An NPO must file form TP-997.1-V, Information Return for Tax-Exempt Entities, if one of the following situations applies:

• its income from taxable dividends, rentals, interest or royalties exceeds $10,000 for the fiscal period in question;
• its total assets exceeded $200,000 for the previous fiscal period;
• the entity was required to file form TP-997.1-V for a previous fiscal period.