IRS Form 990-PF "Return of Private Foundation or Section 4947(A)(1) Trust Treated as Private Foundation"

What Is IRS Form 990-PF?

IRS Form 990-PF, Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation, is used to calculate the tax on investment income and to report charitable activities and distributions. This form can also substitute Form 1041, U.S. Income Tax Return for Estates and Trusts, if the trust does not have any taxable income.

Alternate Name:

  • Private Foundation Tax Return.

This form was issued by the Internal Revenue Service (IRS) and the last revision of the form was in 2019. You can find a 990-PF fillable form to download below.

Who Must File Form 990-PF?

An IRS 990-PF Form must be filed by:

  1. Exempt and taxable private foundations.
  2. Organizations that agree to private foundation status with pending applications for exempt status.
  3. Nonexempt charitable trusts under section 4947(a)(1) that are treated as private foundations.
  4. Organizations that made an election under section 41(e)(6)(D)(iv).
  5. Private foundations that make a section 507(b) termination.
  6. Organizations that request private foundation status, haven't claimed exempt status yet, and whose application is eligible for retroactive recognition of exemption.
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How to Fill out Form 990-PF?

Fill out Tax Form 990-PF using the following tips:

  1. Fill out all the applicable parts of the form. The required parts for all the organizations are Heading, Part I Column A, Part II Columns A and B, Part III, Part VII-A and B, Part VIII, Part IX A and B, Part XVI-A and B, Part XVII, and Signature Block. Check the chart provided in the instruction file to determine the parts your specific organization must file.
  2. To avoid filing an incomplete return, answer "Yes," "No," or "N/A" to every question on the form.
  3. Make an entry on all total lines. If the result is a zero, enter it anyway.
  4. Report all amounts in U.S. dollars.
  5. If an entire part does not apply, indicate "None" or "N/A."
  6. Provide all the information in English only.

IRS Form 990-PF Instructions

The due date for Form 990-PF falls on the 15th day of the 5th month after the end of the tax year or after a complete liquidation, dissolution, or termination of your foundation. If the deadline falls on a Saturday, Sunday, or a legal holiday, it will be automatically extended to the next business day. If you do not file the IRS Form 990-PF timely and completely, the IRS will charge a $20 penalty for each day you are late. The general amount of penalty for one return form will not exceed $10,000 or 5% of the organization's yearly gross receipts, whichever is less.

However, if your organization is considered as large (the gross receipts exceed $1,046,500 for the tax year), you will have to pay $100 for every day you fail to file the form. The maximum amount, in this case, will go up to $52,000. You can use Form 8868 to apply for an extension to file. The extension will be provided if you complete the form, submit it, and pay the balance due by the filing deadline.

You can file an IRS 990-PF Form by private delivery, mail, or electronically. At the same time, if you file at least 250 returns during the calendar year, you can only file your forms electronically. You can find more detailed instructions for Form 990-PF here or on the IRS website. The instruction file contains a detailed filling out guide, examples, and mailing addresses.


IRS 990-PF Related Forms:

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990-PF
Return of Private Foundation
OMB No. 1545-0047
Form
2019
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.
Department of the Treasury
Internal Revenue Service
Open to Public Inspection
Go to www.irs.gov/Form990PF for instructions and the latest information.
For calendar year 2019 or tax year beginning
, 2019, and ending
, 20
A Employer identification number
Name of foundation
Number and street (or P.O. box number if mail is not delivered to street address)
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:
Initial return
Initial return of a former public charity
D 1. Foreign organizations, check here .
.
.
Amended return
Final return
2. Foreign organizations meeting the 85% test,
Address change
Name change
.
.
check here and attach computation
H Check type of organization:
Section 501(c)(3) exempt private foundation
E If private foundation status was terminated under
section 507(b)(1)(A), check here
.
.
.
.
Section 4947(a)(1) nonexempt charitable trust
Other taxable private foundation
I
J Accounting method:
Cash
Accrual
Fair market value of all assets at
F If the foundation is in a 60-month termination
end of year (from Part II, col. (c),
Other (specify)
under section 507(b)(1)(B), check here
.
.
line 16)
$
(Part I, column (d), must be on cash basis.)
Part I
Analysis of Revenue and Expenses
(The total of
(d) Disbursements
(a) Revenue and
(b) Net investment
(c) Adjusted net
for charitable
amounts in columns (b), (c), and (d) may not necessarily equal
expenses per
income
income
purposes
books
the amounts in column (a) (see instructions).)
(cash basis only)
1
Contributions, gifts, grants, etc., received (attach schedule)
2
Check
if the foundation is not required to attach Sch. B
3
Interest on savings and temporary cash investments
4
Dividends and interest from securities .
.
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5a Gross rents .
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b Net rental income or (loss)
6a Net gain or (loss) from sale of assets not on line 10
b Gross sales price for all assets on line 6a
7
Capital gain net income (from Part IV, line 2) .
.
8
Net short-term capital gain .
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9
Income modifications
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10a Gross sales less returns and allowances
b Less: Cost of goods sold
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.
c Gross profit or (loss) (attach schedule) .
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11
Other income (attach schedule)
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12
Total. Add lines 1 through 11 .
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13
Compensation of officers, directors, trustees, etc.
14
Other employee salaries and wages .
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15
Pension plans, employee benefits
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16a Legal fees (attach schedule)
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b Accounting fees (attach schedule)
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c Other professional fees (attach schedule) .
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17
Interest
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18
Taxes (attach schedule) (see instructions) .
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19
Depreciation (attach schedule) and depletion .
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20
Occupancy .
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21
Travel, conferences, and meetings
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22
Printing and publications
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23
Other expenses (attach schedule)
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24
Total operating and administrative expenses.
Add lines 13 through 23 .
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25
Contributions, gifts, grants paid
.
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26
Total expenses and disbursements. Add lines 24 and 25
27
Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements
b Net investment income (if negative, enter -0-)
.
c Adjusted net income (if negative, enter -0-) .
.
990-PF
For Paperwork Reduction Act Notice, see instructions.
Form
(2019)
Cat. No. 11289X
990-PF
Return of Private Foundation
OMB No. 1545-0047
Form
2019
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.
Department of the Treasury
Internal Revenue Service
Open to Public Inspection
Go to www.irs.gov/Form990PF for instructions and the latest information.
For calendar year 2019 or tax year beginning
, 2019, and ending
, 20
A Employer identification number
Name of foundation
Number and street (or P.O. box number if mail is not delivered to street address)
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:
Initial return
Initial return of a former public charity
D 1. Foreign organizations, check here .
.
.
Amended return
Final return
2. Foreign organizations meeting the 85% test,
Address change
Name change
.
.
check here and attach computation
H Check type of organization:
Section 501(c)(3) exempt private foundation
E If private foundation status was terminated under
section 507(b)(1)(A), check here
.
.
.
.
Section 4947(a)(1) nonexempt charitable trust
Other taxable private foundation
I
J Accounting method:
Cash
Accrual
Fair market value of all assets at
F If the foundation is in a 60-month termination
end of year (from Part II, col. (c),
Other (specify)
under section 507(b)(1)(B), check here
.
.
line 16)
$
(Part I, column (d), must be on cash basis.)
Part I
Analysis of Revenue and Expenses
(The total of
(d) Disbursements
(a) Revenue and
(b) Net investment
(c) Adjusted net
for charitable
amounts in columns (b), (c), and (d) may not necessarily equal
expenses per
income
income
purposes
books
the amounts in column (a) (see instructions).)
(cash basis only)
1
Contributions, gifts, grants, etc., received (attach schedule)
2
Check
if the foundation is not required to attach Sch. B
3
Interest on savings and temporary cash investments
4
Dividends and interest from securities .
.
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.
5a Gross rents .
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b Net rental income or (loss)
6a Net gain or (loss) from sale of assets not on line 10
b Gross sales price for all assets on line 6a
7
Capital gain net income (from Part IV, line 2) .
.
8
Net short-term capital gain .
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9
Income modifications
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10a Gross sales less returns and allowances
b Less: Cost of goods sold
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.
c Gross profit or (loss) (attach schedule) .
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11
Other income (attach schedule)
.
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12
Total. Add lines 1 through 11 .
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13
Compensation of officers, directors, trustees, etc.
14
Other employee salaries and wages .
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15
Pension plans, employee benefits
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16a Legal fees (attach schedule)
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b Accounting fees (attach schedule)
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c Other professional fees (attach schedule) .
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17
Interest
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18
Taxes (attach schedule) (see instructions) .
