Instructions for Form 990-PF

2025

Instructions for Form 990-PF

Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private

Foundation

Section references are to the Internal Revenue Code unless

otherwise noted.

Contents

Page

General Instructions . . . . . . . . . . . . . . . . . . . . . . . . . 2

A. Who Must File . . . . . . . . . . . . . . . . . . . . . . . . 2

B. Which Parts To Complete . . . . . . . . . . . . . . . . 2

C. Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

D. Other Forms You May Need To File . . . . . . . . . 4

E. Useful Publications . . . . . . . . . . . . . . . . . . . . . 6

F. Use of Form 990-PF To Satisfy State

Reporting Requirements . . . . . . . . . . . . . . . . . 6

G. Furnishing Copies of Form 990-PF to State

Officials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

H. Accounting Period . . . . . . . . . . . . . . . . . . . . . 7

I. Accounting Methods . . . . . . . . . . . . . . . . . . . . 7

J. When and How To File . . . . . . . . . . . . . . . . . . . 8

K. Extension of Time To File . . . . . . . . . . . . . . . . 8

L. Amended Return . . . . . . . . . . . . . . . . . . . . . . . 8

M. Penalty for Failure To File Timely,

Completely, or Correctly . . . . . . . . . . . . . . . . . 8

N. Additions to Tax for Not Paying Tax on

Time . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

O. Figuring and Paying Estimated Tax . . . . . . . . . 9

P. Tax Payment Methods for Domestic Private

Foundations . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Q. Public Inspection Requirements . . . . . . . . . . . 9

R. Disclosures Regarding Certain Information

and Services Furnished . . . . . . . . . . . . . . . . . 12

S. Organizations Organized or Created in a

Foreign Country . . . . . . . . . . . . . . . . . . . . . . 12

T. Liquidation, Dissolution, Termination, or

Substantial Contraction . . . . . . . . . . . . . . . . . 12

U. Section 507(b)(1)(B) Termination—Notice

and Filing Requirements . . . . . . . . . . . . . . . . 13

V. Payment of Section 4940 Tax During

Section 507(b)(1)(B) Termination . . . . . . . . . . 13

W. Rounding, Currency, and Attachments . . . . . . 13

Specific Instructions . . . . . . . . . . . . . . . . . . . . . . . . 14

Heading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Part I. Analysis of Revenue and Expenses . . . . . 14

Part II. Balance Sheets . . . . . . . . . . . . . . . . . . . 20

Part III. Analysis of Changes in Net Assets or

Fund Balances . . . . . . . . . . . . . . . . . . . . . . . 22

Part IV. Capital Gains and Losses for Tax on

Investment Income . . . . . . . . . . . . . . . . . . . . 22

Part V. Excise Tax Based on Investment

Income (Section 4940(a), 4940(b), or

4948) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Part VI-A. Statements Regarding Activities . . . . . 24

Jan 15, 2026

Contents

Page

Part VI-B. Statements Regarding Activities for

Which Form 4720 May Be Required . . . . . . . . 27

Part VII. Information About Officers, Directors,

Trustees, Foundation Managers, Highly

Paid Employees, and Contractors . . . . . . . . . 28

Part VIII-A. Summary of Direct Charitable

Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

Part VIII-B. Summary of Program-Related

Investments . . . . . . . . . . . . . . . . . . . . . . . . . 30

Part IX. Minimum Investment Return . . . . . . . . . . 30

Part X. Distributable Amount . . . . . . . . . . . . . . . 32

Part XI. Qualifying Distributions . . . . . . . . . . . . . 32

Part XII. Undistributed Income . . . . . . . . . . . . . . 32

Part XIII. Private Operating Foundations . . . . . . . 34

Part XIV. Supplementary Information . . . . . . . . . 35

Part XV-A. Analysis of Income-Producing

Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Part XV-B. Relationship of Activities to the

Accomplishment of Exempt Purposes . . . . . . 36

Part XVI. Information Regarding Transfers to

and Transactions and Relationships With

Noncharitable Exempt Organizations . . . . . . . 36

Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

Paid Preparer . . . . . . . . . . . . . . . . . . . . . . . . . . 37

Paid Preparer Authorization . . . . . . . . . . . . . . . . . . . 37

How To Get Forms and Publications . . . . . . . . . . . . . 38

Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Future Developments

For the latest information about developments related to Form

990-PF and its instructions, such as legislation enacted after

they were published, go to IRS.gov/Form990PF.

What’s New

Electronic payments. The United States is transitioning from

paper-based payments (including checks and money orders) to

and from the federal government to electronic payments in order

to improve efficiency and prevent delays, risks of fraud, lost

payments, and theft.

Reminders

Pub. 15-T. Pub. 15-T, Federal Income Tax Withholding Methods,

contains the federal income tax withholding tables that were

previously provided in Pubs. 15 and 15-A and explains how to

use the tables.

Initial Form 990-PF by former public charity. If you are filing

Form 990-PF because you no longer meet a public support test

under section 509(a)(1) and you haven't previously filed Form

990-PF, check Initial return of a former public charity in Item G of

the Heading section on page 1 of your return. Before filing Form

990-PF for the first time, you may want to go to IRS.gov/EO for

Instructions for Form 990-PF (2025) Catalog Number 11290Y

Department of the Treasury Internal Revenue Service www.irs.gov

the latest information and filing tips to confirm you are no longer

a publicly supported organization.

Automatic revocation. Most tax-exempt organizations are

required to file an annual Form 990, 990-EZ, or 990-PF with the

IRS, or to submit a Form 990-N e-Postcard to the IRS. For

information on the exception requirement, visit IRS.gov/Annual

Exempt Organizations: Who Must File. If a tax-exempt private

foundation fails to file an annual return as required for 3

consecutive years, it will automatically lose its tax-exempt status

and will become a taxable private foundation. See M. Penalty for

Failure To File Timely, Completely, or Correctly, later.

Don’t include social security numbers on publicly disclosed forms. Because the IRS is required to publicly disclose

the organization's annual information returns, social security

numbers shouldn't be included on this form. Documents subject

to disclosure include schedules and attachments filed with the

form.

Photographs of Missing Children

The IRS is a proud partner with the National Center for Missing &

Exploited Children® (NCMEC). Photographs of missing children

selected by the Center may appear in instructions on pages that

would otherwise be blank. You can help bring these children

home by looking at the photographs and calling

1-800-THE-LOST (1-800-843-5678) if you recognize a child.

Phone Help

If you have questions and/or need help completing this form,

please call 877-829-5500. This toll-free telephone service is

available Monday through Friday.

IRS e-Services Makes Taxes Easier

Now more than ever before, businesses can enjoy the benefits of

filing and paying their federal taxes electronically. Whether you

rely on a tax professional or handle your own taxes, the IRS

offers you convenient programs to make taxes easier.

• You can e-file your Form 990-PF, Form 940 and 941

employment tax returns, and Forms 1099 and other information

returns. Visit IRS.gov/Charities-Non-Profits/Annual-Reportingand-Filing for details.

• You can pay taxes online or by phone using the free Electronic

Federal Tax Payment System (EFTPS). To get more information

about EFTPS or to enroll in EFTPS, visit EFTPS.gov or call

800-555-4477. To contact EFTPS using the Telecommunications

Relay Services (TRS), for people who are deaf, hard of hearing,

or have a speech disability, dial 711 and provide the TRS

assistant the 800-555-4477 number above or 800-733-4829.

• Electronic Funds Withdrawal (EFW) from a checking or

savings account is also available to those who file electronically.

General Instructions

Purpose of form. Form 990-PF is used:

• To figure the tax based on investment income, and

• To report charitable distributions and activities.

Also, Form 990-PF serves as a substitute for the section

4947(a)(1) nonexempt charitable trust's income tax return, Form

1041, U.S. Income Tax Return for Estates and Trusts, when the

trust has no taxable income.

A. Who Must File

Form 990-PF is an annual information return that must be filed by

the following.

• Private foundations exempt under section 501(a) (section

6033(a)).

• Taxable private foundations (section 6033(d)).

2

• Organizations that agree to private foundation status and

whose applications for exempt status are pending on the due

date for filing Form 990-PF.

• Organizations that claim private foundation status, haven't yet

applied for exempt status, and whose applications aren’t yet

untimely under section 508(a) for retroactive recognition of

exemption.

• Organizations that made an election under section 41(e)(6)

(D)(iv).

• Private foundations that are making a section 507(b)

termination.

• Section 4947(a)(1) nonexempt charitable trusts treated as

private foundations (section 6033(d)).

Tip: Include on the foundation's return the financial and other

information of any disregarded entity owned by the foundation.

See Regulations sections 301.7701-1 through 3 for information

on the classification of certain business organizations, including

an eligible entity that is disregarded as an entity separate from its

owner (disregarded entity).

Other section 4947(a)(1) nonexempt charitable trusts.

Section 4947(a)(1) nonexempt charitable trusts not treated as

private foundations don't file Form 990-PF. However, they may

need to file Form 990, Return of Organization Exempt From

Income Tax, or Form 990-EZ, Short Form Return of Organization

Exempt From Income Tax. With either of these forms, the trust

must also file Schedule A (Form 990 or 990-EZ), Public Charity

Status and Public Support, and other required schedules. See

the Form 990 and Form 990-EZ instructions.

B. Which Parts To Complete

See the chart showing which parts of the form must be

completed, later.

How to avoid filing an incomplete return.

• Complete all applicable line items.

• Answer “Yes,” “No,” or “N/A” (not applicable) to each question

on the return.

• Make an entry (including a zero when appropriate) on all total

lines.

• Enter “None” or “N/A” if an entire part doesn't apply.

Sequencing Chart To Complete the Form

You may find the following chart helpful. It limits jumping from

one part of the form to another to figure an amount needed to

complete an earlier part. If you complete the parts in the listed

order below, any information you may need from another part will

already be entered.

