Tuesday, August 1, 2023

IRS Exempt Organization Statistics - 2019 990 Data, 2017 UBIT Data

DownloadFor those interested in the details of Form 990 reporting, the IRS recently released two sets of data.

First, the Tax Year 2019 Form 990 aggregate data is now available at the IRS Statistics of Income Tax Stats - Charities & Other Tax-Exempt Organizations Statistics webpage. Highlights include:

  • 218,516 Form 990 returns were filed by section 501(c)(3) organizations, reporting estimated total assets of over $4.7 trillion, total liabilities of over $1.8 trillion, total revenue of over $2.4 trillion, and total expenses of almost $2.3 trillion. But only slightly under 9,000 of those returns were for organizations reporting $50 million or more in assets.
  • The number of Form 990 returns (and aggregate financial figures) were much less for other major 501(c) categories, with 11,639 returns for 501(c)(4)s, 10,085 returns for 501(c)(5)s, 19,154 returns for 501(c)(6)s, and 9,257 returns for 501(c)(7)s.
  • Form 990-EZ returns were also less for all 501(c) categories, with 85,715 returns for 501(c)(3)s.

Second, the Tax Year 2017 Form 990-T aggregate data is now available at the IRS Statistics of Income Tax Stats - Exempt Organizations' Unrelated Business Income (UBI) Tax Statistics webpage. Highlights include:

  • There were 80,711 returns filed, including almost 30,000 for traditional IRA accounts but almost all the rest by section 501(c) organizations, including 39,847 filed by 501(c)(3)s.
  • For the 501(c)(3) returns, about $10.5 billion in gross unrelated business income was reported and slightly over $10 billion in deductions, resulting in taxable income of less than $500 million (including taking deficit returns into account) and  slightly over $1.7 billion (excluding deficit returns). This resulted in total tax owed of approximately $470 million.

Lloyd Mayer

https://lawprofessors.typepad.com/nonprofit/2023/08/irs-exempt-organization-statistics-2019-990-data-2017-ubit-data.html

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