Form 1023: Completing Application for Organization that Pays No Compensation
What does an organization that does not pay compensation report in Part V?
The questions in Part V are aimed at determining whether benefits provided to officers, directors and trustees are consistent with exempt status. If no compensation is paid, then the answer to Part V, Question 1a is None. If individuals are reimbursed for expenses, however, then this information must be provided. The remainder of Part V asks about various types of relationships between the organization and its governing members. Answer these questions even if no compensation is provided; we are concerned that an organization informs us about the possibility of private benefit to persons who are in a position of control.