Schedule O is a form used by organizations filing Form 990-EZ with the IRS to provide narrative information. It's essentially a space to elaborate on details that don't fit neatly into the standard Form 990-EZ sections.
In simpler terms, Schedule O is a supplementary sheet used to provide additional explanations to the IRS.
Purpose of Schedule O
The primary purpose of Schedule O is to give organizations the opportunity to offer more detailed explanations or descriptions relating to their activities, policies, or other relevant aspects that may not be fully covered in the main Form 990-EZ. This helps the IRS understand the organization's operations more completely.
Key Points About Schedule O
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For Form 990-EZ Filers: Schedule O is specifically associated with Form 990-EZ, which is a shorter version of the Form 990 used by smaller tax-exempt organizations.
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Narrative Information: It's designed for narrative, descriptive information.
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Don't Duplicate: According to the IRS, you should not use Schedule O to simply repeat information requested on other schedules. It's for supplemental explanations.
