Schedule D (Form 990) Instructions⁚ A Comprehensive Guide

Schedule D (Form 990) is a supplemental financial statement that organizations filing Form 990 use to report additional information about their financial status. It is used to provide detailed reporting on donor-advised funds, conservation easements, certain art and museum collections, escrow or custodial accounts or arrangements, endowment funds, and other supplemental financial information. This comprehensive guide will cover the purpose, filing requirements, and instructions for completing Schedule D.

Introduction

The Internal Revenue Service (IRS) requires certain nonprofit organizations to file Form 990, which is an information return that provides details about the organization’s activities and finances. Schedule D, which is attached to Form 990, is used to report additional financial information that is not included on other sections of the form. It allows the IRS to gain a more comprehensive understanding of the organization’s financial activities and ensure compliance with tax regulations. Schedule D is a crucial component of the Form 990 filing process and serves as a valuable resource for stakeholders interested in evaluating an organization’s financial transparency and stewardship.

Purpose of Schedule D (Form 990)

Schedule D (Form 990) serves a crucial role in providing transparency and accountability for nonprofit organizations by offering a platform for reporting detailed financial information that complements the main Form 990. This schedule is particularly important for organizations that engage in activities involving donor-advised funds, conservation easements, art and museum collections, escrow or custodial accounts, endowment funds, and other specific financial arrangements. By requiring these organizations to disclose detailed information about these activities, Schedule D allows stakeholders, including the IRS, to understand how these funds are managed and utilized. It ensures compliance with tax regulations and fosters public trust in the financial management practices of nonprofit organizations.

Filing Requirements

Nonprofit organizations that file Form 990 are required to attach Schedule D if they answered “Yes” to specific questions on Part IV of Form 990. These questions cover various aspects of the organization’s financial activities, including the presence of donor-advised funds, conservation easements, art and museum collections, escrow or custodial accounts, endowment funds, and other supplemental financial information. Organizations that meet these criteria are obligated to complete and submit Schedule D along with their Form 990, providing the IRS and the public with a comprehensive view of their financial operations. Failure to comply with these filing requirements can result in penalties and jeopardize the organization’s tax-exempt status.

Information Reported on Schedule D

Schedule D (Form 990) requires organizations to provide detailed information about various aspects of their finances. This includes reporting on donor-advised funds, such as the total number of funds at the end of the year, the aggregate value of contributions received during the year, and the aggregate value of grants distributed during the year. Information on conservation easements, including the total acreage protected, the fair market value of the easement, and the amount of any related expenses, is also required. Schedule D further requests details about certain art and museum collections, including the aggregate value of the collection, the number of items in the collection, and the method used to determine the value. Additionally, organizations must report information about escrow or custodial accounts or arrangements, including the nature of the accounts, the amount of funds held, and the purpose of the accounts. Finally, Schedule D requires detailed reporting on endowment funds, including the total amount of endowment assets, the amount of income earned, and the amount of expenditures made from the endowment.

Donor Advised Funds

Schedule D requires organizations to provide detailed information about donor-advised funds (DAFs), which are charitable giving vehicles that allow donors to make contributions, receive tax deductions, and recommend grants from the fund over time. The reporting requirements for DAFs include the total number of funds held by the organization at the end of the tax year, the aggregate value of contributions received during the year, and the aggregate value of grants distributed during the year. The organization must also report the total amount of assets held in DAFs at the end of the tax year. This information provides transparency to the IRS and the public about the organization’s management of DAFs and its charitable giving activities.

Conservation Easements

Organizations that hold conservation easements, which are legal agreements that restrict the development of land for conservation purposes, must report information about these easements on Schedule D. The reporting requirements include the total number of easements held by the organization, the aggregate value of the easements at the end of the tax year, and any changes in the value of the easements during the year. The organization must also provide information about the property subject to the easements, including the location and acreage, and the terms of the easements, such as the duration and the restrictions on development. This information helps the IRS understand the organization’s conservation activities and the impact of these easements on the protected land.

Art and Museum Collections

If an organization maintains a collection of art or museum artifacts, Schedule D requires reporting information about these assets. This includes the total number of items in the collection, their estimated aggregate fair market value at the end of the tax year, and any changes in value during the year. The organization must also report any acquisitions or disposals of art or museum items during the year, including the cost of acquisition or the proceeds from any sales. This information allows the IRS to assess the organization’s stewardship of its collection and to ensure that any sales of art or museum items are properly reported for tax purposes. Additionally, reporting details about the collection helps demonstrate the organization’s commitment to preserving cultural heritage and its impact on the community.

