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Form** PUBLIC DISCLOSURE COPY **990OMB No. 15450047Return of Organization Exempt From Income Thunder section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) |

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How to fill out private foundations vs public

01

Determine the type of foundation you would like to establish based on your goals and resources.

02

Research and understand the legal requirements for setting up a private or public foundation in your country.

03

Decide on the funding structure for your foundation, including whether it will be funded by a single source or multiple donors.

04

Develop a mission statement and program guidelines that align with the purpose of your foundation.

05

Create a board of directors or trustees to oversee the foundation's operations and make important decisions.

Who needs private foundations vs public?

01

Private foundations are typically established by high-net-worth individuals or families who want to have control over how their philanthropic funds are distributed.

02

Public foundations are usually created by a broad group of donors who want to pool their resources to support charitable causes in a more collaborative manner.

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What is private foundations vs public?

Private foundations are typically funded by a small number of sources, such as an individual, family, or corporation, while public foundations receive funding from a variety of sources, including the general public.

Who is required to file private foundations vs public?

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

How to fill out private foundations vs public?

Private foundations must report information about their donors, grants, and investments on Form 990-PF, while public foundations must report information about their programs, activities, and expenses on Form 990.

What is the purpose of private foundations vs public?

Private foundations are typically focused on a specific cause or mission established by the donor, while public foundations have a broader charitable purpose and receive contributions from a wide range of donors.

What information must be reported on private foundations vs public?

Private foundations must report information about their financial activities, grants, and investments, while public foundations must report information about their programs, expenses, and activities.

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