Get the free 990-PF Form OMB No 1545-0052 Return of Private Foundation

990-PF Form OMB No 1545-0052 Return of Private Foundation .or Section 4947(AXL) Nonexempt Charitable Trust Treated as a Private Foundation 2010 Department of the Treasury Internal Revenue Serve ice

How to fill out 990-pf form omb no

How to Fill Out 990-PF Form OMB No:

1. Gather the necessary information: Before starting to fill out the 990-PF form, make sure you have all the relevant information at hand. This includes details about your private foundation, its activities, financial transactions, and any grants made during the tax year.
2. Review the instructions: The 990-PF form comes with detailed instructions provided by the Internal Revenue Service (IRS). Carefully read through these instructions to understand the requirements and guidelines for completing the form accurately.
3. Provide identifying information: Start by entering basic information about your private foundation, such as its name, address, Employer Identification Number (EIN), and the tax year for which you are filing the form.
4. Complete Part I - Summary: This section requires a summary of your foundation's activities and financial information. Provide details about your organization's mission, grantmaking strategies, and the number of employees and volunteers involved.
5. Fill out Part II - Balance Sheets: In this section, you need to report the financial assets, liabilities, and net assets of your foundation. These include cash, investments, accounts receivable, grants payable, and other applicable items. Be sure to accurately categorize these items as per the instructions.
6. Complete Part III - Statement of Activities: Here, you need to report the income and expenses of your foundation. List all sources of income, such as contributions, investment income, and other revenue. Similarly, provide details about your foundation's expenses, including grants paid, administrative costs, and any other expenses.
7. Fill out Part IV - List of Officers, Directors, and Trustees: This section requires you to list the names, positions, and compensation of individuals serving as officers, directors, and trustees of your foundation. Ensure that you provide accurate and up-to-date information.
8. Complete Part V - Statements Regarding Activities: In this section, you need to answer questions related to your foundation's activities, compliance with regulations, and any significant changes that have occurred. Provide clear and concise responses based on your foundation's specific circumstances.
9. Attach necessary schedules and attachments: Depending on your foundation's activities and financial transactions, you may need to attach additional schedules or attachments to the 990-PF form. These could include details about specific grants, investments, or other relevant information. Follow the instructions to properly include these attachments.

Who Needs 990-PF Form OMB No:

Private foundations in the United States are required to file Form 990-PF with the Internal Revenue Service (IRS) annually. This form is specifically designed for private foundations to report their financial activities, grants, and other relevant information. The IRS uses the information provided on this form to ensure compliance with tax regulations and to monitor the activities of private foundations. Therefore, any private foundation that meets the IRS criteria is required to fill out and submit the 990-PF form, which includes private foundations organized in the United States and even certain foreign foundations. It is important to consult the IRS guidelines and regulations to determine if your organization qualifies as a private foundation and if you are required to file the 990-PF form.

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