Form 990-PF Instructions

Who must File Form 990-PF?

Form 990-PF must be filed by the following foundations

• Section 4947(a)(1) nonexempt charitable trusts treated as private foundations (section 6033(d)).
• Exempt private foundations (section 6033(a), (b), and (c)).
• Taxable private foundations (section 6033(d)).
• Organizations that agree to private foundation status and whose applications for exempt status are pending on the due date for filing Form 990-PF.
• Organizations that claim private foundation status, haven't yet applied for exempt status, and whose application isn't yet untimely under section 508(a) for retroactive recognition of exemption.
• Organizations that made an election under section 41(e)(6) (D)(iv).
• Private foundations that are making a section 507(b) termination.

When is Form 990-PF due?

Form 990-PF is due on the 15th day of the 5th month after the end of the organization's tax year. For calendar year filers, this means Form 990-PF is due on May 15th of the following year.

However, if the due date falls on a weekend or a legal holiday, the filing deadline is extended to the next business day. Foundations can request an automatic 6-month extension by filing Form 8868, before the original due date.

In the case of a complete liquidation, dissolution, or termination, the 990-PF return must be filed by the 15th day of the 5th month following complete liquidation, dissolution, or termination.

Form 990-PF penalty

If an organization doesn't file timely and completely or doesn't furnish the correct information on its 990-PF, it must pay $20 for each day the failure continues ($120 a day if it is a large organization), unless it can show that the failure was due to reasonable cause.

The maximum penalty for each return won't exceed the smaller of $12,000 ($60,000 for a large organization) or 5% of the gross receipts of the organization for the year.

Penalties for Not Paying Tax on Time

The penalty is generally 1/2 of 1% of the unpaid tax for each month or part of a month the tax remains unpaid, not to exceed 25% of the unpaid tax.

Form 990-PF Instructions - How to fill out?

Let's see line-by-line instructions on how to fill out Form 990-PF.

This section requires information about your foundation, including name, address, accounting method, tax-exempt status, and tax period.

Item A - Employer identification number

This section collects information about your organization's EIN. If your organization has more than one EIN, notify the Internal Revenue Service and they will advise which number to use in the return.

Item B - Telephone Number

This section requires your foundation’s telephone number (including the area code) that the public and government regulators may use to obtain information about the foundation's finances and activities.

Item C - Check this checkbox if your exemption application is pending

Item D - Foreign Organizations

1. If your foundation is a foreign organization, then Check the box in D1 in the Heading section on page 1 of Form 990-PF. Also, the foundation must not complete Part IV or Part I, line 7.
2. If the foreign organization meets the 85% test of Regulations section 53.4948-1(b), then:

• Check the box in D2 in the Heading section on page 1 of Form 990-PF,
• Check the box at the top of Part X,
• Don't fill in Parts X and XII,
• Don't fill in Part IX unless it is claiming status as a private operating foundation, and
• Attach the computation of the 85% test to Form 990-PF

Item E - Section 507(b)(1)(A) Terminations

If your private foundation status was terminated under section 507(b)(1)(A), then check the Item E box in the Heading section on page 1 of Form 990-PF.

Item F - 60-Month Termination Under Section 507(b)(1)(B)

If your private foundation is terminating its private foundation status under the 60-month provisions of section 507(b)(1)(B) during the period covered by this return, then check the Item F box in the Heading section on page 1 of Form 990-PF.

Item G - Applicable Checkboxes

Check the appropriate boxes to indicate changes on the current return compared with the previously filed 990-PF return.

Initial Return - Check the box if the foundation is filing a Form 990-PF return for the first time and hasn't previously filed a Form 990-EZ, 990-PF, 990-T, or 990-N return.

Initial Return of a Former Public Charity - Check the box if the foundation is filing a Form 990-PF return for the first time as a public charity.

Final Return - Check the box if the foundation has terminated its existence or ceased to be a Private Foundation and is filing its final return.

Amended Return - Check the box if the foundation is filing an amended return for the tax year to amend the previously filed return for the same tax year.

You must also attach Schedule O, explain which parts, schedules, or attachments of Form 990-PF were amended, and describe those amendments.

Address Change - Check the box if the foundation changed its address and didn't report the change on the previously filed Form 990-PF.

Name Change - Check the box if the foundation changed its legal name (not its “DBA” name) and didn't report the change on the previously filed 990-PF return.

You must also attach supporting documents for the name change based on your foundation's type.

Item H - Type of Organization

• Check the box for “Section 501(c)(3) exempt private foundation” if the foundation has a ruling or determination letter from the IRS in effect that recognizes its exemption from federal income tax as an organization described in section 501(c)(3) or if the organization's exemption application is pending with the IRS.
• Check the “Section 4947(a)(1) nonexempt charitable trust” box if the trust is a nonexempt charitable trust treated as a private foundation.
• If your foundation doesn't come under the first two foundation types, check the “Other taxable private foundation” box.

Item I - Fair Market Value of All Assets

In this section, enter the fair market value of all assets the foundation held at the end of the tax year.

Item J - Accounting method

Select the accounting method the organization used to complete its Form 990-PF return. It can be Cash, Accrual, or Other.

If the organization changed its method of accounting from a prior year or checked “Other,” explain the change on Schedule O (Form 990)

Part I - Analysis of Revenue and Expenses

Line 1 - Enter the total gross contributions, gifts, grants, and similar amounts your organization received for the tax year.

Line 2 - Check the checkbox in line 2 if the foundation isn't required to attach Schedule B.

Line 3 - Interest on savings and temporary cash investments.

• In column (a) - Enter the total amount of interest income from investments reportable in Part II, line 2. These include savings or other interest-bearing accounts and temporary cash investments, such as money market funds, commercial paper, certificates of deposit, and U.S. Treasury bills or other government obligations that mature in less than 1 year.
• In column (b) - Enter the amount of interest income shown in column (a). Don't include interest on tax-exempt government obligations.
• In column (c) - Enter the amount of interest income shown in column (a). Include interest on tax-exempt government obligations.

Line 4 - Dividends and interest from securities

• In column (a). Enter the amount of dividend and interest income from securities (stocks and bonds) reportable in Part II, line 10. Include amounts received from payments on securities loans, as defined in section 512(a)(5). Don't include any capital gain dividends reportable on line 6a. Report income from program-related investments on line 11. For debt instruments with an original issue discount, report the original issue discount ratably over the life of the bond on line 4. See section 1272 for more information.
• In column (b). Enter the amount of dividend and interest income and payments on securities loans from column (a). Don't include interest on tax-exempt government obligations.
• In column (c). Enter the amount of dividend and interest income and payments on securities loans from column (a). Include interest on tax-exempt government obligations.

Line 5a - Gross rents

• In column (a). Enter the gross rental income for the year from investment property reportable in Part II, line 11.
• In columns (b) and (c). Enter the gross rental income from column (a).

Line 5b - Net rental income or (loss)

Figure the net rental income or (loss) for the year and enter that amount on the entry line to the left of column (a).

