It seems that there has been some confusion regarding last week’s article on IRS Form 990, particularly Schedule O. In this short article, I want to expand a bit on that discussion and clear up some misconceptions.
We had a caller last week take us to task for hyping Schedule O as some kind of monster. His comments (paraphrased) were along the lines of,
“You guys have some nerve. You are intentionally trying to create confusion to increase your business. I looked at Schedule O and it’s no big deal. It’s a blank form!”
Point taken..sort of. Yes, it is true that Schedule O is a mostly blank form with a bunch on lines on it. But no, we are not hyping anything at all. First of all, that would be a disservice to our clients. It would also be a very short-sighted business plan. The truth is that, like everything related to 501(c)(3), things are more complex than they appear.