Step

Part

Step

Part

1. . . . . . . . . .

2. . . . . . . . . .

3. . . . . . . . . .

4. . . . . . . . . .

5. . . . . . . . . .

6. . . . . . . . . .

7. . . . . . . . . .

IV

I & II

Heading

III

VI-A

VII

VIII-A – X

8. . . . . . . . .

9. . . . . . . . .

10 . . . . . . . .

11 . . . . . . . .

12 . . . . . . . .

13 . . . . . . . .

14 . . . . . . . .

XI, lines 1–4

V

XI, lines 5–6

X

XII

VI-B

XIII – XVI

C. Definitions

1. A private foundation is a domestic or foreign organization

exempt from income tax under section 501(a), described in

section 501(c)(3), and is other than an organization described in

sections 509(a)(1) through (4).

Churches, hospitals, schools, broadly publicly supported

organizations, supporting organizations, and organizations that

test for public safety are excluded from private foundation status

by sections 509(a)(1) through (4). These organizations may be

Instructions for Form 990-PF (2025)

B. Which Parts To Complete

Some parts of the form listed below don't apply to some filers. See How to avoid filing an incomplete return, earlier, for

information on what to do if a part or an item doesn't apply.

Part of Form 990-PF

Foundations Which Must Complete This Part

Heading

All

Part I (analysis of revenues and expenses), columns (a) (revenue and expenses

per books) and (d) (disbursements for charitable purposes)

All

Part I (analysis of revenues and expenses), column (b) (net investment income)

All except (1) foreign taxable foundations, and (2) foreign nonexempt charitable

trusts; foreign 501(c)(3) foundations need not complete line 7 (capital gain net

income) or expense lines

Part I (analysis of revenues and expenses), column (c) (adjusted net income)

Only foundations claiming operating foundation status, foundations (not

described in section 4948(b)) that derive income from a charitable activity and

claim a qualifying distribution for net losses from the activity, and domestic 501(c)

(3) foundations that maintain a common fund, as described in section 170(b)(1)

(F)(iii)

Part II (balance sheets), columns (a) and (b) (beginning and end-of-year book

value)

All

Part II (balance sheets), column (c) (end-of-year fair market value)

All foundations with at least $5,000 in assets per books at some time during tax

year; other foundations complete only line 16

Part III (analysis of changes in net assets or fund balances)

All

Part IV (capital gains and losses for tax on investment income)

All except foreign foundations; line 3 must be completed only by foundations that

must complete Part I, column (c)

Part V (excise tax based on investment income)

All except (1) organizations electing private foundation status under section 41(e)

(6)(D), (2) foreign taxable foundations, and (3) foreign nonexempt charitable trusts

Part VI-A (statements regarding activities)

All; foreign foundations described in section 4948(b) need not complete lines 6

and 8, and in line 10, foreign foundations don't list persons who aren't U.S.

citizens

Part VI-B (statements regarding activities for which Form 4720 may be required)

All; foreign foundations described in section 4948(b) need not complete line 2

Part VII (information about officers, directors, trustees, foundation managers,

highly paid employees, and contractors)

All

Part VIII-A (summary of direct charitable activities)

All

Part VIII-B (summary of program-related investments)

All

Part IX (minimum investment return)

All except foreign foundations described in section 4948(b) that aren't claiming

operating foundation status

Part X (distributable amount)

All except (1) foreign foundations described in section 4948(b), and (2)

foundations claiming operating foundation status

Part XI (qualifying distributions)

All except foreign foundations described in section 4948(b) that aren't claiming

operating foundation status

Part XII (undistributed income)

All except foreign foundations described in section 4948(b); if the foundation

claims operating foundation status for any of the years shown in Part XII, it

doesn't complete those portions of Part XII that apply to those years

Part XIII (private operating foundations)

Only foundations claiming operating foundation status

Part XIV (supplementary information)

All except (1) foundations with less than $5,000 of assets per books at all times

during tax year, and (2) foreign foundations described in section 4948(b)

Part XV-A (analysis of income-producing activities)

All

Part XV-B (relationship of activities to the accomplishment of exempt purposes)

All

Part XVI (information regarding transfers to and transactions and relationships

with noncharitable exempt organizations)

All

Signature block

All

Instructions for Form 990-PF (2025)

3

required to file Form 990, Form 990-EZ, or Form 990-N

(“e-Postcard”) instead of Form 990-PF.

2. A nonexempt charitable trust treated as a private

foundation is a trust that isn't exempt from tax under section

501(a) and all of the unexpired interests of which are devoted to

religious, charitable, or other purposes described in section

170(c)(2)(B), and for which a charitable deduction was allowed

under a section of the Code listed in section 4947(a)(1).

3. A taxable private foundation is an organization that

previously was recognized as being exempt under section

501(a) as an organization described in section 501(c)(3), but has

lost that recognition. Though it may operate as a taxable entity, it

will continue to be treated as a private foundation until that status

is terminated under section 507.

4. A private operating foundation is an organization that is

described under section 4942(j)(3) or (5). It means any private

foundation that spends at least 85% of the smaller of its adjusted

net income (figured in Part I) or its minimum investment return

(figured in Part IX) directly for the active conduct of the exempt

purpose or functions for which it is organized and operated and

that also meets the assets test, the endowment test, or the

support test (discussed in Part XIII). Also, certain elderly care

facilities created before 1970 are treated as private operating

foundations.

5. A nonoperating private foundation is a private foundation

that isn't a private operating foundation. These often are referred

to as “grant-making foundations.”

6. A foundation manager is an officer, director, or trustee of a

foundation, or an individual who has powers similar to those of

officers, directors, or trustees. In the case of any act or failure to

act, the term “foundation manager” may also include employees

of the foundation who have the authority to act.

7. A disqualified person is any of the following.

a. A substantial contributor (see the instructions for Part

VI-A, line 10, later).

b. A foundation manager.

c. A person who owns more than 20% of a corporation,

partnership, trust, or unincorporated enterprise that is itself a

substantial contributor.

d. A family member of an individual described in (a), (b), or

(c) above.

e. A corporation, partnership, trust, estate, or

unincorporated enterprise in which persons described in (a), (b),

(c), or (d) above own more than 35% of the voting power, profits

interest, or beneficial interest, respectively.

f. For purposes of section 4941 (self-dealing), a disqualified

person also includes certain government officials. (See section

4946(c) and the related regulations.)

g. For purposes of section 4943 (excess business holdings),

a disqualified person also includes:

i. A private foundation effectively controlled (directly or

indirectly) by the same persons who control the private

foundation in question; or

ii. A private foundation to which substantially all

contributions were made (directly or indirectly) by one or more of

the persons described in (a), (b), and (c) above, or members of

their families, within the meaning of section 4946(d).

8. An organization is controlled by a foundation or by one or

more disqualified persons with respect to the foundation if any of

these persons may, by combining their votes or positions of

authority, require the organization to make an expenditure or

prevent the organization from making an expenditure, regardless

of the method of control. “Control” is determined regardless of

how the foundation requires the contribution to be used.

4

D. Other Forms You May Need To File

• Form W-2, Wage and Tax Statement.

• Form W-3, Transmittal of Wage and Tax Statements.

• Form 940, Employer's Annual Federal Unemployment (FUTA)

Tax Return (section 4947(a)(1) trusts and taxable private

foundations may need to file).

• Form 941, Employer's QUARTERLY Federal Tax Return.

These forms are used to report social security, Medicare, and

income taxes withheld by an employer and social security and

Medicare taxes paid by an employer.

If income, social security, and Medicare taxes that must be

withheld aren't withheld or aren't paid to the IRS, a trust fund

recovery penalty may apply. The penalty is 100% of such unpaid

taxes.

This penalty may be imposed on all persons (including

volunteers (see below)) whom the IRS determines to be

responsible for collecting, accounting for, and paying over these

taxes, and who willfully didn't do so.

This penalty doesn't apply to any volunteer, unpaid member

of any board of trustees or directors of a tax-exempt organization

if this member:

• Is solely serving in an honorary capacity;

• Doesn’t participate in the day-to-day or financial activities of

the organization; and

• Doesn’t have actual knowledge of the failure to collect,

account for, and pay over these taxes.

However, this exception doesn't apply if it results in no person

being liable for the penalty.

Form 720, Quarterly Federal Excise Tax Return. In addition

to various federal excise taxes that are paid with the filing of this

form, the Patient-Centered Outcomes Research Institute fee that

is imposed on health insurers and employers who maintain

self-insured health plans is payable annually and reported on the

Form 720 that is filed for the second quarter of each year, which

is due no later than July 31 of each calendar year.

Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation. U.S. persons (including domestic

corporations and trusts) must file Form 926 to report certain

transfers of tangible or intangible property to a foreign

corporation, as required by section 6038B.

Form 990–T, Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)). Every

organization exempt from income tax under section 501(a) with

total gross income of $1,000 or more from all trades or

businesses unrelated to the organization's exempt purpose must

file Form 990-T. The form is also used by tax-exempt

organizations to report other additional taxes, including the

additional tax figured in Part IV of Form 8621, Information Return

by a Shareholder of a Passive Foreign Investment Company or

Qualified Electing Fund.

Form 990-W, Estimated Tax on Unrelated Business Taxable

Income for Tax-Exempt Organizations. Use of this form is

optional. It is provided only to aid you in determining your tax

liability. You must use electronic funds transfer to make all

depository tax deposits. See P. Tax Payment Methods for

Domestic Private Foundations, later, for information about

electronic deposits.

Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. This

form for recognition of exemption from federal income tax under

section 501(c)(3) must be used by private foundations that don't

qualify to use Form 1023-EZ or that are also requesting advance

approval of individual grant procedures or recognition as an

operating foundation. Form 8940 may also be used for

Instructions for Form 990-PF (2025)

requesting advance approval of individual grant procedures or

recognition as an operating foundation.