Also, report rents from other sources on line 11. Enter any expenses attributable to the rental income reported on line 5, such as interest and depreciation, on lines 13–23.

Line 6a - Enter here the net gain or (loss) per book from all asset sales not included in line 10.

For assets sold and not included in Part IV, attach a schedule showing:

• Date acquired;
• Manner of acquisition;
• Gross sales price;
• Cost, other basis, or value at time of acquisition (if donated) and which of these methods was used;
• Date sold;
• To whom sold;
• Expense of sale and cost of improvements made after acquisition; and
• Depreciation since acquisition (if depreciable property).

Line 6b - Enter in this line the gross sales price from all asset sales whose net gain or loss was reported on line 6a.

Line 7 - Enter in line 7 the capital gain net income from Part IV, line 2.

Line 8 - Enter only the net short-term capital gain for the year (assets sold or exchanged that were held not more than 1 year). Don't include net long-term capital gain or net loss in column (c).

Don't include the net gain from the sale or exchange of depreciable property, or land used in a trade or business (section 1231) and held for more than 1 year. However, include net loss from such property on line 23 as an Other expense.

Line 9 - Income modifications.

Include on this line:

1. Amounts received or accrued as repayments of amounts taken into account as qualifying distributions;
2. Amounts received or accrued from the sale or other disposition of property to the extent that the acquisition of the property was considered a qualifying distribution for any tax year;
3. Any amount set aside for a specific project (see explanation in the instructions for Part XI) that wasn't necessary for the purposes for which it was set aside;
4. Income received from an estate, but only if the estate was considered terminated for income tax purposes due to a prolonged administration period; and
5. Amounts treated in an earlier tax year as qualifying distributions to:

Lines 10a, b, c - Gross profit from sales of inventory

Enter in line 10 the gross sales (less returns and allowances), cost of goods sold, and gross profit or (loss) from the sale of all inventory items, including those sold in the course of special events and activities. These inventory items are the ones the organization either makes to sell to others or buys for resale.

• Don't report any sales or exchanges of investments on line 10.
• Don't include any profit or (loss) from the sale of capital items such as securities, land, buildings, or equipment on line 10. Enter these amounts on line 6a.
• Don't include any business expenses such as salaries, taxes, rent, etc., on line 10. Include them on lines 13–23.

Attach a schedule showing the following items: gross sales, cost of goods sold, and gross profit or (loss). These items should be classified according to the type of inventory sold (such as books, tapes, other educational or religious material, etc.). The totals from the schedule should agree with the entries on lines 10a– 10c.

In column (c), enter the gross profit or (loss) from sales of inventory shown on line 10c, column (a).

Line 11- Other income

Enter the total of all the foundation's Other Income for the year. Attach a schedule that gives a description and the amount of the income. Include all income not reported on lines 1 through 10c.

Don't include unrealized gains and losses on investments carried at market value. Report those as fund balance or net asset adjustments in Part III.

• In column (b). Enter the amount of investment income included in line 11, column (a). Include dividends, interest, rents, and royalties derived from assets devoted to charitable activities, such as interest on student loans.
• In column (c). Include all other items includible in adjusted net income not covered elsewhere in column (c).

Line 12 - Add lines 1–11 in columns (a)–(c) and enter the total value in line 12.

In column (b). Domestic organizations should enter the total of lines 3–11. Tax-exempt foreign foundations should exclude the line 7 amount from the total.

Line 13 - Compensation of officers, directors, trustees, etc.

• In column (a). Enter the total compensation for the year of all officers, directors, and trustees. If none was paid, enter zero. Complete line 1 of Part VII to show the compensation of officers, directors, trustees, and foundation managers.
• In columns (b), (c), and (d). Enter the portion of the compensation included in column (a) that applies to the column. For example, in column (c), enter the portion of the compensation included in column (a) paid or incurred to produce or collect income included in column (c).

Line 14 - In line 14, enter the salaries and wages of all employees other than those included in line 13.

Line 15 - Enter the employer's share of contributions the organization paid to qualified and nonqualified pension plans and the employer's share of contributions to employee benefit programs (such as insurance, health, and welfare programs) that aren't an incidental part of a pension plan.

Also include the amount of federal, state, and local payroll taxes for the year, but only include those that are imposed on the organization as an employer. This includes the employer's share of social security and Medicare taxes, FUTA tax, state unemployment compensation tax, and other state and local payroll taxes.

Don't include taxes withheld from employees' salaries and paid over to the various governmental units (such as federal and state income taxes and the employee's share of social security and Medicare taxes).

Lines 16a, b, and c - Legal, accounting, and other professional fees

On the appropriate line(s), enter the legal, accounting, auditing, and other professional fees (such as fees for fundraising or investment services) charged by outside firms and individuals who aren't employees of the foundation.

Also, report any fines, penalties, or judgments imposed against the foundation as a result of legal proceedings on line 23.

Line 18 - Taxes

Attach a schedule listing the type and amount of each tax reported on line 18. Don’t enter any taxes included on line 15.

• In column (a). Enter the taxes paid (or accrued) during the year. Include all types of taxes recorded on the books, including real estate tax not reported on line 20, the tax on investment income, and any income tax.
• In column (b). Enter only those taxes included in column (a) related to investment income taxable under section 4940. Don't include the Section 4940 tax paid or incurred on net investment income or the Section 511 tax on unrelated business income. Sales taxes may not be deducted separately but must be treated as a part of the cost of acquired property or as a reduction of the amount realized on the disposition of the property.
• In column (c). Enter only those taxes included in column (a) that relate to income included in column (c). Don't include any excise tax paid or incurred on the net investment income (as shown in Part V) or any tax reported on Form 990-T.
• In column (d). Don't include any excise tax paid on investment income (as reported in Part V of this return or the equivalent part of a return for prior years) unless the organization is claiming status as a private operating foundation and completes Part XIII.

Line 19 - Depreciation

In column (a). Enter the expenses recorded in the books for the year.

For depreciation, attach a schedule showing:

• A description of the property,
• The date acquired,
• The cost or other basis (exclude any land),
• The depreciation allowed or allowable in prior years,
• The method of computation,
• The rate (%) or life (years), and
• The depreciation this year.

On a separate line on the schedule, show the amount of depreciation included in the cost of goods sold and not included on line 19.

In columns (b) and (c). A depreciation deduction is allowed only for property used in the production of income reported in the column, and only using the straight-line method of figuring depreciation. A deduction for depletion is allowed but must be figured only using the cost depletion method.

Line 20 - Enter the amount paid or incurred for the use of office space or other facilities.

• If the space is rented or leased, enter the amount of rent.
• If the space is owned, enter the amount of mortgage interest, real estate taxes, and similar expenses, but not depreciation reportable on line 19

In either case, include the amount for utilities and related expenses (for example, heat, lights, water, power, telephone, sewer, trash removal, outside janitorial services, and similar services). Don't include any salaries of the organization's employees reportable on line 14.

Line 21 - Enter the expenses for officers, employees, or others during the year for travel, attending conferences, meetings, etc.

