Instructions For Form 1024 - 2016 (Page 4 of 6) in pdf

Line 14. Provide the specified

and any special assessments or initiation

For example, salaries attributable to the

information about leased property whether

fees.

organization’s exempt purpose activities

it is used for exempt functions or for other

should be included with any other

Line 2. Don’t include amounts received

purposes.

expenses reportable on line 9 rather than

from the general public or a governmental

being reported separately on line 14.

Line 15. Provide the specified

unit for the exercise or performance of the

information about political expenditures

organization’s exempt function.

Salaries reportable on line 14 include,

whether they were made to support or to

for example, those attributable to special

Line 3. Examples of such income

oppose particular candidates.

events, to the solicitation of contributions,

include: the income derived by a social

to the overall management and operation

Line 16. This includes any printed

club from the sale of food or beverage to

of the organization.

material that may be used to publicize the

its members; the sale of burial lots by a

organization’s activities, or as an

cemetery association; and fees charged

Line 13. Attach a schedule that shows

informational item to members or potential

by a social welfare organization or trade

the name of the person compensated, the

members.

association for an educational seminar it

office or position, the average amount of

conducted.

time devoted to business per week,

Part III. Financial Data

month, etc., and the amount of annual

Line 4. Enter the organization’s gross

The Statement of Revenue and Expenses

compensation.

income from activities that are regularly

must be completed for the current year

carried on and not related to the

and each of the 3 years immediately

Line 14. Enter the total of employees’

organization’s exempt purposes.

before it (or the years the organization has

salaries not reported on line 13.

existed, if less than 4).

Examples of such income include: fees

Line 15. Enter the total interest

from the commercial testing of products;

Any applicant that has existed for

expense for the year, excluding mortgage

income from renting office equipment or

less than 1 year must give financial

interest treated as occupancy expense on

other personal property; and income from

data for the current year and proposed

line 16.

the sale of advertising in an exempt

budgets for the following 2 years.

Line 16. Enter the amount paid for the

organization periodical. See Pub. 598 for

Any applicant that has been in

use of office space or other facilities, heat,

information about unrelated business

existence more than 1 year but seeks

light, power, and other utilities, outside

income and activities.

recognition of exemption only for the

janitorial services, mortgage interest, real

current year and future years (rather than

Line 5. Attach a schedule showing the

estate taxes, and similar expenses.

description of each asset, the name of the

from the date of its formation), should give

financial data for the current year and

person to whom sold, and the amount

Line 17. If your organization records

proposed budgets for the following 2

received. In the case of publicly traded

depreciation, depletion, and similar

years.

securities sold through a broker, the name

expenses, enter the total.

of the purchaser isn’t required.

We may request financial data for more

Line 18. Attach a statement listing the

than 4 years if necessary.

Line 6. Include on this line the income

type and amount of each significant

received from dividends, interest,

expense for which a separate line isn’t

All financial information for the current

payments received on securities loans (as

provided. Report other miscellaneous

year must cover the period beginning on

defined in section 512(a)(5)), rents, and

expenses as a single total if not

the first day of the organization’s

royalties.

substantial in amount.

established annual accounting period and

ending on any day that is within 60 days of

Line 7. Enter the total income from all

B. Balance Sheet

the date of this application.

sources that isn’t reported on lines 1

Line 1. Enter the total interest and non-

through 6. Include, for example, income

If the date of this application is less

interest-bearing cash in checking and

from special events such as raffles and

than 60 days after the first day of the

savings accounts, temporary cash

dances that isn’t taxable as unrelated

current accounting period, no financial

investments (money market funds, CDs,

business income. Attach a schedule that

information is required for the current year.

treasury bills, or other obligations that

lists each type of revenue source and the

mature in less than 1 year), change funds,

Financial information is required for the

amount derived from each.

and petty cash funds.

3 preceding years regardless of the

Line 9. Enter the expenses directly

current year requirements.

Line 2. Enter the total accounts

related to the income sources reported on

receivable that arose from the sale of

Note. If no financial information is

line 3 of this part.

goods and/or performance of services.

required for the current year, the

Line 10. Enter the expenses directly

preceding year’s financial information can

Line 3. Enter the amount of materials,

related to the income sources reported on

end on any day that is within 60 days of

goods, and supplies purchased or

line 4 of this part.

the date of this application.

manufactured by the organization and

Line 11. Attach a schedule showing

held to be sold or used in some future

Prepare the statements using the

the name of the recipient, a brief

period.

method of accounting and the accounting

description of the purposes or conditions

period the organization uses in keeping its

Line 4. Attach a schedule that shows

of payment, and the amount paid.

books and records.

the name of the borrower, a brief

Line 12. Attach a schedule showing

If the organization uses a method other

description of the obligation, the rate of

the total amount paid for each benefit

than the cash receipts and disbursements

return on the principal indebtedness, the

category, such as disability, death,

due date, and the amount due.

method, attach a statement explaining the

sickness, hospitalization, unemployment

method used.

Line 5. Attach a schedule listing the

compensation, or strike benefits.

A. Statement of Revenue and

organization’s corporate stock holdings.

Lines 13–18. Use lines 13 through 18

Expenses

to report expenses that aren’t directly

For stock of closely held corporations,

Line 1. Include amounts received from the

related to the expense categories listed on

the schedule should show the name of the

members that represent the annual dues

lines 9 and 10.

corporation, a brief summary of the

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Instructions For Form 1024 - 2016 Page 4

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