Client has a small public charity. We file the 990-EZ. Gross receipts $70K, fixed assets approximately $36K.
This year they started an investment account at a brokerage co. At 12/31/21, the account had grown slightly. I'm confused on how to present it on the balance sheet of the 990-EZ. The instructions for Part II, Line 22 (page 17) say to report the "book value of securities held as investments", which seems clear but the instructions for line 20 (page 16) say to put there any "unrealized gains or losses on investments carried at market value". If I do that, my balance sheet won't balance.
So which is it? Book value or market value. I think it makes more sense to report it on market value personally since that seems like a true reflection of what they had at year-end.
I also searched 990-EZs filed online and I see "unrealized gains and losses" reporting on line 20 on lots of 990-EZs.
Any help is greatly appreciated.