Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2001 Page 12
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30reportable in columns (a) and (c).
the contributors that meet these
line 2. That same figure is a part of
Expenses attributable to this charitable
requirements in the year of the change.
line 1.
activity were $1,900. Only $1,000 of
Line 3 — Interest on savings and
Substantiation requirements. An
expense should be reported in column (c)
temporary cash investments.
organization must keep records, required
and the remaining $900 in expense
by the regulations under section 170, for
In column (a), enter the total amount
should be reported in column (d).
all its charitable contributions.
of interest income from investments of the
Qualifying distributions. Generally,
type reportable in Balance Sheets, Part II,
Generally, a donor making a charitable
gifts and grants to organizations
line 2. These include savings or other
contribution of $250 or more will not be
described in section 501(c)(3), that have
interest-bearing accounts and temporary
allowed a Federal income tax deduction
been determined to be publicly supported
cash investments, such as money market
unless the donor obtains a written
charities (i.e., organizations that are not
funds, commercial paper, certificates of
acknowledgment from the donee
private foundations as defined in section
deposit, and U.S. Treasury bills or other
organization by the earlier of the date on
509(a)), are qualifying distributions only if
government obligations that mature in
which the donor files a tax return for the
the granting foundation does not control
less than 1 year.
tax year in which the contribution was
the public charity.
made or the due date, including
In column (b), enter the amount of
extensions, for filing that return. However,
interest income shown in column (a). Do
The total of the expenses and
see section 170(f)(8) and Regulations
not include interest on tax-exempt
TIP
disbursements on line 26 is also
section 1.170A-13 for exceptions to this
government obligations.
entered on line 1a in Part XII to
rule.
figure qualifying distributions.
In column (c), enter the amount of
The written acknowledgment the
interest income shown in column (a).
Alternative to completing lines 13 – 25.
foundation provides to the donor must
Include interest on tax-exempt
If you want to provide an analysis of
show:
government obligations.
disbursements that is more detailed than
1. The amount of cash contributed,
Line 4 — Dividends and interest from
column (d), you may attach a schedule
2. A description of any property
securities.
instead of completing lines 13 – 25. The
contributed,
schedule must include all the specific
In column (a), enter the amount of
3. Whether the foundation provided
items of lines 13 – 25, and the total from
dividend and interest income from
any goods or services to the donor, and
the schedule must be entered in column
securities (stocks and bonds) of the type
4. A description and a good-faith
(d), line 26.
reportable in Balance Sheets, Part II, line
estimate of the value of any goods or
10. Include amounts received from
Line Instructions
services the foundation gave in return for
payments on securities loans, as defined
the contribution, unless:
in section 512(a)(5). Do not include any
Line 1 — Contributions, gifts, grants,
a. The goods and services have
capital gain dividends reportable on line
etc., received. Enter the total of gross
insubstantial value, or
6. Report income from program-related
contributions, gifts, grants, and similar
b. A statement is included that these
investments on line 11. For debt
amounts received.
goods and services consist solely of
instruments with an original issue
Schedule B. If money, securities, or
intangible religious benefits.
discount, report the original issue
other property valued at $5,000 or more
discount ratably over the life of the bond
Generally, if a charitable organization
was received directly or indirectly from
on line 4. See section 1272 for more
solicits or receives a contribution of more
any one person during the year, complete
information.
than $75 for which it gives the donor
Schedule B and attach it to the return. If
In column (b), enter the amount of
something in return (a quid pro quo
the foundation is not required to complete
dividend and interest income, and
contribution), the organization must
Schedule B (no person contributed
payments on securities loans from
inform the donor, by written statement,
$5,000 or more), be sure to check the box
column (a). Do not include interest on
that the amount of the contribution
on line 1.
tax-exempt government obligations.
deductible for Federal income tax
To determine whether a person has
purposes is limited to the amount by
In column (c), enter the amount of
contributed $5,000 or more, total only
which the contribution exceeds the value
dividends and interest income, and
gifts of $1,000 or more from each person.
of the goods or services received by the
payments on securities loans from
Separate and independent gifts need not
donor. The written statement must also
column (a). Include interest on
be totaled if less than $1,000. If a
provide the donor with a good-faith
tax-exempt government obligations.
contribution is in the form of property,
estimate of the value of goods or services
Line 5a — Gross rents.
describe the property and include its fair
given in return for the contribution.
market value.
In column (a), enter the gross rental
Penalties. An organization that does
income for the year from investment
The term “person” includes individuals,
not make the required disclosure for each
property reportable on line 11 of Part II.
fiduciaries, partnerships, corporations,
quid pro quo contribution will incur a
In columns (b) and (c), enter the
associations, trusts, and exempt
penalty of $10 for each failure, not to
gross rental income from column (a).
organizations.
exceed $5,000 for a particular fundraising
Line 5b — Net rental income or (loss).
event or mailing, unless it can show
Split-interest trusts. Distributions
Figure the net rental income or (loss) for
reasonable cause for not providing the
from split-interest trusts should be
the year and enter that amount on the
disclosure.
entered on both line 1 of column (a) and
entry line to the left of column (a).
line 2 of column (b). They are a part of the
For more information. See
Report rents from other sources on
amount on line 1.
Regulations section 1.170A-13 for more
line 11, Other income. Enter any
information on charitable recordkeeping
Change in accounting method to
expenses attributable to the rental income
and substantiation requirements.
conform with SFAS 116. If the private
reported on line 5, such as interest and
foundation changed its accounting
Line 2 — Certain distributions from
depreciation, on lines 13 – 23.
method for tax purposes to conform with
“split-interest” trusts described in
Line 6a — Net gain or (loss) from sale
SFAS 116 and part or all of its net asset
section 4947(a)(2). The income portion
of assets. Enter the net gain or (loss) per
adjustment (section 481(a) adjustment)
of distributions from split-interest trusts
books from all asset sales not included on
represents contributions, then include on
that was earned on amounts placed in
line 10.
Schedule B any contributor of an amount
trust after May 26, 1969, is treated as
that is included in the adjustment and
investment income. Include only the
For assets sold and not included in
meets the requirements above. Report
income portion of these distributions on
Part IV, attach a schedule showing:
-12-
Form 990-PF Instructions
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