Instruction 990 Schedule D (Form 990) - 2011 (Page 3 of 5) in pdf

the building that is inconsistent with the

separately from revenues, expenses,

funds payable to other organizations or

historical character of such exterior.

gains, losses, and assets. An

individuals and has not reported those

organization that recognizes and

amounts on Form 990, Part X, as an

Section 170(h)(4)(B)(ii) requires the

capitalizes its collections for financial

asset or liability, check “Yes” and

donor and donee to enter into a written

statement purposes will report its

provide an explanation of the

agreement certifying, among other

collections as assets and revenues

arrangement in Part XIV.

things, that the donee organization has

based upon its fair value measurement.

the resources to manage and enforce

Organizations that maintain escrow

Line 1 pertains to collection items held

the restriction and a commitment to do

or custodial accounts not reported on

by the organization in furtherance of

so.

Form 990, Part X, must record

public service, and line 2 pertains to

increases or decreases in such

Line 9. Enter on Part XIV a description

collection items held by the

accounts by completing lines 1c

of how the organization reports

organization for financial gain, as those

through 1f.

conservation easements in its

terms are described in SFAS 116 (ASC

revenue and expense statement and on

Example 1. A credit counseling

958).

its balance sheet. Include in Part XIV, if

organization that collects amounts from

Line 1a. If an organization has

applicable, the text of the footnote to

debtors to remit to creditors can hold

elected not to capitalize its collections,

the organization’s financial

funds in an escrow or custodial

then provide in Part XIV the footnote(s)

statements that describes the

account. If the organization acts as a

to the organization’s financial

organization’s accounting for

go-between and does not report these

statements that describe these

conservation easements and the basis

funds as its assets or liabilities on Form

collection items.

for its reporting position (for example,

990, Part X, it must report the fund

Line 1b. If an organization has

FASB EITF 02-7, Example 1 (now

balances on lines 1c through 1f.

elected to capitalize its collections,

codified in ASC 350-30-55-29 to

Example 2. An organization

55-32)).

provide on line 1(b)(i) the revenues

providing down-payment assistance

relating to its collection items that are

The organization must report

that collects amounts from donors to be

reported on Form 990, Part VIII, line 1.

any qualified conservation

used toward the purchase of qualifying

Also, provide on line 1(b)(ii) the value of

contributions and contributions

housing can hold funds in an escrow or

the organization’s collection items

CAUTION

of conservation easements in Form

custodial account. If the organization

reported as total assets on Form 990,

990, Part VIII, Statement of Revenue;

acts as a go-between and does not

Part X, line 16, column (B).

Schedule A (Form 990 or 990-EZ);

report these funds as its assets or

Line 2. If an organization has received

Schedule B (Form 990 or 990-EZ); and

liabilities on Form 990, Part X, it must

or held collections for financial gain,

Schedule M (Form 990) consistently

report the fund balances on lines 1c

provide on line 2(a) the revenues

with how it reports revenue from such

through 1f.

reported as to these collection items

contributions in its books, records, and

Line 2. If the organization answered

from the total revenues included on

financial statements.

“Yes” to line 2a, explain in Part XIV the

Form 990, Part VIII, line 1. Also,

arrangements under which the amounts

provide on line 2(b) the asset value

Part III. Organizations

reported on Form 990, Part X, line 21,

assigned to these collection items,

Maintaining Collections

are held, including any obligations the

which value should also be reported as

organization has to other persons under

part of the organization’s total assets

of Art, Historical

such arrangements.

reported on Form 990, Part X.

Treasures, or Other

Line 3. Based upon the organization’s

Part V. Endowment

acquisition, accession, and other

Similar Assets

Funds

records, check all boxes that best

describe how the organization utilizes

Complete Part III if the organization

Complete Part V if the organization

its collections, including the collection’s

answered “Yes” to Form 990, Part IV,

most significant use.

line 8.

line 10. For Part V, the definitions of

Line 4. On Part XIV, provide a

Organizations that receive

endowments and types of

description of the organization’s

contributions of works of art,

endowments are governed by SFAS

collections and explain how these

historical treasures, and similar

117, paragraphs 13 through 16 (ASC

collections further the organization’s

assets that do not maintain collections

958-210 and 958-225). Information

exempt purposes.

as described in SFAS 116 (ASC

reported in Part V should pertain to the

958-360-20) are not required to

Line 5. Answer “Yes” to line 5 if during

aggregate of the endowment assets

complete Part III, but may be required

the year the organization solicited or

held by the organization, organizations

to complete Schedule M.

received donations of art, historical

formed and maintained exclusively to

treasures, or other similar assets to be

further one or more exempt purposes of

For lines 1 and 2, refer to SFAS 116

sold in order to raise funds rather than

the organization, and organizations that

(ASC 958) for meanings of the various

to be maintained as part of the

hold endowment funds for the benefit of

terms.

organization’s collection.

the organization.

Lines 1 and 2. Pursuant to SFAS 116

Temporarily restricted

(ASC 958-360-25), certain

Part IV. Escrow and

endowments include endowment

organizations can choose one of two

methods to report collections of works

Custodial Arrangements

funds established by donor-restricted

of art, historical treasures, or other

gifts that are maintained to provide a

Complete Part IV if the organization

similar assets held for public exhibition,

source of income for either a specified

answered “Yes” to Form 990, Part IV,

education, or research in furtherance of

period of time or until a specific event

line 9, regarding escrow or custodial

occurs (see SFAS 117 (ASC

public service. An organization that

accounts or arrangements.

does not recognize and capitalize its

958-205-45)), as well as all other

Lines 1a through 1f. If the

collections for financial statement

temporarily restricted net assets held in

organization acts as an agent, trustee,

purposes will report its collections on

a donor-restricted endowment,

the face of its statement of activities,

custodian or other intermediary for

including unappropriated income from

-3-

Instruction 990 Schedule D (Form 990) - 2011 Page 3

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