Form 990 Due Diligence Checklist Napa Valley Community Foundation
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1Form 990 Due Diligence Checklist
This checklist is to be used for: all NVCF discretionary
grants; Donor Advised Fund and Donor Designated Fund
grants ≥$25,000; all funding opportunities published in
Community Link. If 990 Checklist has been completed in
the last 12 months, it is not necessary to run due diligence,
unless there are concerns about the organization.
Date: _______________________
Staff Initials: _______________________
________________________
Name of Organization/Event/Project (use incorporated name)
Tax ID or EIN #:
______________________________________________________________________________________________
Name of Fiscal Sponsor (if applicable) (use incorporated name)
______________________________________________________________________________________________
Where was the 501(c)3 verification obtained? (circle one)
Type of Form 990 obtained (circle one)
Form 990
990-N
(gross receipts ≤$50K)
Guidestar
990-EZ
(gross receipts <$200K AND total assets <$500K)
IRS determination letter
990
(gross receipts ≥$200K and/or total assets ≥$500K)
IRS Pub 78
990-PF (private foundation of any size)
•
Private Operating Foundation status? Y / N
What is the reason for public charity status?
(Part VII-A, line 9)
Refer to Schedule A, Part I, and indicate the line number
checked: Line _____________
What month/year was the 990 filed? _____________
Note: If it is a form 990-N, 990-EZ or 990-PF, please consult Vice President of Philanthropic Services for examination standards. If
it is a 990-PF, and the organization does not have Private Operating Foundation status, we cannot make the grant.
Note: The Form 990 has many other Parts and Schedules that contain interesting information for those making grants, including:
Part VI and Schedules B, C, E, G, H, I, J, O.
If you answer “No” to any of the questions below, the VP of Philanthropic Services needs to be consulted and may review the 990
to determine whether the grant can be approved.
Examining the Form 990
Evidence of Public Support (Part I)
Line 8, Current Year Column: Did the organization receive any grants or contributions?
Yes
No
If No, refer to Part VIII/Statement of Revenue and Schedule A Part II or Part III/Public Support.
Is Line 22, End of Year Column, a positive number?
Yes
No
Accuracy/honesty in reporting expenses (Part IX)
Is Line 25 of Columns C & D less than column B?
Yes
No
Does Part I, Line 8 show more than $1,000,000 in contributions and are some fundraising
expenses recorded under Part IX, Line 25, Column D?
Yes
No
Viability of the organization (Part I)
Is Line 20, End of Year Column (Total Assets) greater than Line 21, End of Year Column
(Total Liabilities)? If No, refer to Part X/Balance Sheet.
Yes
No
Reporting conflicts of interest between board, staff, and independent contractors (Part IV, Part VI)
Did the organization check “No” on Part IV, Line 28a, 28b or 28c? (If the org checked “Yes,”
consult Schedule L and discuss with VP of Philanthropic Services.)
Yes
No
Did the organization check “Yes” on Part VI, Section B, Line 12a, Line 12b or Line 12c?
Yes
No
Reasonable CEO compensation, avoidance of intermediate sanctions (Part VII, Section A)
Does the CEO make less than what was spent in programs? (Refer to Part IX, Line 25, Column B)
Yes
No
If more than one employee is listed: Does the CEO’s compensation seem comparable to other
employee compensation?
CEO salary should not be three times more than the next highest salary.
If No, please consult with VP of Philanthropic Services.
Yes
No
Did the organization check “No” on Part IV, Line 23? (If the org checked “Yes,” review Schedule J.)
Yes
No
Verification of Public Charity Status (Schedule A, Part II or Part III)
Does Part II, Section C, Line 14 or Part III Section Line have a percentage equal to or greater than
33 1/3%? (If organization ≤ 5 years old, this section can be left blank. Is org ≤ 5 years old? Y / N)
Yes
No
If number is below 10%, discuss with VP of Philanthropic Services. The organization is in danger of
becoming a private foundation.
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