Need expert on 990 & 990T

Are you certain the Bingo is UBTI and is not direct program revenue?

Not direct program revenue, I don't think, their program purpose is definitely not gaming! They are a small town youth assoc whose purpose is to provide adult supervised sports for children to age 11 (peewee football, basketball, baseball, etc) By what I can determine from instructions, I need to include the revenue & expenses on Part 1, ln 6 (special events & activities) and check that part is from gaming. Then complete the 990-T for just the bingo LOSS (remember I said operation failed MISERABLY)!!

The correct answer depends in large part on which tax form you are completing - is it a 2007 form 990 and 990-T or a 2008 form 990 and

If the organization's gross receipts are less than $100,000 and its assets less than $250,000, the organization is eligible to file the form 990-EZ if desired. It may file the long form if the long form is preferred. For 501(c)3 organizations, Schedule A is required.

Generally a separate EIN number means a separate tax return, but if the bingo operation is a disregarded entity under regulation section

Bingo games should be reported on line 9 under special events. The form 990 instructions are pretty clear on how to report special events and give several helpful examples. Since the bingo games aren't "regularly carried on", UBI doesn't seem to apply. There is no barrier to reporting losses on line 9 of form 990.

Good luck, Crystal

Crystal-Thanks for the information. This is the 2008 990EZ & 990T that I was asking about. I think you've answered my questions.

I was able to locate the 2007 information and It does look like 2007 returns were done with the 2007 bingo loss included in with special events on the 990, and also a 990-T was done for just the bingo TIN.

I think I'm going to do same for 2008 and hope that it is correct! N Owen

The 2008 form is quite different from the 2007 form, as I'm sure you've noticed! Remember that if you report more than $15,000 on line

Regardless of how the bingo was reported in 2007, the 2008 form 990 instructions are pretty clear that bingo is not UBI. From the instructions:

"Income from bingo games is not generally subject to the tax on unrelated business income if the games meet the legal definition of bingo. For a game to meet the legal definition of bingo, wagers must be placed, winners must be determined, and prizes or other property must be distributed in the presence of all persons placing wagers in that game. A wagering game that does not meet the legal definition of bingo does not qualify for the exclusion, regardless of its name. For example, instant bingo, in which a player buys a pre-packaged bingo card with pull-tabs that the player removes to determine if he or she is a winner, does not qualify. See Pub 598, Tax on Unrelated Business Income of Exempt Organizations and Form 990-T."

-Crystal