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A Return of Private Foundation FFM 990-PF OMB No 1545-0052 or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation Department of the Treasury Internal Revenue Service Note.

How to fill out fm 990-pf

How to fill out fm 990-pf:

1. Gather all necessary information: Before starting, make sure you have all the relevant financial information and documents in hand. This includes details about the foundation's income, expenses, assets, and any grants or contributions made during the tax year.
2. Download the form: Visit the IRS website or use a tax software program to download the fm 990-pf form. Ensure that you have the most recent version of the form to accurately report your financial information.
3. Fill in the identification section: Start by providing the foundation's name, address, and EIN (Employer Identification Number). Also, indicate the tax year for which you are filing the form.
4. Complete Part I – Summary: This section requires you to provide a summary of the foundation's financial activities for the tax year. You need to report the total assets, total income, and total grants or contributions made during the year. Follow the instructions provided in the form to accurately complete this section.
5. Proceed with Part II – Balance Sheets: In this section, you will report the foundation's assets, liabilities, and net assets at the beginning and end of the tax year. Ensure you provide detailed information about each asset and liability category as requested in the form.
6. Fill out Part III – Statement of Income: Here, you must report the foundation's income and expenses for the tax year. Include details about investment income, contributions received, and any expenditures made by the foundation. Make sure to separate the expenses into various categories as mentioned in the form.
7. Complete Part IV – Grants and Assistance: In this section, list all the grants and assistance provided by the foundation during the tax year. Include details about the recipient organizations, purpose of the grants, and amounts given.
8. Proceed with Part V – Qualification Procedures and Nondiscrimination Policies: If applicable to your foundation, this section requires you to provide information about any qualification procedures or policies implemented to ensure nondiscriminatory practices.
9. Fill in Part VI – Supporting Organizations: Only applicable if your foundation is classified as a supporting organization, this section requires specific information regarding the support provided to the supported organizations.
10. Take care of Part VII – Compensation of Officers, Directors, Trustees, etc.: If compensation was paid to officers, directors, trustees, or key employees, this section requires you to report the details, including their names, positions, compensation amounts, and any other relevant information.
11. Provide additional required information: The fm 990-pf form may require you to provide additional information depending on your foundation's activities or certain transactions that took place during the tax year. Make sure to carefully read the form's instructions to ensure you don't miss any required sections or schedules.

Who needs fm 990-pf?

1. Private foundations: The fm 990-pf is specifically designed for private foundations to report their financial activities and ensure compliance with tax regulations.
2. Organizations with significant endowments: If your organization holds a significant endowment and meets the criteria for being classified as a private foundation, you will likely need to fill out fm 990-pf.
3. Nonprofit organizations providing grants and contributions: If your nonprofit organization provides grants or contributions to other organizations, it may be subject to the rules governing private foundations. In such cases, you will likely need to file fm 990-pf.
4. Organizations seeking tax-exempt status: If you are in the process of seeking tax-exempt status for your organization and are classified as a private foundation, you may need to file fm 990-pf to report your financial activities.

Note: It is always recommended to consult with a tax professional or CPA specializing in nonprofit tax compliance to ensure accurate and timely completion of fm 990-pf.

For pdfFiller’s FAQs

What is fm 990-pf?

Form 990-PF is the return that private foundations file with the IRS to report their charitable activities and financial information.

Who is required to file fm 990-pf?

Private foundations are required to file Form 990-PF with the IRS.

How to fill out fm 990-pf?

Form 990-PF must be filled out with detailed information about the foundation's financial activities, charitable contributions, and other relevant information.

What is the purpose of fm 990-pf?

The purpose of Form 990-PF is to provide the IRS and the public with information about a private foundation's finances and charitable activities.

What information must be reported on fm 990-pf?

Form 990-PF requires information on the foundation's income, expenses, grants, investments, and other financial details.

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