Exempt Organizations Annual Reporting Requirements - Form 990, Part VI and Schedule L: Reporting Joint Venture Activities

How should our organization report on Form 990 activities and finances of the joint ventures in which we are involved?

If  an organization that files Form 990  participates as a partner or member of a joint venture--that is, a partnership, limited liability company or any entity treated as a partnership for federal tax purposes—then it should report the activities and finances of the joint venture as its own, to the extent of the organization’s proportionate interest in the joint venture.  For more information on reporting joint venture activity on the Form 990, see Appendix F (Form 990 instructions), Disregarded Entities and Joint Ventures—Inclusion of Activities and Items.