IRS 990-PF 2024-2025 free printable template

B If Yes has it filed a tax return on Form 990-T for this year. Was there a liquidation termination dissolution or substantial contraction during the year. Under section 507 b 1 B check here income Cat. No. 11289X d Disbursements for charitable purposes cash basis only Form 990-PF 2024 Page 2 Balance Sheets Attached schedules and amounts in the description column should be for end-of-year amounts only. Form 990-PF Department of the Treasury Internal Revenue Service Return of Private Foundation...OMB No. 1545-0047 or Section 4947 a 1 Trust Treated as Private Foundation Do not enter social security numbers on this form as it may be made public. Go to www.irs.gov/Form990PF for instructions and the latest information. For calendar year 2024 or tax year beginning A Employer identification number Name of foundation Number and street or P. O. box number if mail is not delivered to street address Open to Public Inspection 2024 and ending Room/suite B Telephone number see instructions City or...town state or province country and ZIP or foreign postal code C If exemption application is pending check here. G Check all that apply D 1. Foreign organizations check here. Initial return Amended return Final return Address change Name change H Check type of organization Section 501 c 3 exempt private foundation Other taxable private foundation J Accounting method Cash Accrual I Fair market value of all assets at Other specify end of year from Part II col* c line 16 Part I column d must be on...cash basis. Operating and Administrative Expenses Revenue Part I Analysis of Revenue and Expenses The total of amounts in columns b c and d may not necessarily equal the amounts in column a see instructions. 5a b 6a 10a c 16a Contributions gifts grants etc* received attach schedule Check if the foundation is not required to attach Sch* B Interest on savings and temporary cash investments Dividends and interest from securities. Gross rents. Net rental income or loss Net gain or loss from sale of...assets not on line 10 Gross sales price for all assets on line 6a Capital gain net income from Part IV line 2. Net short-term capital gain. Income modifications. Gross sales less returns and allowances Less Cost of goods sold. Gross profit or loss attach schedule. Other income attach schedule. Total* Add lines 1 through 11. Compensation of officers directors trustees etc* Other employee salaries and wages. Pension plans employee benefits. Legal fees attach schedule. Accounting fees attach...schedule. Other professional fees attach schedule. Interest. Taxes attach schedule see instructions. Depreciation attach schedule and depletion. Occupancy. Travel conferences and meetings. Printing and publications. Other expenses attach schedule Total operating and administrative expenses. Add lines 13 through 23. a Total expenses and disbursements. Add lines 24 and 25 Subtract line 26 from line 12 Excess of revenue over expenses and disbursements Net investment income if negative enter -0-....Adjusted net income if negative enter -0-. For Paperwork Reduction Act Notice see instructions. a Revenue and expenses per books.

Instructions and Help about IRS 990-PF

How to edit IRS 990-PF

How to fill out IRS 990-PF

Instructions and Help about IRS 990-PF

How to edit IRS 990-PF

To edit IRS 990-PF form, use a PDF editor that allows you to make changes to text fields, checkboxes, and other components of the form. Ensure that all information matches your original filing, as discrepancies can lead to processing delays. You can easily upload the form to pdfFiller for quick editing and adjustments.

How to fill out IRS 990-PF

To fill out IRS 990-PF, follow these steps:

1. Download the IRS 990-PF form from the IRS website.
2. Provide the organization's name and address at the top of the form.
3. Enter the appropriate tax year details in the designated sections.
4. Complete the financial statements, including income, expenses, and assets.
5. Sign and date the form before submitting it to the IRS.

Latest updates to IRS 990-PF

Latest updates to IRS 990-PF

Stay informed about updates to IRS 990-PF, including changes to filing requirements or deadlines that could affect your organization. Regularly checking the IRS website or consulting with a tax professional can help ensure compliance.

All You Need to Know About IRS 990-PF

What is IRS 990-PF?

What is the purpose of this form?

Who needs the form?

When am I exempt from filling out this form?

Components of the form

Due date

What are the penalties for not issuing the form?

What information do you need when you file the form?

Is the form accompanied by other forms?

Where do I send the form?

All You Need to Know About IRS 990-PF

What is IRS 990-PF?

IRS 990-PF is a tax form specifically designed for private foundations to report their financial activities to the IRS. The form provides details about the foundation's income, expenditures, and investments, ensuring transparency and accountability in their operations.

What is the purpose of this form?

The purpose of IRS 990-PF is to provide the IRS with information about a private foundation's financial status and compliance with tax regulations. This form helps maintain the integrity of tax-exempt organizations by requiring detailed reporting of financial activities and charitable distributions.

Who needs the form?

Private foundations are required to file IRS 990-PF. This includes both domestic and foreign foundations operating in the U.S. It is mandatory for any organization classified as a private foundation under IRS regulations, as it helps prove compliance with tax laws and regulations.

When am I exempt from filling out this form?

Organizations are generally exempt from filing IRS 990-PF if their gross receipts are normally not over $200,000 and total assets are not over $500,000. However, small private foundations must still file a Form 990-N, even if they meet these thresholds.

Components of the form

IRS 990-PF consists of several key components including:

1. Basic information about the organization
2. Financial data regarding income and expenses
3. Details of charitable distributions and grants
4. Investment activities and assets
5. Signature block for authorized personnel

Due date

The IRS 990-PF is typically due on the 15th day of the 5th month after the end of the organization’s fiscal year. Extensions may be requested using Form 8868, allowing an additional six months to file.

What are the penalties for not issuing the form?

Failure to file IRS 990-PF by the due date can result in penalties, ranging from $20 to $100 per day depending on the size of the foundation’s assets. Additionally, if a foundation does not file for three consecutive years, it may lose its tax-exempt status.

What information do you need when you file the form?

When filing IRS 990-PF, you will need comprehensive financial records including income statements, balance sheets, and documentation of charitable distributions. Accurate preparation of these documents ensures compliance and can prevent penalties.

Is the form accompanied by other forms?

While IRS 990-PF is a standalone form, it may be accompanied by schedules that provide additional details about financial activities, such as Schedule A for public charity contributions and Schedule B for contributors. Ensure that all associated schedules are completed and submitted together.

Where do I send the form?

Completed IRS 990-PF forms should be mailed to the IRS at the address specified in the form's instructions. Generally, organizations can send their forms to the appropriate IRS service center based on the state where the foundation is located.

FAQ about IRS 990-PF

What should I do if I discover mistakes on my IRS 990-PF after submission?

If you notice errors on your filed IRS 990-PF, you should file an amended return by completing a new version of the form, clearly labeling it as an amendment. Ensure that you correct all inaccuracies and include the necessary accompanying information, if applicable. This process helps maintain compliance and accuracy in your reporting.

How can I check the status of my IRS 990-PF submission?

To verify the status of your IRS 990-PF submission, you may contact the IRS directly or use online tools if available. Keep your submission confirmation or other related information handy to facilitate the tracking process. Remember to check for common rejection codes if you filed electronically, as these indicate specific issues to address.

What are some common errors to avoid when filing the IRS 990-PF?

Common pitfalls when filing the IRS 990-PF include incorrect calculations, failure to sign the form, and neglecting to provide required disclosures. It's crucial to double-check your figures and ensure all necessary documentation accompanies your submission to prevent rejections or delays.

What should I do if I receive a notice from the IRS regarding my IRS 990-PF?

If you receive a notice related to your IRS 990-PF, carefully review the document for specifics and respond promptly. Gather any requested documentation or explanations, and follow guidance provided in the notice to ensure accurate resolutions. Having your original filing and any amendments on hand will aid your response.