Form 1023-EZ, Streamlined Application for Recognition of

Exemption Under Section 501(c)(3) of the Internal Revenue

Code. Certain small private foundations may apply for

recognition of exemption under section 501(c)(3) using this form

instead of Form 1023.

Form 1041, U.S. Income Tax Return for Estates and Trusts.

Required of section 4947(a)(1) nonexempt charitable trusts that

also file Form 990-PF. However, if the trust doesn't have any

taxable income under the income tax provisions (subtitle A of the

Code), it may use the filing of Form 990-PF to satisfy its Form

1041 filing requirement under section 6012. If this condition is

met, check the box on line 15, Part VI-A, of Form 990-PF and

don't file Form 1041.

Form 1041-ES, Estimated Income Tax for Estates and

Trusts. Used to make estimated tax payments.

Form 1096, Annual Summary and Transmittal of U.S. Information Returns. Used to transmit Forms 1097, 1098, 1099,

3921, 3922, 5498, and W-2G to the IRS. Don’t use it to transmit

electronically.

Form 1098 series. Information returns to report mortgage

interest, student loan interest, qualified tuition and related

expenses, and a contribution of a qualified vehicle that has a

claimed value of more than $500.

Form 1099 series. Information returns to report acquisitions or

abandonments of secured property; proceeds from broker and

barter exchange transactions; cancellation of debt; dividends

and distributions; certain government and state qualified tuition

program payments; taxable distributions from cooperatives;

interest payments; payments of long-term care and accelerated

death benefits; miscellaneous income payments; nonemployee

compensation; distributions from an HSA, Archer MSA or

Medicare Advantage MSA; original issue discount; distributions

from pensions, annuities, retirement or profit-sharing plans,

IRAs, insurance contracts, etc.; and proceeds from real estate

transactions. Also, use certain of these returns to report amounts

that were received as a nominee on behalf of another person.

Form 1120, U.S. Corporation Income Tax Return. Filed by

nonexempt taxable private foundations that have taxable income

under the income tax provisions (subtitle A of the Code). Form

990-PF is also filed by these taxable foundations.

Form 1120-POL, U.S. Income Tax Return for Certain Political Organizations. Section 501(c) organizations must file Form

1120-POL if they are treated as having political organization

taxable income under section 527(f)(1).

Form 1128, Application To Adopt, Change, or Retain a Tax

Year. Form 1128 is used to request approval from the IRS to

change a tax year or to adopt or retain a certain tax year.

Form 2220, Underpayment of Estimated Tax by Corporations. Form 2220 is used by corporations and trusts filing Form

990-PF to see if the foundation owes an addition to tax and to

figure the amount of the addition to tax. Generally, the foundation

isn't required to file this form because the IRS can figure the

amount of any addition to tax and bill the foundation for it.

However, complete and attach Form 2220 even if the foundation

doesn't owe the addition to tax if:

• The annualized income or the adjusted seasonal installment

method is used; or

• The foundation is a “large organization,” (see O. Figuring and

Paying Estimated Tax, later) figuring its first required installment

based on the prior year's tax.

If Form 2220 is attached, check the box on Form 990-PF, Part V,

line 8, and enter the amount of any penalty on this line.

Instructions for Form 990-PF (2025)

Form 2848, Power of Attorney and Declaration of Representative. Used to authorize an individual to represent you in

matters before the IRS, such as the filing of Form 1023.

Form 3115, Application for Change in Accounting Method.

Used to request a change in either an overall method of

accounting or the accounting treatment of any item, in situations

not covered by Rev. Proc. 85-58, 1985-18 I.R.B. 5.

Form 3520, Annual Return To Report Transactions With

Foreign Trusts and Receipt of Certain Foreign Gifts. Used

by U.S. persons to report certain transactions with foreign trusts,

ownership of foreign trusts under the grantor trust rules of

sections 671–679, and receipt of certain large gifts or bequests

from certain foreign persons.

Form 4506-A, Request for a Copy of Exempt or Political Organization IRS Form. Used to inspect or request a copy of an

exempt or political organization's return, report, or notice.

Form 4506-B, Request for a Copy of Exempt Organization

IRS Application or Letter. Used to request a copy of an

exempt or political organization's exempt application,

determination letter, or affirmation letter.

Form 4720, Return of Certain Excise Taxes Under Chapters

41 and 42 of the Internal Revenue Code. Is primarily used to

determine the excise taxes imposed on:

• Acts of self-dealing between private foundations and

disqualified persons,

• Failure to distribute income,

• Excess business holdings,

• Investments that jeopardize a foundation's charitable

purposes,

• Making political or other noncharitable expenditures,

• Prohibited tax shelter transactions, and

• Excess executive compensation.

Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations. Used by certain U.S.

persons that are shareholders in certain foreign corporations, in

compliance with sections 6038 and 6046.

Form 5500, Annual Return/Report of Employee Benefit

Plan. Used to report information concerning employee benefit

plans and Direct Filing Entities.

Form 7004, Application for Automatic Extension of Time to

File Certain Business Income Tax, Information, and Other

Returns. Used by nonexempt charitable trusts and taxable

foundations to request extension of time to file income tax

returns.

Form 8282, Donee Information Return. Required of the

donee of “charitable deduction property” that sells, exchanges,

or otherwise disposes of the property within 3 years after the

date it received the property. Also required of any successor

donee that disposes of charitable deduction property within 3

years after the date the donor gave the property to the original

donee. It doesn't matter who gave the property to the successor

donee. It may have been the original donee or another

successor donee.

Form 8283, Noncash Charitable Contributions. Donors must

file Form 8283 to report information about certain noncash

charitable contributions in order to substantiate a charitable

deduction under section 170. The donor may need to obtain an

acknowledgement by the donee foundation in Part IV of Form

8283.

Form 8275, Disclosure Statement. Taxpayers and tax return

preparers should attach this form to Form 990-PF to disclose

items or positions (except those contrary to a regulation—see

Form 8275-R below) that aren't otherwise adequately disclosed

on the tax return. The disclosure is made to avoid parts of the

5

accuracy-related penalty imposed for substantial

understatement of tax or disregard of rules or regulations

language in sections 1.6662-3(b)(2) and 1.6662-3(c)(2). See

also IRM 20.1.5.8.2.1. Form 8275 is also used for disclosures

relating to preparer penalties for understatements due to

unrealistic positions or for willful or reckless conduct.

status (section 507(b)(1)(B)). Nonexempt charitable trusts also

file this form to request an initial determination under section

509(a)(3). Canadian registered charities file this form to be listed

as an organization described in section 501(c)(3) on IRS.gov or

request classification as a public charity rather than a private

foundation.

Form 8275-R, Regulation Disclosure Statement. Use this

form to disclose any item on a tax return for which a position has

been taken that is contrary to Treasury regulations.

FinCEN Form 114, Report of Foreign Bank and Financial

Accounts. Used by organizations formed or organized in or

under the laws of the United States to report a financial interest

in or signature authority over a foreign financial account if the

aggregate value exceeds $10,000 at any time during the

calendar year.

Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. Used to report cash amounts

in excess of $10,000 received in a single transaction (or in two or

more related transactions) in the course of a trade or business

(as defined in section 162).

Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing

Fund. A U.S. person that is a direct or indirect shareholder of a

passive foreign investment company (PFIC) may need to file. But

see Regulations section 1.1291–1(e) with respect to tax-exempt

foundations.

Form 8821, Tax Information Authorization. Used to authorize

an individual or organization to inspect and/or receive your

confidential tax information on designated matters.

Form 8822-B, Change of Address or Responsible Party—Business. Used by taxpayers to notify the IRS of changes

in business mailing address, business location, or responsible

party.

Form 8865, Return of U.S. Persons With Respect to Certain

Foreign Partnerships. Used by U.S. persons to report

information required under section 6038 (controlled foreign

partnerships), section 6038B (transfers to foreign partnerships),

or section 6046A (acquisitions, dispositions, and changes in

foreign partnership interests).

Form 8868, Application for Extension of Time To File an Exempt Organization Return or Excise Taxes Related to Employee Benefit Plans. Used by an exempt organization to

request an automatic 6-month extension of time to file its return

or, by a Form 5330 filer to request an extension of up to 6 months

to file a return for excise taxes related to employee benefit plans.

Form 8870, Information Return for Transfers Associated

With Certain Personal Benefit Contracts. Used to identify

those personal benefit contracts for which funds were transferred

to the organization, directly or indirectly, as well as the

transferors and beneficiaries of those contracts.

Form 8886, Reportable Transaction Disclosure Statement.

Used to disclose information for each reportable transaction in

which the organization participated, including but not limited to a

prohibited tax shelter transaction. Exempt organizations may

also be required to file Form 8886-T in such case.

Form 8886-T, Disclosure by Tax-Exempt Entity Regarding

Prohibited Tax Shelter Transaction. Used by an exempt

organization to disclose that it was a party to a prohibited tax

shelter transaction.

Form 8899, Notice of Income From Donated Intellectual

Property. Used to report income from qualified intellectual

property.

Form 8940, Request for Miscellaneous Determination.

Used by private foundations, government entities requesting

voluntary termination of exempt status under section 501(c)(3),

and nonexempt charitable trusts to obtain certain determinations

including advance approval of individual grant procedures

(section 4945(g)), advance approval of certain set-asides

(section 4942(g)(2)), advance approval of voter registration

activities (section 4945(f)), and termination of private foundation

6

E. Useful Publications

The following publications may be helpful in preparing Form

990-PF or for other tax compliance purposes.

• Pub. 15 (Circular E), Employer’s Tax Guide.

