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 4
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30Form 8822, Change of Address.
limitations that may not meet some state
Exceptions. These rules do not apply to
requirements are the $5,000 total assets
any foreign foundation which, from the
Form 8868, Application for Extension of
minimum that requires completion of Part
date of its creation, has received at least
Time To File an Exempt Organization
II, column (c), and Part XV; and the
85% of its support (excluding gross
Return.
$50,000 minimum for listing the highest
investment income) from sources outside
Form 8870, Information Return for
paid employees and for listing
the United States. (See General
Transfers Associated With Certain
professional fees in Part VIII.
Instruction S for other exceptions that
Personal Benefit Contracts. Used to
affect this type of organization.)
Additional information may be
identify those personal benefit contracts
required. State and local filing
for which funds were transferred to the
Coordination with state reporting
requirements may require attaching to
organization, directly or indirectly, as well
requirements. If the foundation
Form 990-PF one or more of the
as the transferors and beneficiaries of
managers submit a copy of Form 990-PF
following:
those contracts.
and Form 4720 (if applicable) to a state
•
Additional financial statements, such as
attorney general to satisfy a state
E. Useful Publications
a complete analysis of functional
reporting requirement, they do not have to
expenses or a statement of changes in
furnish a second copy to that attorney
The following publications may be helpful
net assets,
general to comply with the Internal
in preparing Form 990-PF:
•
Notes to financial statements,
Revenue Code requirements discussed in
•
Publication 525, Taxable and
Additional financial schedules,
this section.
•
Nontaxable Income.
A report on the financial statements by
Publication 578, Tax Information for
If there is a state reporting requirement
an independent accountant, and
•
Private Foundations and Foundation
to file a copy of Form 990-PF with a state
Answers to additional questions and
Managers.
official other than the attorney general
other information.
(such as the secretary of state), then the
Each jurisdiction may require the
Publication 583, Starting a Business
foundation managers must also send a
additional material to be presented on
and Keeping Records.
copy of the Form 990-PF and Form 4720
forms they provide. The additional
Publication 598, Tax on Unrelated
(if applicable) to the attorney general of
information does not have to be submitted
Business Income of Exempt
that state.
with the Form 990-PF filed with the IRS.
Organizations.
If required information is not provided
Publication 910, Guide to Free Tax
H. Accounting Period
to a state, the organization may be asked
Services.
by the state to provide it or to submit an
Publication 1771, Charitable
1. File the 2003 return for the
amended return, even if the Form 990-PF
Contributions — Substantiation and
calendar year 2003 or fiscal year
is accepted by the IRS as complete.
Disclosure Requirements.
beginning in 2003. If the return is for a
Amended returns. If the organization
fiscal year, fill in the tax year space at the
Publications and forms are available at
submits supplemental information or files
top of the return.
no charge through IRS offices or by
an amended Form 990-PF with the IRS, it
2. The return must be filed on the
calling 1-800-TAX-FORM
must also include a copy of the
basis of the established annual
(1-800-829-3676).
information or amended return to any
accounting period of the organization. If
state with which it filed a copy of Form
F. Use of Form 990-PF To
the organization has no established
990-PF.
accounting period, the return should be
Satisfy State Reporting
on the calendar-year basis.
Method of accounting. Many states
3. For initial or final returns or a
Requirements
require that all amounts be reported
change in accounting period, the 2003
based on the accrual method of
Some states and local government units
form may also be used as the return for a
accounting.
will accept a copy of Form 990-PF and
short period (less than 12 months) ending
required attachments instead of all or part
Time for filing may differ. The time for
November 30, 2004, or earlier.
of their own financial report forms.
filing Form 990-PF with the IRS may differ
In general, to change its accounting
from the time for filing state reports.
If the organization plans to use Form
period the organization must file Form
990-PF to satisfy state or local filing
990-PF by the due date for the short
G. Furnishing Copies of
requirements, such as those from state
period resulting from the change. At the
charitable solicitation acts, note the
Form 990-PF to State
top of this short period return, write
following:
“Change of Accounting Period.”
Officials
Determine state filing requirements.
If the organization changed its
Consult the appropriate officials of all
The foundation managers must furnish a
accounting period within the
states and other jurisdictions in which the
copy of the annual return Form 990-PF
10-calendar-year period that includes the
organization does business to determine
(and Form 4720 (if applicable)) to the
beginning of the short period, and it had a
their specific filing requirements. “Doing
attorney general of:
Form 990-PF filing requirement at any
business” in a jurisdiction may include
1. Each state required to be listed in
time during that 10-year period, it must
any of the following:
Part VII-A, line 8a,
•
Soliciting contributions or grants by
also attach a Form 1128 to the
2. The state in which the foundation’s
short-period return. See Rev. Proc. 85-58,
mail or otherwise from individuals,
principal office is located, and
1985-2 C.B. 740.
businesses, or other charitable
3. The state in which the foundation
organizations,
was incorporated or created.
•
Conducting programs,
I. Accounting Methods
•
A copy of the annual return must be
Having employees within that
Generally, you should report the financial
sent to the attorney general at the same
jurisdiction, or
•
information requested on the basis of the
time the annual return is filed with the
Maintaining a checking account or
accounting method the foundation
IRS.
owning or renting property there.
regularly uses to keep its books and
Monetary tests may differ. Some or all
Other requirements. If the attorney
records.
of the dollar limitations that apply to Form
general or other appropriate state official
990-PF when filed with the IRS may not
of any state requests a copy of the annual
Exception. Complete Part I, column (d)
apply when using Form 990-PF instead of
return, the foundation managers must
on the cash receipts and disbursements
state or local report forms. IRS dollar
give them a copy of the annual return.
method of accounting.
-4-
Form 990-PF Instructions
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