Get the free Form' 990-PF I Return of Private Foundation - Foundation Center

Form' Return of Private Foundation 990-PF I or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation Department of the Treasury For calendar year 2009, or tax year beginning

How to fill out form39 990-pf i return

How to fill out form 990-PF:

1. Begin by gathering all the necessary information and documents required to complete the form. This may include financial statements, foundation details, and any additional supporting documentation.
2. Read the instructions provided by the IRS for form 990-PF carefully to understand the specific requirements and sections of the form.
3. Start by entering the foundation's name, address, and EIN (Employer Identification Number) at the top of the form.
4. Proceed to fill out Part I, which includes general information about the foundation, such as its mission, activities, and governing board.
5. In Part II, provide details about the foundation's finances, including revenue, expenses, and assets. This section may require additional schedules and attachments for more in-depth reporting.
6. Part III focuses on the foundation's activities and grants. Report the grants made, descriptions of the charitable activities undertaken, and any other relevant information.
7. Complete Part IV, which requires details about persons responsible for the foundation's operations, such as officers, trustees, and key employees.
8. Review the entire form to ensure accuracy and completeness. Double-check all calculations and cross-reference with the provided instructions.
9. Sign and date the form before submitting it to the IRS. Retain a copy for your records.

Who needs form 990-PF:

1. Form 990-PF is specifically designed for private foundations in the United States. Therefore, any private foundation that meets certain asset thresholds must file this form annually with the IRS.
2. Private foundations include non-profit organizations with a primary purpose of making grants or providing funds to support charitable causes.
3. According to IRS regulations, a private foundation is generally required to file form 990-PF if its assets exceed $5,000 at any point during the tax year.
4. Additionally, private foundations with gross income over $200,000 and total assets exceeding $500,000 are also required to file form 990-PF.
5. It is essential for private foundations to comply with the filing requirements to maintain their tax-exempt status and meet transparency and accountability standards set by the IRS.
6. Failure to file form 990-PF or providing false or incomplete information can result in penalties and potential loss of tax-exempt status for the foundation.

Remember to consult a tax professional or seek guidance from the IRS to ensure accurate completion and adherence to any updates or changes in the filing requirements for form 990-PF.

For pdfFiller’s FAQs

What is form 990-PF?

Form 990-PF is the return filed by a private foundation in order to provide the IRS with information on its financial activities and compliance with tax laws.

Who is required to file form 990-PF?

Private foundations, including exempt operating foundations, are required to file Form 990-PF.

How to fill out form 990-PF?

Form 990-PF is filled out by providing information on the foundation's financial activities, including income, expenses, assets, and grants. Detailed instructions and guidance can be found on the IRS website.

What is the purpose of form 990-PF?

The purpose of Form 990-PF is to ensure transparency and accountability of private foundations by providing the IRS and the public with information on their operations, finances, and compliance with tax laws.

What information must be reported on form 990-PF?

Form 990-PF requires reporting of the foundation's income, expenses, assets, grants, investments, transactions with disqualified persons, and other details of its financial activities. Specific requirements are outlined in the form's instructions.

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