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A disqualified person is any person who was in a position to exercise substantial influence over the affairs of the applicable tax-exempt organization at any time during the lookback period. It is not necessary that the person actually exercise substantial influence, only that the person be in a position to do so.

Disqualified persons are defined as: Trustees or Directors; Officers; Foundation managers with similar powers to officers, trustees and directors (such as an Executive Director);

For the rules relating to private foundation excise taxes, the following persons are considered disqualified persons with respect to a private foundation: All substantial contributors to the foundation. All foundation managers of the foundation.

Schedule A (Form 990) is used by an organization that files Form 990, Return of Organization Exempt From Income Tax, or Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, to provide the required information about public charity status and public support.

The core of the concern largely surrounds which parties are involved and if there was an arms-length approach used in the particular situation of concern. These parties can be board members, relatives, employees, etc., but usually, they are also what's known as a disqualified person. What Does Disqualified Mean?

Excess contributions are those that exceed 2% of the total contribution revenue for a five-year rolling period. Governmental agencies and other 501(c)(3) non-profit organization's contributions are excluded from the calculation of excess contribution.

Contributions reportable on Schedule B (Form 990) are contributions, grants, bequests, devises, and gifts of money or property, whether or not for charitable purposes. For example, political contributions to section 527 political organizations are included.

A Corporation is a disqualified person if a substantial contributor, foundation manager, 20 percent owner, or the family members of any such individuals, own more than 35 percent of the total combined voting power in the corporation. This includes constructive holdings.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232