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 - 2007 Page 30
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32•
Line 2 — Reporting of certain
furnished by the reporting organization is
Give the organization a copy of the
not more than the fair market value of the
relationships. Enter on line 2 each
return in addition to the copy to be filed
goods and other assets or services
noncharitable exempt organization that
with the IRS.
received from the unrelated noncharitable
the reporting organization is related to or
exempt organization. The exception
affiliated with, as defined above. If the
If the box for question 15 of Part VII-A
described below does not apply to
control factor or the historic and
is checked (section 4947(a)(1)
transactions for less than adequate
continuing relationship factor (or both) is
nonexempt charitable trust filing Form
consideration.
present at any time during the year,
990-PF instead of Form 1041), the paid
identify the organization on line 2 even if
Answer “Yes” for any transaction
preparer must also enter his or her social
neither factor is present at the end of
between the reporting organization and
the year.
security number or, if applicable, PTIN
an unrelated noncharitable exempt
and employer identification number in the
organization if the “amount involved” is
spaces provided. Otherwise, do not enter
Do not enter unrelated noncharitable
more than $500. The “amount involved” is
exempt organizations on line 2 even if
the preparer’s social security or employer
the fair market value of the goods,
transfers to or transactions with those
identification number.
services, or other assets furnished by the
organizations were entered on line 1. For
reporting organization.
example, if a one-time transfer to an
unrelated noncharitable exempt
Exception. If a transaction with an
Privacy Act and Paperwork Reduction
organization was entered on line 1a(2),
unrelated noncharitable exempt
Act Notice. We ask for the information
do not enter the organization on line 2.
organization was for adequate
on this form to carry out the Internal
consideration and the amount involved
Revenue laws of the United States. You
was $500 or less, answer “No” for that
Column (b). Enter the exempt
are required to give us the information.
transaction.
category of the organization; for example,
We need it to ensure that you are
“501(c)(4).”
Line 1b(3). Answer “Yes” for
complying with these laws and to allow us
transactions in which the reporting
to figure and collect the right amount of
Column (c). In most cases, a simple
organization was either the lessor or the
tax. Section 6109 requires return
description, such as “common directors”
lessee.
preparers to provide their identifying
or “auxiliary of reporting organization” will
numbers on the return.
be sufficient. If you need more space,
Line 1b(4). Answer “Yes” if either
write “see attached” in column (c) and use
organization reimbursed expenses
an attached sheet to describe the
incurred by the other.
You are not required to provide the
relationship. If you are entering more than
information requested on a form that is
Line 1b(5). Answer “Yes” if either
one organization on line 2, identify which
subject to the Paperwork Reduction Act
organization made loans to the other or if
organization you are describing on the
unless the form displays a valid OMB
the reporting organization guaranteed the
attached sheet.
control number. Books or records relating
other’s loans.
to a form or its instructions must be
Line 1b(6). Answer “Yes” if either
retained as long as their contents may
Signature
organization performed services or
become material in the administration of
membership or fundraising solicitations
any Internal Revenue law. The rules
The return must be signed by the
for the other.
president, vice president, treasurer,
governing the confidentiality of Form
assistant treasurer, chief accounting
990-PF are covered in Code
Line 1c. Complete line 1c regardless of
officer, or other corporate officer (such as
section 6104.
whether the noncharitable exempt
tax officer) who is authorized to sign. A
organization is related to or closely
receiver, trustee, or assignee must sign
affiliated with the reporting organization.
The time needed to complete and file
any return that he or she is required to file
For purposes of this line, “facilities”
this form will vary depending on individual
for a corporation. If the return is filed for a
includes office space and any other land,
circumstances. The estimated average
trust, it must be signed by the authorized
building, or structure whether owned or
time is:
trustee or trustees. Sign and date the
leased by, or provided free of charge to,
form and fill in the signer’s title.
the reporting organization or the
Recordkeeping . . . . . . . .
140 hr., 37 min.
noncharitable exempt organization.
Learning about the law or
If an officer or employee of the
Line 1d. Use this schedule to describe
the form . . . . . . . . . . . . .
28 hr., 15 min.
organization prepares the return, the Paid
the transfers and transactions for which
Preparer’s space should remain blank. If
“Yes” was entered on lines 1a – c above.
Preparing the form . . . . . .
33 hr., 39 min.
someone prepares the return without
You must describe each transfer or
charge, that person should not sign the
Copying, assembling, and
transaction for which the answer was
return.
sending the form to the IRS
32 min.
“Yes.” You may combine all of the cash
transfers (line 1a(1)) to each organization
Generally, anyone who is paid to
into a single entry. Otherwise, make a
prepare the organization’s tax return must
If you have comments concerning the
separate entry for each transfer or
sign the return and fill in the Paid
accuracy of these time estimates or
transaction.
Preparer’s Use Only area.
suggestions for making this form simpler,
Column (a). For each entry, enter the
we would be happy to hear from you. You
line number from line 1a – c. For example,
If you have questions about whether a
can write to the Internal Revenue Service,
if the answer was “Yes” to line 1b(3),
preparer is required to sign the return,
Tax Products Coordinating Committee,
enter “b(3)” in column (a).
please contact an IRS office.
SE:W:CAR:MP:T:T:SP, 1111 Constitution
Ave. NW, IR-6526, Washington, DC
Column (d). If you need more space,
The paid preparer must complete the
20224. Do not send the tax form to this
write “see attached” in column (d) and
required preparer information and:
address. Instead, see When, Where, and
use an attached sheet for the description.
•
Sign it in the space provided for the
How To File on page 5.
If making more than one entry on line 1d,
preparer’s signature (a facsimile signature
specify on the attached sheet which
is acceptable), and
transfer or transaction you are describing.
-30-
Form 990-PF Instructions
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