Fill in a Valid IRS 990-PF Template

The IRS 990-PF form is an annual tax return that private foundations must file with the Internal Revenue Service. This form provides crucial details about the foundation's financial activities, grants, and compliance with tax regulations. Timely and accurate completion of this form is essential for maintaining a foundation's tax-exempt status.

Take action now to ensure your foundation remains compliant by filling out the form below.

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The IRS 990-PF form plays a crucial role in the accountability and transparency of private foundations in the United States. This form is an annual return required by the Internal Revenue Service for all private foundations, which are entities that typically operate to distribute funds for charitable purposes. The 990-PF allows these organizations to provide details about their financial activities, including contributions, grants awarded, and investment income. It also serves to inform the public and government entities about the foundation’s activities and compliance with tax regulations. By completing this form, foundations share vital information regarding their expenditures and philanthropic efforts, ensuring they fulfill their obligations to the communities they serve. Additionally, the wording within the form facilitates a comprehensive overview of a foundation’s operations, enabling stakeholders, including potential donors and researchers, to evaluate the impact of their contributions towards societal needs. In this context, the 990-PF becomes an essential tool for fostering trust and encouraging beneficial partnerships within the philanthropic sector.

IRS 990-PF Example

Form 990-PF

Department of the Treasury Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

▶Do not enter social security numbers on this form as it may be made public.

▶Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public Inspection

For calendar year 2020 or tax year beginning

, 2020, and ending

, 20

Name of foundation

Employer identification number

Number and street (or P.O. box number if mail is not delivered to street address)

Room/suite

Telephone number (see instructions)

City or town, state or province, country, and ZIP or foreign postal code

C If exemption application is pending, check here ▶

G Check all that apply:

Initial return

Initial return of a former public charity

1. Foreign organizations, check here .

. .

▶

Final return

Amended return

2. Foreign organizations meeting the 85% test,

Address change

Name change

check here and attach computation

. .

▶

H Check type of organization:

Section 501(c)(3) exempt private foundation

If private foundation status was terminated under

Section 4947(a)(1) nonexempt charitable trust

Other taxable private foundation

section 507(b)(1)(A), check here . .

. .

▶

I Fair market value of all assets at

J Accounting method:

Cash

Accrual

If the foundation is in a 60-month termination

end of year (from Part II, col. (c),

Other (specify)

under section 507(b)(1)(B), check here

. .

▶

line 16) ▶ $

(Part I, column (d), must be on cash basis.)

Part I

Analysis of Revenue and Expenses (The total of

(a) Revenue and

(b) Net investment

(d) Disbursements

amounts in columns (b), (c), and (d) may not necessarily equal

expenses per

for charitable

income

purposes

the amounts in column (a) (see instructions).)

books

(cash basis only)

Contributions, gifts, grants, etc., received (attach schedule)

Check ▶

if the foundation is not required to attach Sch. B

Interest on savings and temporary cash investments

Dividends and interest from securities . . . .

Gross rents

Net rental income or (loss)

Revenue

Net gain or (loss) from sale of assets not on line 10

Gross sales price for all assets on line 6a

Capital gain net income (from Part IV, line 2) . .

Net short-term capital gain

Income modifications

10a

Gross sales less returns and allowances

Less: Cost of goods sold . . .

Gross profit or (loss) (attach schedule) . . . .

Other income (attach schedule)

Total. Add lines 1 through 11

Expenses

Compensation of officers, directors, trustees, etc.

Other employee salaries and wages

Pension plans, employee benefits

16a

Legal fees (attach schedule)

Administrative

Accounting fees (attach schedule)

Other professional fees (attach schedule) . . .

Interest

Taxes (attach schedule) (see instructions) . . .

Depreciation (attach schedule) and depletion . .

Occupancy

and

Travel, conferences, and meetings

Printing and publications

Operating

Other expenses (attach schedule)

Total operating and administrative expenses.

