IRS Form 990-PF

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IRS Form 990-PF

When corporations and private foundations invest funds and assets that bring income, they need to prepare and reflect these aspects in Forms 990-PF, known as the Return of Private Foundation. The document discloses info regarding annual revenue, distribution, and transaction aspects. The focal area of this paperwork sounds as follows:

  • To compute the tax amounts from investment revenue.
  • To reflect charitable and grant distributions and describe beneficial activities.

Other IRS Forms for Charities and Nonprofits

Along with charitable distributions and activities, there might be some other information you would want to report to the IRS. Check some other IRS forms for charities and nonprofits here.


How to Fill Out IRS Form 990-PF

You are empowered to generate and download essential PDF templates using our advanced software. Before you start completing the 990-PF, pay attention not to include the declarant’s social security number. Some sensitive data may be endangered by exposing the document publically.

Download an Updated Template

Use the PDF template relating to the period at issue. Do not mention the year of the pattern we provide in the supporting image, as the screenshot is used as an example only.

Specify the Foundation

Begin completing the paper by specifying the private foundation. Include the following data:

  • Business name
  • Mailing address (room number, street, city, state, ZIP code). If mail is not served to the address, enter the P. O. Box details.
  • Contact phone number

If the foundation is recognized under another name, print the alternative after the legal data.

step 2 specify the foundation - filling out an irs form 990-pf

Submit the EIN

Fill in your employer ID number. Remember not to disclose your SSN.

step 3 submit the ein - filling out an irs form 990-pf

Define If the Declarant Applied for Exemptions

If you have an active claim for tax privileges and are awaiting the response, checkbox Unit C.

step 4 define if the declarant applied for exemptions - filling out an irs form 990-pf

Determine the Foreign Status of Your Organization

If the foundation can be qualified as a foreign entity, complete Unit D (1-2).

step 5 determine the foreign status of your organization - filling out an irs form 990-pf

Define the Private Foundation Status

Should the company terminate its private status, reflect the correct data in Unit E and F.

step 6 define the private foundation status - filling out an irs form 990-pf

Clarify the Reason for Filling Out the Form

In Unit G, the preparer needs to check the box that reflects their initial reason for completing the 990-PF return.

step 7 clarify the reason for filling out the form - filling out an irs form 990-pf

Specify Your Foundation Type

Unit H is needed to define for what type your foundation is qualified. Select and tick the correct alternative.

step 8 specify your foundation type - filling out an irs form 990-pf

Complete Unit I

Insert the needed amount relying on the data provided on line 16.

step 9 complete unit i - filling out an irs form 990-pf

Determine the Accounting Method

Revise Unit J and select the appropriate alternative.

step 10 determine the accounting method - filling out an irs form 990-pf

Complete Revenue and Expenses Part

This section covers Units 1 through 27 (a, b, c) and is determined to clarify the income and losses during the reporting period at issue. Complete each line, specifying the needed info in the four columns opposite the units. Avoid grey-colored boxes and leave them empty.

step 11 complete revenue and expenses part - filling out an irs form 990-pf

Subtract Total Losses from Total Income

Use Unit 27 (a, b, c) to calculate and record the net investment and adjusted net gainings.

step 12 subtract total losses from total income - filling out an irs form 990-pf

Clarify the Balance Data Section

In Part II, the preparer should enter the balance data referencing the beginning and the end of the taxation period at issue. Fill out the table listing the following:

  • Property and funds
  • Expenses and liabilities
  • Net balances

step 13 clarify the balance data section - filling out an irs form 990-pf

Submit the Breakdown of Adjustments in Balances

Here, you should calculate and add the required info. Use the boxes opposite each unit to complete the breakdown.

step 14 submit the breakdown of adjustments in balances - filling out an irs form 990-pf

Calculate the Capital Income

Part IV is meant to help preparers calculate the amounts of capital income submitted in Unit 7-8 of Part I. If you are a foreign organization, skip this section. Follow the instructions of each section to list and describe the traded assets. Use lines 2 and 3 at the end of Part IV to record the calculated amounts and report them in lines 7-8 of Part I.

step 15 calculate the capital income - filling out an irs form 990-pf

Skip Part V

As § 4940 (e) was rescinded in 2019, you don’t need to fill out Part V. Leave the section blank and proceed to the next segment.

step 16 skip part v - filling out an irs form 990-pf

Provide Excise Tax Details

In Part VI, the declarant should give excise tax specifications relying on gains from investments. Calculate the tax and submit the data on the corresponding lines.

step 17 provide excise tax details - filling out an irs form 990-pf

Complete the Statements Regarding Activities Poll

Provide positive, negative, or “not applicable” regarding each unit in Parts VII-A. Fulfill similar actions in Part VII-B. Should you answer positively to questions 1 (b, c), 2 (b), 3 (b), 4 (a, b), 5 (b), 6 (b), 7 (b), or 8, prepare and report Form 4720, if you have no exception status.

