Angie, You do not need to wait until the building is in service; as long as the restriction is satisfied (the design or construction etc.), you can release the funds (ASC 958-605-45-2).

Correction…the names/addresses on the Schedule B are redacted, but the amounts are provided in a public disclosure (private foundations, and other types of nonprofits may have different requirements–check w/ the IRS).

Michael, my understanding is:

1. on page one of the full 990, Part II (signature block), by signing the signer agrees to the perjury statement.

2. schedule B is not included in a public disclosure version of the 990, so neither donor names, addresses, or amounts are shared with the general public.

Great analogy!

@Jerry Just tagging Jerry as I’m curious about this question (and responses) as well.

Laura, Say more about the struggle to identify the programmatic costs. Is it a systems issue (ie no way to note on a timecard which hours are program vs admin), or?

And Blue Avocado has this short intro article (and probably others as well): https://blueavocado.org/finance/filing-a-form-990/

It might be helpful to have both a reserves policy in place, and an investment policy. Those can guide your decisions about when you are in a position to invest, and how to invest (and of course can be revisited and revised if/when needed).

I agree that Gregg Bossen/QuickBooks Made Easy is a great resource. https://quickbooksmadeeasy.com/ His YouTube channel is also very useful. The organization I work with also provides financial management/bookkeeping support to nonprofits (501 Commons, https://www.501commons.org/)

You might consider adding language (“fine print”) to any materials promoting the fundraising saying the funds may be used at the organization’s discretion–not necessarily for that project (for example if the fundraiser earns more than is needed). I believe this is a fairly common practice.