Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2001 Page 17
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30Line 26 — Permanently restricted.
line 16 for both the beginning and end of
type that generally produces interest,
Enter the total of the balances for the
the year.
dividends, rents, or royalties, even if the
permanently restricted class of net
foundation disposes of the property as
Part III—Analysis of
assets. Permanently restricted net assets
soon as it receives it.
are (a) assets, such as land or works of
Charitable use property. Do not include
Changes in Net Assets or
art, donated with stipulations that they be
any gain or loss from disposing of
used for a specified purpose, be
Fund Balances
property used for the foundation’s
preserved, and not be sold or (b) assets
charitable purposes in the computation of
Generally, the excess of revenue over
donated with stipulations that they be
tax on net investment income. If the
expenses accounts for the difference
invested to provide a permanent source
foundation uses property for its charitable
between the net assets at the beginning
of income. The latter result from gifts and
purposes, but also incidentally derives
and end of the year.
bequests that create permanent
income from the property that is subject to
On line 2, Part III, re-enter the figure
endowment funds.
the net investment income tax, any gain
from Part I, line 27(a), column (a).
Organizations that do not follow SFAS
or loss from the sale or other disposition
On lines 3 and 5, list any changes in
117. If the organization does not follow
of the property is not subject to the tax.
net assets that were not caused by the
SFAS 117, check the box above line 27
However, if the foundation uses
receipts or expenses shown in Part I,
and report account balances on lines 27
property both for charitable purposes and
through 29. Report net assets or fund
column (a). For example, if a foundation
(other than incidentally) for investment
follows FASB Statement No. 12 and
balances on line 30. Also complete line
purposes, include in the computation of
shows an asset in the ending balance
31 to report the sum of the total liabilities
tax on net investment income the part of
sheet at a higher value than in the
and net assets/fund balances.
the gain or loss from the sale or
beginning balance sheet because of an
Line 27 — Capital stock, trust principal,
disposition of the property that is allocable
increased market value (after a larger
or current funds. For corporations, enter
to the investment use of the property.
decrease in a prior year), include the
the balance per books for capital stock
Program-related investments. Do
increase in Part III, line 3.
accounts. Show par or stated value (or for
not include gains or losses from the sale
stock with no par or stated value, total
If an organization changes its
or exchange of program-related
amount received upon issuance) of all
accounting method for tax purposes to
investments as defined in the instructions
conform with the method provided in
classes of stock issued and, as yet,
for Part IX-B.
uncancelled. For trusts, enter the amount
SFAS 116, it should report any increase
Losses. If the disposition of investment
in the trust principal or corpus account.
required by section 481(a) on line 3 and
property results in a loss, that loss may
For organizations continuing to use the
identify the adjustment as the effect of
be subtracted from capital gains realized
fund method of accounting, enter the fund
changing to the methods provided in
from the disposition of property during the
balances for the organization’s current
SFAS 116.
same tax year but only to the extent of the
restricted and unrestricted funds.
If the organization uses a stepped-up
gains. If losses are more than gains, the
Line 28 — Paid-in or capital surplus, or
basis to determine gains on sales of
excess may not be subtracted from gross
land, bldg., and equipment fund. Enter
assets included in Part I, column (a), then
investment income, nor may the losses
the balance per books for all paid-in
include the amount of step-up in basis in
be carried back or forward to other tax
capital in excess of par or stated value for
Part III. If you entered a contribution, gift,
years.
all stock issued and uncancelled. If
or grant of property valued at fair market
Basis. The basis for determining gain
stockholders or others gave donations
value on line 25 of Part I, column (a), the
from the sale or other disposition of
that the organization records as paid-in
difference between fair market value and
property is the larger of:
capital, include them here. Report any
book value should be shown in the books
current-year donations you included on
of account and as a net asset adjustment
1. The fair market value of the
line 28 in Part I, line 1. The fund balance
property on December 31, 1969, plus or
in Part III.
for the land, building, and equipment fund
minus all adjustments after December 31,
Part IV—Capital Gains and
would be entered here.
1969, and before the date of disposition, if
the foundation held the property on that
Line 29 — Retained earnings,
Losses for Tax on
date and continuously after that date until
accumulated income, endowment, or
Investment Income
disposition or
other funds. For corporations, enter the
2. The basis of the property on the
balance in the retained earnings, or
Use Part IV to figure the amount of net
date of disposition under normal basis
similar account, minus the cost of any
capital gain to report on lines 7 and 8 of
rules (actual basis). See Code sections
corporate treasury stock. For trusts, enter
Part I.
1011 – 1021.
•
the balance per books in the accumulated
Part IV does not apply to foreign
income or similar account. For
The rules that generally apply to
organizations.
•
organizations using fund accounting,
property dispositions reported in this part
Nonoperating private foundations may
enter the total of the fund balances for the
are:
not have to figure their short-term capital
•
permanent and term endowment funds as
Section 1011, Adjusted basis for
gain or loss on line 3. See the rules for
well as balances of any other funds not
determining gain or loss.
Nonoperating private foundations on
•
reported on lines 27 and 28.
Section 1012, Basis of property — cost.
page 11.
•
Section 1014, Basis of property
Line 30 — Total net assets or fund
Private foundations must report gains
acquired from a decedent.
balances. For organizations that follow
and losses from the sale or other
•
Section 1015, Basis of property
SFAS 117, enter the total of lines 24
disposition of property:
•
acquired by gifts and transfers in trust.
through 26. For all other organizations,
Held for investment purposes or
•
•
Section 1016, Adjustments to basis.
Used to produce unrelated business
enter the total of lines 27 through 29.
To figure a loss, basis on the date of
Enter the beginning-of-year figure in
income; however, only include in net
disposition is determined under normal
column (a) on line 1, Part III. The
investment income the part of the gain or
basis rules.
loss that is not included in the
end-of-year figure in column (b) must
agree with the figure in Part III, line 6.
computation of its unrelated business
See Chapter IV of Pub. 578 for
taxable income.
Line 31 — Total liabilities and net
examples on how to determine gain or
assets/fund balances. Enter the total of
Property held for investment
loss. The completed Form 990-PF in
lines 23 and 30. This amount must equal
purposes. Property is treated as held for
Package 990-PF, Returns for Private
the amount for total assets reported on
investment purposes if the property is of a
Foundations or Section 4947(a)(1)
-17-
Form 990-PF Instructions
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