although it looks like a corporate tax return, is subject to inspection. - They're not going to see a lot on it because there are no salaries and officers, there's not a lot of...