Get the free Form 990-EL - Foundation Center

1E622 07×14/2004 12 09 PM Short Form Return of Organization Exempt From Income Tax 990EL Form For the 2003 calendar ear or tax ear be ginning B Check if applicable Final return Amended return Please

How to fill out form 990-el - foundation

How to fill out form 990-el - foundation?

1. Gather necessary information: Before starting to fill out form 990-el - foundation, gather all the necessary information such as the organization's financial records, income and expenses statements, and any supporting documents required.
2. Provide basic organizational details: Begin by filling out the basic information section of the form, including the foundation's name, address, and contact information. Also, indicate the type of foundation and its tax-exempt status.
3. Report revenue and expenses: In this section, you need to provide detailed information about the foundation's revenue and expenses. Include the sources of revenue, such as donations or grants, and specify any unusual financial activities or significant changes since the previous filing.
4. Describe the foundation's activities: Write a detailed description of the foundation's activities during the tax year. Explain the mission, programs, and initiatives undertaken by the foundation to fulfill its charitable purpose. It's important to be clear and comprehensive in this section.
5. Provide details about key individuals: Include information about the foundation's key individuals, such as officers, directors, trustees, and key employees. Mention their names, titles, and compensation details. Additionally, disclose any family or business relationships among these individuals.
6. Ensure compliance with tax laws: It's crucial to ensure compliance with various tax laws and regulations. For example, report any lobbying or political activities engaged in by the foundation, as well as any grants or contributions given to individuals or organizations located outside the United States.
7. Attach necessary schedules and statements: Depending on the foundation's activities and financial transactions, you may need to attach schedules and additional statements to support the information provided in form 990-el. These may include details about specific programs or grants, compensation details, or financial statements.

Who needs form 990-el - foundation?

1. Private foundations: Private foundations are required to file form 990-el with the Internal Revenue Service (IRS) on an annual basis to fulfill their reporting obligations. This includes entities set up exclusively for charitable, educational, religious, scientific, or literary purposes.
2. Organizations with significant endowments: Foundations that hold substantial assets or endowments and engage in charitable activities also need to file form 990-el. This ensures transparency and accountability in managing and distributing the foundation's resources.
3. Grant-making organizations: If a foundation primarily engages in making grants or contributions to other charitable organizations, it must file form 990-el. This serves as a means to track the foundation's distributions and ensure compliance with tax laws.

Note: It is always recommended to consult with a tax professional or seek assistance from the IRS when filling out form 990-el - foundation to ensure accurate and compliant reporting.

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What is form 990-el - foundation?

Form 990-EL is used by certain exempt organizations to report on political campaign and lobbying activities, as required by section 501(h) of the Internal Revenue Code.

Who is required to file form 990-el - foundation?

Organizations that have chosen to file under section 501(h) of the Internal Revenue Code and engage in lobbying activities must file Form 990-EL.

How to fill out form 990-el - foundation?

Form 990-EL can be filled out by providing information on political campaign and lobbying activities, expenses, and any other required details as per the instructions provided by the IRS.

What is the purpose of form 990-el - foundation?

The purpose of Form 990-EL is to report on political campaign and lobbying activities in order to ensure compliance with the regulations set forth by section 501(h) of the Internal Revenue Code.

What information must be reported on form 990-el - foundation?

Information regarding lobbying expenses, political campaign activities, and other relevant details as outlined in the instructions for Form 990-EL.