Sample Questions - Financial Information and User Fees

Applications for exemption and miscellaneous determination requests are assigned to Exempt Organizations specialists for review. If additional information is necessary to make a determination, a specialist will contact the organization for the information. Here’s a list of questions that might be asked on this topic.


Itemized Revenue Information Needed

Please provide a breakdown of your expected revenue for tax year(s) [Insert years]. Include both the type and amount of the revenue. Be as specific as possible.

Itemized Expense Information Needed

1. Please provide a breakdown of your expected expenses for tax year(s) [Insert years]. Include both the type and amount of the expense. Be as specific as possible.

Statement of Revenues and Expenses Lists UBI (Line 4 of Application Statement of Revenue and Expenses)

2. You reported income from unrelated business income on your Statement of Revenues and Expenses. Please describe the source(s) of this income.

Statement of Revenues and Expenses Lists Interest Expense (Line 19-1023 Line 15-1024)

3. You reported an interest expense on your Statement of Revenues and Expenses. Please describe the source(s) of this expense.  

[Instruction: Include the following if not asked in a separate question.]

[If the interest is related to a mortgage or note payable, then identify all mortgages and notes payable, and for each:

a. If the mortgage/note is with an unrelated, established bank, provide a copy of the loan term and rate.

b. If the mortgage/note is not with an unrelated, established bank, provide a copy of the mortgage/note; clearly indicate the terms and interest rates; explain how loan terms were determined or negotiated; and provide documentation, if available, of average loan rates at the time of the loan.]

Balance Sheet Lists “Bonds and Notes Receivable” (Line 4 of Application Balance Sheet)

4. You reported “bonds and notes receivable” on your balance sheet. Please submit an itemized list of these assets.

Balance Sheet Lists “Mortgage/Notes Payable” (Line 14 of Application Balance Sheet)

5. You reported “mortgages and notes payable” on your balance sheet. Please identify all mortgages and notes payable and for each mortgage or note payable:

a. If the mortgage/note is with an unrelated, established bank, provide a copy of the loan term and rate.

b. If the mortgage/note is not with an unrelated, established bank, provide a copy the mortgage/note; clearly indicate the terms and interest rate; explain how loan terms were determined or negotiated; and provide documentation, if available, of average loan rates at the time of the loan.

Balance Sheet Lists “Other Liabilities” (Line 15 of Application Balance Sheet)

6. You reported “other liabilities” on you balance sheet. Please submit an itemized list of these liabilities.

Additional information

See the complete list of Applying for Exemption/Miscellaneous Determination Sample Questions by topic.