Form 990-PF

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Form 990-PF

A form that some private foundations file with the IRS to report the tax owed on their investment income, as well as to report grants and other charitable distributions made during the tax year.
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The data include Form 990, Form 990-EZ and Form 990-PF and related schedules, except for some donor information.
While a company foundation's expenditures are typically driven by the company's marketing, public affairs, or corporate social responsibility departments, corporate tax managers who are responsible for the foundation's annual Form 990-PF tax return also have a vital interest in its effective and tax-compliant operation.
Nonprofit private foundations, which are also tax exempt under section 501(c)(3) (and included in the number of active organizations mentioned above), file Form 990-PF, Return of Private Foundation, and are not included in these statistics.
The Exempt Organizations Committee followed up its Form 990 extension win with suggestions to the IRS on how to simplify Form 990-PF, the tax form private foundations must file--a form that hasn't been updated since the 1970s.
The organization can expect that it will take a while to get approval when it submits Form 1023, but it must file the Form 990-PF in the meantime.
A private foundation filing Form 990-PF, Return of Private Foundation, should consider reporting diversions in Part WI-B, "Statements Regarding Activities for Which Form 4720 May Be Required.
Versions of this form include 990-EZ, 990-PF, 990-T, and 990-N (also commonly known as "the e-postcard," which can only be filed electronically).
But its 2008 IRS Form 990-PF, the latest available, notes $43.
Your corporation must also plan to file annual reports: Form CT-12 with the Attorney General's Office and Forms 990 or 990EZ or 990-PF and Form 990-N with the IRS.
The IRS has not revised the tax information Form 990-PF filed by private foundations to include the questions added to the Form 990.
The private foundation files information returns IRS Form 990-PF, "Return of Private Foundation") annually.