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 20
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32Attached schedule for transfers from
Each contribution or bequest must be
Enter the foundation’s website address
controlled entities. If at any time during
valued at fair market value on the date it
if the foundation has a website.
the tax year, the foundation received any
was received.
Otherwise, enter “N/A.”
transfers of funds or payments from a
Line 15. Section 4947(a)(1) trusts.
Any person who is a substantial
controlled entity within the meaning of
Section 4947(a)(1) nonexempt charitable
contributor on any date will remain a
section 512(b)(13), attach a schedule
trusts that file Form 990-PF instead of
substantial contributor for all later periods.
using the format provided in the sample
Form 1041 must complete this line. The
schedule on the next page. In column (c),
However, a person will cease to be a
trust should include exempt-interest
describe each transfer or payment
substantial contributor with respect to any
dividends received from a mutual fund or
received, including payment of interest,
private foundation if:
other regulated investment company as
annuities, royalties, rents, dividends, fees
well as tax-exempt interest received
1. The person, and all related
or other payments for services,
directly.
persons, made no contributions to the
contributions to capital, and loans. In
foundation during the 10-year period
Line 16. Foreign Accounts. Answer
column (d), enter the amount of each loan
ending with the close of the taxable year;
“Yes” if either (1) or (2) below applies.
or transfer from each controlled entity.
2. The person, or any related person,
1. At any time during the calendar
Line 12. Interest in insurance
was never the foundation’s manager
year ending with or within the foundation’s
contracts. Answer “Yes” if after August
during this 10-year period; and
tax year, the foundation had an interest
17, 2006, but before August 17, 2008, the
3. The aggregate contributions made
in, or signature or other authority over, a
foundation directly or indirectly acquired
by the person, and related persons, are
financial account in a foreign country
any applicable insurance contract that is a
determined by the IRS to be insignificant
(such as a bank account, securities
part of a structured transaction involving a
compared to the aggregate amount of
account, or other financial account); and
pool of such contracts. If you answer
contributions to the foundation by any
a. The combined value of all such
“Yes,” complete Form 8921.
other person and the appreciated value of
accounts was more than $10,000 at any
contributions held by the foundation.
time during the calendar year; and
An applicable insurance contract is
b. The accounts were not with a U.S.
any life insurance, annuity, or endowment
The term “related person” includes any
military banking facility operated by a U.S.
contract in which an applicable exempt
other person who would be a disqualified
financial institution.
organization and a person other than an
person because of a relationship with the
applicable exempt organization have
2. The foundation owns more than
substantial contributor (section 4946).
directly or indirectly held an interest in the
50% of the stock in any corporation that
When the substantial contributor is a
contract (whether or not at the same
would answer “Yes” to item 1 above.
corporation, the term also includes any
time). However, an applicable insurance
If “Yes,” file Form TD F 90-22.1, Report of
officer or director of the corporation. The
contract does not include any life
Foreign Bank and Financial Accounts, by
term “substantial contributor” does not
insurance, annuity, or endowment
June 30 after the end of the calendar year
include public charities (organizations
contract if:
with the Department of the Treasury at
described in section 509(a)(1), (2), or (3)).
1. All persons directly or indirectly
the address shown on the form. Do not
holding any interest in the contract (other
Line 11. Answer “Yes” if at any time
file Form TD F 90-22.1 with the IRS or
than applicable exempt organizations)
during the tax year the foundation owned
attach it to Form 990-PF.
have an insurable interest in the insured
a controlled entity. A controlled entity is
Form TD F 90-22.1 is available by
under the contract independent of any
an entity in which the foundation owns
calling 1-800-TAX-FORM
interest of an applicable exempt
more than 50% of the:
(1-800-829-3676) or by downloading it
organization in the contract, or
1. Stock (by vote or value) in a
from the IRS website at
2. The sole interest in the contract of
corporation,
irs-pdf/f9022.pdf.
an applicable exempt organization or
2. Interest (of profit or capital) in a
each person other than an applicable
If you are required to file Form TD
partnership, or
exempt organization is as a named
!
F 90-22.1 but do not do so, you
3. Beneficial interest of any other
beneficiary, or
may have to pay a penalty of up to
entity.
CAUTION
3. The sole interest in the contract of
$10,000 (more in some cases).
each person other than an applicable
The foundation must apply section 318
Enter the name of each foreign country
exempt organization is:
in determining its ownership of stock in a
in which a foreign account described on
a. As a beneficiary of a trust holding
corporation and use similar principles in
line 16 is located.
an interest in the contract, but only if the
determining its ownership interests in
person’s designation as such beneficiary
Part VII-B. Activities for
other entities.
was made without consideration and
solely on a gratuitous basis, or
Which Form 4720 May Be
Attached schedule of controlled
b. As a trustee who holds an interest
entities. If at any time during the tax
Required
in the contract in a fiduciary capacity
year the foundation was the controlling
solely for the benefit of applicable
The purpose of these questions is to
organization of a controlled entity under
organizations or persons described above
determine if there is any initial excise tax
section 512(b)(13), attach a schedule
in 1, 2, or 3a. An applicable organization
due under sections 170(f)(10),
showing the name, address, and
is the foundation and any organization to
4941 – 4945, 4955, 4958, 4966, and 4967.
employer identification number of each
which contributions are deductible for
If the answer is “Yes” to question 1b, 1c,
controlled entity.
income tax, estate tax, or gift tax
2b, 3b, 4a, 4b, 5b, 6b, or 7b, complete
Attached schedule for transfers to
purposes and Indian tribal governments.
and file Form 4720 unless an exception
controlled entities. If at any time during
applies.
Line 13. Public inspection
the tax year, the foundation made any
Line 1. Self-dealing. The activities listed
loans or transfers to a corporation,
requirements and website address. All
in 1a(1) – (6) are considered self-dealing
partnership, or other entity, which it
domestic private foundations (including
under section 4941 unless one of the
controlled within the meaning of section
section 4947(a)(1) nonexempt charitable
exceptions applies. See
512(b)(13), attach a schedule using the
trusts treated as private foundations) are
charities/foundations/article/
format provided in the sample schedule
subject to the public inspection
0,,id=137700,00.html.
on the next page. In column (c), describe
requirements. See General Instruction Q
each loan or transfer. In column (d), enter
for information on making the foundation’s
The terms “disqualified person” and
the amount for each loan or transfer to
annual returns and exemption application
“foundation manager” are defined in
each controlled entity.
available for public inspection.
General Instruction C.
-20-
Form 990-PF Instructions
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