Include transportation (including fares, mileage allowance, or automobile expenses), meals and lodging, and related costs whether paid based on a per diem allowance or actual expenses incurred. However, don't include any compensation paid to those who participate.

• In column (b). Only 50% of the expense for business meals paid or incurred in connection with travel, meetings, etc., relating to the production of investment income may be deducted in figuring net investment income (section 274(n)).
• In column (c). Subject to the Special rule, earlier, limiting amounts reported in column (c) by the income generated by a charitable activity, enter the total amount of expenses paid or incurred by officers, employees, or others for travel, conferences, meetings, etc., related to income included in column (c).

Line 22 - Enter in this line the expenses for printing publishing and distributing any newsletters, magazines, etc. Also include the cost of subscriptions to, or purchases of, magazines, newspapers, etc.

Line 23 - Enter all other expenses for the year. Include all expenses not reported on lines 13–22.

If a deduction is claimed for amortization, attach a schedule showing:

• Description of the amortized expenses;
• Date acquired, completed, or expended;
• Amount amortized;
• Deduction for prior years;
• Amortization period (number of months);
• Current-year amortization; and
• Total amount of amortization.

Line 24 - Total operating and administrative expenses.

Add lines 13 through 23 and enter the sum amount in line 24. This amount will be the foundation’s total operating and administrative expenses.

Line 25 - Don’t report on line 25 direct program expenditures that aren't contributions, gifts, or grants. These amounts should be reported on lines 13– 24.

In column (a). Enter the total of all contributions, gifts, grants, and similar amounts paid (or accrued) for the year. List each contribution, gift, grant, etc., in Part XIV, or attach a schedule of the items included on line 25 and list:

1. Name and address of donee;
2. Relationship of donee if related by:
1. Blood,
2. Marriage, ,
3. Adoption, or
4. Employment (including children of employees) to any disqualified person

Line 26 - Total expenses and disbursements.

Add lines 24 and 25 and enter the sum in this line. The sum amount will be the foundation's total expenses and disbursements for the tax year. administrative expenses.

Line 27a - Excess of revenue over expenses and disbursements.

Subtract line 26, column (a), from line 12, column (a), and enter the difference in this line.

Line 27b - Net investment income.

Domestic organizations should subtract line 26, column (b), from line 12, column (b), and enter the difference. Exempt foreign organizations should enter the amount shown on line 12, column (b)

However, if the organization is a domestic organization and line 26, column (b), is more than line 12, column (b) (such as when expenses exceed income), enter zero (not a negative amount).

Line 27c - Adjusted net income

Subtract line 26, column (c), from line 12, column (c), and enter the difference in this line.

Part II - Balance Sheets

Foundations whose books of account included total assets of $5,000 or more at any time during the year must complete all columns (a), (b), and (c).

Foundations with less than $5,000 of total assets per book at all times during the year must complete all of the columns (a) and (b) and only line 16 of column (c).

Line 1 - Enter the amount of cash on deposit in checking accounts, deposits in transit, change funds, petty cash funds, and any other non-interest-bearing account.

However, don't include advances to employees or officers or refundable deposits paid to suppliers or others.

Line 2 - Enter in this line the total of cash in savings or other interest-bearing accounts and temporary cash investments, such as money market funds, commercial paper, certificates of deposit, and U.S. Treasury bills or other governmental obligations that mature in less than 1 year.

Line 3 - In column (a), enter the year-end figures for total accounts receivable and allowance for doubtful accounts from the sale of goods and/or the performance of services. In columns (a), (b), and (c), enter net amounts (total accounts receivable reduced by the corresponding allowance for doubtful accounts).

Line 4 - In column (a), enter the year-end figures for total pledges receivable and allowance for doubtful accounts (pledges estimated to be uncollectible). In columns (a), (b), and (c), enter net amounts (total pledges receivable reduced by the corresponding allowance for doubtful accounts)

Line 5 - Enter the total grants receivable from governmental agencies, foundations, and other organizations as of the beginning and end of the year.

Line 6 - Enter in this line (and on an attached schedule described below) all receivables due from officers, directors, trustees, foundation managers, and other disqualified persons and all secured and unsecured loans (including advances) to such persons.

Attached schedules.

1. On the required schedule, report each loan separately, even if more than one loan was made to the same person or the same terms apply to all loans made.
2. Receivables that are subject to the same terms and conditions (including credit limits and rate of interest) as receivables due from the general public from an activity functionally related to the foundation's charitable purposes may be reported as a single total for all the officers, directors, etc.

For each outstanding loan or other receivable that must be reported separately, the attached schedule should show the following information (preferably using columns).

1. Borrower's name and title.
2. Original amount.
3. Balance due.
4. Date of note.
5. Maturity date.
6. Repayment terms.
7. Interest rate.
8. Security provided by the borrower.
9. Purpose of the loan.
10. Description and fair market value of the consideration furnished by the lender (for example, cash—$1,000; or 100 shares of XYZ, Inc., common stock— $9,000)

However, don't adjust the amounts reported by any amount(s) estimated to be uncollectible.

Line 7 - Enter the combined total year-end figures for other notes receivable and loans receivable and the allowance for doubtful accounts.

Notes receivable. In columns (a), (b), and (c), enter the amount of all notes receivable not listed on line 6 and not acquired as investments. Attach a schedule similar to the one for line 6. The schedule should also identify the relationship of the borrower to any officer, director, trustee, foundation manager, or other disqualified person.

Loans receivable. In columns (a), (b), and (c), enter the gross amount of loans receivable, minus the allowance for doubtful accounts, from the normal activities of the filing organization (such as scholarship loans). An itemized list of these loans isn't required, but attach a schedule showing the total amount of each type of outstanding loan.

Line 8 - Enter in this line the amount of materials, goods, and supplies purchased or manufactured by the organization and held for sale or use in some future period.

Line 9 - Enter the amount of short-term and long-term prepayments of expenses attributable to one or more future accounting periods.

Examples include prepayments of rent, insurance, and pension costs, and expenses incurred in connection with a solicitation campaign to be conducted in a future accounting period.

Lines 10a, b, and c. Investments— government obligations, corporate stock and bonds

Enter the book value (which may be the market value) of these investments. Attach a schedule that lists each security held at the end of the year and shows whether the security is listed at cost (including the value recorded at the time of receipt in the case of donated securities) or end-of-year market value.

Line 11

• In column (a), enter the year-end book value (excluding accumulated depreciation), and on the second dashed line, enter the accumulated depreciation of all land, buildings, and equipment held for investment purposes, such as rental properties.
• In columns (a) and (b), enter the book value of all land, buildings, and equipment held for investment less accumulated depreciation.
• In column (c), enter the fair market value of these assets.

Attach a schedule listing these investment fixed assets held at the end of the year and showing, for each item or category listed, the original cost or other basis, accumulated depreciation, and ending book value.

Line 12 - Enter in this line the amount of mortgage loans receivable held as investments but don't include program-related investments.

Line 13 - Enter here the amount of all other investment holdings not reported on lines 10 through 12.