Escrow or Custodial Accounts

Organizations often hold funds or assets in escrow or custodial accounts for various purposes, such as managing donations, holding funds for specific projects, or facilitating transactions. Schedule D requires reporting information about these accounts, including the total balance at the end of the tax year, the purpose of the account, and any transactions that occurred during the year. This includes deposits, withdrawals, and any changes in the account balance. The organization must also disclose the identity of the parties involved in the escrow or custodial arrangement, such as the donor, the beneficiary, and the trustee. This information helps the IRS ensure that these accounts are managed appropriately and that the funds are used for their intended purpose.

Endowment Funds

Endowment funds are a crucial component of many nonprofit organizations, providing a sustainable source of income for their mission. Schedule D requires detailed reporting of endowment fund information, including the total value of the endowment at the end of the tax year, the amount of contributions received during the year, and the amount of distributions made from the endowment. This information is critical for understanding the financial health of the organization and its ability to meet its long-term goals. The organization must also provide information about the endowment’s investment strategy, including the types of assets held and the investment performance. The IRS uses this information to ensure that the endowment is managed appropriately and that the funds are used for their intended purpose, which is typically to provide long-term support for the organization’s mission.

Completing Schedule D

Completing Schedule D requires careful attention to detail and accuracy. The instructions for Schedule D provide specific guidance on how to report each item, including the required format and supporting documentation. Organizations should carefully review the instructions and ensure that all information is accurate and complete. The IRS provides a variety of resources to help organizations complete Schedule D, including online instructions, publications, and videos. Organizations should also consult with a qualified tax professional if they have any questions or need assistance in completing the form. It is crucial to maintain proper records and documentation to support the information reported on Schedule D. The IRS may request additional documentation to verify the accuracy of the information provided. Organizations should also keep in mind that the information reported on Schedule D is subject to public disclosure, so it is important to ensure that the information is accurate and presented in a clear and understandable manner. This transparency builds trust with donors and stakeholders, demonstrating the organization’s commitment to accountability and responsible financial management.

Submitting Schedule D

Schedule D must be submitted along with Form 990 to the IRS. Organizations have the option to file their Form 990 electronically or by mail. If filing electronically, organizations must use IRS-approved tax preparation software that supports Schedule D. For paper filing, organizations can download the forms and instructions from the IRS website and mail them to the address provided on the form. The IRS offers various resources to help organizations file their Form 990, including online tools, publications, and videos. Organizations should carefully review the filing instructions and deadlines to ensure timely and accurate submission; The IRS also provides guidance on how to correct errors on Schedule D. If an organization discovers an error after filing, they must file an amended return using Form 990-X; Organizations should retain copies of their filed Form 990 and Schedule D for their records. The IRS may require these documents for audits or other purposes. It is important to note that failure to file Schedule D or filing inaccurate information can result in penalties from the IRS. Organizations should seek professional guidance if they have any questions or concerns about filing Schedule D.

Resources and Assistance

The IRS provides various resources to help organizations understand and complete Schedule D (Form 990). These resources include⁚

• IRS website⁚ The IRS website offers detailed instructions, forms, and publications related to Schedule D. You can access these resources by searching for “Schedule D (Form 990)” on the IRS website.
• Tax preparation software⁚ Many tax preparation software programs support Schedule D and can guide you through the filing process. Look for software that is IRS-approved and specifically designed for non-profit organizations.
• Tax professionals⁚ If you need assistance with completing Schedule D, you can consult with a tax professional. Tax professionals have expertise in tax law and can help you ensure accuracy and compliance.

The IRS also offers guidance on how to correct errors on Schedule D. If an organization discovers an error after filing, they must file an amended return using Form 990-X. Organizations should retain copies of their filed Form 990 and Schedule D for their records. The IRS may require these documents for audits or other purposes.

Ekopel 2K Instructions⁚ A Comprehensive Guide

This comprehensive guide provides detailed instructions on how to use Ekopel 2K, a high-quality bathtub refinishing coating. From preparation and cleaning to application and curing, we cover all aspects of the process to ensure a successful and long-lasting refinishing project. Whether you’re a seasoned DIYer or a first-timer, this guide will equip you with the necessary knowledge and steps for a professional-looking finish.

Introduction

Refinishing your bathtub can be a daunting task, but with the right tools and knowledge, it can be a rewarding DIY project. Ekopel 2K is a popular choice for bathtub refinishing, offering a durable, long-lasting, and aesthetically pleasing finish. This comprehensive guide will walk you through every step of the process, from preparation to application and curing, ensuring you achieve professional-looking results.

