The donor summary section is an interesting section of the Form 990 as it is generally withheld from any copy of the return that is made available for public inspection. You should be aware that you are not required to (nor should you) furnish Schedule B with such copies, as it contains confidential information about your donors. However, you should be prepared to furnish the required information to your accountant for the preparation of the 990. This information should include such details as the donors’ names, addresses, amounts given, type of property if the donation is something other than cash, and the date of donation. The other item of note about the donor summary/Schedule B is that only donors who contributed over the greater of $5,000 or 2% of total contributions will be included, which means that this is not an all-inclusive list of donors.
While we can appreciate that you may balk at providing such confidential information, it is required by the IRS. One of the reasons that the IRS wants to see this information is to ensure that disqualified persons are not predominantly funding your organization. Another reason they want this information is to give them something to reference the individual’s or corporation’s donation deduction. You should note that the Schedule B is not provided to Guidestar so it is not made available on their website.
Katie Thomas, CPA