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From 990-PF Filing Tips

Understand Form 990-PF

Tax-exempt organizations must file some version of Form 990 with the IRS each year to meet Federal regulations. Private foundations must file Form 990-PF which includes disclosures of the foundation’s assets, financial activities, trustees, officers and a complete list of grants awarded during the year. Review the tips when filing Form 990 and Form 990-PF to ensure you are meeting your requirements.

Tips When Filing Form 990-PF*

Complete Schedule B (Form 990, 990-EZ, or 990-PF)...

All organizations must complete and attach Schedule B or certify the organization is not required to attach Schedule B by checking the box in Line 2, Form 990-PF.

Part XV, line 3 must be completed...

if Part I, line 25 has an amount. Be sure to state the purpose of the grant or contribution. If the foundation only makes contributions to pre-selected charitable organizations and does not accept unsolicited applications for funds, check the box on line 2, Part XV.

Complete Part XV, lines 2a through 2d...

For lines 2a through 2d, if the foundation had assets of $5,000 or more at any time during the year, unless the box in Part XV, line 2 is checked.

Be sure to complete all required Parts...

Enter amounts in all applicable lines. For Parts or lines that do not apply, enter "N/A" (not applicable). Answer "Yes", "No" or "N/A" to each question.

Complete Part II, Balance Sheets...

Foundations with total assets of $5,000 or more at any time during the year must complete all of columns (A), (B) and (C). Foundations with total assets less than $5,000 at all times during the year must complete all of columns (A) and (B) and only line 16 of column (C).

Complete Part XV, Supplementary Information...

Part XV must be completed if the foundation had assets of $5,000 or more at any time during the year.

Sign the return...

An officer of the organization must sign the return. An officer is the president, vice president, treasurer, assistant treasurer, chief accounting officer, corporate officer or tax officer. If the return is filed by a trust, it must be signed by the authorized trustee or trustees.

Complete Part X...

All domestic foundations, foreign foundations claiming status as a private operating foundation, and private operating foundations described in 4942(j)(3) or 4942(j)(5) must complete Part X.

Reminder: protect personal information...

Do not include unnecessary personal identifying information.

*Source: IRS.gov

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