You can find the complete Glossary for the new Form 990 on page 41 on the following Instructions: http://www.irs.gov/pub/irs-pdf/i990.pdf
INDEPENDENT VOTING MEMBER OF GOVERNING BODY
A voting member of the governing body, if all three of the following
body circumstances applied at all times during the organization’s tax year:
1. The member was not compensated as an officer or other employee of the
organization or of a related organization (see the instructions for Schedule R,
Related Organizations and Unrelated Partnerships), except as provided in the
religious exception discussed in the instructions for Form 990, Part VI.
2. The member did not receive total compensation or other payments
exceeding $10,000 during the organization’s tax year from the organization or
from related organizations as an independent contractor, other than
reimbursement of expenses under an accountable plan or reasonable
compensation for services provided in the capacity as a member of the
governing body. For example, a person who receives reasonable expense
reimbursements and reasonable compensation as a director of the organization
does not cease to be independent merely because he or she also received
payments of $7,500 from the organization for other arrangements.
3. Neither the member, nor any family member of the member, was involved
in a transaction with the organization (whether directly or indirectly through
affiliation with another organization) required to be reported on Schedule L,
Transactions With Interested Persons, for the organization’s tax year, or in a
transaction with a related organization of a type and amount that would be
reportable on Schedule L if required to be filed by the related organization.
A member of the governing body is not considered to lack independence merely
because of the following circumstances:
1. The member is a donor to the organization, regardless of the amount of the
2. The member has taken a bona fide vow of poverty and either:
a. Receives compensation as an agent of a religious order or a section
501(d) religious or apostolic organization, but only under circumstances in which
the member does not receive taxable income (for example, Rev. Rul. 77-290,
1977-2 C.B. 26; Rev. Rul. 80-332); or
b. Belongs to a religious order that receives sponsorship or payments from the
organization that do not constitute taxable income to the member.
3. The member receives financial benefits from the organization solely in the
capacity of being a member of the charitable or other class served by the
organization in the exercise of its exempt function, such as being a member of a
section 501(c)(6) organization, so long as the financial benefits comply with the
organization’s terms of membership.
For purposes of Form 990 reporting, an employee of the organization (other than
an officer, director, or trustee) who meets all three of the following tests:
1. $150,000 Test. Receives reportable compensation from the organization
and all related organizations in excess of $150,000 for the calendar year ending
with or within the organization’s tax year.
2. Responsibility Test. The employee:
a. has responsibilities, powers or influence over the organization as a whole
similar to those of officers, directors, or trustees;
b. manages a discrete segment or activity of the organization that represents 10%
or more of the activities, assets, income, or expenses of the organization, as
compared to the organization as a whole;
c. or has or shares authority to control or determine 10% or more of the
organization’s capital expenditures, operating budget, or compensation for
3. Top 20 Test. Is one of the 20 employees (that satisfy the $150,000 Test and
Responsibility Test) with the highest reportable compensation from the
organization and related organizations for the calendar year ending with or
within the organization’s tax year.
Contributions of property, tangible or intangible, other than money.
Noncash contributions include, but are not limited to, stocks, bonds, and other securities;
real estate; works of art; stamps, coins, and other collectibles; clothing and
household goods; vehicles, boats, and airplanes; inventories of food, medical
equipment or supplies, books, or seeds; intellectual property, including patents,
trademarks, copyrights, and trade secrets; donated items that are sold
immediately after donation, such as publicly traded stock or used cars; and items
donated for sale at a charity auction. Noncash contributions do not include
volunteer services performed for the reporting organization or use of facilities.
The value that would ordinarily be paid for like services by like enterprises under
TOP MANAGEMENT OFFICIAL
A person who has ultimate responsibility for implementing the decisions of the
organization’s governing body or for supervising the management,
administration, or operation of the organization (for example, the organization’s
CEO or executive director).
WORKS OF ART
Includes paintings, sculptures, prints, drawings, ceramics, antiques, decorative
arts, textiles, carpets, silver, photography, film, video, installation and multimedia
arts, rare books and manuscripts, historical memorabilia, and other similar
objects. Art does not include collectibles.