Lakeland Florida Form 990 (Schedule H) 2024-2025

Lakeland Florida Form 990 (Schedule H): What You Should Know

Form 990 — Form 9039 If you use Form 990-T to report income from a business, that income includes income from property used and/or owned by the business. Income from a business (the “active” income, also called “covered business income”) is income from sources within the United States of source. “Unrelated business taxable income” includes income from unrelated transactions that are passive (no active economic activity). This table shows how much of the gross income is attributable to the active business in 2018. Amount in millions, 2 % change from 2025 to 2 % change from 2025 to 2025 Total unrelated business taxable income 15,521 14,726 1,919 11.5% Capital gains and loss (17,099) (5,813) (0) (19.4%) Net unrealized appreciation in non-operating assets (24,848) (6,844) (8,541) (7.4%) Net unrealized loss in non-operating assets (7,737) (28) (3,838) (14.4%) Net gains from property and other income 2 (621) (1,152) Total unrelated business taxable income 18,632 17,726 2,012 12.9% Total taxable under Section 280E (Unrelated Business Activity) is derived from the fair market value of property or business property purchased by the charity. The amount is then net of any allowable expenses that may be deducted in connection with the use/acquisition of property. Unrelated business property is real property. Interest, income, net gains, net losses and net income, gross income, net income are not allocated or reported. Net unrelated business taxable income in 2018 Income from Real Property — The percentage of income earned from real property is: 5.8% for buildings 1,250,000 and below 5.0% for buildings 1,500,000 and above For buildings that are not mobile, net income is added to Real property income. For Example: A church owned a building with a value of 2,500,000. Net rental income on the property was 40,000. The church earned 150,000 net income from the building.

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