Cat. No. 11289X Form 990-PF 2018 Page 2 Balance Sheets Attached schedules and amounts in the description column should be for end-of-year amounts only. Form 990-PF Department of the Treasury Internal Revenue Service Return of Private Foundation OMB No. 1545-0052 or Section 4947 a 1 Trust Treated as Private Foundation Do not enter social security numbers on this form as it may be made public. Go to www.irs.gov/Form990PF for instructions and the latest information. For calendar year 2018 or tax...year beginning A Employer identification number Name of foundation Number and street or P. O. box number if mail is not delivered to street address Open to Public Inspection 2018 and ending Room/suite B Telephone number see instructions City or town state or province country and ZIP or foreign postal code C If exemption application is pending check here G Check all that apply D 1. Foreign organizations check here. Initial return Amended return Final return Address change Name change H Check...type of organization Section 501 c 3 exempt private foundation Other taxable private foundation J Accounting method I Fair market value of all assets at Cash Accrual end of year from Part II col* c Other specify line 16 Part I column d must be on cash basis. Operating and Administrative Expenses Revenue Part I Analysis of Revenue and Expenses The total of amounts in columns b c and d may not necessarily equal the amounts in column a see instructions. a Revenue and expenses per books. check here...and attach computation E If private foundation status was terminated under section 507 b 1 A check here. F If the foundation is in a 60-month termination under section 507 b 1 B check here b Net investment income c Adjusted net d Disbursements for charitable purposes cash basis only 5a b 6a 10a c 16a Contributions gifts grants etc* received attach schedule Check Interest on savings and temporary cash investments Dividends and interest from securities. Gross rents. Net rental income or loss Net...gain or loss from sale of assets not on line 10 Gross sales price for all assets on line 6a Capital gain net income from Part IV line 2. Net short-term capital gain. Income modifications. Gross sales less returns and allowances Less Cost of goods sold. Gross profit or loss attach schedule. Other income attach schedule. Total* Add lines 1 through 11. Compensation of officers directors trustees etc* Other employee salaries and wages. Pension plans employee benefits. Legal fees attach schedule....Accounting fees attach schedule. Other professional fees attach schedule. Interest. Taxes attach schedule see instructions. Depreciation attach schedule and depletion. Occupancy. Travel conferences and meetings. Printing and publications. Other expenses attach schedule Total operating and administrative expenses. Add lines 13 through 23. Total expenses and disbursements. Add lines 24 and 25 Subtract line 26 from line 12 a Excess of revenue over expenses and disbursements For Paperwork Reduction...Act Notice see instructions.
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Instructions and Help about IRS 990-PF
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To edit the IRS 990-PF form, you can use pdfFiller's features for seamless online form editing. First, upload the completed form to the platform. Then, utilize the editing tools to make necessary changes. Ensure that all modifications comply with IRS guidelines, particularly if filing amendments for accuracy.
How to fill out IRS 990-PF
Filling out the IRS 990-PF form involves several key steps. Start by gathering all needed financial information related to the private foundation, including income, expenses, and contributions. Follow the instructions laid out in the form carefully to complete each section accurately. It is beneficial to refer to previous filings or guidelines to ensure compliance with IRS regulations.
About IRS 990-PF 2018 previous version
What is IRS 990-PF?
IRS 990-PF is a tax form used by private foundations to report their financial activities to the Internal Revenue Service (IRS). This form is an essential tool for transparency and accountability, outlining the foundation's income, expenses, and charitable distributions during the year.
Who needs the form?
The IRS 990-PF form must be filed by all private foundations, including both domestic and foreign entities operating in the U.S. Organizations that fall into this category must complete the form regardless of whether they have taxable income. Certain non-profit entities may also need to file if they meet specific IRS definitions for private foundations.
Components of the form
The IRS 990-PF consists of several key components, including detailed sections on income, expenditures, and assets. Filers must also provide information regarding grants made to other charities, operational expenses, and any investments held by the foundation. These components ensure a holistic view of the foundation's financial activities.
What are the penalties for not issuing the form?
Failing to file the IRS 990-PF form on time can result in significant penalties. Organizations may incur fines depending on how late the form is filed and the size of the foundation. The IRS may impose a penalty of $20 per day for late filings, not exceeding a maximum penalty. It is crucial for foundations to adhere to the filing requirements to avoid these financial consequences.
Is the form accompanied by other forms?
The IRS 990-PF may need to be accompanied by additional schedules or supplementary forms, depending on the foundation's specific activities and financial transactions. Common accompanying documents include Schedule A, which provides details about public charity support, and other relevant schedules that can offer more context to the foundation's financial disclosures.
What is the purpose of this form?
The purpose of the IRS 990-PF form is to provide a comprehensive overview of a private foundation's financial standing and operations. It includes information about income, disbursements, assets, and liabilities, ensuring that foundations are adhering to federal tax laws and regulations. This form also serves to inform the public about the foundation's activities and grant-making practices.
When am I exempt from filling out this form?
Organizations may be exempt from filing IRS 990-PF if they fall under certain categories, such as being classified as a public charity rather than a private foundation or if their gross receipts are below specific thresholds set by the IRS. Additionally, some smaller private foundations may qualify for filing a simpler form, the 990-N (e-Postcard), depending on their revenue.
Due date
The IRS 990-PF form is due on the 15th day of the 5th month after the end of the foundation's fiscal year. For many foundations that operate on a calendar year basis, this means the form is due on May 15 each year. Extensions may be requested, but they must be filed prior to the original due date.
What information do you need when you file the form?
When filing the IRS 990-PF, it is necessary to have the foundation's financial statements, including balance sheets, revenue sources, and operational expenditures. Additionally, details about grants awarded, disqualified persons, and investment income are required. This information assists in accurately completing the form and ensuring compliance with IRS regulations.
Where do I send the form?
The completed IRS 990-PF form must be sent to the appropriate address designated by the IRS. Foundations filing the form can check the IRS website for the correct mailing address, which can vary depending on the state of the foundation's residence. It is important to ensure the form is sent to the right location to avoid processing delays.
FAQ about IRS 990-PF
What should I do if I realize I've made a mistake on my IRS 990-PF after filing?
If you discover an error on your IRS 990-PF after submission, you should prepare an amended return. Ensure that you indicate the form as amended and provide the correct information. It’s advisable to keep documentation of all changes and reasons for amendments.
How can I track the status of my filed IRS 990-PF?
To verify the receipt and processing status of your IRS 990-PF, you may use the IRS's online tools or contact their support. If you filed electronically, check for any e-file rejection codes and ensure you understand the steps to resolve them.
What should I consider regarding record retention for my IRS 990-PF?
When dealing with IRS 990-PF filings, it's crucial to maintain accurate records for a minimum of three years from the filing date. This retention period is essential for compliance and in case of any audits or inquiries from the IRS.
Can I file IRS 990-PF on behalf of someone else?
Yes, you can file IRS 990-PF on behalf of another entity, provided you have the necessary authorization, such as a Power of Attorney (POA). Ensure that you have all relevant information and documentation ready, as filing on behalf typically requires additional verification.
What should I do if I receive an audit notice regarding my IRS 990-PF?
If you receive an audit notice for your IRS 990-PF, promptly gather all necessary documentation related to your filing and review the areas of concern. Respond officially to the notice, providing the requested materials and a clear explanation to facilitate the audit process.
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