Add lines 13 through 23

Contributions, gifts, grants paid

Total expenses and disbursements. Add lines 24 and 25

Subtract line 26 from line 12:

Excess of revenue over expenses and disbursements

Net investment income (if negative, enter -0-) .

Adjusted net income (if negative, enter -0-) . .

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X

Form 990-PF (2020)

Form 990-PF (2020)				Page 2
Part II	Balance Sheets Attached schedules and amounts in the description column	Beginning of year	End of year
	should be for end-of-year amounts only. (See instructions.)	(a) Book Value	(b) Book Value	(c) Fair Market Value

1	Cash—non-interest-bearing
2	Savings and temporary cash investments
3	Accounts receivable ▶
	Less: allowance for doubtful accounts ▶
4	Pledges receivable ▶
	Less: allowance for doubtful accounts ▶
5	Grants receivable

6Receivables due from officers, directors, trustees, and other

		disqualified persons (attach schedule) (see instructions) . .
	7	Other notes and loans receivable (attach schedule) ▶
		Less: allowance for doubtful accounts ▶
Assets	8	Inventories for sale or use
	9	Prepaid expenses and deferred charges
	10a	Investments—U.S. and state government obligations (attach schedule)

bInvestments—corporate stock (attach schedule) . . . . .

c	Investments—corporate bonds (attach schedule) . . . .
11	Investments—land, buildings, and equipment: basis ▶
	Less: accumulated depreciation (attach schedule) ▶

12Investments—mortgage loans . . . . . . . . . . .

13	Investments—other (attach schedule)
14	Land, buildings, and equipment: basis ▶
	Less: accumulated depreciation (attach schedule) ▶
15	Other assets (describe ▶	)

16Total assets (to be completed by all filers—see the

		instructions. Also, see page 1, item I)

	17	Accounts payable and accrued expenses
Liabilities	18	Grants payable
Liabilities	19	Deferred revenue
	19	Deferred revenue
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule) . . .
	22	Other liabilities (describe ▶	)
	23	Total liabilities (add lines 17 through 22)
Balances	25	Foundations that follow FASB ASC 958, check here	▶
Balances	25	Net assets with donor restrictions
		and complete lines 24, 25, 29, and 30.
	24	Net assets without donor restrictions
Fund		Foundations that do not follow FASB ASC 958, check here ▶
		Foundations that do not follow FASB ASC 958, check here ▶
		and complete lines 26 through 30.
or	26	Capital stock, trust principal, or current funds
or	27	Paid-in or capital surplus, or land, bldg., and equipment fund
Assets	27
Assets	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions) . . .
Net	30	Total liabilities and net assets/fund balances (see
Net		instructions)
Part III		Analysis of Changes in Net Assets or Fund Balances

1Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with

	end-of-year figure reported on prior year’s return)	1
2	Enter amount from Part I, line 27a	2
3	Other increases not included in line 2 (itemize) ▶	3
4	Add lines 1, 2, and 3	4
5	Decreases not included in line 2 (itemize) ▶	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 . .	6

Form 990-PF (2020)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (for example, real estate,

(b) How acquired

(d) Date sold

P—Purchase

2-story brick warehouse; or common stock, 200 shs. MLC Co.)

(mo., day, yr.)

D—Donation

(e) Gross sales price

(f) Depreciation allowed

(g) Cost or other basis

(h) Gain or (loss)

(or allowable)

plus expense of sale

((e) plus (f) minus (g))

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69.

(l) Gains (Col. (h) gain minus

(i) FMV as of 12/31/69

(j) Adjusted basis

(k) Excess of col. (i)

col. (k), but not less than -0-) or

Losses (from col. (h))

as of 12/31/69

over col. (j), if any

Capital gain net income or (net capital loss) {

If gain, also enter in Part I, line 7

}

If (loss), enter -0- in Part I, line 7

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

}

If gain, also enter in Part I, line 8, column (c). See instructions. If (loss), enter -0- in

Part I, line 8

. . . . . . .

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 – DO NOT COMPLETE.