• Pub. 15-A, Employer’s Supplemental Tax Guide (Supplement

to Pub. 15, Employer’s Tax Guide).

• Pub. 15-T, Federal Income Tax Withholding Methods.

• Pub. 525, Taxable and Nontaxable Income.

• Pub. 526, Charitable Contributions.

• Pub. 538, Accounting Periods and Methods.

• Pub. 557, Tax-Exempt Status for Your Organization.

• Pub. 561, Determining the Value of Donated Property.

• Pub. 583, Starting a Business and Keeping Records.

• Pub. 598, Tax on Unrelated Business Income of Exempt

Organizations.

• Pub. 892, How To Appeal an IRS Determination on

Tax-Exempt Status.

• Pub. 946, How To Depreciate Property.

• Pub. 966, Electronic Federal Tax Payment System: A Guide to

Getting Started.

• Pub. 1771, Charitable Contributions—Substantiation and

Disclosure Requirements.

• Pub. 3079, Tax-Exempt Organizations and Gaming.

• Pub. 3833, Disaster Relief, Providing Assistance Through

Charitable Organizations.

• Pub. 4220, Applying for 501(c)(3) Tax-Exempt Status.

• Pub. 4221-PF, Compliance Guide for 501(c)(3) Private

Foundations.

• Pub. 4302, A Charity’s Guide to Vehicle Donation.

• Pub. 4303, A Donor’s Guide to Vehicle Donation.

• Pub. 4386, Compliance Checks—Examination, Audit, or

Compliance Check?

Publications and forms are available at no charge on the IRS

website at IRS.gov/FormsPubs.

F. Use of Form 990-PF To Satisfy State

Reporting Requirements

Some states and local government units will accept a copy of

Form 990-PF and required attachments instead of all or part of

their own financial report forms.

If the organization plans to use Form 990-PF to satisfy state

or local filing requirements, such as those from state charitable

solicitation acts, note the following.

Determine state filing requirements. Consult the appropriate

officials of all states and other jurisdictions in which the

organization does business to determine their specific filing

requirements. “Doing business” in a jurisdiction may include any

of the following.

• Soliciting contributions or grants by mail or otherwise from

individuals, businesses, or other charitable organizations.

• Conducting programs.

• Having employees within that jurisdiction.

Instructions for Form 990-PF (2025)

• Maintaining a checking account or owning or renting property

there.

Monetary tests may differ. Some or all of the dollar limitations

that apply to Form 990-PF when filed with the IRS may not apply

when using Form 990-PF instead of state or local report forms.

IRS dollar limitations that may not meet some state requirements

are the $5,000 total assets minimum that requires completion of

Part II, column (c), and Part XIV; and the $50,000 minimum for

listing the highest paid employees and for listing professional

fees in Part VII.

Additional information may be required. State and local filing

requirements may require attaching to Form 990-PF one or more

of the following.

• Additional financial statements, such as a complete analysis

of functional expenses or a statement of changes in net assets.

• Notes to financial statements.

• Additional financial schedules.

• A report on the financial statements by an independent

accountant.

• Answers to additional questions and other information.

Each jurisdiction may require the additional material to be

presented on forms they provide. The additional material doesn't

have to be submitted with the Form 990-PF filed with the IRS.

If required information isn't provided to a state, the

organization may be asked by the state to provide it or to submit

an amended return even if the Form 990-PF is accepted by the

IRS as complete.

Amended returns. If the organization submits supplemental

information or files an amended Form 990-PF with the IRS, it

must also submit a copy of the information or amended return to

any state with which it filed a copy of Form 990-PF.

Method of accounting. Many states require that all amounts

be reported based on the accrual method of accounting.

Time for filing may differ. The time for filing Form 990-PF with

the IRS may differ from the time for filing state reports.

G. Furnishing Copies of Form 990-PF

to State Officials

If required under applicable state law, the foundation managers

must furnish a copy of Form 990-PF and Form 4720 (if

applicable) to the Attorney General of:

• Each state required to be listed in Part VI-A, line 8a;

• The state in which the foundation's principal office is located;

and

• The state in which the foundation was incorporated or

created.

A copy of the annual return must be sent to the Attorney

General at the same time the annual return is filed with the IRS.

Other requirements. If the Attorney General or other

appropriate state official of any state requests a copy of the

annual return, the foundation managers must comply with the

request.

Exceptions. These rules don't apply to any foreign foundation

that, from the date of its creation, has received at least 85% of its

support (excluding gross investment income) from sources

outside the United States. See S. Organizations Organized or

Created in a Foreign Country, later, for other exceptions that

affect this type of organization.

Coordination with state reporting requirements. If the

foundation managers submit a copy of Form 990-PF and Form

4720 (if applicable) to a state Attorney General to satisfy a state

reporting requirement, they don't have to furnish a second copy

to that Attorney General to comply with the Internal Revenue

Code requirements discussed in this section.

Instructions for Form 990-PF (2025)

If there is a state reporting requirement to file a copy of Form

990-PF with a state official other than the Attorney General (for

instance, the Secretary of State), then the foundation managers

must also send a copy of the Form 990-PF and Form 4720 (if

applicable) to the Attorney General of that state if required under

applicable state law.

H. Accounting Period

Calendar or fiscal year. File the 2025 return for the calendar

year 2025 or fiscal year beginning in 2025. If the return is for a

fiscal year, fill in the beginning and ending dates of the tax year

in the spaces at the top of the return.

The return must be filed on the basis of the established

annual accounting period of the organization. If the organization

has no established accounting period, the return should be on

the calendar-year basis.

Short period. For an initial or final return or for a short tax year

resulting from a change in accounting period, the 2025 form may

also be used as the return for a short period (less than 12

months) ending November 30, 2025, or earlier. The 2025 form

may also be used for a short period beginning after November

30, 2025, and ending before December 31, 2026 (not on or after

December 31, 2026). Note on the short period return the change

of accounting period.

Accounting period change. If the organization changes its

accounting period, it must file a Form 990 for the short period

resulting from the change. If you are filing a short period return

because you changed your accounting period, use the change of

accounting period field provided by the software provider to file.

Also, include the reason for the change, either “Form 1128 was

approved” or “Revenue Procedure 85-58 rules apply.”

If the organization has previously changed its annual

accounting period at any time within the 10-calendar-year period

that includes the beginning of the short period resulting from

the current change in account period, and it had Form 990

series or income tax return filing requirement at any time during

the 10-year period, it must also file Form 1128, Application To

Adopt, Change, or Retain a Tax Year, with the short-period

return. See Rev. Proc. 85-58, 1985-2 C.B. 740. See also IRS.gov

for further instructions.

I. Accounting Methods

An “accounting method,” for federal income tax purposes, is a

practice a taxpayer follows to determine the taxable year in

which to report revenue and expenses for federal income tax

purposes. An accounting method includes not only the overall

plan of accounting for gross income or deductions (for example,

an accrual method or the cash receipts and disbursement

method), but also the treatment of any item that involves the

proper time for the inclusion of an item in income or the taking of

an item as a deduction, or both. However, a practice that does

not affect the timing for reporting an item of income or deduction

for purposes of determining taxable income is not an accounting

method. A taxpayer, including a tax-exempt entity, generally

adopts any permissible accounting method in the first year in

which it uses the method in determining its taxable income. See

Rev. Proc. 2015-13, 2015-5 I.R.B. 419.

Caution: An exempt organization may adopt an accounting

method not only for purposes of calculating taxable income but

also for purposes of determining whether taxable income will be

subject to federal income tax. For example, a tax-exempt entity

may adopt an accounting method for an item of income from an

unrelated trade or business activity even if the gross income

from such activity is less than $1,000 and is therefore not taxed

for federal income tax purposes pursuant to Regulations section

1.6012-2(e).

7

An accounting method for an item of income or deduction

may generally be adopted separately for each of the taxpayer’s

trades or businesses. However, in order to be permissible, an

accounting method must clearly reflect the taxpayer’s income.

Unless instructed otherwise, the organization should generally

use the same accounting method on the return (including the

Form 990-PF and all schedules) to report revenue and expenses

that it regularly uses to keep its books and records.

Accounting method change. Once a taxpayer, including a

tax-exempt entity, adopts an accounting method for federal

income tax purposes, the taxpayer must generally request the

IRS’s consent before it can change its accounting method (even

if the year in which the taxpayer seeks to make the change is a

year in which it generates only tax-exempt income or is

otherwise not taxed on its taxable income). In most cases, a

taxpayer requests consent to change an accounting method by

filing a Form 3115, Application for Change in Accounting

Method. See Rev. Proc. 2015-13, or any successor, for general

procedures for obtaining consent to change an accounting

method.

Caution: Depending upon the specific accounting method

change being requested, the taxpayer may be able to request

“automatic” consent. This means that as long as the taxpayer

follows the applicable procedures, the taxpayer does not have to

wait for formal approval by the IRS before applying the new

accounting method. See Rev. Proc. 2019-43, 2019-48 I.R.B.

1107, as modified by Rev. Proc. 2021-34, 2021-35 I.R.B. 337, or

its successor, for a list of accounting method changes that

generally qualify for automatic consent.

For example, a tax-exempt entity that has adopted an

accounting method for an item of income from an unrelated trade

or business must generally request consent before it can change

its method of accounting for that item in any subsequent year.

This is true regardless of whether gross income from the

unrelated trade or business is greater than or equal to $1,000 in

such subsequent year.

Alternatively, if a taxpayer, including a tax-exempt entity, has

not yet adopted an accounting method for an item of income or

deduction, a change in how the entity reports the item is not a

change in accounting method. In this case, the procedures

applicable to requests for accounting method changes (for

example, the requirement to file a Form 3115) are not applicable.

