Get the free 990-PF - The Christensen Fund - christensenfund

Form 990-PF Return of Private Foundation OMB No. 1545-0052 Department of the Treasury Internal Revenue Service For calendar year 2013 or tax year beginning A Employer identification number THE CHRISTENSEN

How to fill out 990-pf - form christensen

How to Fill Out 990-PF - Form Christensen?

1. Gather all necessary information: Before starting to fill out the 990-PF form Christensen, gather all relevant financial documents, including income, expenses, investments, and charitable activities related to the foundation. Make sure to have accurate and up-to-date records.
2. Review the instructions: Familiarize yourself with the instructions provided by the IRS for completing the 990-PF form. The instructions will provide guidance on each section of the form and any required attachments or additional schedules.
3. Provide basic information: Start by entering the foundation's name, address, and employer identification number (EIN) at the top of the form. Ensure that all contact information is accurate and up-to-date.
4. Complete Part I: In this section, provide details about the foundation's mission statement, activities, and any changes made during the tax year. Describe the organization's exempt purpose and explain how it was achieved throughout the year.
5. Report financial information: Moving on to Part II, provide a comprehensive statement of revenue, expenses, and net assets for the tax year. Include details about contributions received, grants given, investments, and any other relevant financial transactions.
6. Provide details on grant recipients: In Part III, report information about the foundation's grant recipients. Include their names, addresses, and the amount of the grant given. Ensure accuracy when reporting the grants, as this information may be verified by the IRS.
7. Complete Part IV: This section requires information about the foundation's operations, including details about any disqualified persons, excess benefit transactions, and business transactions involving those individuals. Provide accurate records and disclose all necessary information.
8. Fill out Schedule A: Schedule A provides a breakdown of the foundation's charitable activities and grantmaking. Report the organization's grants and contributions, ensuring the accuracy of the information provided. If the foundation gives grants to other organizations, provide detailed information about each recipient.
9. Attach additional schedules if necessary: Depending on the complexity of the foundation's finances or activities, additional schedules may be required. Common schedules include Schedule B (Contributions), Schedule C (Political Campaign and Lobbying Activities), and Schedule D (Supplemental Financial Statements).

Who Needs 990-PF - Form Christensen?

1. Private foundations in the United States: The 990-PF form is specifically designed for private foundations operating within the United States. Non-profit organizations that meet the definition of a private foundation, as outlined by the IRS, must file this form annually.
2. Organizations with significant assets and activity: The 990-PF is required for private foundations that have significant assets or engage in substantial activities during the tax year. It helps the IRS track and ensure compliance with tax regulations relating to charitable organizations.
3. Private foundations seeking tax-exempt status: Even if a private foundation has not yet obtained tax-exempt status, they may still need to file the 990-PF form. This can provide a snapshot of the foundation's activities and finances for the IRS to consider during the application process.

It is essential to consult with a qualified tax professional or attorney familiar with private foundation tax laws to ensure accurate completion of the 990-PF form. The information provided on the form must be complete, transparent, and in compliance with all applicable regulations.

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