Form 990 (Schedule J) for Syracuse New York 2024-2025

Form 990 (Schedule J) for Syracuse New York: What You Should Know

For more information, contact: For additional information, contact: Schedule J is for an organization or partnership (i.e. a charity, business, or partnership that files Form 990 each year) that does “nonbusiness related” transactions with the IRS. Any payment (other than a gift) is considered to be “nonbusiness related” transactions. A “nonbusiness related transaction” is one involving an entity other than an organization. Schedule J covers the year immediately prior to the one included in the Schedule J (Form 990) on which the business related fees are based. For the calendar year included in Schedule J of Form 990, the payment for business related services must be paid by July 1. For example, a professional who invoices and receives payment on July 2 is required to include in Schedule J the July 2 invoice amount (or equivalent fee) by the end of August. Payment received by July 6 of the year must be reported by the 20th day of the month following July 6. When an organization's payments to an individual exceed 600 for “business related services,” Schedule J includes information about those fees and expenses as part of the organization's Form 990. This is the same information, with a different filing format, that is required, and is provided, on Form 990 — C (or 990-EZ) for nonfederally qualified organizations. The amount of these fees and/or expenses reported on Schedule J does not represent, by itself, an amount that qualifies for the tax exemption provided in Section 501(c)(3). The fee payment is the equivalent of a gift. The amount of money received for compensation (other than that for a gift made to a person, entity, or foundation that qualifies for tax-exempt status is not available for payment of federal income tax) for certain officers, directors, trusts, and other specified people in the organization must be reported by the due dates or must be set forth specifically in the annual report on Form 990-EZ for the calendar year for which they were paid. The schedule lists the amounts paid by the organization to each person listed. No fee is required for salaries for directors not employed by the organization. The schedules do not specify each person's duties or responsibilities. No fees are required for expenses associated with a grant.

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