Thus, a tax-exempt entity that has never taken into account

an item of income or deduction in determining taxable income

does not have to request consent to change its method of

reporting that item on Form 990-PF. Additionally, a tax-exempt

entity that has never been subject to federal income tax on an

item of income or deduction but that is required to file a Form

990-T solely due to owing a section 6033(e)(2) proxy tax does

not have to request consent to change its method for reporting

the item.

Exception. Complete Part I, column (d), on the cash receipts

and disbursements method of accounting.

J. When and How To File

This return must be filed by the 15th day of the 5th month

following the close of the foundation's tax year. If the regular due

date falls on a Saturday, Sunday, or legal holiday, file by the next

business day. If the return is filed late, see M. Penalty for Failure

To File Timely, Completely, or Correctly, later.

In the case of a complete liquidation, dissolution, or

termination, file the return by the 15th day of the 5th month

following complete liquidation, dissolution, or termination.

Required electronic filing. If you are filing a 2025 Form

990-PF, you are required to file electronically.

8

Electronic filing is only available for the current tax year and 2

prior tax periods. If the return you are attempting to file is for a

prior year, you must instead paper file the return regardless of

the current e-file requirement. As of December 26, 2023, the IRS

will no longer accept electronically filed returns for years 2020

and older.

When paper filing an older tax year, such as 2020, write at the

top of the return, “The IRS no longer accepts electronic filing of

the tax year 2020 returns after December 26, 2023.”

For additional information on the electronic filing requirement

and e-file providers, visit IRS.gov/EOefile.

K. Extension of Time To File

A foundation generally uses Form 8868 to request an automatic

extension of time to file its return.

An automatic extension will be granted if you properly

complete this form, file it, and pay any balance due by the due

date for Form 990-PF.

L. Amended Return

To change the organization's return for any year, file an amended

return, including attachments, with the correct information. The

amended return must provide all the information required by the

form and instructions, not just the new or corrected information.

Check “Amended return” in Item G at the top of page 1 of the

form. See Line 9. Tax due, later.

If the organization files an amended return to claim a refund of

tax paid under section 4940 or 4948, it must file the amended

return within 3 years after the date the original return was filed, or

within 2 years from the date the tax was paid, whichever date is

later.

State reporting requirements. See Amended returns, earlier.

Need a copy of an old return or form? Use Form 4506-A to

obtain a copy of a previously filed return. You can download

items from the IRS website at IRS.gov/FormsPubs.

M. Penalty for Failure To File Timely,

Completely, or Correctly

To avoid filing an incomplete return or having to respond to

requests for missing information, see B. Which Parts To

Complete, earlier.

Against the organization. If an organization doesn't file timely

and completely, or doesn't furnish the correct information, it must

pay $25 for each day the failure continues ($130 a day if it is a

large organization), unless it can show that the failure was due to

reasonable cause. The maximum penalty for each return won't

exceed the lesser of $13,000 ($65,000 for a large organization)

or 5% of the gross receipts of the organization for the year.

Large organization. A large organization is one that has

gross receipts exceeding $1,309,500 for the tax year.

Gross receipts. Gross receipts means the gross amount

received during the foundation's annual accounting period from

all sources without reduction for any costs or expenses.

To calculate the foundation's gross receipts, figure the

following.

1. Part I, line 12, column (a).

2. Add lines 6b and 10b.

3. Subtract line 6a.

Against the responsible person. The IRS will make written

demand that the delinquent return be filed or the information

furnished within a reasonable time after the mailing of the notice

of the demand. The person failing to comply with the demand on

or before the date specified will have to pay $10 for each day the

Instructions for Form 990-PF (2025)

failure continues, unless there is reasonable cause. The

maximum penalty imposed on all persons for any one return is

$6,500. If more than one person is liable for any failures, all such

persons are jointly and severally liable for such failures. See

section 6652(c) for further information.

Other penalties. Because this return also satisfies the filing

requirements of a tax return under section 6011 for the tax on

investment income imposed by section 4940 (or 4948 if an

exempt foreign organization), the penalties imposed by section

6651 for not filing a return (without reasonable cause) also apply.

There are also criminal penalties for willful failure to file and

for filing fraudulent returns and statements. See sections 7203,

7206, and 7207.

Most tax-exempt organizations, other than churches, are

required to file an annual Form 990, 990-EZ, 990-PF, or 990-N

e-Postcard with the IRS. If an organization fails to file an annual

return or notice for 3 consecutive years, it will automatically lose

its tax-exempt status. A private foundation that loses its

exemption must file income tax returns and pay income taxes

and must file Form 990-PF as a taxable private foundation. For

details, go to IRS.gov/EO.

N. Additions to Tax for Not Paying Tax

on Time

There is an addition to tax for not paying tax when due (section

6651). The penalty is generally 1/2 of 1% of the unpaid tax for

each month or part of a month the tax remains unpaid, not to

exceed 25% of the unpaid tax. If there was reasonable cause for

not paying the tax on time, the penalty can be waived. However,

interest is charged on any tax not paid on time, at the rate

provided by section 6621.

Estimated tax penalty. The section 6655 penalty for failure to

pay estimated tax applies to the tax on net investment income of

domestic private foundations and section 4947(a)(1) nonexempt

charitable trusts. The penalty also applies to any tax on

unrelated business income of a private foundation. Generally, if a

private foundation's tax liability is $500 or more and it didn't

make the required payments on time, then it is subject to the

penalty.

For more details, see the discussion of Form 2220,

Underpayment of Estimated Tax by Corporations, in D. Other

Forms You May Need To File, earlier.

A private foundation is also subject to the section 6656

penalty for failure to deposit employment taxes when due. See

sections 11 and 12 of Pub. 15 (Circular E), Employer’s Tax

Guide, for details.

O. Figuring and Paying Estimated Tax

A domestic exempt private foundation, a domestic taxable

private foundation, or a nonexempt charitable trust treated as a

private foundation must make estimated tax payments for the

excise tax based on investment income if it can expect its

estimated tax (section 4940 tax minus allowable credits) to be

$500 or more. The number of installment payments it must make

under the depository method is determined at the time during

the year that it first meets this requirement. For calendar-year

taxpayers, the first deposit of estimated taxes for a year should

generally be made by May 15 of the year.

Although Form 990-W is used primarily to figure the

installment payments of unrelated business income tax, it is also

used to determine the timing and amounts of installment

payments of the section 4940 tax based on investment income.

Figure separately any required deposits of excise tax based on

investment income and unrelated business income tax.

Instructions for Form 990-PF (2025)

To figure the estimated tax for the excise tax based on

investment income, see Part V. Enter the tax you figured on

line 10a of Form 990-W.

The Form 990-W line items and instructions for large

organizations also apply to private foundations. For purposes of

paying the estimated tax on net investment income, a “large

organization” is one that had net investment income of $1 million

or more for any of the 3 tax years immediately preceding the tax

year involved.

Addition to Tax. A foundation that doesn't pay the proper

estimated tax when due may be subject to the estimated

addition to tax for the period of the underpayment. See sections

6655(b) and (d) and the Form 2220 instructions for further

information.

With regard to figuring and paying employment taxes, see

Pub. 15 (Circular E).

Special Rules

Section 4947(a)(1) nonexempt charitable trusts. Form

1041-ES should be used to pay any estimated tax on income

subject to tax under section 1. Form 1041-ES also contains the

estimated tax rules for paying the tax on that income.

P. Tax Payment Methods for Domestic

Private Foundations

The foundation must deposit all depository taxes (such as

employment tax, excise tax, and unrelated business income tax)

electronically using electronic funds transfer. Generally, such

transfers are made using the Electronic Federal Tax Payment

System (EFTPS). To get more information about EFTPS or to

enroll in EFTPS, visit EFTPS.gov, or call 800-555-4477. To

contact EFTPS using the Telecommunications Relay Services

(TRS), for people who are deaf, hard of hearing, or have a

speech disability, dial 711 and provide the TRS assistant the

800-555-4477 number above or 800-733-4829. Additional

information about EFTPS is also available in Pub. 966, Electronic

Federal Tax Payment System: A Guide to Getting Started. See

below for an exception to this rule for small foundations.

Depositing on time. For deposits made by EFTPS to be on

time, the foundation must generally submit the transaction at

least 1 business day before the date the deposit is due. See Pub.

15 (Circular E) for information on a same-day payment option

under some circumstances.

Q. Public Inspection Requirements

A private foundation must make its annual returns and exemption

application available for public inspection.

Definitions

Annual returns. Annual returns include an exact copy of the

following documents as filed with the IRS.

• Form 990-PF, including all schedules, attachments, and

supporting documents, and any amended return that is 3 or

fewer years old from:

1. The date the original return was filed or required to be

filed, or

2. The date the return was required to be filed.

• Form 990-T, if it was used to report any tax on unrelated

business income.

Exemption application. An application for tax exemption

includes (except as described later):

• Any prescribed application form (such as Form 1023 or Form

1024),

• Any letter application where a form isn't required,

9

• All documents and statements the IRS requires an applicant

to file with the form or letter application,

• Any statement or other supporting document submitted in

support of the application, and

• Any letter or other document issued by the IRS concerning the

application.

An application for tax exemption doesn't include:

• Any application for tax exemption filed before July 15, 1987,

unless the private foundation filing the application had a copy of

the application on July 15, 1987; or

• Any material that isn't available for public inspection under

section 6104.

Who Must Make the Annual Returns and

Exemption Application Available for Public

Inspection?

The foundation's Form 990-PF, Form 990-T, and exemption

application must be made available to the public by the

foundation and the IRS.

How Does a Private Foundation Make Its Annual

Returns and Exemption Application Available

for Public Inspection?

A private foundation must make its annual returns and exemption

application available in three ways.

• By office visitation.

• By providing copies.

• By Internet posting.

