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The New IRS Form 990: What Does It Mean For Your ... - Venable LLP

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"OLD" FORM <strong>990</strong> "NEW" FORM <strong>990</strong><br />

Whose Compensation<br />

Is Reported<br />

Who Must Report<br />

<strong>What</strong> Must Be<br />

Reported<br />

Who Must Report<br />

<strong>What</strong> Must Be<br />

Reported<br />

Current officers,<br />

directors, trustees, and<br />

key employees, if<br />

receiving compensation<br />

from related<br />

organizations<br />

All organizations<br />

(1) Names of<br />

individuals and<br />

related<br />

organizations;<br />

(2) description of<br />

relationship;<br />

(3) three-part<br />

breakout of<br />

compensation 5 All organizations Included above<br />

<strong><strong>For</strong>m</strong>er officers,<br />

directors, trustees, and<br />

key employees, if<br />

receiving compensation<br />

All organizations<br />

regardless of amount of<br />

compensation<br />

(1) Name and<br />

address;<br />

(2) three-part<br />

breakout of<br />

compensation; 6<br />

(3) loans and<br />

advances<br />

All organizations if:<br />

(1) more than $100,000 of<br />

reportable compensation from<br />

organization and related<br />

organizations, in case of<br />

former employee; and<br />

(2) more than $10,000 of<br />

(1) Name and title;<br />

(2) reportable<br />

compensation 7 from<br />

organization and<br />

related organizations;<br />

(3) other<br />

compensation 8 from<br />

5 See footnote 2.<br />

6 See footnote 2.<br />

7 See footnote 3.<br />

8 See footnote 4.<br />

© 2008 <strong>Venable</strong> <strong>LLP</strong> 2<br />

This chart is published by the Employee Benefits and Executive Compensation Practice Group of the law firm <strong>Venable</strong> <strong>LLP</strong>. <strong>It</strong> is not intended to provide legal advice or opinion. Such<br />

advice may only be given when related to specific fact situations that <strong>Venable</strong> has accepted an engagement as counsel to address.

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