Holt International Form 990
Holt International is a non-profit organization that uses Christian principals to navigate them through their services of family strengthening, orphanage and vulnerable children care, and adoption services. The presentation will be breaking down their form 990 and presenting it to the audience in order gain insight of how and where their finances are being appropriated. The presentation is distributed as follows: Statements regarding other IRS filings and tax compliance, governance, management, and disclosure; compensation of officers, directors, trustees, key employees, highest compensated employees, and independent contractors; statement of revenue, statement of functional expends, balance sheet, financial statement and reporting; schedule A, Schedule B, schedule C, schedule J, schedule L, schedule O. The Form 990 is an informational tax form that most tax-exempt organizations must file annually. It gives the IRS an overview of the organizations activities. The organizations give an outline of the accomplishments for the previous year to justify the tax-exempt status. The IRS wants to be secure that the organization in question will continue to qualify for their tax-exempt status. Holt International must fill out the Form 990 because their gross receipts and assets are more than $200,000 for receipts and/or $500,000 worth of assets. The Form 990 requires organizations to describe its mission or any other significant activates, as well as financial details on its revenues, expenses, assets and liabilities.
ACTG 470, Accounting for Non-Profit Organizations
Stacey Lewis
P103
10 AM – Noon