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OMB No 1545-0047 Return of Organization Exempt From Income Tax Form 990 2012 Under section 501 (c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

How to fill out form 990 - foundation

How to fill out form 990 - foundation:

1. Gather all necessary information and documents such as financial statements, details of revenue and expenses, and information about the foundation's activities.
2. Complete the header section of the form with basic details such as the foundation's name, address, and EIN (Employer Identification Number).
3. Specify the type of foundation, whether it is a private foundation or a public charity. Provide information about the foundation's exempt status and any changes that have occurred during the tax year.
4. Report the foundation's revenue and expenses. This includes detailing contributions received, grants made, investment income, and any unrelated business income. Ensure accuracy by attaching supporting documentation, such as bank statements and receipts.
5. Provide information about the foundation's activities and programs, including descriptions, beneficiaries, and geographic areas served. Report any changes or significant events that have occurred since the previous filing.
6. Complete the governance section, which includes information about the foundation's officers, directors, and key employees. Disclose any conflicts of interest or excess benefit transactions.
7. Assure compliance with tax laws by answering questions regarding potential tax liabilities, political activities, and lobbying.
8. Sign and date the form, certifying that all information provided is true, accurate, and complete to the best of your knowledge.

Who needs form 990 - foundation?

1. Private foundations: Private foundations are required to file Form 990-PF annually to provide transparency about their financial activities and ensure compliance with tax laws.
2. Public charities: Certain public charities that meet specific criteria, such as having gross receipts above a certain threshold or significant assets, are also required to file Form 990, Form 990-EZ, or Form 990-N (e-postcard) depending on their size and circumstances.
3. Donors and stakeholders: Form 990 provides valuable information to potential donors, stakeholders, and the general public. It helps them assess a foundation's financial health, program effectiveness, and overall transparency, aiding in informed decision making and building trust.

Note: It's important to consult with a tax professional or refer to the official instructions provided by the Internal Revenue Service (IRS) when filling out Form 990 - foundation, as the requirements may vary based on the specific circumstances of the foundation.

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What is form 990 - foundation?

Form 990 is an annual reporting return that certain federally tax-exempt organizations must file with the IRS.

Who is required to file form 990 - foundation?

Organizations that are classified as private foundations are required to file form 990.

How to fill out form 990 - foundation?

Form 990 should be filled out by providing information about the organization's finances, activities, and governance.

What is the purpose of form 990 - foundation?

The purpose of form 990 is to provide the IRS and the public with information about the organization's mission, programs, and finances.

What information must be reported on form 990 - foundation?

Information to be reported on form 990 includes financial data, details about the organization's programs, and governance policies.