Community Platform

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Changes in Compensation reported on New Form 990, rev 2008


The following is a summary footnote of 'compensation' and 'benefits' amounts displayed on the Officers page of Community Platform System:

 

* Compensation and benefits represent amounts reported by the organization on IRS Forms 990 and 990-EZ:

·         For IRS tax form years through 2007 (reported fiscal periods starting on or before December, 2007), amounts reported on Forms 990 and 990-EZ do not include compensation and benefits received from related organizations.

o   Compensation as reported on Form 990, Part V-A, column C; or on Form 990-EZ, Part IV, Column C.  Reported amounts should represent salary, fees, bonuses, and severance payments paid by the organization, including payments of amounts previously reported as deferred compensation.

o   Benefits: Contributions to employee benefit plans and deferred compensation plans as reported on Form 990, Part V-A, Column D; or on Form 990-EZ, Part IV, Column D.

 

·         For IRS tax form years 2008 and later (reported fiscal periods starting on or after January, 2008), amounts reported on Form 990-EZ do not include compensation and benefits received from related organizations.  Amounts reported on Form 990 include compensation and benefits received from the reporting organization and its related organizations, which generally consist of parents, subsidiaries, brother/sister organizations, supporting organizations and supported organizations.  In some cases, compensation from an unrelated organization must also be reported on Form 990.

o   Compensation as reported on Form 990, Part VII-A, in Columns C and D combined, typically represents all forms of compensation reportable on Forms W-2 and 1099-MISC received from the organization and from its related organizations.  Two options available for reporting compensation on Form 990-EZ, Part IV, Column C do not include amounts received from related organizations.

o   Benefits: Amounts reported on Form 990, Part VII-A, Column F represent estimated other compensation from the organization and its related organizations.  This generally includes all forms of compensation not currently reportable on Forms W-2 or Form 1099-MISC, including deferred compensation and contributions to employee benefit plans.  Available options for reporting "contributions to employee benefit plans and deferred compensation" on Form 990-EZ, Part IV, Column D do not include amounts received from related organizations.

Please refer to IRS Forms 990, 990-EZ, W-2, 1099-MISC instructions and related tax code for complete details (www.irs.gov).


Added 10/07/2011 by jdurnford, Modified 10/11/2011 by kuttkeUI

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