Ekopel 2K is a two-part epoxy coating designed to revitalize your old bathtub, restoring its shine and functionality. Unlike cheaper spray-on solutions, Ekopel 2K forms a solid, durable layer that resists peeling and cracking, offering years of enjoyment. This guide will provide you with the necessary instructions and tips to maximize the effectiveness of Ekopel 2K and ensure a successful refinishing project.

Whether you’re tackling a chipped, stained, or simply outdated bathtub, Ekopel 2K offers a cost-effective alternative to replacement. By following these detailed instructions, you can transform your bathtub into a fresh and beautiful centerpiece of your bathroom, enhancing its look and longevity. Get ready to embark on your bathtub refinishing journey with Ekopel 2K, and let’s get started!

What is Ekopel 2K?

Ekopel 2K is a high-quality, two-part epoxy coating designed specifically for refinishing bathtubs, sinks, and shower pans. It offers a durable, long-lasting, and aesthetically pleasing finish, transforming old, worn-out surfaces into fresh and beautiful ones. The two-part system consists of a resin (Part A) and a hardener (Part B), which are mixed together to create a strong, water-resistant coating.

Unlike traditional bathtub paints or spray-on coatings, Ekopel 2K forms a solid, dense layer that resists peeling, cracking, and chipping. This makes it ideal for high-traffic areas like bathrooms, where the surface is exposed to frequent use and moisture. Ekopel 2K also offers excellent resistance to mold, mildew, and dirt, making it a hygienic and easy-to-clean solution for your bathroom.

Its unique formula creates a smooth, glossy finish that enhances the appearance of your bathtub, restoring its shine and making it look like new. Ekopel 2K is available in various colors, allowing you to customize your bathroom to match your décor and style preferences. With its durability, longevity, and ease of application, Ekopel 2K is a popular choice for DIY bathroom renovations, offering a cost-effective and hassle-free solution for revitalizing your bathtub.

Ekopel 2K Kits and Products

Ekopel 2K offers a range of kits and products designed to meet different refinishing needs. The most common kit is the “Pour On” kit, which is ideal for bathtubs and shower pans. This kit includes the necessary epoxy resin, hardener, and application tools for a complete DIY refinishing project. Ekopel 2K also offers a “Roll On” kit specifically designed for bathtubs and surrounds, providing a convenient and easy-to-use application method.

In addition to the standard kits, Ekopel 2K offers specialized products for specific applications. The “EKOPEL 2K-Classic” kit is perfect for refinishing shower and sink areas. The “EKOPEL 2K-Optimum” kit is designed for bathtub refinishing, while the “EKOPEL 2K-GOLD” kit provides a high-quality, durable finish for bathtubs. Ekopel 2K also offers a “Roll-On Tub & Tile” kit for refinishing both bathtubs and surrounding tile surfaces.

Each kit is carefully curated with the necessary tools and components to ensure a successful refinishing project. Ekopel 2K provides comprehensive instructions and detailed guides for each kit, ensuring that even novice DIYers can achieve professional-looking results. Whether you need a complete bathtub makeover or a targeted refinishing project, Ekopel 2K has a kit or product to meet your specific needs.

Preparation

Proper preparation is crucial for a successful Ekopel 2K refinishing project. Start by clearing the surrounding area, removing any items or furniture that could obstruct the process. Protect the surrounding surfaces with drop cloths or plastic sheeting to prevent any accidental spills or splashes. Ensure adequate ventilation in the work area, as Ekopel 2K emits fumes during the application process.

Before applying Ekopel 2K, you must thoroughly clean and prepare the bathtub surface. Remove any existing coatings, caulking, or sealant using a scraper or chemical stripper. Clean the surface with a degreaser to remove any oils, grime, or residues. Pay special attention to areas prone to soap scum build-up, such as the drain and around the faucet.

Once the surface is clean, it’s essential to roughen it up for better adhesion. Use sandpaper with a grit of 120 or 180 to lightly sand the entire surface, focusing on areas with imperfections or scratches. This step creates a textured surface that allows the Ekopel 2K coating to bond effectively. After sanding, wipe down the surface with a damp cloth to remove any dust particles.

Cleaning and Etching

Cleaning and etching are critical steps in preparing your bathtub for Ekopel 2K application. Start by removing any existing coatings, caulking, or sealant using a scraper or chemical stripper. These materials can interfere with the adhesion of the Ekopel 2K coating. After removing the old coatings, thoroughly clean the surface with a degreaser to eliminate oils, grime, and other residues. Pay attention to areas prone to soap scum build-up, such as the drain and around the faucet.