Also, attach a schedule listing and describing each of these investments held at the end of the year. Show the book value for each and indicate whether the investment is listed at cost or end-of-year market value. Don’t include program-related investments (see the instructions for line 15).

Line 14 - In columns (a) and (b), enter the book value of all land, buildings, and equipment not held for investment less accumulated depreciation. In column (c), enter the fair market value of these assets. Include any property, plant, and equipment owned and used by the organization to conduct its charitable activities.

Attach a schedule listing these fixed assets held at the end of the year and showing the original cost or other basis, accumulated depreciation, and ending book value of each item or category listed.

Line 15 - In this line, list the book value of each category of assets not reportable on lines 1 through 14.

One type of asset reportable on line 15 is program-related investments. These are investments made primarily to accomplish a charitable purpose of the filing organization with no significant purpose to produce income.

Line 16 - All filers must complete line 16 of columns (a), (b), and (c). These entries represent the totals of lines 1 through 15 of each column.

However, foundations that have assets of less than $5,000 per book at all times during the year need not complete lines 1 through 15 of column (c).

Line 17 - Enter in line 17 the total of accounts payable to suppliers and others and accrued expenses, such as salaries payable, accrued payroll taxes, and interest payable.

Line 18 - Enter here the unpaid portion of grants and awards the organization has committed to pay other organizations or individuals, whether or not the commitments have been communicated to the grantees.

Line 19 - Include in this line revenue that your organization has received but not yet earned as of the balance sheet date under its method of accounting.

Line 20 - Enter here the unpaid balance of loans received from officers, directors, trustees, and other disqualified persons.

If loans are outstanding at the end of the year, attach a schedule that shows (for each loan) the name and title of the lender and the information listed in items 2 through 10 of the instructions for line 6, earlier.

Line 21 - Enter the amount of mortgages and other notes payable at the beginning and end of the year. Also, attach a schedule showing, as of the end of the year, the total amount of all mortgages payable and, for each nonmortgage note payable, the name of the lender and the other information specified in items 2 through 10 of the instructions for line 6, earlier.

Line 22 - In line 22, list the amount of each liability not reportable on lines 17 through 21. You can attach a separate schedule if more space is needed.

Line 23 - Add lines 17 through 22 and enter the sum in this line. The total amount is the Total liabilities.

Lines 24 - 30. Net Assets or Fund Balances

Line 24 - Enter here the balances per book of the net assets without donor restrictions class of net assets.

Net assets without donor restrictions are neither permanently restricted nor temporarily restricted by donor-imposed stipulations. All funds without donor-imposed restrictions must be classified as net assets without donor restrictions, regardless of the existence of any board designations or appropriations.

Line 25 - The organization must use this line to show the balance per books of net assets with donor-imposed restrictions that may require resources to be used after a specified date (time restrictions), used for a specified purpose (purpose restrictions), or both.

Line 26 - Capital stock, trust principal, or current funds

• For corporations, enter the balance per book for capital stock accounts. Show par or stated value (or for stock with no par or stated value, the total amount received upon issuance) of all classes of stock issued and, as yet, uncanceled.
• For trusts, enter the amount in the trust principal or corpus account.
• For foundations continuing to use the fund method of accounting, enter the fund balances for the foundation's current restricted and unrestricted funds

Line 27 - Enter in line 27 the balance per book for all paid-in capital over par or stated value for all stock issued and uncanceled. If stockholders or others gave donations that the organization records as paid-in capital, include them here.

Report any current-year donations you included on line 27 in Part I, line 1. The fund balance for the land, building, and equipment fund would be entered here.

Line 28 - Retained earnings, accumulated income, endowment, or other funds.

• For corporations, enter the balance in the retained earnings, or similar account, minus the cost of any corporate treasury stock.
• For trusts, enter the balance per book in the accumulated income or similar account.
• For foundations using fund accounting, enter the total of the fund balances for the permanent and term endowment funds as well as balances of any other funds not reported on lines 26 and 27

Line 29 - Total net assets or fund balances

For foundations that follow FASB ASC 958, enter the total of lines 24 and 25. For all other foundations, enter the total of lines 26 through 28

Line 30 - Total liabilities and net assets/fund balances

Enter the total of lines 23 and 29. This amount must equal the amount for total assets reported on line 16 for both the beginning and end of the year.

Part III - Analysis of Changes in Net Assets or Fund Balances

Line 1 - In this line, the total net assets or fund balances at the beginning of the year—Part II, column (a), line 29 (must agree with the end-of-year figure reported on the prior year's return)

Line 2 - In this line, re-enter the amount from Part I, line 27(a), column (a).

Line 3 - Enter here the increase in net assets that wasn't included in line 2.

Line 4 - Add lines 1, 2, and 3 and enter the sum in line 4.

Line 5 - Enter the net asset decrease not included in line 2.

Line 6 - Calculate Total net assets or fund balances at the end of the year (line 4 minus line 5)—Part II, column (b), line 29 and enter the value in line 6.

Part IV - Capital Gains and Losses for Tax on Investment Income

As a private foundation, you can use Part IV to figure the amount of net capital gain to report on lines 7 and 8 of Part I. This part doesn't apply to foreign organizations.

Line 1 - Publicly traded securities are securities that are listed and regularly traded on an over-the-counter market or an established exchange in which market quotations are published or otherwise readily available. Securities include

• Common and preferred stock,
• Bonds (including governmental obligations), and
• Mutual fund shares.

1. For sales of publicly traded securities through a broker, enter the description “publicly traded securities” on line 1, column (a).
2. Leave columns (b), (c), and (d) blank.
3. Total the gross sales price, the cost or other basis, and the expense of sale on all such securities sold. Report these lump-sum figures in columns (e) through (l), as appropriate

You must maintain detailed records of each transaction in your books and records.

Other gains and losses - For sales of anything other than publicly traded securities sold, each transaction must be listed and reported separately, completing all appropriate columns in Part IV.

Line 2 - Capital gain net income or (net capital loss)

If the value is gain, enter in Part I, line 7. If (loss), enter -0- in Part I, line 7

Line 3 - Net short-term capital gain or (loss) as defined in sections 1222(5) and (6)

If the value is gained, enter in Part I, line 8, column (c). See instructions. If (loss), enter -0- in Part I, line 8.

Part V - Excise Tax Based on Investment Income

Line 1a. Domestic exempt private foundations - If your foundation is an exempt operating foundation described in section 4940(d)(2), check the checkbox in this line and enter “N/A”

Line 1b. Domestic taxable private foundations and section 4947(a) (1) nonexempt charitable trusts - IAll other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations, enter 4% (0.04) of Part I, line 12, col. (b)

Line 2 - If your organization comes under section 4940(b), a domestic section 4947(a)(1) nonexempt charitable trust or taxable private foundation, it must add to the tax figured under section 4940(a) (on line 1) the tax which would have been imposed under section 511 for the tax year if it had been exempt from tax under section 501(a).

Line 4 - Domestic section 4947(a)(1) nonexempt charitable trusts and taxable private foundations, enter the amount of subtitle A (income) tax for the year reported on Form 1041 or Form 1120. All other filers, enter zero.

