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This document is a tax return for a private foundation, detailing financial information, revenue, expenses, and distribution details for the tax year 2008.

How to fill out 990-pf

How to fill out 990-PF

1. Gather necessary financial documents, including records of income, expenses, and grants.
2. Obtain a copy of Form 990-PF from the IRS website.
3. Fill out the organization's identifying information at the top of the form, including its name, address, and Employer Identification Number (EIN).
4. Complete Part I by reporting the organization's revenue, including contributions and investment income.
5. In Part II, provide details of the foundation's expenses, including grants made, administration costs, and other necessary expenditures.
6. Complete Part III, which requires the foundation to list any distributions made to charitable organizations.
7. In Part IV, ensure you fill in details regarding the foundation's assets, including cash, investments, and property.
8. Complete Schedule B if the foundation received contributions of $5,000 or more from any single contributor.
9. Review the completed form for accuracy, ensuring that all sections are completed and calculations are correct.
10. File the 990-PF by the due date, which is typically the 15th day of the 5th month after the end of the foundation's tax year.

Who needs 990-PF?

1. Private foundations with gross receipts of $100,000 or more must file Form 990-PF annually with the IRS.
2. Any private foundation that makes charitable contributions or grants must complete this form to report its financial activities.
3. Organizations operating as private foundations and seeking tax-exempt status are also required to submit this form.

People Also Ask about

What is the minimum investment return on a 990-PF?

The minimum investment return is generally five percent of the total fair market value of the foundation's non-charitable use assets.

What is a Form 990-PF?

Form 990-PF is used to figure the tax based on investment income, and to report charitable distributions and activities.

How do I pay tax due with 990-PF?

IRS e-Services Makes Taxes Easier You can e-file your Form 990-PF, Form 940 and 941 employment tax returns, and Forms 1099 and other information returns. You can pay taxes online or by phone using the free Electronic Federal Tax Payment System (EFTPS).

How much does it cost to file a 990-PF?

Tax Professionals Pricing Forms1-10 Returns11+ Returns Form 990-EZ (Price Per Form) $89.90 $69.90 Form 990-PF (Price Per Form) $149.90 $119.90 Form 990 (Price Per Form) $179.90 $139.90 Form 990-T (Price Per Form) $139.90 $109.905 more rows

What is the threshold for 990-PF?

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 minimum Revenue to file a 990?

Form 990, Return of Organization Exempt From Income Tax An organization must file Form 990, if it is: An organization with either: ► gross receipts of $200,000 or more, or ► total assets of $500,000 or more. A sponsoring organization of one or more donor-advised funds.

What is the minimum investment return for a private foundation?

A Guide to Private Non-Operating Foundations Private non-operating foundations are required by IRS regulations to make a minimum distribution each year for charitable purposes: roughly 5% of its assets, with certain adjustments, based on the previous year's assets.

What is the minimum investment return on a 990-PF form?

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.

For pdfFiller’s FAQs

What is 990-PF?

Form 990-PF is an annual reporting return that tax-exempt private foundations must file with the IRS. It provides information about the foundation's financial activities, assets, and grants.

Who is required to file 990-PF?

Private foundations, including both domestic and foreign foundations that are exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code, are required to file Form 990-PF.

How to fill out 990-PF?

To fill out Form 990-PF, organizations must gather financial statements, details about grants made, investment income, and information on the foundation's directors and trustees. The form is completed with specific sections outlining income, expenses, assets, and distribution requirements.

What is the purpose of 990-PF?

The purpose of Form 990-PF is to provide transparency regarding the activities and financial status of private foundations, ensuring compliance with IRS regulations and informing the public about the foundation's charitable contributions and expenditures.

What information must be reported on 990-PF?

Form 990-PF requires reporting of the foundation's revenue, expenses, assets, liabilities, grantmaking activities, compensation of officers and directors, and any changes in the foundation's structure or operations throughout the year.