Reserved

(a)

(b)

(c)

(d)

Reserved

. . . . . . . . .

Reserved

. . . . . . . . .

Reserved

. . . . . . . . .

Reserved

. . . . . . . . .

Reserved

. . . . . . . . .

Reserved

. . . . . . . . .

Reserved

. . . . . . . . .

Form 990-PF (2020)


Form 990-PF (2020)						Page 4
Part VI	Excise Tax Based on Investment Income (Section 4940(a), 4940(b), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here ▶			and enter “N/A” on line 1.	}
			and enter “N/A” on line 1.
Date of ruling or determination letter:		(attach copy of letter if necessary—see instructions)
b Reserved		. . . . . . . . . .	. . . . . . . . .		1

cAll other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations, enter 4% of

	Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only; others, enter -0-)	2
3	Add lines 1 and 2	3
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only; others, enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0-	5

6Credits/Payments:

2020 estimated tax payments and 2019 overpayment credited to 2020 . .

Exempt foreign organizations—tax withheld at source

Tax paid with application for extension of time to file (Form 8868) . . . .

Backup withholding erroneously withheld

Total credits and payments. Add lines 6a through 6d

. . . . . . . .

Enter any penalty for underpayment of estimated tax. Check here

if Form 2220 is attached

Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed

. . . . . . . ▶

Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid . . .

▶

Enter the amount of line 10 to be: Credited to 2021 estimated tax ▶

Refunded

▶

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it

Yes No

participate or intervene in any political campaign?

. . . . . . . . .

bDid it spend more than $100 during the year (either directly or indirectly) for political purposes? See the


instructions for the definition		1b
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.
c Did the foundation file Form 1120-POL for this year?		1c
d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. ▶ $	(2) On foundation managers. ▶ $

eEnter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. ▶ $
2 Has the foundation engaged in any activities that have not previously been reported to the IRS? . . . .			2
If “Yes,” attach a detailed description of the activities.

3Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

	of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes .	3
4a	Did the foundation have unrelated business gross income of $1,000 or more during the year?	4a
b	If “Yes,” has it filed a tax return on Form 990-T for this year?	4b
5	Was there a liquidation, termination, dissolution, or substantial contraction during the year?	5
	If “Yes,” attach the statement required by General Instruction T.

6Are 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?	6
7	Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV	7
8a	Enter the states to which the foundation reports or with which it is registered. See instructions. ▶

bIf the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General

(or designate) of each state as required by General Instruction G? If “No,” attach explanation

9Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2020 or the tax year beginning in 2020? See the instructions for Part XIV. If “Yes,”

complete Part XIV

10Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their

names and addresses	10
	Form 990-PF (2020)

Form 990-PF (2020)		Page 5
Part VII-A		Statements Regarding Activities (continued)

11At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If “Yes,” attach schedule. See instructions . . . . . . . . . . .

12Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified

person had advisory privileges? If “Yes,” attach statement. See instructions . . . . . . . . . . .

13Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Website address ▶
14 The books are in care of ▶	Telephone no. ▶
Located at ▶	ZIP+4 ▶

Yes No

15Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041—check here . . . . . . . ▶

and enter the amount of tax-exempt interest received or accrued during the year . . . . . ▶	15
16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other	authority		Yes No
over a bank, securities, or other financial account in a foreign country?
		16
See the instructions for exceptions and filing requirements for FinCEN Form 114. If “Yes,” enter the name of
the foreign country ▶

Part VII-B	Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.				Yes No
1a During the year, did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? . .		Yes	No

(2)Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a

	disqualified person?	Yes	No
(3)	Furnish goods, services, or facilities to (or accept them from) a disqualified person? . .	Yes	No
(4)	Pay compensation to, or pay or reimburse the expenses of, a disqualified person? . .	Yes	No

(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)?

Yes

(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.) . . .	. . .	. .	Yes	No

bIf any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in

Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions	.	1b
Organizations relying on a current notice regarding disaster assistance, check here	▶

cDid the foundation engage 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 2020?

2Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

aAt the end of tax year 2020, did the foundation have any undistributed income (Part XIII, lines

6d and 6e) for tax year(s) beginning before 2020?				. . . . . . . . . . . . . .	Yes	No
If “Yes,” list the years ▶	20	, 20	, 20	, 20

bAre there 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 applying section 4942(a)(2) to

all years listed, answer “No” and attach statement—see instructions.)

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

▶ 20	, 20	, 20	, 20
3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise
at any time during the year? .			. . . . . . . . . . . . . . . . . . . . .	Yes	No

bIf “Yes,” did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) 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 2020.)	3b
4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?	4a

bDid the foundation make 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 2020? 4b

Form 990-PF (2020)

Form 990-PF (2020)		Page 6
Part VII-B		Statements Regarding Activities for Which Form 4720 May Be Required (continued)

5a During the year, did the foundation pay or incur any amount to:				Yes No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? .	Yes	No

(2)Influence the outcome of any specific public election (see section 4955); or to carry on,

directly or indirectly, any voter registration drive?	Yes	No
(3) Provide a grant to an individual for travel, study, or other similar purposes?	Yes	No

(4)Provide a grant to an organization other than a charitable, etc., organization described in

section 4945(d)(4)(A)? See instructions

Yes

(5)Provide for any purpose other than religious, charitable, scientific, literary, or educational

purposes, or for the prevention of cruelty to children or animals?

Yes

bIf any answer is “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? See instructions .		.	5b
	Organizations relying on a current notice regarding disaster assistance, check here		▶
c	If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the tax
	because it maintained expenditure responsibility for the grant?	Yes	No
	If “Yes,” attach the statement required by Regulations section 53.4945-5(d).
6a	Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums
	on a personal benefit contract?	Yes	No
b Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?			.	6b
	If “Yes” to 6b, file Form 8870.
7a	At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?	Yes	No
b If “Yes,” did the foundation receive any proceeds or have any net income attributable to the transaction?			.	7b

8Is the foundation 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?		Yes	No
Part VIII	Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
	and Contractors

1 List all officers, directors, trustees, and foundation managers and their compensation. See instructions.

(a)Name and address

(b)Title, and average hours per week

devoted to position

(c)Compensation

(If not paid,

enter -0-)

(d)Contributions to employee benefit plans

and deferred compensation

(e)Expense account, other allowances

2Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE.”

(a)Name and address of each employee paid more than $50,000

(b)Title, and average hours per week

devoted to position

(c)Compensation

(d)Contributions to employee benefit

plans and deferred

compensation

(e)Expense account, other allowances

Total number of other employees paid over $50,000 . . . . . . . . . . . . . . . . . . . . ▶

Form 990-PF (2020)

Form 990-PF (2020)		Page 7
Part VIII	Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
	and Contractors (continued)

3 Five highest-paid independent contractors for professional services. See instructions. If none, enter “NONE.”

(a)Name and address of each person paid more than $50,000

(b)Type of service

(c)Compensation

Total number of others receiving over $50,000 for professional services		.	. .	.	. ▶
Part IX-A	Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of						Expenses
organizations and other beneficiaries served, conferences convened, research papers produced, etc.						Expenses


1
2
2
3
3
4
4

Part IX-B	Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.						Amount

1
2
2

All other program-related investments. See instructions.
3

Total. Add lines 1 through 3		.	. .	.	. ▶

Form 990-PF (2020)

Form 990-PF (2020)		Page 8
Part X	Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
	see instructions.)

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

a	Average monthly fair market value of securities	1a
b	Average of monthly cash balances	1b
c	Fair market value of all other assets (see instructions)	1c
d	Total (add lines 1a, b, and c)	1d

eReduction claimed for blockage or other factors reported on lines 1a and

	1c (attach detailed explanation)	1e
2	Acquisition indebtedness applicable to line 1 assets	. . . . . . .	2
3	Subtract line 2 from line 1d	. . . . . . .	3

4Cash deemed held for charitable activities. Enter 11/2% of line 3 (for greater amount, see

	instructions)			4
5	Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4			5
6	Minimum investment return. Enter 5% of line 5			6
Part XI		Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations
		and certain foreign organizations, check here ▶	and do not complete this part.)

