Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2017 Page 15
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38Include a distribution of property at the
Substantiation requirements. An
Special rule. The expenses attributable
fair market value on the date the
organization must keep records, as
to each specific charitable activity, limited
distribution was made; and
required by the regulations under section
by the amount of income from the activity,
Include only the part entered in column
170.
must be reported in column (c) on lines
(a) that is allocable to the charitable
13–26. If the expenses of any charitable
Generally, a donor making a charitable
purposes of the foundation.
activity exceed the income generated by
contribution of $250 or more won't be
that activity, only the excess of these
allowed a federal income tax deduction
Example. An educational seminar
expenses over the income should be
unless the donor obtains a written
produced $1,000 in income that was
reported in column (d).
acknowledgment from the donee
reportable in columns (a) and (c).
organization by the earlier of the date on
Expenses attributable to this charitable
Examples.
which the donor files a tax return for the
activity were $1,900. Only $1,000 of
1. A charitable activity generated
tax year in which the contribution was
expense should be reported in column (c)
$5,000 of income and $4,000 of
made or the due date, including
and the remaining $900 in expense should
expenses. Report all income and
extensions, for filing that return. However,
be reported in column (d).
expenses in column (c) and none in
see section 170(f)(8)(D) and Regulations
Qualifying distributions. Generally,
column (d).
section 1.170A-13(f) for exceptions to this
amounts paid to accomplish the
rule.
2. A charitable activity generated
foundation’s exempt purposes are
$5,000 of income and $6,000 of
The written acknowledgment the
qualifying distributions. Special rules apply
expenses. Report $5,000 of income and
foundation provides to the donor must
in certain situations—see the line 25,
$5,000 of expenses in column (c) and the
show:
column (d) instructions.
excess expenses of $1,000 in column (d).
1. The amount of cash contributed;
The total of the expenses and
2. A description of any property
Nonoperating private foundations. A
disbursements on line 26 is also
TIP
contributed;
foundation that doesn't claim status as a
entered on line 1a in Part XII to
private operating foundation isn't required
3. Whether the foundation provided
figure qualifying distributions.
to complete column (c) unless either of the
any goods or services to the donor; and
following applies.
Alternative to completing lines 13–25.
4. A description and a good-faith
If you want to provide an analysis of
1. The foundation received income
estimate of the value of any goods or
disbursements that is more detailed than
from a charitable activity and wishes to
services the foundation gave in return for
column (d), you may attach a schedule
claim a qualifying distribution for expenses
the contribution, unless:
instead of completing lines 13–25. The
incurred in the activity in excess of the
a. The goods and services have
schedule must include all the specific
income. The foundation must report such
insubstantial value, or
items of lines 13–25, and the total from the
income only on lines 10 and/or 11 in
b. A statement is included that these
schedule must be entered on line 26,
column (c), and any expenses relating to
goods and services consist solely of
column (d).
this income following the general rules and
intangible religious benefits.
the special rule above. See Examples 1
Line Instructions
and 2 above. The foundation need not
Generally, if a charitable organization
report other kinds of income and
Line 1. Contributions, gifts, grants,
solicits or receives a contribution of more
expenses (such as investment income
etc., received. Enter the total of gross
than $75 for which it gives the donor
and expenses) in column (c).
contributions, gifts, grants, and similar
something in return (a quid pro quo
amounts received.
2. The foundation claims status under
contribution), the organization must inform
section 170(b)(1)(F)(iii) (relating to
the donor, by written statement, that the
Schedule B (Form 990, 990-EZ, or
foundations that maintain a common
amount of the contribution deductible for
990-PF). If money, securities, or other
fund). The foundation must complete all
federal income tax purposes is limited to
property valued at $5,000 or more was
lines of column (c) that apply.
the amount by which the contribution
received directly or indirectly from any one
exceeds the value of the goods or
person during the year, complete
services received by the donor. The
Column (d). Disbursements for
Schedule B and attach it to the return. If
written statement must also provide the
the foundation isn't required to complete
Charitable Purposes
donor with a good-faith estimate of the
Schedule B (no person contributed $5,000
value of goods or services given in return
Expenses entered in column (d) relate to
or more), be sure to check the box on
activities that constitute the charitable
for the contribution.
line 2.
purpose(s) of the foundation.
Penalties. An organization that
To determine whether a person has
doesn't make the required disclosure for
contributed $5,000 or more, total only gifts
For amounts entered in column (d):
each quid pro quo contribution will incur a
of $1,000 or more from each person.
Use the cash receipts and
penalty of $10 for each failure, not to
Separate and independent gifts need not
disbursements method of accounting no
exceed $5,000 for a particular fundraising
be totaled if less than $1,000. If a
matter what accounting method is used in
event or mailing, unless it can show
contribution is in the form of property,
keeping the books of the foundation;
reasonable cause for not providing the
describe the property and include its fair
Don’t include any amount or part of an
disclosure.
market value.
amount included in column (b) or (c);
Include on lines 13–25 all expenses,
The term “person” includes individuals,
For more information. See
including necessary and reasonable
fiduciaries, partnerships, corporations,
Regulations section 1.170A-13 for more
administrative expenses, paid by the
associations, trusts, and exempt
information on charitable recordkeeping
foundation for religious, charitable,
organizations.
and substantiation requirements.
scientific, literary, educational, or other
Split-interest trusts. Distributions
Line 2. Check this box if the foundation
public purposes, or for the prevention of
from split-interest trusts should be entered
isn't required to attach Schedule B.
cruelty to children or animals;
on line 1, column (a). They are a part of
the amount on line 1.
Form 990-PF Instructions
-15-
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