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294911 390560 ; Form990OMB No 15450052Return or Private Foundation C 12017r Section 4947(a)(1) Trust Treated as Private Foundation Do not enter social security numbers on this form as it may be made
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How to fill out return or private foundation

01
To fill out a return for a private foundation, follow these steps:
02
Obtain Form 990-PF, which is the Annual Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation.
03
Enter the foundation's identification number, name, and address at the top of the form.
04
Provide information about the foundation's activities during the tax year, including grants, investments, and any taxable expenditures.
05
Calculate the foundation's net investment income and make sure to properly report any unrelated business taxable income.
06
Complete the balance sheet and functional expense statement sections.
07
Attach any required schedules and supporting documents, such as a list of officers and directors, a reconciliation of net assets, and any required disclosures.
08
Sign and date the return and send it to the appropriate address as indicated in the form's instructions.
09
Keep a copy of the completed return and all supporting documents for your records.

Who needs return or private foundation?

01
Private foundations are typically established by individuals, families, or corporations for charitable purposes. These foundations exist to support public charities or to carry out charitable activities directly. Anyone who wants to establish a private foundation and engage in philanthropic activities may need to file a return for the foundation.
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A return or private foundation refers to the tax return that private foundations must file with the IRS to report their financial activities, distributions, and compliance with tax laws.
Private foundations established as charitable organizations are required to file a return, typically Form 990-PF, regardless of their income.
To fill out the return, gather financial information including income, expenses, and distributions. Complete Form 990-PF, ensuring all required schedules and attachments are included, and follow IRS instructions.
The purpose of the return is to provide transparency regarding the foundation's financial activities, ensure compliance with tax regulations, and inform the public about the foundation's charitable contributions.
Foundations must report their income, expenses, asset information, contributions to charity, and details about their governance and management.
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