1	Minimum investment return from Part X, line 6
2a	Tax on investment income for 2020 from Part VI, line 5	2a
b	Income tax for 2020. (This does not include the tax from Part VI.) . . .	2b
c	Add lines 2a and 2b
3	Distributable amount before adjustments. Subtract line 2c from line 1
4	Recoveries of amounts treated as qualifying distributions
5	Add lines 3 and 4
6	Deduction from distributable amount (see instructions)

7Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part XII Qualifying Distributions (see instructions)

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

a	Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26
b	Program-related investments—total from Part IX-B

2Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3Amounts set aside for specific charitable projects that satisfy the:

a	Suitability test (prior IRS approval required)
b	Cash distribution test (attach the required schedule)

4Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8; and Part XIII, line 4

5Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment income.

	Enter 1% of Part I, line 27b. See instructions
6	Adjusted qualifying distributions. Subtract line 5 from line 4

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax in those years.

Form 990-PF (2020)

Form 990-PF (2020)				Page 9
Part XIII	Undistributed Income (see instructions)
	(a)	(b)	(c)	(d)
	Corpus	Years prior to 2019	2019	2020

1Distributable amount for 2020 from Part XI,

line 7 . . . . . . . . . . . . .

2 Undistributed income, if any, as of the end of 2020:

a	Enter amount for 2019 only
b	Total for prior years: 20	, 20	, 20

3 Excess distributions carryover, if any, to 2020:

a	From 2015
b	From 2016
c	From 2017
d	From 2018
e	From 2019
f	Total of lines 3a through e

4Qualifying distributions for 2020 from Part XII, line 4: ▶ $

a Applied to 2019, but not more than line 2a .

bApplied to undistributed income of prior years (Election required—see instructions) . . .

cTreated as distributions out of corpus (Election

required—see instructions) . . . . . .

d Applied to 2020 distributable amount . . e Remaining amount distributed out of corpus

5Excess distributions carryover applied to 2020 (If an amount appears in column (d), the same

amount must be shown in column (a).) . .

6Enter the net total of each column as indicated below:

a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5

bPrior years’ undistributed income. Subtract

line 4b from line 2b . . . . . . . .

cEnter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed . . . .

dSubtract line 6c from line 6b. Taxable

amount—see instructions . . . . . .

eUndistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see

instructions . . . . . . . . . . .

fUndistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be

distributed in 2021 . . . . . . . . .

7Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be

required—see instructions) . . . . . .

8Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) .

9Excess distributions carryover to 2021.

	Subtract lines 7 and 8 from line 6a . . .
10 Analysis of line 9:
a	Excess from 2016 . . . .
b	Excess from 2017 . . . .
c	Excess from 2018 . . . .
d	Excess from 2019 . . . .
e	Excess from 2020 . . . .

Form 990-PF (2020)


Form 990-PF (2020)							Page 10
Part XIV		Private Operating Foundations (see instructions and Part VII-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
	foundation, and the ruling is effective for 2020, enter the date of the ruling .				. . . . . ▶

b Check box to indicate whether the foundation is a private operating foundation described in section						4942(j)(3) or	4942(j)(5)
2a	Enter the lesser of the adjusted net		Tax year		Prior 3 years		(e) Total
	income from Part I or the minimum
	income from Part I or the minimum		(a) 2020	(b) 2019	(c) 2018	(d) 2017
	investment return from Part X for		(a) 2020	(b) 2019	(c) 2018	(d) 2017
	investment return from Part X for
	each year listed
b	85% of line 2a

cQualifying distributions from Part XII, line 4, for each year listed . . . .

dAmounts included in line 2c not used directly for active conduct of exempt activities . .

eQualifying distributions made directly for active conduct of exempt activities.