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19
Depreciation (attach schedule) and depletion .
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20
Occupancy .
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21
Travel, conferences, and meetings
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22
Printing and publications
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23
Other expenses (attach schedule)
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24
Total operating and administrative expenses.
Add lines 13 through 23 .
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25
Contributions, gifts, grants paid
.
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26
Total expenses and disbursements. Add lines 24 and 25
27
Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements
b Net investment income (if negative, enter -0-)
.
c Adjusted net income (if negative, enter -0-) .
.
990-PF
For Paperwork Reduction Act Notice, see instructions.
Form
(2019)
Cat. No. 11289X
2
Form 990-PF (2019)
Page
Part II
Balance Sheets
Beginning of year
End of year
Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)
(a) Book Value
(b) Book Value
(c) Fair Market Value
1
Cash—non-interest-bearing
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2
Savings and temporary cash investments .
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3
Accounts receivable
Less: allowance for doubtful accounts
4
Pledges receivable
Less: allowance for doubtful accounts
5
Grants receivable .
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6
Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)
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7
Other notes and loans receivable (attach schedule)
Less: allowance for doubtful accounts
8
Inventories for sale or use .
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9
Prepaid expenses and deferred charges
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10a Investments—U.S. and state government obligations (attach schedule)
b Investments—corporate stock (attach schedule) .
.
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.
c Investments—corporate bonds (attach schedule)
.
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.
11
Investments—land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
12
Investments—mortgage loans .
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13
Investments—other (attach schedule)
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14
Land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
15
Other assets (describe
)
16
Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I)
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17
Accounts payable and accrued expenses .
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18
Grants payable .
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19
Deferred revenue .
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20
Loans from officers, directors, trustees, and other disqualified persons
21
Mortgages and other notes payable (attach schedule) .
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22
Other liabilities (describe
)
23
Total liabilities (add lines 17 through 22) .
.
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.
Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29, and 30.
24
Net assets without donor restrictions
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25
Net assets with donor restrictions
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Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26
Capital stock, trust principal, or current funds .
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27
Paid-in or capital surplus, or land, bldg., and equipment fund
28
Retained earnings, accumulated income, endowment, or other funds
29
Total net assets or fund balances (see instructions) .
.
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30
Total
liabilities
and
net
assets/fund
balances
(see
instructions) .
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Part III
Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with
end-of-year figure reported on prior year’s return) .
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1
2 Enter amount from Part I, line 27a
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2
3 Other increases not included in line 2 (itemize)
3
4 Add lines 1, 2, and 3 .
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4
5 Decreases not included in line 2 (itemize)
5
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
.
6
990-PF
Form
(2019)
3
Form 990-PF (2019)
Page
Part IV
Capital Gains and Losses for Tax on Investment Income
(b) How acquired
(a) List and describe the kind(s) of property sold (for example, real estate,
(c) Date acquired
(d) Date sold
P—Purchase
2-story brick warehouse; or common stock, 200 shs. MLC Co.)
(mo., day, yr.)
(mo., day, yr.)
D—Donation
1a
b
c
d
e
(f) Depreciation allowed
(g) Cost or other basis
(h) Gain or (loss)
(e) Gross sales price
(or allowable)
plus expense of sale
((e) plus (f) minus (g))
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69.
(l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
(j) Adjusted basis
(k) Excess of col. (i)
(i) FMV as of 12/31/69
Losses (from col. (h))
as of 12/31/69
over col. (j), if any
a
b
c
d
e
{
}
If gain, also enter in Part I, line 7
2
Capital gain net income or (net capital loss)
2
If (loss), enter -0- in Part I, line 7
3
Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
}
If gain, also enter in Part I, line 8, column (c). See instructions. If (loss), enter -0- in
Part I, line 8 .
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3
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
Yes
No
If “Yes,” the foundation doesn’t qualify under section 4940(e). Do not complete this part.
1
Enter the appropriate amount in each column for each year; see the instructions before making any entries.
(a)
(d)
(b)
(c)
Base period years
Distribution ratio
Adjusted qualifying distributions
Net value of noncharitable-use assets
Calendar year (or tax year beginning in)
(col. (b) divided by col. (c))
2018
2017
2016
2015
2014
2
Total of line 1, column (d)
2
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3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by
the number of years the foundation has been in existence if less than 5 years
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3
4
4
Enter the net value of noncharitable-use assets for 2019 from Part X, line 5 .
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5
Multiply line 4 by line 3
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5
6
Enter 1% of net investment income (1% of Part I, line 27b)
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6
7
7
Add lines 5 and 6 .
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8
Enter qualifying distributions from Part XII, line 4 .
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8
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the
Part VI instructions.
990-PF
Form
(2019)
4
Form 990-PF (2019)
Page
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
}
1a Exempt operating foundations described in section 4940(d)(2), check here
and enter “N/A” on line 1.
Date of ruling or determination letter:
(attach copy of letter if necessary—see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check
1
here
and enter 1% of Part I, line 27b
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c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations, enter 4% of
Part I, line 12, col. (b) .
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2
2
Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only; others, enter -0-)
3
Add lines 1 and 2 .
