Get the free Return of Private Foundation Fore, 990-PF

This document serves as a return filing for private foundations, detailing financial activities, governance, and compliance for the tax year 2011.

How to fill out return of private foundation

How to fill out Return of Private Foundation Fore, 990-PF

1. Gather required information: Collect financial records, including income, expenses, assets, and liabilities of the foundation.
2. Complete basic identification: Fill in the foundation's name, address, EIN (Employer Identification Number), and the tax year for which the return is filed.
3. Report financial data: Enter revenue information, including contributions and grants received, as well as the foundation's expenses during the year.
4. Detail investment activities: Provide information regarding investments held by the foundation and any capital gains or losses realized.
5. Complete Part I: Fill out the summary section detailing grantmaking activity and other pertinent financial information.
6. Complete Part II: Provide a detailed list of distributions, including grants made to charitable organizations.
7. Fill out Part III: Answer questions regarding the foundation's compliance with applicable laws and regulations.
8. Check other sections: Review additional parts of the form that pertain to specific activities of the foundation.
9. Review and sign: Ensure all sections are accurately completed, then sign and date the return.
10. Submit the return: Send the completed Form 990-PF to the appropriate IRS address based on your state.

Who needs Return of Private Foundation Fore, 990-PF?

1. Private foundations that are exempt from federal income tax under section 501(c)(3) must file Form 990-PF annually.
2. Foundations that are required to report their financial activities, grant distributions, and compliance with tax regulations.
3. Any organization that has assets exceeding $500,000 or has a significant amount of grants or payments to charitable organizations.

People Also Ask about

What is the 990-PF return of a private foundation?

The Form 990-PF, entitled "Return of Private Foundation" is a report that must be filed each year with the Internal Revenue Service (IRS) by organizations exempt from Federal income taxes under section 501 of the Internal Revenue Code, and whose annual receipts are normally more than $25,000 a year.

What is the return of a private foundation?

Tax-exempt organizations must file a tax return called a Form 990 with the IRS each year to comply with federal regulations. There are several versions of Form 990: public charities file a Form 990, 990-EZ, or 990-N; private foundations file Form 990-PF (PF stands for Private Foundation).

What is the minimum investment return for a private foundation?

The minimum investment return for any private foundation is 5 percent of the excess of the combined fair market value of all assets of the foundation, other than those used or held for use for exempt purposes, over the amount of indebtedness incurred to buy these assets.

What is the 5 rule for private foundations?

The basic rule can be stated simply, but its calculation is complex: Each year every private foundation must make eligible charitable expenditures that equal or exceed approximately 5 percent of the value of its endowment.

What is calculated on Form 990-pf?

Form 990-PF is used to calculate the amount of excise tax that has to be paid by a private foundation. The form is also used to calculate the minimum investment return, which is 5% of the excess of the combined fair market value of all the foundation assets other than those used or withheld for exempt purposes.

For pdfFiller’s FAQs

What is Return of Private Foundation Fore, 990-PF?

Return of Private Foundation Form 990-PF is an annual information return that private foundations in the United States must file with the Internal Revenue Service (IRS). It provides detailed financial information about the foundation's income, expenses, and distributions to ensure compliance with tax regulations.

Who is required to file Return of Private Foundation Fore, 990-PF?

Private foundations exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code are required to file Form 990-PF each year, regardless of their income level.

How to fill out Return of Private Foundation Fore, 990-PF?

To fill out Form 990-PF, the foundation must provide details such as its name, address, and employer identification number (EIN), along with financial information including revenues, expenses, investment income, and charitable distributions. The form must be signed by an authorized official and submitted to the IRS by the due date.

What is the purpose of Return of Private Foundation Fore, 990-PF?

The purpose of Form 990-PF is to provide the IRS and the public with information about a private foundation's financial activities, compliance with tax laws, and charitable spending, ensuring transparency and accountability.

What information must be reported on Return of Private Foundation Fore, 990-PF?

Form 990-PF must report the foundation's revenue, expenses, assets, liabilities, grants made to charities, and compensation paid to officers and directors. It must also include a balance sheet and a statement of revenue and expenses.