Public Inspection by Office Visitation

A private foundation must make its annual returns and exemption

application available for public inspection without charge at its

principal, regional, and district offices during regular business

hours.

Conditions that may be set for public inspection at the office. A private foundation:

• May have an employee present,

• Must allow the individual conducting the inspection to take

notes freely during the inspection, and

• Must allow an individual to make photocopies of documents at

no charge but only if the individual brings photocopying

equipment to the place of inspection.

Determining if a site is a regional or district office. A

regional or district office is any office of a private foundation,

other than its principal office, that has paid employees whose

total number of paid hours a week are normally 120 hours or

more. Include the hours worked by part-time (as well as full-time)

employees in making that determination.

What sites aren't considered a regional or district office?

A site isn't considered a regional or district office if:

1. The only services provided at the site further the

foundation's exempt purposes (for example, day care, health

care, or scientific or medical research); and

2. The site doesn't serve as an office for management staff,

other than managers who are involved only in managing the

exempt function activities at the site.

What if the private foundation doesn't maintain a permanent office? If the private foundation doesn't maintain a

permanent office, it will comply with the public inspection by

office visitation requirement by making the annual returns and

exemption application available at a reasonable location of its

choice. It must permit public inspection:

• Within a reasonable amount of time after receiving a request

for inspection (normally, not more than 2 weeks), and

10

• At a reasonable time of day.

Optional method of complying. If a private foundation that

doesn't have a permanent office wishes not to allow an

inspection by office visitation, it may mail a copy of the requested

documents instead of allowing an inspection. However, it must

mail the documents within 2 weeks of receiving the request and

may charge for copying and postage only if the requester

consents to the charge.

Private foundations with a permanent office but limited

or no hours. Even if a private foundation has a permanent

office but no office hours or very limited hours during certain

times of the year, it must still meet the office visitation

requirement. To meet this requirement during those periods

when office hours are limited or not available, follow the rules

above under What if the private foundation doesn't maintain a

permanent office, earlier.

Public Inspection—Providing Copies

A private foundation must provide copies of its annual returns or

exemption application to any individual who makes a request for

a copy in person or in writing unless it makes these documents

widely available.

In-person requests for document copies. A private

foundation must provide copies to any individual who makes a

request in person at the private foundation's principal, regional,

or district offices during regular business hours on the same day

that the individual makes the request.

Accepted delay in fulfilling an in-person request. If

unusual circumstances exist and fulfilling a request on the same

day places an unreasonable burden on the private foundation, it

must provide copies by the earlier of:

• The next business day following the day that the unusual

circumstances end, or

• The fifth business day after the date of the request.

Examples of unusual circumstances include:

• Receipt of a volume of requests (for document copies) that

exceeds the private foundation's daily capacity to make copies,

• Requests received shortly before the end of regular business

hours that require an extensive amount of copying, or

• Requests received on a day when the organization's

managerial staff capable of fulfilling the request is conducting

official duties (for instance, student registration or attending an

off-site meeting or convention) instead of its regular

administrative duties.

Use of local agents for providing copies. A private

foundation may use a local agent to handle in-person requests

for document copies. If a private foundation uses a local agent, it

must immediately provide the local agent's name, address, and

telephone number to the requester.

The local agent must:

• Be located within reasonable proximity to the principal,

regional, or district office where the individual makes the request;

and

• Provide document copies within the same time frames as the

private foundation.

Written requests for document copies. If a private foundation

receives a written request for a copy of its annual returns or

exemption application (or parts of these documents), it must give

a copy to the requester. However, this rule only applies if the

request:

• Is addressed to a private foundation's principal, regional, or

district office;

• Is delivered to that address by mail, electronic mail (email),

facsimile (fax), or a private delivery service approved by the IRS

(go to IRS.gov/PDS for the current list of approved services); and

Instructions for Form 990-PF (2025)

• Gives the address to which the document copies should be

sent.

How and when a written request is fulfilled. Requested

document copies must be mailed within 30 days from the date

the private foundation receives the request.

Unless other evidence exists, a mailed request or payment is

considered to be received by the private foundation 7 days after

the postmark date.

If an advance payment is required, copies must be provided

within 30 days from the date payment is received.

If the private foundation requires payment in advance and it

receives a request without payment or with insufficient payment,

it must notify the requester of the prepayment policy and the

amount due within 7 days from the date it receives the request.

A request that is transmitted to the private foundation by email

or fax is considered received the day the request is transmitted

successfully.

Requested documents can be emailed instead of the

traditional method of mailing if the requester consents to this

method.

A document copy is considered as provided on the:

• Postmark date,

• Private delivery date,

• Registration date for certified or registered mail,

• Postmark date on the sender's receipt for certified or

registered mail, or

• Day the email is successfully transmitted (if the requester

agreed to this method).

Requests for parts of a document copy. A person can

request all or any specific part or schedule of the annual returns

or exemption application, and the private foundation must fulfill

the person's request for a copy.

Can an agent be used to provide copies? A private

foundation can use an agent to provide document copies for the

written requests it receives. However, the agent must provide the

document copies under the same conditions imposed on the

private foundation itself. Also, if an agent fails to provide the

documents as required, the private foundation will continue to be

subject to penalties.

Example. The ABC Foundation retained an agent to provide

copies for all written requests for documents. However, ABC

Foundation received a request for document copies before the

agent did.

The deadline for providing a response is referenced by the

date the ABC Foundation received the request and not when the

agent received it. If the agent received the request first, then a

response would be referenced to the date the agent received it.

Can a fee be charged for providing copies? A private

foundation may charge a reasonable fee for providing copies.

Also, it can require the fee to be paid before providing a copy of

the requested document.

What is a reasonable fee? A fee is reasonable only if it is no

more than the per-page copying fee charged by the IRS for

providing copies, plus no more than the actual postage costs

incurred to provide the copies.

What forms of payment must the private foundation

accept? The form of payment depends on whether the request

for copies is made in person or in writing.

Cash and money orders must be accepted for in-person

requests for document copies. The private foundation, if it

wishes, may accept additional forms of payment.

A certified check, money order, and either a personal check

or credit card must be accepted for written requests for

document copies. The private foundation, if it wishes, may

accept additional forms of payment.

Instructions for Form 990-PF (2025)

Other fee information. If a private foundation provides a

requester with notice of a fee and the requester doesn't pay the

fee within 30 days, the private foundation may ignore the

request.

If a requester's check doesn't clear on deposit, the private

foundation may ignore the request.

If a private foundation doesn't require prepayment and the

requester doesn't prepay, the private foundation must receive

consent from the requester if the copying and postage charge

exceeds $20.

Private foundations subject to a harassment campaign. If

the IRS determines that a private foundation is being harassed, it

isn't required to comply with any request for copies that it

reasonably believes is part of the harassment campaign.

A group of requests for a private foundation's annual returns

or exemption application is indicative of a harassment campaign

if the requests are part of a single coordinated effort to disrupt

the operations of the private foundation rather than to collect

information about it.

See Regulations section 301.6104(d)-3 for more information.

Requests that may be disregarded without IRS approval. A

private foundation may disregard any request for copies of all or

part of any document beyond the first two received within any

30-day period or the first four received within any 1-year period

from the same individual or the same address.

Making the Annual Returns and Exemption

Application Widely Available

A private foundation doesn't have to provide copies of its annual

returns and/or its exemption application if it makes these

documents widely available. However, it must still allow public

inspection by office visitation.

How does a private foundation make its annual returns and

exemption application widely available? A private

foundation's annual returns and/or exemption application is

widely available if it meets all four of the following requirements.

1. Internet posting requirement—This is met if:

• The document is posted on the foundation's website, or

• The document is posted as part of a database of like

documents of other tax-exempt organizations on a website

established and maintained by another entity.

2. Additional posting information requirement—This is met if:

• The website through which the document is available clearly

informs readers that the document is available and provides

instructions for downloading the document;

• After it is downloaded and viewed, the web document exactly

reproduces the image of the annual returns or exemption

application as it was originally filed with the IRS, except for any

information permitted by statute to be withheld from public

disclosure; and

• Any individual with access to the Internet can access,

download, view, and print the document without special

computer hardware or software required for that format (except

software that is readily available to members of the public

without payment of any fee) and without payment of a fee to the

private foundation or to another entity maintaining the web page.

3. Reliability and accuracy requirements—To meet this, the

entity maintaining the website must:

• Have procedures for ensuring the reliability and accuracy of

the document that it posts on the page;

• Take reasonable precautions to prevent alteration,

destruction, or accidental loss of the document when posted on

its page; and

11

• Correct or replace the document if a posted document is

altered, destroyed, or lost.

4. Notice requirement—To meet this, a private foundation

must notify any individual requesting copies of its annual returns

and/or exemption application where the documents are available

(including the Internet address). If the request is made in person,

the private foundation must notify the individual immediately. If

the request is in writing, it must notify the individual within 7 days

of receiving the request.

Penalties

A penalty may be imposed on any person who doesn't make the

annual returns (including all required attachments to each return)

or the exemption application available for public inspection

according to the section 6104(d) rules discussed above. If more

than one person fails to comply, each person is jointly and

severally liable for the full amount of the penalty. The penalty

amount is $25 for each day during which a failure occurs. The

maximum penalty that may be imposed on all persons for any

one annual return is $13,000. There is no maximum penalty

amount for failure to make the exemption application available for

public inspection.

Any person who willfully fails to comply with the section

6104(d) public inspection requirements is subject to an

additional penalty of $6,500.

Requirements Placed on the IRS

The IRS makes available a private foundation's Form 990-PF,

Form 990-T, and approved exemption application. You may view

exempt organization returns free of charge on Tax Exempt

Organization Search (TEOS) at IRS.gov/TEOS. You may contact

the IRS to obtain a copy of a return if it is not available online.