Subtract line 2d from line 2c . . .

3Complete 3a, b, or c for the alternative test relied upon:

a“Assets” alternative test—enter:

(1) Value of all assets . . . . .

(2)Value of assets qualifying under

section 4942(j)(3)(B)(i) . . . .

b“Endowment” alternative test—enter 2/3 of minimum investment return shown in

Part X, line 6, for each year listed

. .

c“Support” alternative test—enter:

(1)Total support other than gross investment income (interest, dividends, rents, payments on

securities loans (section 512(a)(5)), or royalties) . . . .

(2)Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) . . . .

(3)Largest amount of support from

an exempt organization . . .

(4)Gross investment income . . .

Part XV	Supplementary Information (Complete this part only if the foundation had $5,000 or more in assets at
	any time during the year—see instructions.)

1 Information Regarding Foundation Managers:

aList 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). (See section 507(d)(2).)

bList 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) of which the foundation has a 10% or greater interest.

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

Check here ▶ if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. If the foundation makes gifts, grants, etc., to individuals or organizations under other conditions, complete items 2a, b, c, and d. See instructions.

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors:

Form 990-PF (2020)

Click for IRS 990-PF File

File Breakdown

Fact Name	Description
Purpose	The IRS Form 990-PF is used by private foundations to report financial information, activities, and investments.
Filing Frequency	Private foundations must file Form 990-PF annually, regardless of income.
Due Date	The form is due on the 15th day of the 5th month after the end of the foundation's tax year.
Public Disclosure	Form 990-PF is a public document. Anyone can access it to learn about a foundation's finances and grant-making activities.
State Requirements	Many states require additional forms or documents alongside the federal Form 990-PF. Each state has its governing laws regarding nonprofit reporting.
Minimum Distribution Requirement	Private foundations are generally required to distribute at least 5% of their assets annually to qualify for tax-exempt status.
Schedule B Information	Information about major donors to the foundation is reported on Schedule B, which is included with Form 990-PF.
Penalties for Non-filing	Foundations that fail to file the Form 990-PF on time may incur penalties and risk losing their tax-exempt status.

Guide to Using IRS 990-PF

When it comes to managing a private foundation’s tax obligations, completing the IRS Form 990-PF is an essential task. This form requires careful attention to detail, as inaccuracies can lead to penalties or delays in processing. Below are the steps to help you accurately fill out this important form.

Gather required information, including the foundation's legal name, address, and Employer Identification Number (EIN).
Determine the tax year for which you are filing. Use the beginning and ending dates for the foundation’s fiscal year.
Start filling out Part I, which includes basic information about the foundation. Include the name and address, as well as the governing documents.
Move on to Part II to report the foundation’s revenue activities. Include any contributions, investment income, and grants made during the year.
Next, complete Part III by detailing the foundation's expenses. This section covers all qualifying distributions, administrative expenses, and other operational costs.
In Part IV, provide information on the foundation’s assets. List property, investments, and any other assets held by the foundation.
Fill out Part V, which focuses on the foundation's internal management practices. Address issues such as corporate governance and investment policies.
If applicable, complete Part VI concerning any amendments made to the foundation's bylaws or governing documents during the tax year.
Finally, review all completed sections for accuracy. Ensure all calculations are correct and that there are no missing signatures or dates.
Once everything is verified, submit the form to the Internal Revenue Service, typically by the 15th day of the 5th month after the end of your fiscal year.

Get Answers on IRS 990-PF

What is the IRS Form 990-PF?

The IRS Form 990-PF is an important tax document specifically designed for private foundations. It provides the Internal Revenue Service (IRS) with insight into the foundation's operations, financial activities, and compliance with applicable regulations. This form must be filed annually by private foundations to report details such as income, expenses, grants awarded, and investment activities. Essentially, it helps ensure transparency and accountability in how private foundations manage their funds.

Who needs to file Form 990-PF?

