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This document serves as the initial return for the Sears-Swetland Family Foundation, detailing its financial activities, assets, and distributions for the year 2002, as required by the Internal Revenue Service (IRS). It includes information on gross rents, dividends, interest, capital gains, and the foundation\'s compliance with tax obligations, providing a comprehensive overview of its revenue and expenses.

How to fill out 990-pf

How to fill out 990-pf

1. Gather necessary information about your organization, including its EIN.
2. Review the instructions for Form 990-PF provided by the IRS.
3. Fill out Part I to report revenue, expenses, and assets for the year.
4. Complete Part II to provide information on the foundation’s distribution of charitable contributions.
5. Fill out Part III, detailing the foundation's specific activities and programs.
6. Complete Part IV to provide details on the compensation of officers, directors, and significant employees.
7. Fill out Part V to disclose any taxable expenditures and compliance with public support tests.
8. Include any necessary schedules that apply to your foundation, such as Schedule A for foundation status.
9. Review the entire form for accuracy before submitting.
10. Submit the completed form to the IRS by the due date, ensuring to keep a copy for your records.

Who needs 990-pf?

1. Private foundations based in the United States that are tax-exempt.
2. Organizations that meet legal requirements to file this form to maintain their tax-exempt status.
3. Foundations that need to report their financial activities and distributions to the IRS annually.
4. Entities that make substantial charitable contributions and are classified as private foundations.

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What is 990-pf?

Form 990-PF is an annual informational return that private foundations must file with the IRS. It provides financial information about the foundation, including income, expenses, and distributions.

Who is required to file 990-pf?

Private foundations, as classified by the IRS, are required to file Form 990-PF annually, regardless of their income level.

How to fill out 990-pf?

To fill out Form 990-PF, foundations need to provide detailed financial statements, including balance sheets, income statements, and information on grants and compensation. It is recommended to consult IRS guidelines or a tax professional for accuracy.

What is the purpose of 990-pf?

The purpose of Form 990-PF is to provide transparency about the financial activities of private foundations, ensuring they comply with tax laws and regulations, and to inform the public about their grantmaking activities.

What information must be reported on 990-pf?

Form 990-PF requires information on a foundation's income, expenses, net assets, distributions to charitable organizations, and details about officers and directors. It also includes a schedule for reporting significant activities.