Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - Internal Revenue Service - 2010 Page 17
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32persons. Enter the unpaid balance of
of income. The latter result from gifts and
between the net assets at the beginning
loans received from officers, directors,
bequests that create permanent
and end of the year.
trustees, and other disqualified persons.
endowment funds.
On Part III, line 2, re-enter the figure
For loans outstanding at the end of the
Foundations that do not follow SFAS
from Part I, line 27(a), column (a).
year, attach a schedule that shows (for
117 (ASC 958). If the foundation does
On lines 3 and 5, list any changes in
each loan) the name and title of the
not follow SFAS 117 (ASC 958), check
net assets that were not caused by the
lender and the information listed in items
the box above line 27 and report account
receipts or expenses shown in Part I,
2 through 10 of the instructions for line 6
balances on lines 27 through 29. Report
column (a). For example, if a foundation
above.
net assets or fund balances on line 30.
follows SFAS 115 (ASC 320-10-35) and
Line 21. Mortgages and other notes
Also complete line 31 to report the sum of
shows an asset in the ending balance
payable. Enter the amount of mortgages
the total liabilities and net assets/fund
sheet at a higher value than in the
and other notes payable at the beginning
balances.
beginning balance sheet because of an
and end of the year. Attach a schedule
Line 27. Capital stock, trust principal,
increased market value (after a larger
showing, as of the end of the year, the
or current funds. For corporations,
decrease in a prior year), include the
total amount of all mortgages payable
enter the balance per books for capital
increase in Part III, line 3.
and, for each nonmortgage note payable,
stock accounts. Show par or stated value
the name of the lender and the other
If the organization uses a stepped-up
(or for stock with no par or stated value,
information specified in items 2 through
basis to determine gains on sales of
total amount received upon issuance) of
10 of the instructions for line 6. The
assets included in Part I, column (a), then
all classes of stock issued and, as yet,
schedule should also identify the
include the amount of step-up in basis in
uncanceled. For trusts, enter the amount
relationship of the lender to any officer,
Part III. If you entered a contribution, gift,
in the trust principal or corpus account.
director, trustee, foundation manager, or
or grant of property valued at fair market
For foundations continuing to use the
other disqualified person.
value in Part I, line 25, column (a), the
fund method of accounting, enter the fund
difference between fair market value and
Line 22. Other liabilities. List and show
balances for the foundation’s current
book value should be shown in the books
the amount of each liability not reportable
restricted and unrestricted funds.
of account and as a net asset adjustment
on lines 17 through 21. Attach a separate
Line 28. Paid-in or capital surplus, or
in Part III.
schedule if more space is needed.
land, building, and equipment fund.
Part IV. Capital Gains and
Lines 24 Through 31. Net
Enter the balance per books for all paid-in
capital in excess of par or stated value for
Assets or Fund Balances
Losses for Tax on
all stock issued and uncanceled. If
Foundations that follow SFAS 117
stockholders or others gave donations
Investment Income
(ASC 958). If the foundation follows
that the organization records as paid-in
Use Part IV to figure the amount of net
SFAS 117 (ASC 958), check the box
capital, include them here. Report any
capital gain to report on lines 7 and 8 of
above line 24. Classify and report net
current-year donations you included on
Part I.
assets in three groups — unrestricted,
line 28 in Part I, line 1. The fund balance
temporarily restricted, and permanently
for the land, building, and equipment fund
Part IV does not apply to foreign
restricted — based on the existence or
would be entered here.
organizations.
absence of donor-imposed restrictions
Line 29. Retained earnings,
Nonoperating private foundations may
and the nature of those restrictions. Show
accumulated income, endowment, or
not have to figure their short-term capital
the sum of the three classes of net assets
other funds. For corporations, enter the
gain or loss on line 3. See Nonoperating
on line 30. On line 31, add the amounts
balance in the retained earnings, or
private foundations on page 12.
on lines 23 and 30 to show total liabilities
similar account, minus the cost of any
and net assets. This figure should be the
Reportable gains and losses. Capital
corporate treasury stock. For trusts, enter
same as the figure for total assets on line
gains or losses include gains or losses
the balance per books in the accumulated
16.
from the sale or other disposition of
income or similar account. For
property that:
Line 24. Unrestricted. Enter the
foundations using fund accounting, enter
•
Is used for a charitable purpose,
balances per books of the unrestricted
the total of the fund balances for the
•
Is held for investment, or
class of net assets. Unrestricted net
permanent and term endowment funds as
•
Is used in the production of income. Do
assets are neither permanently restricted
well as balances of any other funds not
not include the gain or loss that is
nor temporarily restricted by
reported on lines 27 and 28.
included in figuring the foundation’s
donor-imposed stipulations. All funds
Line 30. Total net assets or fund
unrelated business taxable income.
without donor-imposed restrictions must
balances. For foundations that follow
be classified as unrestricted, regardless
However, do not include gains or
SFAS 117 (ASC 958), enter the total of
of the existence of any board
losses for any portion of property if:
lines 24 through 26. For all other
designations or appropriations.
•
The property was used for 1 year or
foundations, enter the total of lines 27
more in furthering the foundation’s
Line 25. Temporarily restricted. Enter
through 29. Enter the beginning-of-year
exempt purpose or function, and
the balances per books of the temporarily
figure in Part III, line 1. The end-of-year
•
Immediately following the use, is
restricted class of net assets. Donors’
figure in column (b) must agree with the
exchanged for property of like kind that is
temporary restrictions may require that
figure in Part III, line 6.
to be used primarily in furthering the
resources be used in a later period or
Line 31. Total liabilities and net assets/
foundation’s exempt purpose or function.
after a specified date (time restrictions),
fund balances. Enter the total of lines
Rules similar to the rules of section 1031
or that resources be used for a specified
23 and 30. This amount must equal the
purpose (purpose restrictions), or both.
relating to exchange of property held for
amount for total assets reported on line
productive use or investment apply. See
Line 26. Permanently restricted. Enter
16 for both the beginning and end of the
Gross Investment Income on page 11.
the total of the balances for the
year.
permanently restricted class of net
Basis. The basis for determining gain
assets. Permanently restricted net assets
from the sale or other disposition of
Part III. Analysis of
are (a) assets, such as land or works of
property is the larger of:
Changes in Net Assets or
•
art, donated with stipulations that they be
The fair market value of the property on
used for a specified purpose, be
December 31, 1969, plus or minus all
Fund Balances
preserved, and not be sold or (b) assets
adjustments after December 31, 1969,
donated with stipulations that they be
Generally, the excess of revenue over
and before the date of disposition, if the
invested to provide a permanent source
expenses accounts for the difference
foundation held the property on that date
-17-
Form 990-PF Instructions
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