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Return of Private Foundation Form 990-PF Department of the or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation Treasury For calendar year 2009, or tax year beginning Initial

How to fill out return of private foundation

How to fill out a return of a private foundation:

1. Gather all necessary financial information: Start by collecting all financial records and information relevant to the private foundation. This includes income statements, balance sheets, investment details, grants and contributions, and any other relevant documents.
2. Determine the filing deadline: Familiarize yourself with the deadline for filing the return of the private foundation. The due date for private foundation returns is typically the 15th day of the 5th month after the close of the foundation's taxable year.
3. Use Form 990-PF: The return of a private foundation is filed using Form 990-PF, which is specifically designed for private foundations. Ensure that you have the latest version of the form, which can be obtained from the official website of the Internal Revenue Service (IRS).
4. Provide organization information: Begin by providing basic information about the private foundation, including its name, address, EIN (Employer Identification Number), and tax year for which the return is being filed. Make sure the information is accurate and up to date.
5. Complete Part I: Part I of Form 990-PF consists of questions related to the foundation's Identifying Information, such as its exempt status, type of foundation, and whether it maintains a website. Answer each question accurately based on the foundation's situation.
6. Fill out Part II: Part II deals with the foundation's Income Statement and Balance Sheet. Include details on the foundation's total assets, income from investments, and any other sources of income. Provide a breakdown of expenses, including administrative costs and grants made during the tax year.
7. Report grant and contribution details: Part III of Form 990-PF focuses on grants and contributions made by the private foundation. Provide information on the nature of the grants, recipients, and amounts given. Follow the instructions provided in the form to ensure accurate reporting.
8. Complete other sections: The remaining sections of Form 990-PF cover various aspects of the private foundation's operations, such as compensation of officers, transactions with interested persons, and a supplemental schedule for foreign activities. Fill out these sections if applicable.
9. Review and submit: Once you have filled out the form, carefully review all the information provided to ensure accuracy and completeness. Ensure that all required schedules and attachments are included. Once satisfied, submit the form to the IRS by the specified filing deadline.

Who needs the return of a private foundation?

Private foundations are required by law to file a return (Form 990-PF) with the IRS every year. This includes organizations that meet the definition of a private foundation under section 509(a) of the Internal Revenue Code and are exempt from income tax under section 501(c)(3). Other exempt organizations, such as public charities, are not subject to the same filing requirements and use different forms. It is important for private foundations to fulfill this obligation to maintain their tax-exempt status and comply with IRS regulations.

For pdfFiller’s FAQs

What is return of private foundation?

The return of private foundation is a form that must be filed with the IRS to provide information on the foundation's finances and activities.

Who is required to file return of private foundation?

Private foundations are required to file a return with the IRS each year.

How to fill out return of private foundation?

The return of private foundation can be filled out online or by mail using Form 990-PF.

What is the purpose of return of private foundation?

The purpose of the return of private foundation is to report the foundation's financial information and ensure compliance with IRS regulations.

What information must be reported on return of private foundation?

Information such as the foundation's income, expenses, grants, investments, and activities must be reported on the return of private foundation.

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