Part X. Balance Sheet

Check the box in the heading of Part X if Schedule O (Form 990) contains any information pertaining to this part.

Section 501(c)(21) trusts. Use Schedule O (Form 990) to report the FMV of the trust’s assets at the beginning of the mine operator’s tax year within which the trust’s tax year begins.

All organizations must complete Part X. No substitute balance sheet will be accepted. All references to Schedule D are to Schedule D (Form 990).

Column (A)—Beginning of year. In column (A), enter the amount from the preceding year’s Form 990, column (B). If the organization was excepted from filing Form 990 for the preceding year, enter amounts the organization would have entered in column (B) for that year. If this is the organization’s first year of existence, enter zero in column (A) of lines 16, 26, 32, and 33.

Column (B)—End of year. When Schedule D (Form 990) reporting is required for any item in Part X, it is only for the end-of-year balance sheet figure reported in column (B). If this is the organization’s final return, enter zero in column (B) of lines 16, 26, 32, and 33.

Line 1. Cash (non-interest-bearing). Enter the total funds that the organization has in cash, including amounts held as “petty cash” at its offices or other facilities, and amounts held in banks in non-interest-bearing accounts. Don’t include cash balances held in an investment account with a financial institution and reported on lines 11 through 13.

Line 2. Savings and temporary cash investments. Enter the combined total of amounts held in interest-bearing checking and savings accounts, deposits in transit, temporary cash investments (such as money market funds, commercial paper, and certificates of deposit), and U.S. Treasury bills or other governmental obligations that mature in less than a year. Don’t include cash balances held in an investment account with a financial institution and reported on lines 11 through 13. Don’t include advances to employees or officers or refundable deposits paid to suppliers or other independent contractors . Report the income from these investments on Part VIII, line 3.

Line 3. Pledges and grants receivable, net. Enter the total of (a) all pledges receivable, less any amounts estimated to be uncollectible, including pledges made by officers, directors, trustees, key employees, and highest compensated employees ; and (b) all grants receivable.

Organizations that follow ASC 958 can report the present value of the grants receivable as of each balance sheet date.

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Line 4. Accounts receivable, net. Enter the organization’s total accounts receivable (reduced by any allowance for doubtful accounts) from the sale of goods and the performance of services. Report claims against vendors or refundable deposits with suppliers or others here, if not significant in amount. Otherwise, report them on line 15, “Other assets.” Report the net amount of all receivables due from officers, directors, trustees, or key employees on line 5. Report receivables (including loans and advances) due from other disqualified persons on line 6. Receivables (including loans and advances) from employees who aren’t current or former officers, directors, trustees, key employees, or disqualified persons must be reported on line 7.

Lines 5 and 6. Loans and other receivables from current and former officers, directors, trustees, key employees, and creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons. Report on line 5 loans and other receivables due from current or former officers, directors, trustees, key employees, and creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons . Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations must also report on line 6 receivables due from other disqualified persons (for purposes of section 4958, see Appendix G ), and from persons described in section 4958(c)(3)(B). Include all amounts owed on secured and unsecured loans made to such persons. Report interest from such receivables on Part VIII, line 11. Don’t report on line 5 or 6 (a) pledges or grants receivable, which are to be reported on line 3; or (b) receivables that are excepted from reporting on Schedule L (Form 990), Part II (except for excess benefit transactions involving receivables). If the organization must report loans and other receivables on either line 5 or 6, it must answer “Yes” on Part IV, line 26.

Line 7. Notes and loans receivable, net. Enter the net amount of all notes receivable and loans receivable not listed on lines 5 and 6, including receivables from unrelated third parties. The term “unrelated third parties” includes independent contractors providing goods or services and employees who aren’t current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons . Don’t include the following.

• Receivables reported on line 4.

• Program-related investments reported on line 13.

• Notes receivable acquired as investments reported on line 12.

Line 8. Inventories for sale or use. Enter the amount of materials, goods, and supplies held for future sale or use, whether purchased, manufactured by the organization, or donated.

Line 9. Prepaid expenses and deferred charges. Enter the amount of short-term and long-term prepayments of expenses attributable to one or more future accounting periods. Examples include prepayments of rent, insurance, or pension costs, and expenses incurred for a solicitation campaign to be conducted in a future accounting period.

Line 10a. Land, buildings, equipment, and leasehold im- provements. Enter the cost or other basis of all land, buildings, equipment, and leasehold improvements held at the end of the year. Include both property held for investment purposes and property used for the organization’s exempt functions. If an amount is reported here, answer “Yes” on Part IV, line 11a, and complete Schedule D (Form 990), Part VI. The amount reported on line 10a must equal the total of columns (a) and (b) of Schedule D (Form 990), Part VI.

Line 10b. Accumulated depreciation. Enter the total amount of accumulated depreciation for the assets reported on line 10a.

The amount reported on line 10b must equal the total of column (c) of Schedule D (Form 990), Part VI.

Line 10c. Column (A)—Beginning of year. Enter the cost or other basis of land, buildings, and equipment, net of any accumulated depreciation, as of the beginning of the year.