Complete information is available on the IRS website at IRS.gov/

Charities-Non-Profits/Copies-of-EO-Returns-Available.

R. Disclosures Regarding Certain

Information and Services Furnished

A section 501(c) organization that offers to sell or solicits money

for specific information or a routine service to any individual that

could be obtained by the individual from a federal government

agency free or for a nominal charge must disclose that fact

conspicuously when making such offer or solicitation.

Any organization that intentionally disregards this requirement

will be subject to a penalty for each day the offers or solicitations

are made. The penalty is the greater of $1,000 or 50% of the

total cost of the offers and solicitations made on that day.

S. Organizations Organized or

Created in a Foreign Country

If the organization applies any provision of any U.S. tax treaty to

figure the foundation's taxable income, tax liability, or tax credits

in a manner different from these instructions, attach an

explanation.

Section 4948(a) imposes a 4% tax on the gross investment

income (but not capital gain net income) of an exempt foreign

private foundation from U.S. sources, such as dividends;

interest; rents; payments received on securities loans, as defined

in section 512(a)(5); and royalties. Amounts taken into income

on Form 990-T are excepted. The section 4948(a) tax replaces

the section 4940 tax on the net investment income of a domestic

private foundation. A foreign foundation doesn't complete Form

990-PF, Part IV.

Under section 4948(b), sections 507 and 508 and chapter 42

(other than section 4948) don't apply to a foreign organization

12

that from the date of its creation has received at least 85% of its

support (as defined in section 509(d), excluding gross

investment income) from sources outside the United States. The

foreign foundation's section 501(c)(3) status can be revoked,

however, if it commits a violation of chapter 42 (other than

section 4942) after receiving a warning of a violation from the

IRS, or if it commits a willful and flagrant violation. A foreign

foundation described in section 4948(b) doesn't complete Form

990-PF, Parts IX (unless claiming status as an operating

foundation), X, XII, and XIV; isn't required to send a copy of its

annual return to a state official; and isn't required to comply with

the public inspection requirements for annual returns (see G.

Furnishing Copies of Form 990-PF to State Officials and Q.

Public Inspection Requirements, earlier). The foundation must

attach a computation of the 85% test to the return.

Taxable foreign private foundations and foreign section

4947(a)(1) nonexempt charitable trusts aren't subject to excise

tax under section 4948(a) or 4940, but are subject to income tax

under subtitle A of the Code.

For these purposes, U.S. territories are considered part of the

United States, and thus territories' organizations aren't

considered foreign organizations.

T. Liquidation, Dissolution,

Termination, or Substantial

Contraction

If there is a liquidation, dissolution, termination, or substantial

contraction (defined below) of the organization, attach the

following to the return.

• A statement to the return that describes the transaction.

• A certified copy of the liquidation plan, resolution, etc. (if any)

and all amendments or supplements that weren't previously filed.

• A schedule that lists the names and addresses of all

recipients of assets.

• An explanation of the nature and fair market value of the

assets distributed to each recipient.

Additional requirements. For a complete corporate liquidation

or trust termination, attach a statement as to whether a final

distribution of assets was made and the date it was made (if

applicable).

Also, an organization must indicate:

• That it has ceased to exist and check Final return in Item G of

the Heading section on page 1 of the return; or

• That it is terminating its private foundation status under

section 507(b)(1)(B), according to U. Section 507(b)(1)(B)

Termination Notice and Filing Requirements and V. Payment of

Section 4940 Tax During Section 507(b)(1)(B) Termination, later;

or

• That it is voluntarily terminating its private foundation status

under section 507(a)(1) and owes a termination tax and must

send the notice (and tax payment, if applicable) required by Rev.

Rul. 2003-13, 2003-4 I.R.B. 305, and Rev. Rul. 2002-28,

2002-20 I.R.B. 941, to the Manager, Exempt Organizations

Determinations.

Relief from public inspection requirements. If the

organization has terminated its private foundation status under

section 507(b)(1)(A), it doesn't have to comply with the notice

and public inspection requirements of the return for the

termination year.

Filing date. See J. When and How To File, earlier, for the filing

date.

Definitions. The term “substantial contraction” includes any

partial liquidation or any other significant disposition of assets.

However, this doesn't include transfers for full and adequate

consideration or distributions of current income.

Instructions for Form 990-PF (2025)

A significant disposition of assets doesn't include any

disposition for a tax year if:

1. The total of the dispositions for the tax year is less than

25% of the fair market value of the net assets of the organization

at the beginning of the tax year, and

2. The total of the related dispositions made during prior tax

years (if a disposition is part of a series of related dispositions

made during these prior tax years) is less than 25% of the fair

market value of the net assets of the organization at the

beginning of the tax year in which any of the series of related

dispositions was made.

The facts and circumstances of the particular case will

determine whether a significant disposition has occurred through

a series of related dispositions. Ordinarily, a distribution

described in section 170(b)(1)(F)(ii) (relating to private

foundations making qualifying distributions out of corpus equal

to 100% of contributions received during the foundation's tax

year) won't be taken into account as a significant disposition of

assets. See Regulations section 1.170A-9(h)(2).

U. Section 507(b)(1)(B)

Termination—Notice and Filing

Requirements

A private foundation or nonexempt charitable trust (other than a

foundation or trust described in section 4948(b)) may terminate

its private foundation status under section 507(b)(1)(B) by

meeting the requirements of public charity status under section

509(a)(1), (2), or (3) over a continuous 60-month period that

begins with the beginning of a tax year of the organization. The

organization must give proper notice to the IRS prior to the start

of the 60-month period, and establish to the satisfaction of the

IRS within 90 days after the end of the 60-month period that it so

qualified.

If the organization fails to qualify as a public charity over the

entire 60-month period, then it will be treated as a private

foundation after the end of the 60-month period, and for any tax

year within the 60-month period in which it didn't qualify as a

public charity.

An organization gives the IRS notice of termination under

section 507(b)(1)(B) by submitting Form 8940, Request for

Miscellaneous Determinations, on which it provides the

information set forth in Regulations section 1.507-2(b)(3).

An organization may also give the notice with a request for an

advance ruling that the organization can be expected to meet the

requirements of public charity status during the 60-month period.

Form 8940, Request for Miscellaneous Determination, is also

used for this purpose. No user fee is required to provide the

required notice, but a user fee is required if an advance ruling is

requested. See the Instructions for Form 8940 for more

information. The advantage of an advance ruling is that the

organization’s grantors and contributors can generally rely on it

during the 60-month period, and the ruling constitutes

reasonable cause for abatement of penalties for failure to pay

section 4940 tax during the period. The organization itself can't

rely on the ruling to avoid private foundation status during or after

the 60-month period.

Although an organization terminating its private foundation

status under section 507(b)(1)(B) may be regarded as a public

charity for certain purposes, it is considered a private foundation

for filing requirement purposes and must file an annual return on

Form 990-PF. The return must be filed for each year in the

60-month termination period, if that period hasn't expired before

the due date of the return.

it has terminated its private foundation status and, as a result,

qualifies as a public charity. This information is provided on Form

8940.

If information is furnished establishing a successful

termination, then, for the final year of the termination period, the

organization should comply with the filing requirements for the

type of public charity it has become. See the Instructions for

Form 990 and the Instructions for Schedule A (Form 990 or

990-EZ) for details on filing requirements. This applies even if the

IRS hasn't confirmed that the organization has terminated its

private foundation status by the time the return for the final year

of the termination is due (or would be due if a return were

required).

The organization will be allowed a reasonable period of time

to file any private foundation returns required (for the last year of

the termination period) but not previously filed if it is later

determined that the organization didn't terminate its private

foundation status. Interest on any tax due will be charged from

the original due date of Form 990-PF, but penalties under

sections 6651 and 6652 won't be assessed if Form 990-PF is

filed within the period allowed by the IRS.

V. Payment of Section 4940 Tax

During Section 507(b)(1)(B)

Termination

An organization terminating its private foundation status under

section 507(b)(1)(B) may file Form 990-PF without paying the

section 4940 tax based on investment income if it filed a consent

under section 6501(c)(4) with its notice of termination prior to the

start of the 60-month period. The consent provides that the

period of limitation on the assessment of tax under chapter 42,

based on investment income for any tax year in the 60-month

period, won't expire until at least 1 year after the period for

assessing a deficiency for the last tax year in which the

60-month period would normally expire. Any foundation not

paying the tax when it files Form 990-PF must attach a copy of

the signed consent.

If the foundation didn't file the consent, the tax must be paid in

the normal manner as explained in O. Figuring and Paying

Estimated Tax and P. Tax Payment Methods for Domestic Private

Foundations, earlier. The organization may file a claim for refund

after completing termination or during the termination period.

The claim for refund must be filed on time and the organization

must supply information establishing that it qualified as a public

charity for the period for which it paid the tax.

W. Rounding, Currency, and

Attachments

Rounding off to whole dollars. You must round off cents to

whole dollars on your return and schedules. To round, drop

amounts under 50 cents and increase amounts from 50 to 99

cents to the next dollar. For example, $1.39 becomes $1 and

$2.50 becomes $3.

If you have to add two or more amounts to figure the amount

to enter on a line, include cents when adding the amounts and

round off only the total.

Currency and language requirements. Report all amounts in

U.S. dollars. State the conversion rate used. Report all items in

total, including amounts from both U.S. and non-U.S. sources.

All information must be in English.

Within 90 days after the end of the termination period, the

organization must supply information to the IRS establishing that

Instructions for Form 990-PF (2025)

13

Specific Instructions

Heading

Name and Address

If the organization operates under a name different from its legal

name, give the legal name of the organization but identify its

alternate name, after the legal name, by writing “aka” (also

known as) and the alternate name of the organization. The

address used must be that of the principal office of the

foundation.