Next, you’ll need to etch the surface to create a rough texture that will improve the bonding of the Ekopel 2K coating. Use a commercially available etching solution specifically designed for bathtub refinishing. Apply the etching solution evenly to the entire surface, following the manufacturer’s instructions. Allow the solution to sit for the recommended time, then rinse it off thoroughly with clean water.

After etching, inspect the surface for any remaining residue or imperfections. If necessary, repeat the cleaning and etching process until the surface is completely clean and etched. Finally, rinse the bathtub thoroughly with clean water and allow it to dry completely before proceeding to the next step.

Sanding

Sanding is an essential step in the Ekopel 2K application process, ensuring a smooth and even surface for the coating to adhere to. After cleaning and etching, you’ll need to sand the bathtub surface using a fine-grit sandpaper, typically between 120 and 220 grit. Start by sanding the entire surface in a circular motion, focusing on areas where imperfections or unevenness exist.

Pay close attention to corners, edges, and the drain area, ensuring that these areas are sanded smooth to prevent the Ekopel 2K from pooling or cracking. As you sand, avoid excessive pressure, as this can create scratches or damage the surface. The goal is to create a slightly roughened surface that promotes adhesion without compromising the integrity of the bathtub.

Once you’ve finished sanding, use a damp cloth to wipe away any sanding dust and allow the surface to dry completely. This will ensure that the Ekopel 2K coating adheres properly and creates a smooth, professional finish.

Mixing Ekopel 2K

Mixing Ekopel 2K is a crucial step that requires precision and adherence to the manufacturer’s instructions. The kit typically includes two components, Part A and Part B, which must be mixed in the correct ratio for optimal performance and curing. Start by thoroughly cleaning the mixing container and tools to prevent contamination.

Pour the contents of Part A into the mixing container, followed by Part B. Use a mixing stick or drill with a mixing attachment to thoroughly combine the two components. Mix for a minimum of 3-5 minutes, ensuring that the mixture is completely homogenous and free of any clumps or streaks.

Once the mixture is thoroughly blended, allow it to sit for a few minutes to allow any air bubbles to rise to the surface. You can gently tap the container or use a heat gun to help release any trapped air. The resulting mixture should have a uniform consistency and color, indicating that it’s ready for application.

Application

Applying Ekopel 2K requires a steady hand and attention to detail. The method of application varies depending on the specific product, but most kits involve pouring the mixed material onto the prepared surface. Begin by pouring a small amount of the mixture onto the bathtub, starting at one end.

Use a squeegee or a roller to spread the material evenly across the surface, ensuring that there are no gaps or thin spots. Work in sections, gradually moving towards the other end of the bathtub. For corners and edges, use a brush or a small roller to ensure complete coverage.

Avoid over-applying the material, as this can lead to uneven drying and a less durable finish. If you notice any air bubbles or imperfections, use a heat gun or a hairdryer to gently remove them. Once the application is complete, allow the coating to cure according to the manufacturer’s instructions.

Curing Time

The curing time for Ekopel 2K is crucial for achieving a durable and long-lasting finish. This process involves the chemical reaction that hardens the coating, making it water-resistant and resistant to stains and scratches. The exact curing time can vary depending on the specific Ekopel 2K product and environmental factors such as temperature and humidity.

Generally, the curing time for Ekopel 2K is around 48 hours at a temperature of 23°C or above. However, it can take up to 72 hours at temperatures between 20°C and 22°C. During this time, it is essential to avoid using the bathtub or exposing it to water, as this can disrupt the curing process and compromise the integrity of the finish.

While the coating may feel dry to the touch within a few hours, it is important to allow the full curing time before using the bathtub for bathing or showering. This ensures that the coating has fully hardened and is ready to withstand the rigors of daily use.

Maintenance

Proper maintenance of your Ekopel 2K refinished bathtub is key to extending its lifespan and preserving its beautiful finish. While Ekopel 2K is incredibly durable and resistant to stains, scratches, and mildew, it still requires some care to maintain its pristine appearance.

Avoid using harsh abrasive cleaners, bleach-based products, or scouring powders, as these can damage the coating. Instead, opt for mild, pH-neutral cleaners specifically designed for bathtub surfaces. Regularly clean your bathtub with a gentle cleaner and a soft sponge or cloth, wiping away any dirt, soap scum, or water spots.