Line 6 - Credits and Payments

Line 6a - Enter in this line the amount of 2023 estimated tax payments and any 2022 overpayment of taxes that the organization specified on its 2022 return to be credited toward payment of 2023 estimated taxes.

Line 6b - Exempt foreign foundations must enter the amount of tax withheld at the source here.

Line 6c - Enter this line the tax paid with the application for an extension of time to file (Form 8868).

Line 6d - Enter here the amount of any backup withholding erroneously withheld.

Line 7 - Add lines 6a through 6d and enter the total in this line. This will be the Total credits and payments.

Line 8 - Enter in this line any penalty for underpayment of estimated tax shown on Form 2220.

Line 9 - Tax due. If the sum of lines 5 and 8 is more than line 7, enter the amount owed in this line.

Line 10 - Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid in this line.

Line 11 - Enter here the amount of line 10 to be: Credited to the 2024 estimated tax amount.

Part VI-A Statements Regarding Activities

Line 1a - Select “Yes” if the foundation attempted to influence any national, state, or local legislation or participated or intervened in any political campaign.

Line 1b - Select “Yes” if the foundation spent more than $100 during the year (either directly or indirectly) for political purposes.

If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials published or distributed by the foundation in connection with the activities.

Line 1c - Select “Yes” if the foundation filed Form 1120-POL for this year.

Line 1d - Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year for both the foundation and foundation managers.

Line 1e - Enter in this line the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on foundation managers

Line 2 - Select “Yes” if the foundation engaged in any activities that have not previously been reported to the IRS. If “Yes,” attach a detailed description of the activities.

Line 3 - Select “Yes” if the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, bylaws, or other similar instruments. If “Yes,” attach a conformed copy of the changes.

Line 4a - Select “Yes” if the foundation has an unrelated business gross income of $1,000 or more during the year.

Line 4b - If the foundation selected “Yes” to line 4a, select Yes in this line if it filed a tax return on Form 990-T for this year.

Line 5 - Select “Yes” if there was a liquidation, termination, dissolution, or substantial contraction during the year. If selected “Yes,” attach the statement required by General Instruction T.

Line 6 - Select “Yes” if the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

• By language in the governing instrument, or
• By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law remain in the governing instrument?

Line 7 - Select “Yes” if the foundation has at least $5,000 in assets at any time during the year. If selected “Yes,” the foundation must complete Part II, col. (c), and Part XIV.

Line 8a - Enter in this line the states

1. To which the organization reports in any way about its organization, assets, or activities; and
2. With which the organization has registered (or which it has otherwise notified in any manner) that it intends to be, or is a charitable organization or that it is, or intends to be, a holder of property devoted to a charitable purpose.

Attach a separate list if you need more space. Line 8 doesn't apply to foreign foundations described in section 4948(b).

Line 8b - If the foundation selected “Yes” to line 7, select whether it furnished a copy of Form 990-PF to the Attorney General (or designate) of each state, as required by General Instruction G. If the answer “No,” attach an explanation.

Line 9 - Select “Yes” if the foundation is claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for the calendar year 2023 or the tax year beginning in 2023. If selected “Yes,” the foundation must complete Part XII.

Line 10 - Select “Yes” if any persons become substantial contributors during the tax year and attach a schedule listing their names and addresses.

Line 11 - Select “Yes,” if at any time during the year the foundation, directly or indirectly, owned a controlled entity within the meaning of section 512(b)(13).

A controlled entity is an entity in which the foundation owns more than 50% of the:

1. Stock (by vote or value) in a corporation,
2. Interest (of profit or capital) in a partnership, or
3. The beneficial interest of any other entity.

If “Yes,” the foundation must attach a schedule listing the name, address, and EIN of each controlled entity and stating whether the controlled entity is an excess business holding.

Line 12 - Select “Yes” if the foundation made a distribution to a donor-advised fund over which the foundation or a disqualified person had advisory privileges.

If “Yes,” include an attachment stating whether the foundation treated any distribution to a donor-advised fund as a qualifying distribution, and explain how the distributions will be used to accomplish a purpose described in section 170(c)(2)(B).

Line 13 - Select “Yes” if the foundation complies with the public inspection requirements for its annual returns and exemption application. If “Yes,” enter the foundation's website address if the foundation has a website. Otherwise, enter “N/A.”

Line 15 - Section 4947(a)(1) nonexempt charitable trusts that file Form 990-PF instead of Form 1041 must check and complete this line.

The trust should include exempt-interest dividends received from a mutual fund or other regulated investment company as well as tax-exempt interest received directly.

Line 16 - Select “Yes” if, at any time during the calendar year 2023, the foundation has an interest in or a signature or other authority over a bank, securities, or other financial account in a foreign country.

If selected “Yes,” electronically file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), with the Department of the Treasury using the FinCEN's BSA E-Filing System. Because FinCEN Form 114 isn't a tax form, don't file it with Form 990-PF.

Part VI-B - Statements Regarding Activities for Which Form 4720 May Be Required

The purpose of questions in this part is to determine whether any initial excise tax is due under sections 4941–4945, 170(f)(10), 4960, and 4965. If the answer is “Yes” to the question on lines 1b, 1c, 2b, 3b, 4a, 4b, 5b, 6b, 7b, or 8, complete and file Form 4720 unless an exception applies.

Line 1a

Select “Yes” or “No” during the year, did the foundation (either directly or indirectly):

1. Engage in the sale, exchange, or leasing of property with a disqualified person?
2. Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?
3. Furnish goods, services, or facilities to (or accept them from) a disqualified person?
4. Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
5. Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)
6. Agree to pay money or property to a government official? (Exception. Check “No” if the foundation agreed to make a grant to or to employ the official for a period after termination of government service if terminating within 90 days.)

Line 1b - If your foundation answered “Yes” to any of the questions in line 1a, it should answer “Yes” to line 1b unless all of the acts engaged in were acts excepted by the regulations under section 4941 or other guidance, including Notices published in the Internal Revenue Bulletin relating to disaster assistance.

Line 1c - Check this line if your foundation is one of the organizations relying on a current notice regarding disaster assistance.

Line 1d - Select “Yes” if the foundation engaged in a prior year in any of the acts described in 1a, other than excepted acts, that were not corrected before the first day of the tax year beginning in 2023.

Line 2a - Select “Yes” if, at the end of the tax year 2023, the foundation has any undistributed income (Part XII, lines 6d and 6e) for the tax year(s) beginning before 2023. If “Yes,” list the years

Line 2b - Select “Yes” if there are any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income.

If you answer “No” to the question on line 2b, attach a statement explaining:

• All the facts regarding the incorrect valuation of assets; and
• The actions taken (or planned) to comply with section 4942(a) (2)(B), (C), and (D) and the related regulations.

Foreign foundations described in section 4948(b) need not complete line 2.

Line 2c - If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

Line 3a - If “Yes,” did it have excess business holdings in 2023 as a result of

• Any purchase by the foundation or disqualified persons after May 26, 1969;
• The lapse of the 5 years (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or
• The lapse of the 10-, 15-, or 20-year first phase holding period?

