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Ft rm 990-P F OM B No 1545 0052 Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation Department of the Treasury Internal Revenue Service 2009

How to fill out ftrm 990-p

How to fill out Form 990-P:

1. Gather all necessary information: Before starting to fill out Form 990-P, make sure you have all the required information at hand. This includes details about your organization's financial activities, revenues, expenses, governance structure, and any major transactions or activities.
2. Begin with the identification section: Start by entering the name and address of your organization, along with its Employer Identification Number (EIN). Ensure that all the information provided is accurate and up to date.
3. Complete Part I - Revenue, expenses, and changes in net assets or fund balances: In this section, provide a breakdown of your organization's revenues and expenses for the year. Include details such as program service revenues, contributions, grants, investment income, salaries, rent, and other expenses. Calculate the net assets or fund balances at the beginning and end of the year.
4. Proceed to Part II - Balance sheets: Here, you will report the assets, liabilities, and net assets/fund balances of your organization. Include details about cash, investments, accounts receivable, accounts payable, and any other relevant items. Ensure that the balances match your organization's financial records.
5. Fill out Part III - Statement of program service accomplishments: This section requires you to describe the programs or activities carried out during the year and their accomplishments. Include information about the beneficiaries served, outcomes achieved, and any measurable results or impact. Be specific and provide concise explanations.
6. Complete Part IV - Checklist of required schedules: Ensure that you have completed the checklist accurately by checking all the applicable boxes. This section confirms whether you have attached the required schedules or additional information.
7. Prepare the necessary schedules: Depending on the specific circumstances of your organization, you might need to complete additional schedules. These can include details about compensation, fundraising activities, foreign activities, or other relevant information. Each schedule has specific instructions that need to be followed.
8. Provide required signatures: Make sure to sign and date the completed Form 990-P. If your organization has a governing board or officers, they may also need to provide their signatures. Verify that all signatures are in the appropriate places and that they are authorized to act on behalf of the organization.

Who needs Form 990-P:

1. Nonprofit organizations: Form 990-P is typically required for nonprofit organizations that have a gross income of $50,000 or less in a tax year. These organizations may be exempt from federal income taxes, but they still need to file this form to maintain their tax-exempt status.
2. Private foundations: Private foundations, regardless of their size, are required to file Form 990-P annually, regardless of their income levels. This form provides the IRS with detailed information about the foundation's finances and activities.
3. Small tax-exempt organizations: In general, small tax-exempt organizations with limited financial activities and a gross income of $50,000 or less utilize Form 990-P. However, there may be exceptions or special circumstances, so it is essential to consult the IRS instructions or seek professional advice to determine the specific filing requirements for your organization.

For pdfFiller’s FAQs

What is ftrm 990-p?

Form 990-P is the Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation.

Who is required to file ftrm 990-p?

Private foundations and nonexempt charitable trusts treated as private foundations are required to file Form 990-P.

How to fill out ftrm 990-p?

Form 990-P should be filled out with detailed information about the private foundation's finances, activities, and governance. It is important to follow the instructions provided by the IRS.

What is the purpose of ftrm 990-p?

The purpose of Form 990-P is to provide the IRS with information about the private foundation's financial activities, compliance with tax regulations, and governance structure.

What information must be reported on ftrm 990-p?

Form 990-P requires information about the private foundation's income, expenses, grants, investments, activities, and key employees or officers.

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