Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - Page 12
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31Expenses related to tax-exempt
Examples.
charities (for example, organizations that
interest. Do not include on lines 13 – 23
are not private foundations as defined in
1. A charitable activity generated
of column (b) any expenses paid or
section 509(a)), are qualifying
$5,000 of income and $4,000 of
incurred that are allocable to tax-exempt
distributions only if the granting
expenses. Report all of the income and
interest that is excluded from lines 3
foundation does not control the public
expenses in column (c) and none in
and 4.
charity.
column (d).
2. A charitable activity generated
The total of the expenses and
Column (c) — Adjusted Net Income
$5,000 of income and $6,000 of
TIP
disbursements on line 26 is also
expenses. Report $5,000 of income and
entered on line 1a in Part XII to
Nonoperating private foundations
$5,000 of expenses in column (c) and the
figure qualifying distributions.
TIP
should see item 1 under
excess expenses of $1,000 in column (d).
Nonoperating private foundations
Alternative to completing lines 13 – 25.
on this page to find out if they need to
If you want to provide an analysis of
Nonoperating private foundations. The
complete column (c).
disbursements that is more detailed than
following rules apply to nonoperating
column (d), you may attach a schedule
private foundations.
Private operating foundations. All
•
instead of completing lines 13 – 25. The
If a nonoperating private foundation
organizations that claim status as private
schedule must include all the specific
has no income from charitable activities
operating foundations under section
items of lines 13 – 25, and the total from
that would be reportable on line 10 or line
4942(j)(3) or (5) must complete all lines of
the schedule must be entered in column
11 of Part I, it does not have to make any
column (c) that apply, according to the
(d), line 26.
entries in column (c).
general rules for income and expenses
•
If a nonoperating private foundation
that apply to this column, the specific line
Line Instructions
has income from charitable activities, it
instructions for lines 3 – 27c, the Special
Line 1 — Contributions, gifts, grants,
must report that income only on lines 10
rule, and Examples 1 and 2 below.
etc., received. Enter the total of gross
and/or 11 in column (c). These
General rules. In general, adjusted net
contributions, gifts, grants, and similar
foundations do not need to report other
income is the amount of a private
amounts received.
kinds of income and expenses (such as
foundation’s gross income that is more
investment income and expenses) in
Schedule B (Form 990, 990-EZ, or
than the expenses of earning the income.
column (c).
990-PF). If money, securities, or other
•
The modifications and exclusions
If a nonoperating private foundation
property valued at $5,000 or more was
explained below are applied to gross
has income that it reports on lines 10 and/
received directly or indirectly from any
income and expenses in figuring adjusted
or 11, report any expenses relating to this
one person during the year, complete
net income.
income following the general rules and
Schedule B and attach it to the return. If
the special rule. See Examples 1 and 2
the foundation is not required to complete
For income and expenses, include on
above.
Schedule B (no person contributed
each line of column (c) only that portion of
$5,000 or more), be sure to check the box
the amount from column (a) that is
Column (d) — Disbursements for
on line 2.
applicable to the adjusted net income
Charitable Purposes
computation.
To determine whether a person has
Expenses entered in column (d) relate to
contributed $5,000 or more, total only
Income. For column (c), include
activities that constitute the charitable
gifts of $1,000 or more from each person.
income from charitable functions,
purpose of the foundation.
Separate and independent gifts need not
investment activities, short-term capital
For amounts entered in column (d):
be totaled if less than $1,000. If a
gains from investments, amounts set
•
Use the cash receipts and
contribution is in the form of property,
aside, and unrelated trade or business
disbursements method of accounting no
describe the property and include its fair
activities. Do not include gifts, grants, or
matter what accounting method is used in
market value.
contributions, or long-term capital gains or
keeping the books of the foundation;
losses.
•
The term “person” includes individuals,
Do not include any amount or part of an
fiduciaries, partnerships, corporations,
amount that is included in column (b) or
Expenses. Deductible expenses
associations, trusts, and exempt
include the part of a private foundation’s
(c);
•
organizations.
operating expenses that is paid or
Include on lines 13 – 25 all expenses,
Split-interest trusts. Distributions
including necessary and reasonable
incurred to produce or collect gross
from split-interest trusts should be
income reported on lines 3 – 11 of column
administrative expenses, paid by the
entered on line 1 of column (a). They are
(c). If only part of the property produces
foundation for religious, charitable,
a part of the amount on line 1.
scientific, literary, educational, or other
income includible in column (c),
Substantiation requirements. An
deductions such as interest, taxes, and
public purposes, or for the prevention of
organization must keep records, required
rent must be divided between the
cruelty to children or animals;
•
Include a distribution of property at the
by the regulations under section 170, for
charitable and noncharitable uses of the
all its charitable contributions.
property. If the deductions for property
fair market value on the date the
distribution was made; and
used for a charitable, educational, or
Generally, a donor making a charitable
•
other similar purpose are more than the
Include only the part entered in column
contribution of $250 or more will not be
income from the property, the excess will
(a) that is allocable to the charitable
allowed a federal income tax deduction
purposes of the foundation.
not be allowed as a deduction but may be
unless the donor obtains a written
treated as a qualifying distribution in Part
acknowledgment from the donee
Example. An educational seminar
I, column (d). See Examples 1 and 2
produced $1,000 in income that was
organization by the earlier of the date on
below.
reportable in columns (a) and (c).
which the donor files a tax return for the
tax year in which the contribution was
Expenses attributable to this charitable
Special rule. The expenses attributable
activity were $1,900. Only $1,000 of
made or the due date, including
to each specific charitable activity, limited
extensions, for filing that return. However,
expense should be reported in column (c)
by the amount of income from the activity,
and the remaining $900 in expense
see section 170(f)(8) and Regulations
must be reported in column (c) on lines
should be reported in column (d).
section 1.170A-13 for exceptions to this
13 – 26. If the expenses of any charitable
rule.
activity exceed the income generated by
Qualifying distributions. Generally,
that activity, only the excess of these
gifts and grants to organizations
The written acknowledgment the
expenses over the income should be
described in section 501(c)(3), that have
foundation provides to the donor must
reported in column (d).
been determined to be publicly supported
show:
-12-
Form 990-PF Instructions
ADVERTISEMENT
0 votes
Related Articles
Related forms
Instructions For Form 990-pf - Return Of Private Foundation Or Section 4947(a)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2001
Financial
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
Financial
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 - 2009
Financial
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
Financial
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 - 2008
Financial
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 - 2003
Financial
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 - 2004
Financial
Instructions For Form 990-pf - Return Of Private Foundation Or Section 4947(a)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2017
Financial
Related Categories
Parent category: Financial