Use Form 4720, Schedule C, to determine if the foundation had excess business holdings in 2023.

Line 4a - Select “Yes” if the foundation invested during the year any amount in a manner that would jeopardize its charitable purposes.

Line 4b - Select “Yes” if the foundation made any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023.

Line 5a - Select “Yes” or “No” during the year, did the foundation pay or incur any amount to:

1. Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))
2. Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?
3. Provide a grant to an individual for travel, study, or other similar purposes.
4. Provide a grant to an organization other than a charitable, etc., organization described in section 4945(d)
5. Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or the prevention of cruelty to children or animals?

Line 5b - If the foundation answered “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?

Line 5c - Check the checkbox in this line if your foundation is an organization relying on a current notice regarding disaster assistance.

Line 5d - If your foundation’s answer is “Yes” to question 5a(4), answer whether the foundation claims exemption from the tax because it maintained expenditure responsibility for the grant.

Line 6a -Select “Yes” if the foundation, during the year, received any funds, directly or indirectly, to pay premiums on a personal benefit contract.

Line 6b - Select “Yes” if, in connection with any transfer of funds to a private foundation, the foundation directly or indirectly pays premiums on any personal benefit contract, or there is an understanding or expectation that any person will directly or indirectly pay these premiums.

If the foundation selected “Yes” to 6b, it must file Form 8870, Information Return for Transfers Associated With Certain Personal Benefit Contracts.

Line 7a - Select “Yes” if the foundation was a party to a prohibited tax shelter transaction (PTST) as described in section 4965(e) at any time during the tax year.

Line 7b - Select “Yes” if the foundation answered “Yes” to line 7a, and it had net income or received proceeds attributable to the PTST during the tax year.

If the foundation answers “Yes” to both lines 7a and 7b, it may be required to file Form 4720 and pay tax concerning each PTST. The foundation's managers may also be required to file Form 4720 and pay tax concerning the relevant PTSTs.

Line 8 - Select “Yes” if the foundation is subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year.

Part VII - Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors

Line 1 - List the names, addresses, and other information requested for those who were officers, directors, and trustees (or any person who had responsibilities or powers similar to those of officers, directors, or trustees) of the foundation at any time during the year.

1. (a) Name and address
2. (b) Title, and average hours per week devoted to position
3. (c) Compensation (If not paid, enter -0-)
4. (d) Contributions to employee benefit plans and deferred compensation
5. (e) Expense account, other allowances

Enter zero in columns (c), (d), and (e) if no compensation was paid. Attach a schedule if more space is needed.

Line 2 - Enter here the information requested for the five employees (if any) of the foundation (or disregarded entity that the foundation owns) who received the greatest amount of annual compensation over $50,000.

Don't include employees listed already on line 1. Also, enter the total number of other employees who received more than $50,000 in annual compensation.

1. (a) Name and address of each employee paid more than $50,000
2. (b) Title, and average hours per week devoted to position
3. (c) Compensation
4. (d) Contributions to employee benefit plans and deferred compensation
5. (e) Expense account, other allowances

Line 3 - Enter in line 3 the information requested for the five highest-paid independent contractors (if any), whether individuals or professional service corporations or associations, to whom the organization paid more than $50,000 for the year to perform personal services of a professional nature for the organization (for example, attorneys, accountants, and doctors).

1. (a) Name and address of each person paid more than $50,000
2. (b) Type of service
3. (c) Compensation

Also, include the total number of all other independent contractors who received more than $50,000 for the year for performing professional services.

Part VIII-A - Summary of Direct Charitable Activities

This part comprises the Summary of Direct Charitable Activities of the foundation for the tax year.

List the foundation's four largest programs as measured by the direct and indirect expenses attributable to each that consist of the direct active conduct of charitable activities.

Whether any expenditure is for the direct active conduct of a charitable activity is determined, generally, by the definitions and special rules of section 4942(j)(3) and the related regulations, which define a private operating foundation.

What to Include

• Include scholarships, grants, or other payments to individuals as part of an active program in which the foundation maintains some significant involvement.
• Related administrative expenses should be included.
• Include qualified set-asides for direct charitable activities reported on line 3 of Part XI.
• Include in Part VIII-A amounts paid or set aside to acquire assets used in the direct active conduct of charitable activities.

What Not to Include

• Don't include in Part VIII-A any grants or expenses attributable to administering grant programs, such as reviewing grant applications, interviewing or testing applicants, selecting grantees, and reviewing reports relating to the use of the grant funds.
• Don't include any program-related investments (reportable in Part VIII-B) in the description and expense totals.
• Don't include current-year expenditures of amounts previously reported as set-asides in Part VIII-A.

Part VIII-B - Summary of Program-Related Investments

This part comprises the Summary of Program-Related Investments of the foundation for the tax year.

Report here all program-related investments made in the current tax year. Only report investments made in a prior year if they were still held by the foundation in the current tax year.

Lines 1 and 2 - List the two largest program-related investments made by the foundation in 2023, if any, and whether or not the investments were still held by the foundation at the end of the year. If none, enter “NONE.”

Lines 3 - Combine all other program-related investments and enter the total on line 3 in the Amount column. List the individual investments or groups of investments included (attach a schedule, if necessary).

Part IX - Minimum Investment Return

All domestic foundations must complete Part IX of Form 990-PF return.

Line 1 - Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes

Line 1a - Enter the average monthly fair market value of securities in this line.

Line 1b - Include the average of all cash balances and amounts that may be used for charitable purposes or set aside and taken as a qualifying distribution.

Line 1c - Report here the value of all assets other than charitable-use assets, publicly traded securities, cash, and certain “excluded assets” described in Regulations section 53.4942(a)-2(c)(2).

Line 1d - Add lines 1a, 1b, and 1c and enter the sum in this line.

Line 1e - Enter the reduction amount claimed for blockage or other factors reported on lines 1a and 1c. Also, provide an explanation that includes the following information for each asset or group of assets involved.

Line 2 - Enter the total acquisition indebtedness that applies to assets included in line 1.

Line 3 - Subtract line 2 from line 1d and enter the difference in line 3.

Line 4 - Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3. If you use a larger amount, attach an explanation.

Line 5 - Subtract line 4 from line 3 and enter the difference in line 5. This will be the Net value of noncharitable-use assets.

Line 6 - Minimum Investment.

Enter 5% (0.05) of line 5 (Net value of noncharitable-use assets)

If the foundation's tax period is less than 12 months, determine the applicable percentage by dividing the number of days in the short tax period by 365 (or 366 in a leap year). Multiply the result by 5% (0.05). Then multiply the modified percentage by the amount on line 5 and enter the result on line 6.

Part X - Distributable Amount

If the organization is claiming status as a private operating foundation described in section 4942(j)(3) or (j)(5) or if it is a foreign foundation that checked Item D2 in the Heading section on page 1, check the box in the Heading section for Part X.

You don't need to complete this part.

Line 1 - Enter in this line the minimum investment return value from Part IX, line 6.

Line 2a - Enter here the tax on investment income for 2022 from Part V, line 5.

