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 Page 13
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30Line 7 — Capital gain net income. Enter
inventory items are the ones the
in column (a) that was paid or incurred to
the capital gain net income from Part IV,
organization either makes to sell to others
produce or collect income included in
line 2. See Part IV instructions.
or buys for resale.
column (c).
Line 8 — Net short-term capital gain.
Do not report any sales or exchanges
Line 14 — Other employee salaries and
of investments on line 10.
wages. Enter the salaries and wages of
Only private operating foundations
all employees other than those included
Do not include any profit or (loss) from
TIP
report their short-term capital
on line 13.
the sale of capital items such as
gains on line 8.
securities, land, buildings, or equipment
Line 15 — Contributions to employee
Include only net short-term capital gain
on line 10. Enter these amounts on
pension plans and other benefits.
for the year (assets sold or exchanged
line 6a.
Enter the employer’s share of the
that were held not more than 1 year). Do
contributions the organization paid to
Do not include any business expenses
not include a net long-term capital gain or
qualified and nonqualified pension plans
such as salaries, taxes, rent, etc., on line
a net loss in column (c).
and the employer’s share of contributions
10. Include them on lines 13 – 23.
to employee benefit programs (such as
Do not include on line 8 a net gain
Attach a schedule showing the
insurance, health, and welfare programs)
from the sale or exchange of depreciable
following items: Gross sales, Cost of
that are not an incidental part of a
property, or land used in a trade or
goods sold, Gross profit or (loss). These
pension plan. Complete the return/report
business (section 1231) and held for
items should be classified according to
of the Form 5500 series appropriate for
more than 1 year. However, include a net
type of inventory sold (such as books,
the organization’s plan. (See the
loss from such property on line 23 as an
tapes, other educational or religious
Instructions for Form 5500 for information
Other expense.
material, etc.). The totals from the
about employee welfare benefit plans
In general, organizations may carry to
schedule should agree with the entries on
required to file that form.)
line 8 the net short-term capital gain
lines 10a – 10c.
reported on Part IV, line 3. However, if the
Also include the amount of Federal,
In column (c), enter the gross profit
state, and local payroll taxes for the year,
foundation had any short-term capital
or (loss) from sales of inventory shown in
gain from sales of debt-financed property,
but only those that are imposed on the
column (a), line 10c.
add it to the amount reported on Part IV,
organization as an employer. This
Line 11 — Other income. Enter the total
includes the employer’s share of social
line 3, to figure the amount to include on
of all the foundation’s other income for the
line 8. For the definition of “debt-financed
security and Medicare taxes, FUTA tax,
year. Attach a schedule that gives a
property,” see the instructions for Form
state unemployment compensation tax,
description and the amount of the income.
and other state and local payroll taxes.
990-T.
Include all income not reported on lines 1
Do not include taxes withheld from
Line 9 — Income modifications. Include
through 10c. Also, see the instructions for
employees’ salaries and paid over to the
on this line:
Part XVI-A, line 11.
•
various governmental units (such as
Amounts received or accrued as
Include imputed interest on certain
Federal and state income taxes and the
repayments of amounts taken into
employee’s share of social security and
deferred payments figured under section
account as qualifying distributions (see
483 and any investment income not
Medicare taxes).
the instructions for Part XII for an
reportable on lines 3 through 5, including
explanation of qualifying distributions) for
Lines 16a, b, and c — Legal,
income from program-related investments
any year.
accounting, and other professional
•
(defined in the instructions for Part IX-B).
Amounts received or accrued from the
fees. On the appropriate line(s), enter the
sale or other disposition of property to the
Do not include unrealized gains and
amount of legal, accounting, auditing, and
extent that the acquisition of the property
other professional fees (such as fees for
losses on investments carried at market
was considered a qualifying distribution
fundraising or investment services)
value. Report those as fund balance or
for any tax year.
net asset adjustments in Part III.
charged by outside firms and
•
Any amount set aside for a specific
individuals who are not employees of the
In column (b), enter the amount of
project (see explanation in the
foundation.
investment income included in line 11,
instructions for Part XII) that was not
column (a). Include dividends, interest,
Attach a schedule for lines 16a, b, and
necessary for the purposes for which it
rents, and royalties derived from assets
c. Show the type of service and amount of
was set aside.
devoted to charitable activities, such as
expense for each. If the same person
•
Income received from an estate, but
interest on student loans.
provided more than one of these services,
only if the estate was considered
include an allocation of those expenses.
In column (c), include all other items
terminated for income tax purposes due
includible in adjusted net income not
Report any fines, penalties, or
to a prolonged administration period.
covered elsewhere in column (c).
•
judgments imposed against the
Amounts treated in an earlier tax year
foundation as a result of legal
Line 12 — Total. In column (b),
as qualifying distributions to:
proceedings on line 23, Other expenses.
domestic organizations should enter the
1. A nonoperating private foundation,
total of lines 2 – 11. Exempt foreign
Line 18 — Taxes. Attach a schedule
if the amounts were not redistributed by
organizations, enter the total of lines 3, 4,
listing the type and amount of each tax
the grantee organization by the close of
5, and 11 only.
reported on line 18. Do not enter any
its tax year following the year in which it
taxes included on line 15.
Line 13 — Compensation of officers,
received the funds, or
directors, trustees, etc.
In column (a), enter the taxes paid (or
2. An organization controlled by the
accrued) during the year. Include all types
distributing foundation or a disqualified
In column (a), enter the total
person if the amounts were not
compensation for the year of all officers,
of taxes recorded on the books, including
real estate tax not reported on line 20; the
redistributed by the grantee organization
directors, and trustees. If none was paid,
by the close of its tax year following the
enter zero. Complete line 1 of Part VIII to
tax on investment income; and any
year in which it received the funds.
show the compensation of officers,
income tax.
directors, trustees, and foundation
Lines 10a, b, c — Gross profit from
In column (b), enter only those taxes
managers.
sales of inventory. Enter the gross
included in column (a) that are related to
sales (less returns and allowances), cost
In columns (b), (c), and (d), enter the
investment income taxable under section
of goods sold, and gross profit or (loss)
portion of the compensation included in
4940. Do not include the section 4940 tax
from the sale of all inventory items,
column (a) that is applicable to the
paid or incurred on net investment income
including those sold in the course of
column. For example, in column (c) enter
or the section 511 tax on unrelated
special events and activities. These
the portion of the compensation included
business income. Sales taxes may not be
-13-
Form 990-PF Instructions
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