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OMB N o 1545.0052Return of Private FoundationForm 9×7O^For Section 4947(AXL) Nonexempt Charitable Trust Treated as a Private Foundation Department of the Treasury Internal Revenue Service, 2009,

How to fill out 990-pf return of private

How to fill out 990-pf return of private

1. To fill out Form 990-PF, return of private foundation, you need to follow these steps:
2. Obtain the necessary forms: You can find Form 990-PF on the official website of the Internal Revenue Service (IRS). Download and print the form along with any accompanying instructions.
3. Gather all required information: You will need the foundation's basic information, such as its legal name, address, and employer identification number (EIN). Additionally, you will need information about the foundation's officers, trustees, and financial activities.
4. Complete Part I: In Part I of Form 990-PF, you will provide the foundation's basic information, including its mission statement, grant-making activities, and relationship with other organizations.
5. Complete Part II: In Part II, you will report the foundation's financial data for the tax year, including its assets, expenses, and revenue. This section also requires information about any disqualified persons and their transactions with the foundation.
6. Complete Part III: Part III requires information about the foundation's officers, directors, trustees, and key employees. You will need to provide their names, addresses, compensation, and responsibilities.
7. Complete Part IV: If the foundation made any non-cash contributions during the tax year, you need to fill out Part IV. This section requires details about the nature of the contribution, its fair market value, and the recipient organization.
8. Complete Part V: Part V requires information about the foundation's balance sheet, investments, and grants paid during the tax year.
9. Complete other sections: Depending on the foundation's activities, you may need to complete additional sections of Form 990-PF, such as Schedule A for public charity status or Schedule B for grants and contributions.
10. Review and submit: Once you have completed all the necessary sections, review the form for accuracy and make any necessary corrections. Sign and date the form, and submit it to the IRS along with any required schedules or attachments.
11. Keep a copy: Make a copy of the completed Form 990-PF for your records. The IRS recommends retaining copies of tax returns for at least three years.

Who needs 990-pf return of private?

1. Private foundations that are exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code and have assets of $5,000 or more are required to file Form 990-PF. This includes most domestic private foundations, as well as certain foreign private foundations that engage in activities within the United States.
2. In addition to the federal requirement, some states may also require private foundations to file a state-specific version of Form 990-PF or a similar annual report. Therefore, it is important to check the specific regulations of the state in which the foundation is located.
3. Filing Form 990-PF provides transparency about the activities and financial status of private foundations, allowing the IRS and the public to ensure compliance with tax laws and regulations.

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What is 990-pf return of private?

A 990-pf return of private is a tax return filed by private foundations to provide the IRS with financial information.

Who is required to file 990-pf return of private?

Private foundations are required to file 990-pf returns.

How to fill out 990-pf return of private?

The 990-pf return of private can be filled out online through the IRS website or by using tax preparation software.

What is the purpose of 990-pf return of private?

The purpose of the 990-pf return of private is to report financial information and ensure compliance with tax laws.

What information must be reported on 990-pf return of private?

Information such as income, expenses, grants awarded, and assets must be reported on the 990-pf return of private.