[Susan]

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).

[Susan]

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).

[Susan]

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.

[Susan]

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

[Susan]

Great analogy!