Filling out Form 990

An apology or two

I’ve had an insane week that has put me so far behind on a number of things I may never catch up.

First, my apologies: I have a piece in hand for liver radio-embolization. I’d promised the writer to get it back to him with my edits close to two weeks ago. I just haven’t gotten there. The piece is coming–just not as soon as I’d like.

…my bottom line. 

There is also a series on immunotherapy coming. I’ve, again, been too busy to write it and get it off to the doctor who has agreed to read it and make sure I don’t screw anything up. It is coming–just not quite yet. I want to be sure I get it right.

Life intervenes

Part of the problem is my father-in-law was admitted to the hospital again last weekend, one day before he was supposed to come home from rehab. He is doing better and is back in rehab as I write this, but it’s been a scary few days–and I’m not sure he is close to being out of the woods.

I want to be sure I get it right.

And then there’s the other fly in the ointment: I have been at work on our first long Form 990 EZ filing for Walking with Jane, Inc. For those of you not involved with running a foundation, we are required to file a form with the IRS every year in order to keep our tax exempt status. That is Form 990.

Living with the Form

That process, at the federal level, is insanely simple, until you raise more than $50,000 in a year. You file a postcard online that requires little more than your corporate ID number and a statement that you did not make more than $50,000. It takes about five minutes.

…it’s been a scary few days…

Unfortunately, the Commonwealth of Massachusetts requires you file one of the longer 990 forms if you go over $5,000, as well as a form of its own. That is significantly more complicated–and significantly more complicated than I anticipated. I now understand why our lawyer suggested we might want to think about an accountant.

Requirement makes sense

I understand why the Commonwealth requires the more complicated form. In fact, I wondered why the IRS didn’t require it as well. The detailed questions the form asks–and the records it requires one keep–make it pretty difficult for anyone short of a criminal genius to engage in fraud or embezzlement–at least I would think so.

That is significantly more complicated…

When time allows, I will post those completed forms on our About Us section of this website. I think it’s important that you see what kind of money comes through our door at this point–and where that money goes. It isn’t a huge amount–about $21,000 last year, if memory serves–actually passed through our hands.

Money vs. Money

That’s a very different number than the amount we generate each year. Most of the money we create for carcinoid/NETs research is given by donors directly to the Dana-Farber Cancer Institute, the American Cancer Society, the Caring for Carcinoid Foundation or the Carcinoid Cancer Foundation. Unless it is donated to our Jimmy Fund Walk, the Walking with Jane Fund at DFCI or to our Relay for Life team’s online site, I don’t even know that money exists unless the director of an organization says it happened. And they often don’t know it has.

It isn’t a huge amount…

 

I know it happens because I see on our stats page here that people clicked on a “giving” link to those organizations–but once you’ve gone to their site to make a donation, there is no paper trail here about what you gave them. And they have no idea that you arrived there from out site and made a particular donation–unless they have a better stats section than we do.

The point of the exercise

 

I can say with certainty that our Walking with Jane, Hank and Anne Jimmy Fund Walk team generated just under $67,000 for NET cancer research at DFCI in 2014, for example. I can also say, with certainty, that less than 20 percent of that money was ever held by Walking with Jane, Inc. I can also say with certainty that another $15,000 was donated  last year directly to the Walking with Jane Fund at DFCI that I set up in the year after Jane’s death–and that none of that money ever was a part of Walking with Jane, Inc., for all that I know Walking with Jane inspired that amount to be donated.

I know it happens…

And it doesn’t bother me. When I started on this journey my only interest was in finding a way to cure carcinoid/NETs. Part of that is about raising awareness: you really can’t cure something if you don’t know it exists. Part of that is about research–and you can’t do research without a steady flow of money. If people want to give that money to Walking with Jane because they don’t want to get on someone else’s mailing list, that’s fine with me. If they want to give that money to some other group engaged in fighting carcinoid/NETs because of something they read here or hear me say somewhere, that’s fine with me, too.

The ultimate goal

So long as we find a cure, so long as this disease goes into the dustbin of history with small pox and polio, so long as we find ways to let people take the walks Jane and I will never get to take,  I don’t care who gets the money or the credit. I just want this disease dead before it kills someone you love.

…that’s fine with me.

And that’s my bottom line.

For a neophyte, filling out the Federal Form 990 is an obstacle course under the best of circumstances. These have not been the best of circumstances.
For a neophyte, filling out the Federal Form 990 is an obstacle course under the best of circumstances. These have not been the best of circumstances.

 

 

2 thoughts on “Filling out Form 990

    1. Thanks, Lucy. CFCF and WWJ are not formally linked in any legal way–which is important where Form 990 is concerned. But we are supportive of each other’s efforts.

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