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 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•
other similar purpose are more than the
Include only the part entered in column
allowed a federal income tax deduction
income from the property, the excess will
(a) that is allocable to the charitable
unless the donor obtains a written
not be allowed as a deduction but may be
purposes of the foundation.
acknowledgment from the donee
treated as a qualifying distribution in Part
organization by the earlier of the date on
Example. An educational seminar
I, column (d). See Examples 1 and 2
which the donor files a tax return for the
produced $1,000 in income that was
below.
tax year in which the contribution was
reportable in columns (a) and (c).
made or the due date, including
Expenses attributable to this charitable
Special rule. The expenses attributable
extensions, for filing that return. However,
to each specific charitable activity, limited
activity were $1,900. Only $1,000 of
see section 170(f)(8) and Regulations
by the amount of income from the activity,
expense should be reported in column (c)
section 1.170A-13 for exceptions to this
and the remaining $900 in expense
must be reported in column (c) on lines
rule.
13 – 26. If the expenses of any charitable
should be reported in column (d).
activity exceed the income generated by
Qualifying distributions. Generally,
The written acknowledgment the
that activity, only the excess of these
gifts and grants to organizations
foundation provides to the donor must
expenses over the income should be
described in section 501(c)(3), that have
show:
reported in column (d).
been determined to be publicly supported
1. The amount of cash contributed,
charities (i.e., organizations that are not
Examples.
2. A description of any property
private foundations as defined in section
1. A charitable activity generated
contributed,
509(a)), are qualifying distributions only if
$5,000 of income and $4,000 of
3. Whether the foundation provided
the granting foundation does not control
expenses. Report all of the income and
any goods or services to the donor, and
the public charity.
expenses in column (c) and none in
4. A description and a good-faith
column (d).
estimate of the value of any goods or
The total of the expenses and
2. A charitable activity generated
services the foundation gave in return for
TIP
disbursements on line 26 is also
$5,000 of income and $6,000 of
the contribution, unless:
entered on line 1a in Part XII to
expenses. Report $5,000 of income and
figure qualifying distributions.
a. The goods and services have
$5,000 of expenses in column (c) and the
insubstantial value, or
Alternative to completing lines 13 – 25.
excess expenses of $1,000 in column (d).
b. A statement is included that these
If you want to provide an analysis of
goods and services consist solely of
disbursements that is more detailed than
Nonoperating private foundations. The
intangible religious benefits.
column (d), you may attach a schedule
following rules apply to nonoperating
instead of completing lines 13 – 25. The
private foundations.
•
Generally, if a charitable organization
schedule must include all the specific
If a nonoperating private foundation
solicits or receives a contribution of more
items of lines 13 – 25, and the total from
has no income from charitable activities
than $75 for which it gives the donor
the schedule must be entered in column
that would be reportable on line 10 or line
something in return (a quid pro quo
(d), line 26.
11 of Part I, it does not have to make any
contribution), the organization must
entries in column (c).
Line Instructions
•
inform the donor, by written statement,
If a nonoperating private foundation
that the amount of the contribution
Line 1 — Contributions, gifts, grants,
has income from charitable activities, it
deductible for federal income tax
etc., received. Enter the total of gross
must report that income only on lines 10
purposes is limited to the amount by
contributions, gifts, grants, and similar
and/or 11 in column (c). These
which the contribution exceeds the value
amounts received.
foundations do not need to report other
of the goods or services received by the
Schedule B (Form 990, 990-EZ, or
kinds of income and expenses (such as
donor. The written statement must also
investment income and expenses) in
990-PF). If money, securities, or other
provide the donor with a good-faith
column (c).
property valued at $5,000 or more was
•
estimate of the value of goods or services
received directly or indirectly from any
If a nonoperating private foundation
given in return for the contribution.
has income that it reports on lines 10 and/
one person during the year, complete
or 11, report any expenses relating to this
Schedule B and attach it to the return. If
Penalties. An organization that does
income following the general rules and
the foundation is not required to complete
not make the required disclosure for each
the special rule. See Examples 1 and 2
Schedule B (no person contributed
quid pro quo contribution will incur a
above.
$5,000 or more), be sure to check the box
penalty of $10 for each failure, not to
on line 2.
exceed $5,000 for a particular fundraising
Column (d) —Disbursements for
event or mailing, unless it can show
To determine whether a person has
Charitable Purposes
reasonable cause for not providing the
contributed $5,000 or more, total only
Expenses entered in column (d) relate to
disclosure.
gifts of $1,000 or more from each person.
activities that constitute the charitable
Separate and independent gifts need not
For more information. See
purpose of the foundation.
be totaled if less than $1,000. If a
Regulations section 1.170A-13 for more
For amounts entered in column (d):
contribution is in the form of property,
•
information on charitable recordkeeping
Use the cash receipts and
describe the property and include its fair
and substantiation requirements.
disbursements method of accounting no
market value.
matter what accounting method is used in
Line 2. Check this box if the foundation is
The term “person” includes individuals,
keeping the books of the foundation;
not required to attach Sch. B.
fiduciaries, partnerships, corporations,
•
Do not include any amount or part of an
associations, trusts, and exempt
Line 3 — Interest on savings and
amount that is included in column (b) or
organizations.
temporary cash investments.
(c);
•
Split-interest trusts. Distributions
Include on lines 13 – 25 all expenses,
In column (a). Enter the total amount
from split-interest trusts should be
including necessary and reasonable
of interest income from investments of the
entered on line 1 of column (a). They are
administrative expenses, paid by the
type reportable in Balance Sheets, Part II,
a part of the amount on line 1.
foundation for religious, charitable,
line 2. These include savings or other
Substantiation requirements. An
scientific, literary, educational, or other
interest-bearing accounts and temporary
organization must keep records, required
public purposes, or for the prevention of
cash investments, such as money market
by the regulations under section 170, for
cruelty to children or animals;
funds, commercial paper, certificates of
•
all its charitable contributions.
Include a distribution of property at the
deposit, and U.S. Treasury bills or other
fair market value on the date the
Generally, a donor making a charitable
government obligations that mature in
distribution was made; and
contribution of $250 or more will not be
less than 1 year.
-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 - Return Of Private Foundation Or Section 4947(a)(1) Nonexempt Charitable Trust Treated As A Private Foundation -
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 - 2001
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