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 17
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30•
absence of donor-imposed restrictions
Line 29 — Retained earnings,
Nonoperating private foundations may
accumulated income, endowment, or
and the nature of those restrictions. Show
not have to figure their short-term capital
other funds. For corporations, enter the
the sum of the three classes of net assets
gain or loss on line 3. See the rules for
balance in the retained earnings, or
on line 30. On line 31, add the amounts
Nonoperating private foundations on
similar account, minus the cost of any
on lines 23 and 30 to show total liabilities
page 12.
corporate treasury stock. For trusts, enter
and net assets. This figure should be the
Private foundations must report gains
the balance per books in the accumulated
same as the figure for Total assets on
and losses from the sale or other
income or similar account. For
line 16.
disposition of property:
organizations using fund accounting,
•
Line 24 — Unrestricted. Enter the
Held for investment purposes, or
enter the total of the fund balances for the
•
balances per books of the unrestricted
Used to produce unrelated business
permanent and term endowment funds as
class of net assets. Unrestricted net
income; however, only include in net
well as balances of any other funds not
assets are neither permanently restricted
investment income the part of the gain or
reported on lines 27 and 28.
nor temporarily restricted by
loss that is not included in the
Line 30 — Total net assets or fund
donor-imposed stipulations. All funds
computation of its unrelated business
without donor-imposed restrictions must
balances. For organizations that follow
taxable income.
be classified as unrestricted, regardless
SFAS 117, enter the total of lines 24
Property held for investment
through 26. For all other organizations,
of the existence of any board
purposes. Property is treated as held for
designations or appropriations.
enter the total of lines 27 through 29.
investment purposes if the property is of a
Enter the beginning-of-year figure in
Line 25 — Temporarily restricted. Enter
type that generally produces interest,
column (a) on line 1, Part III. The
the balances per books of the temporarily
dividends, rents, or royalties, even if the
end-of-year figure in column (b) must
restricted class of net assets. Donors’
foundation disposes of the property as
agree with the figure in Part III, line 6.
temporary restrictions may require that
soon as it receives it.
resources be used in a later period or
Line 31 — Total liabilities and net
Charitable use property. Do not include
after a specified date (time restrictions),
assets/fund balances. Enter the total of
any gain or loss from disposing of
or that resources be used for a specified
lines 23 and 30. This amount must equal
property used for the foundation’s
purpose (purpose restrictions), or both.
the amount for total assets reported on
charitable purposes in the computation of
line 16 for both the beginning and end of
Line 26 — Permanently restricted.
tax on net investment income. If the
the year.
Enter the total of the balances for the
foundation uses property for its charitable
permanently restricted class of net
Part III—Analysis of
purposes, but also incidentally derives
assets. Permanently restricted net assets
income from the property that is subject to
are (a) assets, such as land or works of
Changes in Net Assets or
the net investment income tax, any gain
art, donated with stipulations that they be
or loss from the sale or other disposition
Fund Balances
used for a specified purpose, be
of the property is not subject to the tax.
preserved, and not be sold or (b) assets
Generally, the excess of revenue over
donated with stipulations that they be
However, if the foundation uses
expenses accounts for the difference
invested to provide a permanent source
property both for charitable purposes and
between the net assets at the beginning
of income. The latter result from gifts and
(other than incidentally) for investment
and end of the year.
bequests that create permanent
purposes, include in the computation of
On line 2, Part III, re-enter the figure
endowment funds.
tax on net investment income the part of
from Part I, line 27(a), column (a).
the gain or loss from the sale or
Organizations that do not follow SFAS
On lines 3 and 5, list any changes in
disposition of the property that is allocable
117. If the organization does not follow
net assets that were not caused by the
to the investment use of the property.
SFAS 117, check the box above line 27
receipts or expenses shown in Part I,
and report account balances on lines 27
Program-related investments. Do
column (a). For example, if a foundation
through 29. Report net assets or fund
not include gains or losses from the sale
follows FASB Statement No. 12 and
balances on line 30. Also complete line
or exchange of program-related
shows an asset in the ending balance
31 to report the sum of the total liabilities
investments as defined in the instructions
sheet at a higher value than in the
and net assets/fund balances.
for Part IX-B.
beginning balance sheet because of an
Line 27 — Capital stock, trust principal,
increased market value (after a larger
Losses. If the disposition of investment
or current funds. For corporations, enter
decrease in a prior year), include the
property results in a loss, that loss may
the balance per books for capital stock
increase in Part III, line 3.
be subtracted from capital gains realized
accounts. Show par or stated value (or for
from the disposition of property during the
If the organization uses a stepped-up
stock with no par or stated value, total
same tax year but only to the extent of the
basis to determine gains on sales of
amount received upon issuance) of all
gains. If losses are more than gains, the
assets included in Part I, column (a), then
classes of stock issued and, as yet,
excess may not be subtracted from gross
include the amount of step-up in basis in
uncancelled. For trusts, enter the amount
investment income, nor may the losses
Part III. If you entered a contribution, gift,
in the trust principal or corpus account.
be carried back or forward to other tax
or grant of property valued at fair market
For organizations continuing to use the
years.
value on line 25 of Part I, column (a), the
fund method of accounting, enter the fund
difference between fair market value and
balances for the organization’s current
Basis. The basis for determining gain
book value should be shown in the books
restricted and unrestricted funds.
from the sale or other disposition of
of account and as a net asset adjustment
property is the larger of:
Line 28 — Paid-in or capital surplus, or
in Part III.
land, building, and equipment fund.
1. The fair market value of the
Enter the balance per books for all paid-in
property on December 31, 1969, plus or
Part IV—Capital Gains and
capital in excess of par or stated value for
minus all adjustments after December 31,
Losses for Tax on
all stock issued and uncancelled. If
1969, and before the date of disposition, if
stockholders or others gave donations
the foundation held the property on that
Investment Income
that the organization records as paid-in
date and continuously after that date until
capital, include them here. Report any
Use Part IV to figure the amount of net
disposition, or
current-year donations you included on
capital gain to report on lines 7 and 8 of
2. The basis of the property on the
line 28 in Part I, line 1. The fund balance
Part I.
date of disposition under normal basis
•
for the land, building, and equipment fund
Part IV does not apply to foreign
rules (actual basis). See Code sections
would be entered here.
organizations.
1011 – 1021.
-17-
Form 990-PF Instructions
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