Line 2b - Enter the income tax amount for 2022. (This must not include the tax from Part V.)

Line 2c - Add lines 2a and 2b and enter the sum amount in this line.

Line 3 - Subtract line 2c from line 1 and enter the difference in line 3. This amount will be the distributable amount before adjustments.

Line 4 - Enter here the total of recoveries of amounts treated as qualifying distributions for any year under section 4942(g).

Include recoveries of part or all (as applicable) of grants previously made, proceeds from the sale or other disposition of property whose cost was treated as a qualifying distribution when the property was acquired, and any amount set aside under section 4942(g) to the extent it is determined that this amount isn't necessary for the set-aside.

Line 5 - Add lines 3 and 4 and enter the sum amount in this line.

Line 6 - Deduction from distributable amount

If the foundation was organized before May 27, 1969, and its governing instrument or any other instrument continues to require the accumulation of income after a judicial proceeding according to section 508(e) to reform the instrument has terminated, then the income required to be accumulated must be subtracted from the distributable amount beginning with the first tax year after the tax year in which the judicial proceeding was terminated.

Line 7 - Distributable amount as adjusted

Subtract line 6 from line 5 and enter the difference here and on Part XII, line 1.

Part XI - Qualifying Distributions

Qualifying distributions are amounts spent or set aside for religious, educational, or charitable purposes. Foreign foundations described in section 4948(b) not claiming operating foundation status need not complete this part.

Line 1 - Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes

Line 1a - Expenses, contributions, gifts, etc. Enter the amount from Part I, line 26, column (d).

Line 1b - Program-related investments. Enter the total of the Amount column from Part VIII-B.

Line 2 - Enter the amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc., purposes.

Line 3 - Amounts set aside may be treated as qualifying distributions only if the private foundation establishes to the satisfaction of the IRS that the amount will be paid for the specific project within 60 months from the date of the first set-aside and meets (1) or (2) below.

1. A set-aside can better accomplish the project than the immediate payment of funds (suitability test).
2. The private foundation meets the requirements of section 4942(g)(2)(B)(ii) (cash distribution test).

Line 4 - Qualifying distributions.

Add lines 1a through 3b, and enter the sum in line 4 and on Part XII, line 4.

Part XII - Undistributed Income

The purpose of this part is to enable the foundation to comply with the rules for applying its qualifying distributions for the year 2023. In applying the qualifying distributions, there are three basic steps.

1. Reduce any undistributed income for 2022 (but not below zero).
2. The organization may use any part of or all remaining qualifying distributions for 2023 to satisfy elections. For example, if undistributed income remained for any year before 2022, it could be reduced to zero or, if the foundation wished, the distributions could be treated as distributions out of corpus.
3. If no elections are involved, apply the remaining qualifying distributions to the 2023 distributable amount on line 4d. If the remaining qualifying distributions are greater than the 2023 distributable amount, the excess is treated as a distribution out of corpus on line 4e.

If your foundation checked Item D2 in the Heading section on page 1, don't fill in this part.

Line 1 - Enter in this line the distributable amount for 2023 from Part X, line 7.

Line 2a - Enter here the distributable amount for 2022 and amounts for earlier years that remained undistributed at the beginning of the 2023 tax year.

Line 2b - Enter the amount of undistributed income for years before 2022.

Line 3 - If your foundation has made excess distributions out of corpus in prior years, which have yet to be applied in any year, enter the amount for each year.

However, don't enter an amount for a particular year if the organization was a private operating foundation for any later year.

Lines 3a through 3e - Enter the amount of any excess distribution made on the line for each year listed.

Don't include any amount that was applied against the distributable amount of an earlier year or that was already used to meet pass-through distribution requirements.

Lines 3f - Add lines 3a through e and enter the sum in this line. This amount can be applied in 2023.

Lines 4 - Enter the total amount of qualifying distributions made in 2023 from Part XI, line 4, on the line next to column (a). The total of the amounts applied on lines 4a through 4e is equal to the qualifying distributions made in 2023

Lines 4a - The qualifying distributions for 2023 are first used to reduce any undistributed income remaining from 2022.

Enter only enough of the 2023 qualifying distributions to reduce the 2022 undistributed income to zero.

Lines 4b and 4c - If there are any 2023 qualifying distributions remaining after reducing the 2022 undistributed income to zero, one or more elections can be made under Regulations section 53.4942(a)-3(d)(2) to apply all or part of the remaining qualifying distributions to any undistributed income remaining from years before 2022 or to apply to the corpus.

Where to enter.

• If the organization elected to apply all or part of the remaining amount to the undistributed income remaining from years before 2022 enter the amount on line 4b.
• If the organization elected to treat those qualifying distributions as a distribution out of corpus, enter the amount on line 4c.

Line 4d - In this line, enter only enough of the remaining 2023 qualifying distributions to reduce the 2023 distributable amount to zero.

Line 4e - Any 2023 qualifying distributions remaining after reducing the 2023 distributable amount to zero should be treated as an excess distribution out of corpus. This amount may be carried over and applied to later years.

Line 5 - Excess qualifying distributions carryover applied to 2023.

Enter any excess qualifying distributions from line 3, which were applied to 2023, in both the Corpus column and the 2023 column.

Apply the oldest excess qualifying distributions first. Thus, the organization will apply any excess qualifying distributions carried forward from 2018 before those from later years.

Line 6a - Add lines 3f, 4c, and 4e. Subtract line 5 from the total. Enter the net total in the Corpus column.

Line 6b - Prior years’ undistributed income. Subtract line 4b from line 2b and enter the amount in the Years before 2022 column.

Line 6c - Enter only the undistributed income from 2021 and prior years for which either a notice of deficiency under section 6212(a) has been mailed for the section 4942(a) first-tier tax, or on which the first-tier tax has been assessed because the organization filed a Form 4720 for a tax year that began before 2022.

Lines 6d and 6e - These amounts are taxable under the provisions of section 4942(a), except for any part that is due solely to improper valuation of assets to which the provisions of section 4942(a)(2) are being applied. Report the taxable amount on Form 4720. If the exception applies, attach an explanation.

Lines 6f - Subtract lines 4d and 5 from line 1 and enter the value in line 6f. This amount must be distributed in 2024

Lines 7 - Enter here the total distributions out of corpus made to satisfy the restrictions on amounts received from donors.

Line 8 - Outdated excess distributions carryover.

Because of the 5-year carryover limitation under section 4942(i)(2), the organization must reduce any excess distributions carryover by any amounts from 2018 that weren't applied in 2023.

Line 9 - Excess distributions carryover to 2023.

Enter the amount by which line 6a is more than the total of lines 7 and 8. This is the amount the organization may apply to in 2024 and the following years. Line 9 can never be less than zero.

Line 10 - Analysis of line 9.

In the space provided for each year, enter the amount of excess distributions carryover from that year that hasn't been applied as of the end of the 2023 tax year. If there is an amount on the line for 2019, it must be applied by the end of the 2024 tax year since the 5-year carryover period for 2019 ends in 2024.