Line 10c. Column (B)—End of year. Enter line 10a minus line 10b. The amount reported must equal the total of column (d) of Schedule D (Form 990), Part VI.

Line 11. Investments—publicly traded securities. Enter the total value of publicly traded securities held by the organization as investments. Publicly traded securities include common and preferred stocks, bonds (including governmental obligations such as bonds and Treasury bills), and mutual fund shares that are listed and regularly traded in an over-the-counter market or an established exchange and for which market quotations are published or are otherwise readily available. Report dividends and interest from these securities on Part VIII, line 3.

Don’t report on line 11 publicly traded stock for which the organization holds 5% or more of the outstanding shares of the same class or publicly traded stock in a corporation that comprises more than 5% of the organization’s total assets . Report these investments on line 12.

Line 12. Investments—other securities. Enter on this line the total value of all securities, partnerships, or funds that aren’t publicly traded. This includes stock in a closely held company whose stock isn’t available for sale to the general public or which isn’t widely traded. Other securities reportable on line 12 also include publicly traded stock for which the organization holds 5% or more of the outstanding shares of the same class, and publicly traded stock in a corporation that comprises more than 5% of the organization’s total assets . Don’t include program-related investments.

If an amount is reported on this line that is 5% or more of the amount reported on Part X, line 16, answer “Yes” on Part IV, line 11b, and complete Schedule D (Form 990), Part VII. The amount reported in column (B) of Part X, line 12, must equal the total of column (b) of Schedule D (Form 990), Part VII.

Line 13. Program-related investments. Report here the total book value of all investments made primarily to accomplish the organization’s exempt purposes rather than to produce income. Examples of program-related investments include student loans and notes receivable from other exempt organizations that obtained the funds to pursue the filing organization’s exempt function.

If the amount reported on this line is 5% or more of the amount reported on Part X, line 16, answer “Yes” on Part IV, line 11c, and complete Part VIII of Schedule D (Form 990). The amount reported in column (B) of Part X, line 13, must equal the total of column (b) of Schedule D (Form 990), Part VIII.

Line 14. Intangible assets. Report on this line the total value of all non-monetary, non-physical assets such as copyrights, patents, trademarks, mailing lists, or goodwill.

Line 15. Other assets. Report on this line the total book value of all assets held and not reported on lines 1 through 14.

If an amount is reported on this line that is 5% or more of the amount reported on Part X, line 16, answer “Yes” on Part IV, line 11d, and complete Schedule D (Form 990), Part IX. The amount reported in column (B) of Part X, line 15, must equal the total of column (b) of Schedule D (Form 990), Part IX.

Line 16. Total assets. Add the totals in columns (A) and (B) of lines 1 through 15. The amounts on line 16 must equal the amounts on line 33 for both the beginning and end of the year. The organization must enter a zero or a dollar amount on this line.

48 2025 Instructions for Form 990

Line 17. Accounts payable and accrued expenses. Enter the total of accounts payable to suppliers, service providers, property managers, and other independent contractors, plus accrued expenses such as salaries payable, accrued payroll taxes, and interest payable.

Section 501(c)(21) trusts. Include accrued trustee fees, etc. Do not include the present value of payments for approved claims, or the estimated liability for future claims.

Line 18. Grants payable. Enter the unpaid portion of grants and awards that the organization has committed to pay other organizations or individuals, whether or not the commitments have been communicated to the grantees.

Section 501(c)(21) trusts. Include payments for approved black lung claims that are due but not paid. Do not include amounts for black lung claims being contested.

Line 19. Deferred revenue. Report revenue that the organization has received but not yet earned as of the balance sheet date under its method of accounting.

Line 20. Tax-exempt bond liabilities. Enter the amount of tax-exempt bonds (or other obligations) for which the organization has a direct or indirect liability that were either issued by the organization on behalf of a state or local governmental unit, or by a state or local governmental unit on behalf of the organization, and for which the organization has a direct or indirect liability. Tax-exempt bonds include state or local bonds and any obligations, including direct borrowing from a lender, or certificates of participation, the interest on which is excluded from the gross income of the recipient for federal income tax purposes under section 103.

See also Part IV, line 24a, and Schedule K (Form 990).

Line 21. Escrow or custodial account liability. Enter the amount of funds or other assets held in an escrow or custodial account for other individuals or organizations. Enter these amounts only if the related assets (such as cash) are reported on lines 1 through 15 of this part. If an amount is reported on this line, the organization must also answer “Yes” on Part IV, line 9, and complete Schedule D (Form 990), Part IV. If the organization has signature authority over, or another interest in, an escrow or custodial account for which it doesn’t report the assets or liabilities, it must also answer “Yes” on Part IV, line 9, and complete Schedule D (Form 990), Part IV.

Example. A credit counseling organization collects amounts from debtors to remit to creditors and reports the amounts temporarily in its possession as cash on line 1 of the balance sheet. It must then report the corresponding liability (the amounts to be paid to the creditors on the debtors’ behalf) on line 21.