Any private foundation in the United States is required to file Form 990-PF. This includes foundations that are classified as such under IRS regulations. Regardless of the size or scope of the foundation, filing this form is mandatory. If a private foundation fails to file, it could face penalties, including the loss of tax-exempt status. It's always a good idea for foundations to keep track of their filing requirements to avoid any complications.

What information is included in Form 990-PF?

The form covers various aspects of a private foundation's operations and financial situation. Key sections typically include:

Basic information about the foundation, such as its name, address, and employer identification number (EIN).
Financial statements detailing assets, liabilities, revenue, and expenses.
A breakdown of grants made to charitable organizations or individuals during the year.
Information about investments held by the foundation.
Details regarding the foundation's governing body and any changes to its structure.

This information helps the IRS monitor compliance and ensure that foundations are utilizing their resources for charitable purposes.

What are the deadlines for filing Form 990-PF?

The deadline for filing Form 990-PF is typically the 15th day of the 5th month after the end of the foundation's fiscal year. For many private foundations, this means the form is due on May 15th if their fiscal year aligns with the calendar year. If the due date falls on a weekend or holiday, the deadline is extended to the next business day. Foundations can request an automatic 6-month extension, but it’s crucial to understand that this extension only allows for additional time to file and does not extend the time for paying any taxes due.

Common mistakes

Filing the IRS 990-PF form can be a complex process, and mistakes can lead to delays or complications. One common mistake is failing to complete all sections of the form. Each section is important and provides necessary information. Missing data may raise questions or trigger an audit.

Another frequent error is incorrect numerical calculations. Individuals often miscalculate either income or expenses. Double-checking figures can prevent discrepancies that may lead to further scrutiny from the IRS.

Many people overlook the requirement to report donations accurately. Failure to disclose contributions can result in penalties. It is essential to keep thorough records of all donations and ensure they are accurately reflected on the form.

Omitting supporting schedules is another mistake that filers make. The IRS often requires additional schedules to provide a complete picture of financial activities. Neglecting to include these can lead to incomplete filings, triggering inquiries from the IRS.

Lastly, some filers forget to sign and date the form. An unsigned form is typically considered invalid. All signatures should be obtained before submitting to avoid unnecessary delays in processing.

Attention to detail is vital in filling out the IRS 990-PF form. Reviewing the application thoroughly before submission helps ensure compliance. Understanding the importance of each section and attachment can save time and avoid complications down the road.

Documents used along the form

The IRS Form 990-PF, which is filed by private foundations, serves as an essential document that allows foundations to report their financial status and activities to the Internal Revenue Service. However, it is not an isolated document. Other forms and documents often accompany the 990-PF, each serving a specific purpose in the broader context of charitable giving and regulation. Understanding these additional forms can provide more clarity about the financial landscape of private foundations and their compliance obligations.

Schedule A: This schedule provides additional details on the foundation's public charity status and the contributions it made to other charities during the reporting year. It strengthens transparency by outlining the foundation's tax-exempt status.
Schedule B: Used to report significant contributors, this schedule identifies individuals or organizations that donated over a specified amount to the foundation. It protects donor privacy while ensuring compliance with reporting requirements.
Schedule D: This schedule supplements the information provided in the 990-PF by detailing net asset values and ensuring proper accounting practices. It provides insight into the foundation's investments and reserves.
Form 8282: When private foundations sell or dispose of donated property, they must file this form. This ensures that the original donor's charitable deduction is properly accounted for.
Form 990-T: If a foundation has unrelated business income, this form is necessary. It helps report income from activities that are not substantially related to its exempt purpose, thereby ensuring tax compliance.
Form 1023: Although primarily for obtaining tax-exempt status, this application provides insights into the foundation's structure and proposed activities. It is the foundational document that outlines the mission and operations of the organization.
Form 1024: This application form is used by certain organizations to apply for recognition of exemption under 501(c)(4), which occasionally intersects with private foundations, especially in matters of social welfare.
Annual Reports: While not a required document, many private foundations produce annual reports detailing accomplishments, grantmaking, and financial status. This promotes transparency and can enhance community trust.
Grant Agreements: When foundations award grants, these agreements outline the terms, conditions, and reporting requirements related to the grant. They are essential for maintaining accountability and fostering good relationships with grantees.
State Filings: Depending on the state, private foundations may need to file additional documents with state regulators. These filings are necessary for maintaining good standing within the jurisdiction where the foundation operates.