Part XIII - Private Operating Foundations

All organizations that claim status as private operating foundations under section 4942(j)(3) or (5) for 2023 must complete this Part.

If your foundation is a section 4942(j)(5) organization, complete only lines 1a, 1b, 2c, 2d, 2e, and 3b. Enter “N/A” on all other lines in the Total column for Part XIII.

Lines 1a - If the foundation has received a ruling or determination letter that it is a private operating foundation, and the ruling is effective for 2023, enter the ruling date in this line.

Lines 1b - In this line, check the box to indicate whether the foundation is a private operating foundation described in section 4942(j)(3) or 4942(j)(5)

Lines 2a - Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for the current tax year and the prior 3 years.

Lines 2b - Calculate 85% (0.85) of the value from line 2a and enter those values in line 2b.

Lines 2c - Enter in this line the value of Qualifying distributions from Part XI, line 4, for each year listed.

Lines 2d - Enter here the amounts included in line 2c not used directly for the active conduct of exempt activities.

Lines 2e - Subtract line 2d from line 2c. These will be the qualifying distributions made directly for the active conduct of exempt activities.

Lines 3 - Complete lines 3a, b, or c for the alternative test relied upon. There a 3 such tests

1. Assets test. 65% or more of the foundation's assets are devoted directly to those activities or functionally related businesses, or both, or 65% or more of the foundation's assets are stock of a corporation that is controlled by the foundation, and substantially all of the assets of the corporation are devoted to those activities or functionally related businesses.
2. Endowment test. The foundation normally makes qualifying distributions directly for the active conduct of the exempt purpose or functions for which it is organized and operated in an amount that is two-thirds or more of its minimum investment return.
3. Support test. The foundation normally receives 85% or more of its support (other than gross investment income as defined in section 509(e)) from the public and from five or more exempt organizations that aren't described in section 4946(a)(1) (H) concerning each other or the recipient foundation. Not more than 25% of the support (other than gross investment income) normally may be received from any one of the exempt organizations and not more than one-half of the support normally may be received from gross investment income.

Part XIV Supplementary Information

The foundation must complete this part only if it has $5,000 or more in assets at any time during the year. This part doesn't apply to a foreign foundation that during its entire period of existence received substantially all (85% or more) of its support (other than gross investment income) from sources outside the United States.

Line 1 - Information Regarding Foundation Managers

Line 1a - List here the details of any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation before the close of any tax year (but only if they have contributed more than $5,000)

Line 1b - List here the details of any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the ownership of a partnership or other entity) in which the foundation has a 10% or greater interest.

Line 2 - Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs

If the foundation only contributes to preselected charitable organizations and doesn't accept unsolicited applications for funds, check the box on line 2 and complete items 2a, b, c, and d.

• Line 2a - The name, address, and telephone number or email address of the person to whom applications should be addressed.
• Line 2b - The form in which applications should be submitted and the information and materials they should include.
• Line 2c - Any submission deadlines
• Line 2d - Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors.

This information benefits the grant seeker and the foundation. The grant seekers will be aware of the grant eligibility requirements, and the foundation should receive only applications that adhere to these grant application requirements.

Line 3 - Grants and Contributions Paid During the Year or Approved for Future Payment

Line 3a - Paid during the year. List here all the contributions, grants, etc., actually paid during the year, including grants or contributions that aren't qualifying distributions under section 4942(g). Include current-year payments of set-asides treated as qualifying distributions in the current tax year or any prior year.

Line 3b - Approved for future payment. List here all contributions, grants, etc., approved during the year but not paid by the end of the year, including the unpaid portion of any current year set aside. Don't report contributions and grants approved or set aside in a prior tax year but still unpaid as of the end of the tax year.

How to file Form 990-PF?

You have two options to file your Form 990-PF return with the IRS - efficient e-filing or traditional paper filing.

Form 990-PF E-filing (recommended)

The IRS wants you to e-file! It's quicker, simpler, and more secure than paper filing. Plus, you get instant confirmation that your return is received, saving you time and stress.

Choose TaxZerone, an IRS-authorized e-file provider, to make your Form 990-PF e-filing process a breeze. Our user-friendly platform lets you complete your return in just a few clicks.

Focus on what matters most: Your foundation's mission. Let TaxZerone handle the Form 990-PF filing hassle. Get started today and experience a smooth, efficient filing process.

Paper filing

If you choose to paper-file Form 990, here are the steps you need to follow

• Obtain the Form: Download and print Form 990-PF from the IRS website.
• Complete Form: Fill out each section of Form 990-PF, providing accurate information about your foundation’s missions, programs, finances, and compliance with tax laws. Use the instructions provided by the IRS to guide you through the process.
• Attach Schedules if Necessary: Depending on your foundation’s activities and financial transactions, you may need to attach additional schedules or supporting documents to Form 990-PF
• Calculate and Include Payment: If your organization owes taxes based on the information provided on Form 990-PF, calculate the amount owed and include payment with the submission. Payments can be made by check or money order payable to the "United States Treasury."
• Sign and Date the Form: The form must be signed and dated by an authorized individual within the foundation, such as the president, treasurer, or another authorized officer.
• Mail the Form: Once completed, mail the signed Form 990-PF and any accompanying documents to the IRS mailing address.
• Keep Copies for Your Records: Make copies of the completed Form 990-PF and all supporting documents for your organization's records. These documents may be needed for future reference or in the event of an audit.

Where to send Form 990-PF?

If you choose paper filing, the mailing address for Form 990-PF depends on your foundation's location.

Send a paper copy of Form 990-PF to the mailing address mentioned below:

Department of the Treasury,

Internal Revenue Service Center,

Ogden, UT 84201-0027.

If your foundation’s principal business, office, or agency is located in a foreign country or a U.S. possession, mail the form to:

Internal Revenue Service Center,

P.O. Box 409101,

Ogden, UT 84409.

How to e-file Form 990-PF?

E-filing your Form 990-PF takes just 3 steps! To make it even faster, gather all the necessary information (like your foundation details, and program activities) before you start. That way, you can complete your entire 990-PF filing process in no time.

Information required to file Form 990-PF

Foundation's details, EIN, tax year, accounting method, and exempt status. Once you have this information ready, you can follow the steps below to e-file Form 990-PF using TaxZerone.

Step 1 - Enter the required information, such as your foundation’s details, EIN, tax year, accounting method, and exempt status.

Step 2 - Complete all the parts provided in the form and attach the required schedules.

Step 3 - Review the information you provided in the form, check and rectify the errors if any, and transmit the Form 990-PF return to the IRS.

File Your Form 990-PF Effortlessly with TaxZerone.

When you choose to e-file Form 990 with TaxZerone, you can enjoy benefits such as

• Seamless and Secure: TaxZerone takes the complexity out of filing your Form 990-PF. Our IRS-authorized service ensures a smooth and secure experience, so you can focus on what matters most.
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• Unparalleled Security: Your data is precious. TaxZerone utilizes industry-leading security protocols to keep your Form 990-PF return safe throughout the entire process.
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Start filing smarter today. Choose TaxZerone.