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 3
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31In general, churches, hospitals,
by the same persons who control the
additional tax figured in Part IV of Form
schools, and broadly publicly supported
private foundation in question, or
8621, Return by a Shareholder of a
organizations are excluded from private
ii. A private foundation to which
Passive Foreign Investment Company or
foundation status by these sections.
substantially all of the contributions were
Qualified Electing Fund.
These organizations may be required to
made (directly or indirectly) by one or
Form 990-W, Estimated Tax on
file Form 990 (or Form 990-EZ) instead of
more of the persons described in a, b,
Unrelated Business Taxable Income
Form 990-PF.
and c above, or members of their families,
for Tax-Exempt Organizations (and on
2. A nonexempt charitable trust
within the meaning of section 4946(d).
Investment Income for Private
8. An organization is controlled by a
treated as a private foundation is a trust
Foundations). Use of this form is
that is not exempt from tax under section
foundation or by one or more disqualified
optional. It is provided only to aid you in
501(a) and all of the unexpired interests
persons with respect to the foundation if
determining your tax liability.
of which are devoted to religious,
any of these persons may, by combining
Form 1041, U.S. Income Tax Return for
charitable, or other purposes described in
their votes or positions of authority,
Estates and Trusts. Required of section
require the organization to make an
section 170(c)(2)(B), and for which a
4947(a)(1) nonexempt charitable trusts
deduction was allowed under a section of
expenditure or prevent the organization
that also file Form 990-PF. However, if
the Code listed in section 4947(a)(1).
from making an expenditure, regardless
the trust does not have any taxable
of the method of control. “Control” is
3. A taxable private foundation is an
income under the income tax provisions
organization that is no longer exempt
determined regardless of how the
(subtitle A of the Code), it may use the
foundation requires the contribution to be
under section 501(a) as an organization
filing of Form 990-PF to satisfy its Form
used.
described in section 501(c)(3). Though it
1041 filing requirement under section
may operate as a taxable entity, it will
6012. If this condition is met, check the
continue to be treated as a private
D. Other Forms You May
box for question 13, Part VII-A, of Form
foundation until that status is terminated
990-PF and do not file Form 1041.
Need To File
under section 507.
Form 1041-ES, Estimated Income Tax
•
4. A private operating foundation is an
Form W-2, Wage and Tax Statement.
for Estates and Trusts. Used to make
•
organization that is described under
Form W-3, Transmittal of Wage and
estimated tax payments.
section 4942(j)(3) or (5). It means any
Tax Statements.
•
private foundation that spends at least
Form 1096, Annual Summary and
Form 941, Employer’s Quarterly
85% of the smaller of its adjusted net
Transmittal of U.S. Information
Federal Tax Return.
income (figured in Part I) or its minimum
Returns. Used to transmit forms 1099,
These forms are used to report social
investment return (figured in Part X)
1098, 5498, and W-2G to the IRS. Do not
security, Medicare, and income taxes
directly for the active conduct of the
use it to transmit electronically or
withheld by an employer and social
exempt purpose or functions for which the
magnetically.
security and Medicare taxes paid by an
foundation is organized and operated and
Form 1098-C, Contributions of Motor
employer.
that also meets the assets test, the
Vehicles, Boats, and Airplanes.
If income, social security, and
endowment test, or the support test
Information return for reporting
Medicare taxes that must be withheld are
(discussed in Part XIV).
contributions of qualified motor vehicles,
not withheld or are not paid to the IRS, a
5. A nonoperating private foundation
boats, and airplanes from donors.
trust fund recovery penalty may apply.
is a private foundation that is not a private
Forms 1099-INT, MISC, OID, and R.
The penalty is 100% of such unpaid
operating foundation.
Information returns for reporting certain
taxes.
6. A foundation manager is an officer,
interest; miscellaneous income (e.g.,
This penalty may be imposed on all
director, or trustee of a foundation, or an
payments to providers of health and
persons (including volunteers, see below)
individual who has powers similar to
medical services, miscellaneous income
those of officers, directors, or trustees. In
whom the IRS determines to be
payments, and nonemployee
responsible for collecting, accounting for,
the case of any act or failure to act, the
compensation); original issue discount;
and paying over these taxes, and who
term “foundation manager” may also
and distributions from retirement or
include employees of the foundation who
willfully did not do so.
profit-sharing plans, IRAs, SEPs or
have the authority to act.
This penalty does not apply to any
SIMPLEs, and insurance contracts.
7. A disqualified person is:
volunteer, unpaid member of any board of
Form 1120, U.S. Corporation Income
a. A substantial contributor (see
trustees or directors of a tax-exempt
Tax Return. Filed by nonexempt taxable
instructions for Part VII-A, line 10, on
organization, if this member:
private foundations that have taxable
•
page 19);
Is solely serving in an honorary
income under the income tax provisions
b. A foundation manager;
capacity,
(subtitle A of the Code). The Form
•
c. A person who owns more than 20%
Does not participate in the day-to-day
990-PF annual information return is also
of a corporation, partnership, trust, or
or financial activities of the organization,
filed by these taxable foundations.
unincorporated enterprise that is itself a
and
•
Form 1120-POL, U.S. Income Tax
substantial contributor;
Does not have actual knowledge of the
Return for Certain Political
d. A family member of an individual
failure to collect, account for, and pay
Organizations. Section 501(c)
described in a, b, or c above; or
over these taxes.
organizations must file Form 1120-POL if
e. A corporation, partnership, trust, or
they are treated as having political
estate in which persons described in a, b,
However, this exception does not apply if
organization taxable income under
it results in no person being liable for the
c, or d above own a total beneficial
section 527(f)(1).
interest of more than 35%.
penalty.
f. For purposes of section 4941
Form 1128, Application To Adopt,
Form 990-T, Exempt Organization
(self-dealing), a disqualified person also
Change, or Retain a Tax Year. Form
Business Income Tax Return. Every
includes certain government officials.
1128 is used to request approval from the
organization exempt from income tax
IRS to change a tax year or to adopt or
(See section 4946(c) and the related
under section 501(a) that has total gross
regulations.)
retain a certain tax year.
income of $1,000 or more from all trades
g. For purposes of section 4943
or businesses that are unrelated to the
Form 2220, Underpayment of
(excess business holdings), a disqualified
organization’s exempt purpose must file a
Estimated Tax by Corporations. Form
person also includes:
return on Form 990-T. The form is also
2220, is used by corporations and trusts
i. A private foundation that is
used by tax-exempt organizations to
filing Form 990-PF to see if the foundation
effectively controlled (directly or indirectly)
report other additional taxes including the
owes a penalty and to figure the amount
-3-
Form 990-PF Instructions
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