Incorporating these various forms and documents into the filing process can help private foundations comply with regulations and uphold their commitment to transparency. Each document serves its unique role, ensuring that foundations remain accountable to both federal authorities and the public they aim to serve.

Similar forms

IRS Form 990: Similar to the 990-PF, this form is used by tax-exempt organizations to report their financial information to the IRS. However, Form 990 is primarily for public charities, while the 990-PF is designated for private foundations.
IRS Form 990-EZ: This shorter version of Form 990 can be filed by smaller tax-exempt organizations with less complex financial activities. Like the 990-PF, it requires organizations to provide income and expense information, but it is tailored for those that don’t meet the larger reporting requirements.
IRS Form 1023: Nonprofit organizations wanting to apply for tax-exempt status use this form. Similar to the 990-PF, it requires detailed information about the organization’s purpose and activities, but it’s for newly established organizations rather than for ongoing reporting.
IRS Form 990-N: Also known as the e-Postcard, this is for small tax-exempt organizations that earn below a certain threshold. While it involves minimal reporting, it shares the goal of maintaining transparency and accountability, much like the 990-PF, but it is significantly simpler.
IRS Form 990-T: This form is used by tax-exempt organizations to report unrelated business income, which may be subject to tax. Like the 990-PF, it ensures that foundations disclose their financial activities, although it focuses on a specific income type.

Dos and Don'ts

When completing the IRS 990-PF form, it is essential to follow best practices to ensure accuracy and compliance. Here are some key do's and don'ts to guide you through the process.

Do verify all organizational information before submission.
Do review instructions carefully for each section of the form.
Don't leave blank spaces; provide information where it is required.
Don't neglect to seek professional assistance if needed to avoid mistakes.

Misconceptions

Misconception 1: The IRS 990-PF form is only for private foundations.

While the IRS 990-PF form is specifically designed for private foundations, it’s a common myth that only they need to file it. Other organizations operating as private foundations, such as charitable trusts that meet certain criteria, must also complete this form.
Misconception 2: Filing the IRS 990-PF is optional for private foundations.

This is not accurate. Private foundations are required to file the 990-PF form annually. Failure to do so can lead to penalties and issues with maintaining tax-exempt status.
Misconception 3: The IRS 990-PF form is too complicated for small foundations to file.

While the form does require specific information regarding assets and grants, it’s structured to be accessible. Many small foundations successfully complete this form, often with help from online resources or accounting professionals.
Misconception 4: All information on the IRS 990-PF is confidential.

This is misleading. Most of the information on the 990-PF form is public record, meaning that anyone can access it. This transparency is intended to promote accountability within charitable organizations.

Key takeaways

Filling out the IRS 990-PF form is essential for private foundations. Here are some key takeaways to help you navigate the process:

Understand Your Foundation's Requirements: Determine if your foundation qualifies as a private foundation to ensure that you need to file this form.
Accurate Financial Reporting: Report your foundation’s financial activities clearly. Include details about revenue, expenses, and grants.
Distributions Matter: Be aware of the minimum distribution requirements. Private foundations must distribute a certain percentage of their assets annually.
Transparency is Key: The form is publicly accessible. Therefore, make sure it reflects your organization's financial health and activities accurately.
File on Time: Ensure timely filing to avoid penalties. The deadline is generally the 15th day of the 5th month after the end of your foundation's tax year.

By following these guidelines, you can effectively manage your foundation's tax obligations while contributing to transparency and accountability in your philanthropic efforts.