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 3
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32C. Definitions
(See section 4946(c) and the related
under section 501(a) with total gross
regulations.)
income of $1,000 or more from all trades
1. A private foundation is a domestic
g. For purposes of section 4943
or businesses unrelated to the
or foreign organization exempt from
(excess business holdings), a disqualified
organization’s exempt purpose must file
income tax under section 501(a),
person also includes:
Form 990-T. The form is also used by
described in section 501(c)(3), and is
i. A private foundation effectively
tax-exempt organizations to report other
other than an organization described in
controlled (directly or indirectly) by the
additional taxes including the additional
sections 509(a)(1) through (4).
same persons who control the private
tax figured in Part IV of Form 8621,
In general, churches, hospitals,
foundation in question, or
Return by a Shareholder of a Passive
schools, and broadly publicly supported
ii. A private foundation to which
Foreign Investment Company or Qualified
organizations are excluded from private
substantially all contributions were made
Electing Fund.
foundation status by these sections.
(directly or indirectly) by one or more of
Form 990-W, Estimated Tax on
These organizations may be required to
the persons described in a, b, and c
Unrelated Business Taxable Income
file Form 990 or Form 990-EZ instead of
above, or members of their families,
for Tax-Exempt Organizations (and on
Form 990-PF.
within the meaning of section 4946(d).
Investment Income for Private
2. A nonexempt charitable trust
8. An organization is controlled by a
Foundations). Use of this form is
treated as a private foundation is a trust
foundation or by one or more disqualified
optional. It is provided only to aid you in
that is not exempt from tax under section
persons with respect to the foundation if
determining your tax liability.
501(a) and all of the unexpired interests
any of these persons may, by combining
Form 1041, U.S. Income Tax Return for
of which are devoted to religious,
their votes or positions of authority,
Estates and Trusts. Required of section
charitable, or other purposes described in
require the organization to make an
4947(a)(1) nonexempt charitable trusts
section 170(c)(2)(B), and for which a
expenditure or prevent the organization
that also file Form 990-PF. However, if
deduction was allowed under a section of
from making an expenditure, regardless
the trust does not have any taxable
the Code listed in section 4947(a)(1).
of the method of control. “Control” is
income under the income tax provisions
3. A taxable private foundation is an
determined regardless of how the
(subtitle A of the Code), it may use the
organization that is no longer exempt
foundation requires the contribution to be
filing of Form 990-PF to satisfy its Form
under section 501(a) as an organization
used.
1041 filing requirement under section
described in section 501(c)(3). Though it
6012. If this condition is met, check the
may operate as a taxable entity, it will
D. Other Forms You May
box for question 15, Part VII-A, of Form
continue to be treated as a private
990-PF and do not file Form 1041.
foundation until that status is terminated
Need To File
under section 507.
Form 1041-ES, Estimated Income Tax
•
Form W-2, Wage and Tax Statement.
4. A private operating foundation is an
for Estates and Trusts. Used to make
•
Form W-3, Transmittal of Wage and
organization that is described under
estimated tax payments.
Tax Statements.
section 4942(j)(3) or (5). It means any
•
Form 940, Employer’s Annual Federal
Form 1096, Annual Summary and
private foundation that spends at least
Unemployment (FUTA) Tax Return.
Transmittal of U.S. Information
85% of the smaller of its adjusted net
•
Form 941, Employer’s Quarterly
Returns. Used to transmit Forms 1099,
income (figured in Part I) or its minimum
Federal Tax Return.
1098, 5498, and W-2G to the IRS. Do not
investment return (figured in Part X)
These forms are used to report social
use it to transmit electronically.
directly for the active conduct of the
security, Medicare, and income taxes
exempt purpose or functions for which the
Form 1098-C, Contributions of Motor
withheld by an employer and social
foundation is organized and operated and
Vehicles, Boats, and Airplanes.
security and Medicare taxes paid by an
that also meets the assets test, the
Information return for reporting
employer.
endowment test, or the support test
contributions of qualified motor vehicles,
(discussed in Part XIV).
If income, social security, and
boats, and airplanes from donors.
5. A nonoperating private foundation
Medicare taxes that must be withheld are
Forms 1099-INT, MISC, OID, and R.
is a private foundation that is not a private
not withheld or are not paid to the IRS, a
Information returns for reporting certain
operating foundation.
trust fund recovery penalty may apply.
interest; miscellaneous income (for
6. A foundation manager is an officer,
The penalty is 100% of such unpaid
example, payments to providers of health
director, or trustee of a foundation, or an
taxes.
and medical services, miscellaneous
individual who has powers similar to
This penalty may be imposed on all
income payments, and nonemployee
those of officers, directors, or trustees. In
persons (including volunteers, see below)
compensation); original issue discount;
the case of any act or failure to act, the
whom the IRS determines to be
and distributions from retirement or
term “foundation manager” may also
responsible for collecting, accounting for,
profit-sharing plans, IRAs, SEPs or
include employees of the foundation who
and paying over these taxes, and who
SIMPLEs, and insurance contracts.
have the authority to act.
willfully did not do so.
7. A disqualified person is any of the
Form 1120, U.S. Corporation Income
This penalty does not apply to any
following:
Tax Return. Filed by nonexempt taxable
volunteer, unpaid member of any board of
a. A substantial contributor (see
private foundations that have taxable
trustees or directors of a tax-exempt
instructions for Part VII-A, line 10, on
income under the income tax provisions
organization, if this member:
page 19).
(subtitle A of the Code). Form 990-PF is
•
Is solely serving in an honorary
b. A foundation manager.
also filed by these taxable foundations.
capacity,
c. A person who owns more than 20%
•
Form 1120-POL, U.S. Income Tax
Does not participate in the day-to-day
of a corporation, partnership, trust, or
Return for Certain Political
or financial activities of the organization,
unincorporated enterprise that is itself a
Organizations. Section 501(c)
and
substantial contributor.
•
organizations must file Form 1120-POL if
Does not have actual knowledge of the
d. A family member of an individual
they are treated as having political
failure to collect, account for, and pay
described in a, b, or c above.
organization taxable income under
over these taxes.
e. A corporation, partnership, trust, or
section 527(f)(1).
However, this exception does not apply if
estate in which persons described in a, b,
it results in no person being liable for the
c, or d above own a total beneficial
Form 1128, Application To Adopt,
penalty.
interest of more than 35%.
Change, or Retain a Tax Year. Form
f. For purposes of section 4941
Form 990-T, Exempt Organization
1128 is used to request approval from the
(self-dealing), a disqualified person also
Business Income Tax Return. Every
IRS to change a tax year or to adopt or
includes certain government officials.
organization exempt from income tax
retain a certain tax year.
-3-
Form 990-PF Instructions
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