List the Authorized Directors, Foundation Managers, Trustees

Here, the preparer should enter the names, domiciliary addresses, title, and payments of all foundation managers, directors, and other employees and contractors of equally high positions.

step 19 list the authorized directors, foundation managers, trustees - filling out an irs form 990-pf

List the Employees of the Foundation with the Highest Compensation

Fill out Unit 2 of Part VIII by identifying the highest-paid workers different from the individuals indicated in the previous section. If not applicable, enter “None” and proceed to the next part.

step 20 list the employees of the foundation with the highest compensation - filling out an irs form 990-pf

Identify the Independent Contractors with the Highest Payments

Here, you are encouraged to submit the names, addresses, type of service, and revenue amounts of the five highest-paid independent contractors who have earned over 50,000 USD.

step 21 identify the independent contractors with the highest payments - filling out an irs form 990-pf

Describe the Foundations Charity and Grant Programs

In Part IX (A and B), the preparer should list the essential charitable programs, grants, and other alike activities founded and operated by the foundation. Use section B to speak about educational and low-interest loans offered to other individuals and companies.

step 22 describe the foundations charity and grant programs - filling out an irs form 990-pf

Calculate the Minimum Investment Return

All domestic organizations should fulfill Part X to clarify the minimum return from investments that are not engaged in charitable and beneficial programs.

step 23 calculate the minimum investment return - filling out an irs form 990-pf

Revise Distributable Amount Section

Pay attention to the preview of Part XI: if the foundation is qualifying to checkbox the referenced slot under § 4942 (j) (3) of the U. S. Code, you should leave this section blank and proceed to the next unit. Otherwise, ensure to submit the inherent data.

step 24 revise distributable amount section - filling out an irs form 990-pf

Specify the Foundation’s Qualifying Dispositions

In Part XII, the declarant should enter authentic data regarding amounts assigned to cover educational, charitable, religious, and other related targets.

step 25 specify the foundation’s qualifying dispositions - filling out an irs form 990-pf

Determine the Undisposed Gains

Skip this part if you have ticked Unit D2 at the beginning of the document. The major purpose of this section is to follow the directions for applying the organization’s qualifying distributions during the period at issue.

step 26 determine the undisposed gains - filling out an irs form 990-pf

Fulfill Private Operating Foundation Part

Any company that challenges the private operating foundation rank should complete the referenced table, describing the tax period at issue, periods three years preceding it, and their total.

step 27 fulfill private operating foundation part - filling out an irs form 990-pf

Furnish Supplementary Info Tables

Before you proceed to fill out the tables, ensure to complete the Part XV heading statements.

step 28.1 furnish supplementary info tables - filling out an irs form 990-pf

The preparers should fill out this section only if their corporation assets equal 5,000 USD and more at any time during the tax period at issue. In Unit 3 (a), enter the recipients, type of grants, and contributions invested during the year. In Unit 3 (b), specify the donations and grants that should be paid in the future.

step 28.2 furnish supplementary info tables - filling out an irs form 990-pf

Analyze Income

In Part XVI-A, the declarant is empowered to provide an analysis of assets and activities that resulted in income during the taxation year. Use the IRS Code system to assign the correct abbreviation. Fulfill the table, indicating the unrelated, excluded, and related revenue.

step 29 analyze income - filling out an irs form 990-pf

Explain the Related Revenue Activities

Use section XVI-B to explain any exempt function or related revenue activities indicated in column “e” of the part above.

step 30 explain the related revenue activities - filling out an irs form 990-pf

Specify Assets Transfers with Noncharitable Exempt Associations

Part XVII is devoted to covering the relationships with the noncharitable associations regarding any monetary and property transfers and transactions. Select “Yes” or “No” opposite each statement and explain each item in the columns below.

step 31.1 specify assets transfers with noncharitable exempt associations - filling out an irs form 990-pf

When completing Unit 2 (b) of the current part, ensure you have selected “Yes.” Enter the organization’s data:

  • Name
  • Type
  • How it relates to your foundation

step 31.2 specify assets transfers with noncharitable exempt associations - filling out an irs form 990-pf

Otherwise, leave the segment blank.

Acknowledge the Paperwork

To authorize the form, the preparer (either the officer or trustee) must append their signature, date the document, and disclose the title.

step 32 acknowledge the paperwork - filling out an irs form 990-pf

Appoint the Paid Preparer

If the foundation hires a licensed specialist to fill out the form, submit their data as follows:

  • Name (typed or printed)
  • Signature
  • Date
  • Self-employment status (if applicable)
  • PTIN

It’s vital not to submit the preparer’s SSN, as the document may be disclosed publicly.

  • The preparer’s employer name, address, contact phone, and EIN

step 33 appoint the paid preparer - filling out an irs form 990-pf

Once the document is ready and served, the paid preparer should provide the foundation with a copy.

Authorize the IRS to Discuss the Paperwork with the Preparer

If you wish to allow the IRS to negotiate any statements of the disclosed data, select “Yes.”

step 34 authorize the irs to discuss the paperwork with the preparer - filling out an irs form 990-pf