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Temecula California online Form 990 - Schedule A: What You Should Know

Note: We do not publish total net assets at beginning of year figures since such figures are calculated from end-of-year figures. This section is provided as help for applicants for nonprofit status. 9 Dec 2025 – 2. Number of members of Board of Trustees. (1) In general Section 501(c)(7) organizations must have a full Board of Trustees. A full Board of Trustees is required in  Section 501(c)(7) organizations as follows: A) In general (i) A tax-exempt charity must keep a complete and accurate record of its annual income, expenses, assets, liabilities, assets of each member, and total assets; and (ii) The members of the Board of Trustees must own at least 50% of the charity's assets at all times during the tax-exempt organization's tax year. (2) The Board, by rule at § 501(c) (7) If your organization is approved for tax-exempt status by IRS, see the section: 9 Dec 2025 – 3. Amount of operating budget. (a) If your organization had 250,000 or less in total revenue for each of these 4 calendar quarters (January-March, May-June, September-October, and December – January), the formula for determining the amount of operating budget is: In general, you have up to 25% more operating budget than reported for 2025 on the organization's 2025 Form 990. If a tax exemption was issued (see 5-a), use the higher amount (up to 350,000) if applicable. Nonprofit Explorer will not accept the lower figures when calculating the operating budget.

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