Lines 22–24. Enter on line 22 the unpaid balance of loans and other payables (whether or not secured) to current and former officers, directors, trustees, key employees, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons, and persons described in section 4958(c)(3)(B). If the organization reports a loan payable on this line, it must answer “Yes” on Part IV, line 26. Don’t report on line 22 accrued but unpaid compensation owed by the organization. Don’t report on line 22 loans and payables excepted from reporting on Schedule L (Form 990), Part II (except for excess benefit transactions involving receivables).

On line 23, enter the total amount of secured mortgages and notes payable to unrelated third parties that are secured by the organization’s assets as of the end of the tax year . Report on line 25 (and not line 23) any secured mortgages and notes payable to related organizations .

On line 24, enter the total amount of notes and loans that are payable to unrelated third parties but aren’t secured by the

organization’s assets. Report on line 25 (and not line 24) any unsecured payables to related organizations.

Line 25. Other liabilities. Enter the total amount of all liabilities not properly reportable on lines 17 through 24. Items properly reported on this line include federal income taxes payable and secured or unsecured payables to related organizations . The organization must also answer “Yes” on Part IV, line 11e, and complete Schedule D (Form 990), Part X.

Line 26. Total liabilities. Add the totals in columns (A) and (B) of lines 17 through 25. The organization must enter a zero or a dollar amount on this line.

Net Assets and Fund Balances FASB Accounting Standards Codification 958, Not-for-Profit Entities (ASC 958) provides standards for external financial statements certified by an independent accountant for certain types of nonprofit organizations. ASC 958-10-15-5 doesn’t apply to credit unions, VEBAs, supplemental unemployment benefit trusts, section 501(c)(12) cooperatives, and other member benefit or mutual benefit organizations.

While some states may require reporting according to FASB ASC 958, the IRS doesn’t. However, a Form 990 return prepared according to ASC 958 will be acceptable to the IRS.

Organizations that follow ASC 958. If the organization follows ASC 958, check the box above line 27, and complete lines 27 through 28, and lines 32 and 33. Classify and report net assets in two groups in Part X (unrestricted, donor-restricted) based on the existence or absence of donor-imposed restrictions and the nature of those restrictions. Enter the sum of the two classes of net assets on line 32. On line 33, add the amounts on lines 26 and 32 to show total liabilities and net assets. The amount on line 33 must equal the amount on line 16.

Caution: Effective for reporting years ending after December 15, 2017, ASC 958-205, Not-for-Profit Entities—Presentation of Financial Statements (ASC 958), addresses reporting of donor-restricted endowments and board-designated (quasi) endowments . Further, most states have enacted the Uniform Prudent Management of Institutional Funds Act (UPMIFA). If the organization is subject to UPMIFA or ASC 958, it may affect the amounts reported on lines 27 through 28.

Line 27. Net assets without donor restrictions. Enter the balance per books of net assets without donor restrictions. All funds without donor-imposed restrictions must be reported on line 27, regardless of the existence of any board designations or appropriations.

Line 28. Net assets with donor restrictions. Enter the balance per books of net assets with donor restrictions . Donors’ restrictions may require that resources be used after a specified date (time restrictions), or that resources be used for a specified purpose (purpose restrictions), or both. Donors may also stipulate that assets, such as land or works of art, be used for a specified purpose, be preserved, and not be sold or donated with stipulations that they be invested to provide a permanent source of income.

Organizations that don’t follow ASC 958. If the organization doesn’t follow ASC 958, check the box above line 29 and complete lines 29 through 33. Report capital stock, trust principal, or current funds on line 29. Report paid-in capital surplus or land, building, or equipment funds on line 30. Report retained earnings, endowment, accumulated income, or other funds on line 31.

Line 29. Capital stock or trust principal, or current funds. For corporations, enter the balance per books of capital stock accounts. Show par or stated value (or for stock with no par or

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stated value, total amount received on issuance) of all classes of stock issued and not yet canceled. For trusts, enter the amount in the trust principal or corpus. For organizations using the fund method of accounting, enter the fund balances for the organization’s current restricted and unrestricted funds.

Line 30. Paid-in or capital surplus, or land, building, and equipment fund. Enter the balance of paid-in capital in excess of par or stated value for all stock issued and not yet canceled, as recorded on the corporation’s books. If stockholders or others made donations that the organization records as paid-in capital, include them here. Enter the fund balance for the land, building, and equipment fund on this line.

Line 31. Retained earnings, endowment, accumulated in- come, or other funds. For corporations, enter the balance of retained earnings as recorded on the corporation’s books, or similar account, minus the cost of any corporate treasury stock. For trusts, enter the balance in the accumulated income or similar account. For those organizations using the fund method of accounting, enter the total of the fund balances for the net assets without donor restrictions funds, and the net assets with donor restrictions funds, as well as balances of any other funds not reported on lines 29 and 30.

Line 32. Total net assets or fund balances. For organizations that follow ASC 958, enter the total of lines 27 through 28. For all other organizations, enter the total of lines 29 through 31. All filers must enter a zero or a dollar amount on this line.

Line 33. Total liabilities and net assets/fund balances. Enter the total of line 26 and line 32. This amount must equal the amount on line 16. The organization must enter a zero or a dollar amount on this line.