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 14
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31goods sold, Gross profit or (loss). These
pension plan. Complete the return/report
as a private operating foundation and
items should be classified according to
of the Form 5500 series appropriate for
completes Part XIV.
type of inventory sold (such as books,
the organization’s plan. (See the
Line 19 — Depreciation and depletion.
tapes, other educational or religious
Instructions for Form 5500 for information
In column (a). Enter the expense
material, etc.). The totals from the
about employee welfare benefit plans
recorded in the books for the year.
schedule should agree with the entries on
required to file that form.)
lines 10a – 10c.
For depreciation, attach a schedule
Also include the amount of federal,
In column (c), enter the gross profit or
showing:
state, and local payroll taxes for the year,
•
A description of the property,
(loss) from sales of inventory shown in
but only those that are imposed on the
•
The date acquired,
column (a), line 10c.
organization as an employer. This
•
The cost or other basis (exclude any
includes the employer’s share of social
Line 11 — Other income. Enter the total
land),
of all the foundation’s other income for the
security and Medicare taxes, FUTA tax,
•
The depreciation allowed or allowable
year. Attach a schedule that gives a
state unemployment compensation tax,
in prior years,
and other state and local payroll taxes.
description and the amount of the income.
•
The method of computation,
Include all income not reported on lines 1
Do not include taxes withheld from
•
The rate (%) or life (years), and
employees’ salaries and paid over to the
through 10c. Also, see the instructions for
•
The depreciation this year.
various governmental units (such as
Part XVI-A, line 11.
federal and state income taxes and the
On a separate line on the schedule,
Include imputed interest on certain
employee’s share of social security and
show the amount of depreciation included
deferred payments figured under section
Medicare taxes).
in cost of goods sold and not included on
483 and any investment income not
line 19.
reportable on lines 3 through 5, including
Lines 16a, b, and c — Legal,
income from program-related investments
accounting, and other professional
In columns (b) and (c). A deduction
(defined in the instructions for Part IX-B).
fees. On the appropriate line(s), enter the
for depreciation is allowed only for
amount of legal, accounting, auditing, and
Do not include unrealized gains and
property used in the production of income
other professional fees (such as fees for
losses on investments carried at market
reported in the column, and only using the
fundraising or investment services)
value. Report those as fund balance or
straight line method of computing
charged by outside firms and individuals
net asset adjustments in Part III.
depreciation. A deduction for depletion is
who are not employees of the foundation.
allowed but must be figured only using
In column (b). Enter the amount of
the cost depletion method.
investment income included in line 11,
Attach a schedule for lines 16a, b, and
column (a). Include dividends, interest,
c. Show the type of service and amount of
The basis used in figuring depreciation
rents, and royalties derived from assets
expense for each. If the same person
and depletion is the basis determined
devoted to charitable activities, such as
provided more than one of these services,
under normal basis rules, without regard
interest on student loans.
include an allocation of those expenses.
to the special rules for using the fair
In column (c). Include all other items
market value on December 31, 1969, that
Report any fines, penalties, or
includible in adjusted net income not
relate only to gain or loss on dispositions
judgments imposed against the
covered elsewhere in column (c).
for purposes of the tax on net investment
foundation as a result of legal
income.
Line 12 — Total. In column (b).
proceedings on line 23, Other expenses.
Domestic organizations should enter the
Line 20 — Occupancy. Enter the amount
Line 18 — Taxes. Attach a schedule
total of lines 3 – 11. Exempt foreign
paid or incurred for the use of office
listing the type and amount of each tax
organizations, enter the total of lines 3, 4,
space or other facilities. If the space is
reported on line 18. Do not enter any
5, and 11 only.
rented or leased, enter the amount of
taxes included on line 15.
Line 13 — Compensation of officers,
rent. If the space is owned, enter the
In column (a). Enter the taxes paid
directors, trustees, etc.
amount of mortgage interest, real estate
(or accrued) during the year. Include all
taxes, and similar expenses, but not
In column (a). Enter the total
types of taxes recorded on the books,
depreciation (reportable on line 19). In
compensation for the year of all officers,
including real estate tax not reported on
either case, include the amount for
directors, and trustees. If none was paid,
line 20; the tax on investment income;
utilities and related expenses (e.g., heat,
enter zero. Complete line 1 of Part VIII to
and any income tax.
lights, water, power, telephone, sewer,
show the compensation of officers,
In column (b). Enter only those taxes
trash removal, outside janitorial services,
directors, trustees, and foundation
included in column (a) that are related to
and similar services). Do not include any
managers.
investment income taxable under section
salaries of the organization’s own
In columns (b), (c), and (d). Enter
4940. Do not include the section 4940 tax
employees that are reportable on line 15.
the portion of the compensation included
paid or incurred on net investment income
in column (a) that is applicable to the
Line 21 — Travel, conferences, and
or the section 511 tax on unrelated
column. For example, in column (c) enter
meetings. Enter the expenses for
business income. Sales taxes may not be
the portion of the compensation included
officers, employees, or others during the
deducted separately, but must be treated
in column (a) that was paid or incurred to
year for travel, attending conferences,
as a part of the cost of acquired property,
produce or collect income included in
meetings, etc. Include transportation
or as a reduction of the amount realized
column (c).
(including fares, mileage allowance, or
on disposition of the property.
automobile expenses), meals and
Line 14 — Other employee salaries and
In column (c). Enter only those taxes
lodging, and related costs whether paid
wages. Enter the salaries and wages of
included in column (a) that relate to
on the basis of a per diem allowance or
all employees other than those included
income included in column (c). Do not
actual expenses incurred. Do not include
on line 13.
include any excise tax paid or incurred on
any compensation paid to those who
Line 15 — Contributions to employee
the net investment income (as shown in
participate.
pension plans and other benefits.
Part VI), or any tax reported on Form
Enter the employer’s share of the
In column (b). Only 50% of the
990-T.
contributions the organization paid to
expense for business meals, etc., paid or
qualified and nonqualified pension plans
In column (d). Do not include any
incurred in connection with travel,
and the employer’s share of contributions
excise tax paid on investment income (as
meetings, etc., relating to the production
to employee benefit programs (such as
reported in Part VI of this return or the
of investment income, may be deducted
insurance, health, and welfare programs)
equivalent part of a return for prior years)
in figuring net investment income (section
that are not an incidental part of a
unless the organization is claiming status
274(n)).
-14-
Form 990-PF Instructions
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