AboutHarvey Mechanic Expertise US Federal tax issues of nonprofit 501(c)(3) public charities only. Establishing and maintaining legal requirements for such non-profit organizations in the United States, including Internal Revenue service filings and requirements. I will not be working on this free forum to answer questions about Nonprofit's unrelated or for-profit businesses or how to fill out forms. This forum is only for general questions about federal tax law, not as the law applies to your specific situation.
To search my previous answers you can do a Google search: site:allexperts.com/q/nonprofit [with your other search terms appended].
Experience I have been practicing law and especially the law of nonprofit organizations since 1990 when I was admitted to the New York Bar.
Education/Credentials B.S. Columbia University in New York City, 1970
J.D. (Law Degree) Brooklyn Law School, 1990 -- Cum Laude
Question Can my sports league (an LLC) accept cash donations from a booster club (a non-profit)? If so, how is it recorded on our books?
Answer It appears that your sports league is not a tax-exempt organization. Therefore, funds given to your organization from a 501(c)(3) organization are not called donations, but may be called grants or payments by the 501(c)(3) organization. See page 2 of
www.irs.gov/pub/irs-tege/draftform990redesign_schi_instr.pdf
which discusses the instruction for the exempt organization.
---Start of Excerpt--
Schedule I Instructions
Purpose of Form
This schedule provides information on organizations, governments and individuals in the United States that received grants or other distributions from the organization during the tax year.
Grants, assistance and other distributions include awards, prizes, allocations, stipends, scholarships, fellowships, research grants, and similar payments made by the organization.
---End of Excerpt--
and also relevant in this context for an exempt organization are the instructions down through page 3.
I have in my profile that this free forum is only for relevant IRS federal exemption issues of 501(c)(3) organizations. As to your tax records, I would be willing to work on your matter, but I would need to spend a substantial amount of time and that would be beyond the scope of this free forum. If you want to hire me for such work, please contact me directly to the email address below.
Harvey Mechanic
Attorney at Law
Harvey108@hotmail.com