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3
4
Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only; others, enter -0-)
4
5
Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .
5
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6
Credits/Payments:
a 2019 estimated tax payments and 2018 overpayment credited to 2019
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6a
b Exempt foreign organizations—tax withheld at source .
6b
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c Tax paid with application for extension of time to file (Form 8868)
6c
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d Backup withholding erroneously withheld
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6d
7
Total credits and payments. Add lines 6a through 6d
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7
8
Enter any penalty for underpayment of estimated tax. Check here
8
if Form 2220 is attached
9
Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed
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9
10
Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid .
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10
11
Enter the amount of line 10 to be: Credited to 2020 estimated tax
Refunded
11
Part VII-A
Statements Regarding Activities
Yes No
1 a During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it
1a
participate or intervene in any political campaign?
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b Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the
instructions for the definition
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1b
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c Did the foundation file Form 1120-POL for this year?
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1c
d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation.
$
(2) On foundation managers.
$
e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.
$
2
2
Has the foundation engaged in any activities that have not previously been reported to the IRS? .
.
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.
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes .
3
4a Did the foundation have unrelated business gross income of $1,000 or more during the year? .
4a
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b If “Yes,” has it filed a tax return on Form 990-T for this year? .
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4b
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?
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5
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
• By language in the governing instrument, or
• By state legislation that effectively amends the governing instrument so that no mandatory directions that
conflict with the state law remain in the governing instrument?
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6
7
Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV
7
8a Enter the states to which the foundation reports or with which it is registered. See instructions.
b If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General
(or designate) of each state as required by General Instruction G? If “No,” attach explanation .
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8b
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or
4942(j)(5) for calendar year 2019 or the tax year beginning in 2019? See the instructions for Part XIV. If “Yes,”
complete Part XIV .
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9
10
Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their
names and addresses .
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10
990-PF
Form
(2019)
5
Form 990-PF (2019)
Page
Part VII-A
Statements Regarding Activities (continued)
Yes
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If “Yes,” attach schedule. See instructions
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11
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified
person had advisory privileges? If “Yes,” attach statement. See instructions .
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12
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Website address
14
The books are in care of
Telephone no.
Located at
ZIP+4
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041—check here .
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and enter the amount of tax-exempt interest received or accrued during the year .
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15
Yes
No
16
At any time during calendar year 2019, did the foundation have an interest in or a signature or other authority
16
over a bank, securities, or other financial account in a foreign country?.
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See the instructions for exceptions and filing requirements for FinCEN Form 114. If “Yes,” enter the name of
the foreign country
Part VII-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
Yes
No
1a During the year, did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person?
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Yes
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a
disqualified person? .
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Yes
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? .
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Yes
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
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Yes
No
(5) Transfer any income or assets to a disqualified person (or make any of either available for
the benefit or use of a disqualified person)?
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Yes
No
(6) Agree to pay money or property to a government official? (Exception. Check “No” if the
foundation agreed to make a grant to or to employ the official for a period after
termination of government service, if terminating within 90 days.) .
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Yes
No
b If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in
Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions
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1b
Organizations relying on a current notice regarding disaster assistance, check here
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c Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts, that
were not corrected before the first day of the tax year beginning in 2019?
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1c
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a At the end of tax year 2019, did the foundation have any undistributed income (Part XIII, lines
6d and 6e) for tax year(s) beginning before 2019?
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Yes
No
If “Yes,” list the years
20
, 20
, 20
, 20
b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2) to
all years listed, answer “No” and attach statement—see instructions.) .
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2b
c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20
, 20
, 20
, 20
3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise
at any time during the year? .
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Yes
No
b If “Yes,” did it have excess business holdings in 2019 as a result of (1) any purchase by the foundation or
disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the
Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of
the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine if the
foundation had excess business holdings in 2019.) .
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3b
4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
b Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2019?
4b
990-PF
Form
(2019)
Page of 13