To maintain the shine of your Ekopel 2K finish, consider using a non-abrasive polish specifically formulated for bathtub surfaces. This will help to protect the coating from scratches and enhance its glossy appearance. Following these simple maintenance tips will ensure that your Ekopel 2K refinished bathtub continues to look its best for years to come.

Troubleshooting

While Ekopel 2K is designed for ease of use and reliable results, occasional challenges might arise during the application process. Here’s a guide to common issues and their solutions⁚

If you encounter air bubbles forming in the coating, gently tap the surface with a soft brush or roller to release them. If the coating becomes too thick or uneven, you can smooth it out with a putty knife or a scraper.

In the event of drips or runs, don’t worry! You can smooth them out with a damp sponge or cloth. Should the coating become too thin in certain areas, you can apply an additional layer after the first coat has dried; Remember to follow the manufacturer’s instructions for proper drying and curing times.

If you have any concerns or questions, consult the Ekopel 2K website or contact their customer support for assistance.

FAQs

Here are answers to some frequently asked questions about Ekopel 2K⁚

• What is the life expectancy of Ekopel 2K? Ekopel 2K is a durable coating that can last up to 15 years with proper care and maintenance. Avoid using abrasive cleaners and bleach, and opt for gentle cleaning agents like Scrubbing Bubbles or Bleach-free Tilex.
• Can Ekopel 2K be tinted? Yes, you can add color to your Ekopel 2K coating to create a personalized look. Use the Ekopel colors and follow the color map instructions. You can also purchase pre-mixed colored coatings.
• Is Ekopel 2K safe for pets? Yes, Ekopel 2K is pet-friendly. However, it’s advisable to keep pets away from the refinished tub until the coating has fully cured.
• What is the drying and curing time? The drying time for Ekopel 2K is 24-36 hours. The cure time can take up to 30 days, but the cure time doesn’t affect when you can use the tub.
• Can I refinish a tile surround with Ekopel 2K? Yes, Ekopel 2K is suitable for both bathtubs and tile surrounds.

For additional FAQs and detailed information, visit the Ekopel 2K website or contact their customer support team.

Contact Information

For any questions, concerns, or technical support regarding Ekopel 2K, you can reach out to the manufacturer, Refinished Bath Solutions, through the following channels⁚

• Phone⁚ 877-882-2278
• Email⁚ While specific email addresses are not provided in the source material, you can find this information on their official website, ekopel2k.com.
• Address⁚ Refinished Bath Solutions, 35 Progress Ave, Nashua, New Hampshire, United States.

You can also find helpful resources and videos on their website, which includes comprehensive guides, installation tutorials, and product information. For further inquiries, feel free to reach out to their customer support team. They are available to assist you with any questions you may have.

Where to Buy Ekopel 2K

Acquiring Ekopel 2K is straightforward and can be done through various channels, providing flexibility for your purchase. Here are the recommended options⁚

• Official Online Shop⁚ The most direct route is through the official Ekopel 2K website, ekopel2k.com. Here, you’ll find a comprehensive selection of their products, including kits for different applications like bathtubs, sinks, and shower pans. You can browse their offerings, explore detailed product information, and complete your purchase securely.
• eBay⁚ For a broader range of options and potential deals, consider exploring eBay. Search for “Ekopel 2K” on the platform to find listings from various sellers, often offering competitive prices and shipping options. Be sure to review seller ratings and product descriptions before making a purchase.
• Local Retailers⁚ Inquire with local home improvement stores or specialty bath refinishing suppliers in your area. They may carry Ekopel 2K or have access to it through their distribution network. Check their websites or contact them directly for availability and pricing.

Before purchasing, it’s advisable to review Ekopel 2K’s official website for the latest information on authorized retailers and distributors. This ensures you are buying genuine products and have access to proper support if needed.

Refinishing your bathtub with Ekopel 2K offers a cost-effective and efficient way to revitalize your bathroom. By following these comprehensive instructions, you can achieve a professional-looking finish that will last for years to come. Remember, proper preparation, careful mixing, and a methodical application are crucial for optimal results.

Ekopel 2K’s unique formula, designed to be durable, water-resistant, and mold-resistant, makes it an ideal choice for homeowners seeking a long-lasting solution. Its ease of application allows for a DIY approach, saving you money and providing a sense of accomplishment.

With Ekopel 2K, you can transform your old, worn-out bathtub into a fresh and beautiful focal point of your bathroom. Embrace the opportunity to rejuvenate your space and enjoy the satisfaction of a successful DIY project.