Form 990 Schedule M Instructions - Noncash Contributions
IRS Form 990 Schedule M Instructions
- Updated August 21, 2024 - 2.00 PM - Admin, Tax990
Nonprofit organizations that file Form 990 may be required to include Schedule M to report additional information regarding the noncash contributions to the IRS.
Table of Contents
What is the purpose of Form 990 Schedule M?
Schedule M is used by nonprofit organizations to provide detailed information regarding the types of noncash contributions received during the corresponding tax year.
It is also used to report the financial statements of noncash contributions and noncash donated items (even if sold immediately) received by the organization.
Note:
Noncash contributions received in a prior year and donations of services or the use of donated facilities, equipment, or materials aren’t required to be reported.
Who must file Form 990 Schedule M?
Schedule M must be included by organizations that answered “Yes” on Form 990, Part IV, Line 29 or 30.
This includes
Organizations that received more than $25,000 in non-cash contributions
Organizations that received contributions of art, historical treasures or other similar assets, or qualified conservation contributions.
How to Complete Form 990 Schedule M?
Schedule M is comprised of just 2 parts. Here is a summary of the information required to be reported.
Part I - Types of Property
In this part, you are required to report details regarding various types of properties received by your organization during the corresponding tax year.
Indicate if your organization has received the type of property listed and enter the following details regarding the property
- Number of contributions or items contributed
- Noncash contribution amounts reported on Form 990, Part VIII, line 1g
- Method of determining noncash contribution amounts
The Following are some of the examples of properties that can be reported
-
Works of Art - Paintings, prints, drawings, ceramics, sculptures, and many other
similar objects. - Historical Treasures - Building, structure, area, or property with recognized cultural or historical values.
-
Contribution of Fractional Interests - The undivided portion of the donor's interest in a
work of art. -
Books and Publications - Contributions of books and publications received by
the organization. - Clothing and Household - Clothes and household goods that are in good condition.
-
Cars, Boats, Planes, and Other Vehicles - Contributions of motor vehicles, boats,
and Airplanes - Securities - Publicly traded securities, closely held stock and interests in a partnership, limited liability company that isn’t publicly traded, and other miscellaneous securities.
- Real Estate - Contributions of residential, commercial, and other real estate properties.
Mention the number of 8283 forms received by your organization. Following that, mention whether your organization has a gift acceptance policy or hired any third parties.
Part II - Supplemental Information
This part requires you to provide an explanation for certain questions from the previous part. Also, you can use this part to report additional information for any other questions.
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