Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2001 Page 4
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30penalties for understatements due to
charitable solicitation acts, note the
G. Furnishing Copies of
unrealistic positions or for willful or
following:
Form 990-PF to State
reckless conduct.
Determine state filing requirements.
Officials
Form 8275-R, Regulation Disclosure
Consult the appropriate officials of all
Statement. Use this form to disclose any
states and other jurisdictions in which the
The foundation managers must furnish a
item on a tax return for which a position
organization does business to determine
copy of the annual return Form 990-PF
has been taken that is contrary to
their specific filing requirements. “Doing
(and Form 4720 (if applicable)) to the
Treasury regulations.
business” in a jurisdiction may include
attorney general of:
Form 8300, Report of Cash Payments
any of the following:
1. Each state required to be listed in
•
Over $10,000 Received in a Trade or
Soliciting contributions or grants by
Part VII-A, line 8a,
Business. Used to report cash amounts in
mail or otherwise from individuals,
2. The state in which the foundation’s
excess of $10,000 that were received in a
businesses, or other charitable
principal office is located, and
single transaction (or in two or more
organizations,
3. The state in which the foundation
•
related transactions) in the course of a
Conducting programs,
was incorporated or created.
•
trade or business (as defined in
Having employees within that
A copy of the annual return must be
section 162).
jurisdiction, or
•
sent to the attorney general at the same
Maintaining a checking account or
Form 8718, User Fee for Exempt
time the annual return is filed with the
owning or renting property there.
Organization Determination Letter
IRS.
Request. Used by a private foundation
Monetary tests may differ. Some or all
Other requirements. If the attorney
that has completed a section 507
of the dollar limitations that apply to Form
general or other appropriate state official
termination and seeks a determination
990-PF when filed with the IRS may not
of any state requests a copy of the annual
letter that it is now a public charity.
apply when using Form 990-PF instead of
return, the foundation managers must
Form 8822, Change of Address.
state or local report forms. IRS dollar
give them a copy of the annual return.
Form 8868, Application for Extension of
limitations that may not meet some state
Exceptions. These rules do not apply to
Time To File an Exempt Organization
requirements are the $5,000 total assets
any foreign foundation which, from the
Return.
minimum that requires completion of Part
date of its creation, has received at least
II, column (c), and Part XV; and the
Form 8870, Information Return for
85% of its support (excluding gross
$50,000 minimum for listing the highest
Transfers Associated With Certain
investment income) from sources outside
paid employees and for listing
Personal Benefit Contracts. Used to
the United States. (See Exceptions in
professional fees in Part VIII.
identify those personal benefit contracts
General Instruction Q for other exceptions
for which funds were transferred to the
Additional information may be
that affect this type of organization.)
organization, directly or indirectly, as well
required. State and local filing
Coordination with state reporting
as the transferors and beneficiaries of
requirements may require attaching to
requirements. If the foundation
those contracts.
Form 990-PF one or more of the
managers submit a copy of Form 990-PF
following:
and Form 4720 (if applicable) to a state
E. Useful Publications
•
Additional financial statements, such as
attorney general to satisfy a state
The following publications may be helpful
a complete analysis of functional
reporting requirement, they do not have to
in preparing Form 990-PF:
expenses or a statement of changes in
furnish a second copy to that attorney
net assets,
Publication 525, Taxable and
general to comply with the Internal
•
Notes to financial statements,
Nontaxable Income.
Revenue Code requirements discussed in
•
Additional financial schedules,
this section.
Publication 578, Tax Information for
•
A report on the financial statements by
Private Foundations and Foundation
If there is a state reporting requirement
an independent accountant, and
Managers.
to file a copy of Form 990-PF with a state
•
Answers to additional questions and
official other than the attorney general
Publication 583, Starting a Business
other information.
(such as the secretary of state), then the
and Keeping Records.
Each jurisdiction may require the
foundation managers must also send a
Publication 598, Tax on Unrelated
additional material to be presented on
copy of the Form 990-PF and Form 4720
Business Income of Exempt
forms they provide. The additional
(if applicable) to the attorney general of
Organizations.
information does not have to be submitted
that state.
with the Form 990-PF filed with the IRS.
Publication 910, Guide to Free Tax
Services.
H. Accounting Period
If required information is not provided
Publication 1391, Deductibility of
to a state, the organization may be asked
1. File the 2001 return for the
Payments Made to Charities Conducting
by the state to provide it or to submit an
calendar year 2001 or fiscal year
Fund-Raising Events.
amended return, even if the Form 990-PF
beginning in 2001. If the return is for a
Publications and forms are available at
is accepted by the IRS as complete.
fiscal year, fill in the tax year space at the
no charge through IRS offices or by
top of the return.
Amended returns. If the organization
calling 1-800-TAX-FORM
2. The return must be filed on the
submits supplemental information or files
(1-800-829-3676).
basis of the established annual
an amended Form 990-PF with the IRS, it
accounting period of the organization. If
must also include a copy of the
F. Use of Form 990-PF To
the organization has no established
information or amended return to any
accounting period, the return should be
Satisfy State Reporting
state with which it filed a copy of Form
on the calendar-year basis.
990-PF.
Requirements
3. For initial or final returns or a
Method of accounting. Many states
change in accounting period, the 2001
Some states and local government units
require that all amounts be reported
form may also be used as the return for a
will accept a copy of Form 990-PF and
based on the accrual method of
short period (less than 12 months) ending
required attachments instead of all or part
accounting.
November 30, 2002, or earlier.
of their own financial report forms.
If the organization plans to use Form
Time for filing may differ. The time for
In general, to change its accounting
990-PF to satisfy state or local filing
filing Form 990-PF with the IRS may differ
period the organization must file Form
requirements, such as those from state
from the time for filing state reports.
990-PF by the due date for the short
-4-
Form 990-PF Instructions
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