Include the suite, room, or other unit number after the street

address. If the post office doesn't deliver mail to the street

address and the organization has a P.O. box, show the box

number instead of the street address.

Item A. Employer Identification Number

The organization should have only one EIN. If it has more than

one EIN, notify the Internal Revenue Service Center at the

address shown under J. When and How To File, earlier. Explain

what numbers the organization has, the name and address to

which each number was assigned, and the address of the

organization's principal office. The IRS will then advise which

number to use.

Item B. Telephone Number

Enter a foundation telephone number (including the area code)

that the public and government regulators may use to obtain

information about the foundation's finances and activities. This

information should be available at this telephone number during

normal business hours. If the foundation doesn't have a

telephone, enter a telephone number of a foundation official who

can provide this information during normal business hours.

Item D2. Foreign Organizations

If the foreign organization meets the 85% test of Regulations

section 53.4948-1(b), then:

• Check the box in D2 in the Heading section on page 1 of Form

990-PF,

• Check the box at the top of Part X,

• Don’t fill in Parts X and XII,

• Don’t fill in Part IX unless it is claiming status as a private

operating foundation, and

• Attach the computation of the 85% test to Form 990-PF.

Note: In addition to these requirements, foreign organizations

checking the box in D1 of the Heading on Form 990-PF don't

complete Part IV or Part I, line 7. See B. Which Parts To

Complete, earlier, for more details.

Item E. Section 507(b)(1)(A) Terminations

A private foundation that has terminated its private foundation

status under section 507(b)(1)(A) during the tax year being

reported, by distributing all its net assets to one or more public

charities without keeping any right, title, or interest in those

assets, should check this box. See Q. Public Inspection

Requirements and T. Liquidation, Dissolution, Termination, or

Substantial Contraction, earlier.

Item F. 60-Month Termination Under Section

507(b)(1)(B)

Check this box if the organization is terminating its private

foundation status under the 60-month provisions of section

507(b)(1)(B) during the period covered by this return. To begin

such a termination, a private foundation must have given

advance notice to TE/GE and provided the information outlined

14

in Regulations section 1.507-2(b)(3). See U. Section 507(b)(1)

(B) Termination Notice and Filing Requirements, earlier, for

information regarding filing requirements during a section 507(b)

(1)(B) termination.

See V. Payment of Section 4940 Tax During Section 507(b)(1)

(B) Termination, earlier, for information regarding payment of the

tax based on investment income (figured in Part V) during a

section 507(b)(1)(B) termination.

Item G. Initial Return of Certain Former Public

Charities

If this is the initial Form 990-PF return of a former public charity

under section 170(b)(1)(A)(vi) or 509(a)(2) or 509(a)(3), then the

organization is treated as a private foundation for the tax year

being reported only for purposes of section 6033 (filing Form

990-PF), section 4940 (paying excise tax on investment income),

and section 507 (terminating private foundation status).

Item H. Type of Organization

Check the box for “Section 501(c)(3) exempt private foundation”

if the foundation has a ruling or determination letter from the IRS

in effect that recognizes its exemption from federal income tax as

an organization described in section 501(c)(3) or if the

organization's exemption application is pending with the IRS.

Check the “Section 4947(a)(1) nonexempt charitable trust”

box if the trust is a nonexempt charitable trust treated as a

private foundation. All others, check the “Other taxable private

foundation” box.

Item I. Fair Market Value of All Assets

In Item I in the Heading on page 1 of Form 990-PF, enter the fair

market value of all assets the foundation held at the end of the

tax year.

Tip: This amount should be the same as the figure reported in

Part II, line 16, column (c).

Part I. Analysis of Revenue and

Expenses

Column Instructions

The total of amounts in columns (b), (c), and (d) (or any

combination of them, such as columns (b) and (d)) may differ

from the amount in column (a).

The amounts entered in column (a) and on line 5b must be

analyzed in Part XV-A.

Column (a). Revenue and Expenses per Books

Enter in column (a) all items of revenue and expense shown in

the books and records that increased or decreased the net

assets of the organization. However, don't include the value of

services donated to the foundation or items such as free use of

equipment or facilities in contributions received. Also, don't

include any expenses used to figure capital gains and losses on

lines 6, 7, and 8 or expenses included in cost of goods sold on

line 10b. For foundations that don't use the cash method of

accounting for book purposes, charitable expenditures reported

in column (a) won't necessarily match amounts reported in

column (d).

Column (b). Net Investment Income

All domestic private foundations (including section 4947(a)(1)

nonexempt charitable trusts) are required to pay an excise tax

each tax year on net investment income.

Instructions for Form 990-PF (2025)

Exempt foreign foundations are subject to an excise tax on

gross investment income from U.S. sources. These foreign

organizations should complete lines 3, 4, 5a, 5b, 11, 12, and 27b

of column (b) and report only income derived from U.S. sources.

No other income should be included. No expenses are allowed

as deductions.

Definitions. See below.

Gross investment income. Gross investment income is the

total amount of investment income that was received by a private

foundation from all sources. However, it doesn't include any

income subject to the unrelated business income tax. It includes

interest, dividends, rents, payments with respect to securities

loans (as defined in section 512(a)(5)), royalties received from

assets devoted to charitable activities, income from notional

principal contracts (as defined in Regulations section 1.863-7),

annuities, substantially similar income from ordinary and routine

investments, and income from similar sources. Therefore,

interest received on a student loan is includible in the gross

investment income of a private foundation making the loan.

Net investment income. Net investment income is the

amount by which the sum of gross investment income and the

capital gain net income exceeds the allowable deductions

discussed later. Tax-exempt interest on governmental obligations

and related expenses are excluded.

Investment income. Include in column (b) all or part of any

amount from column (a) that applies to investment income.

However, don't include in column (b) any income and related

expenses reported on Form 990-T.

For example, investment income from debt-financed property

unrelated to the organization's charitable purpose and certain

rents (and related expenses) treated as unrelated trade or

business income should be reported on Form 990-T. Income

from debt-financed property that isn't taxed under section 511 is

taxed under section 4940. Thus, if the debt/basis percentage of

a debt-financed property is 80%, only 80% of the gross income

(and expenses) for that property is used to figure the section 511

tax on Form 990-T. The remaining 20% of the gross income (and

expenses) of that property is used to figure the section 4940 tax

on net investment income on Form 990-PF. (See Form 990-T

and its instructions for more information.)

Investment expenses. Include in column (b) all ordinary and

necessary expenses paid or incurred to produce or collect

investment income from interest, dividends, rents, amounts

received from payments on securities loans (as defined in

section 512(a)(5)), royalties, income from notional principal

contracts, annuities, substantially similar income from ordinary

and routine investments, and income from similar sources; or for

the management, conservation, or maintenance of property held

for the production of income that is taxable under section 4940.

If any of the expenses listed in column (a) are paid or incurred

for both investment and charitable purposes, they must be

allocated on a reasonable basis between the investment

activities and the charitable activities so that only expenses from

investment activities appear in column (b). Examples of

allocation methods are given in the instructions for Part VIII-A.

Limitation. The deduction for expenses paid or incurred in

any tax year for producing gross investment income earned

incident to a charitable function can't be more than income

earned from the function includible as gross investment income

for the year.

For example, if rental income is incidentally realized in 2025

from historic buildings held open to the public, deductions for

amounts paid or incurred in 2025 for the production of this

income may not be more than the amount of rental income

includible as gross investment income in column (b) for 2025.

Expenses related to tax-exempt interest. Don’t include on

lines 13–23 of column (b) any expenses paid or incurred that are

Instructions for Form 990-PF (2025)

allocable to tax-exempt interest that is excluded from lines 3 and

4.

Tip: If the foundation is a partner in a partnership, then pertinent

items of income, gain, loss, deduction, or credit from the entity's

Schedule K-1 (Form 1065) should generally be reported in

columns (b) and (c) for the tax year of the entity ending with or

within the foundation's tax year. See Regulations sections

53.4940-1(c)(1) and 53.4942(a)-2(d)(1).

By contrast, if the foundation is a beneficiary of a trust,

distributions from the trust aren't included in income in column

(c) if the trust was created and funded by a person other than the

foundation and aren't included in column (b). See Regulations

section 53.4942(a)-2(d)(2)(vii) and Notice 2004-35, 2004-19

I.R.B. 889, available at IRS.gov/irb/2004-19_IRB/index.html.

Column (c). Adjusted Net Income

Tip: Nonoperating private foundations should see Nonoperating

private foundations, later, to find out if they need to complete

column (c).

Private operating foundations. All organizations that claim

status as private operating foundations under section 4942(j)(3)

or (5) must complete all lines of column (c) that apply, according

to the general rules for income and expenses that apply to this

column, the specific line instructions for lines 3–27c, the Special

rule, later, and Examples 1 and 2, later.

General rules. In general, adjusted net income is the amount of

a private foundation's gross income that is more than the

expenses of earning the income. The modifications and

exclusions explained below are applied to gross income and

expenses in figuring adjusted net income.

For income and expenses, include on each line of column (c)

only that portion of the amount from column (a) allocable to the

adjusted net income computation.

Income. For column (c), include income from charitable

functions, investments, related and unrelated business, and

amounts set aside; short-term capital gains and losses;

recoveries of amounts that were treated as qualifying

distributions in prior tax years; and amounts set aside that are

determined not to be needed for the purposes for which they

were set aside. Don’t include gifts, grants or contributions, or

long-term capital gains or losses.

Expenses. Deductible expenses include the part of a private

foundation's operating expenses paid or incurred to produce or

collect gross income reported on lines 3–11 of column (c). If only

part of the property produces income includible in column (c),

deductions such as interest, taxes, and rent must be divided

between the charitable and noncharitable uses of the property. If

the deductions for property used for a charitable, educational, or

other similar purpose are more than the income from the

property, the excess won't be allowed as a deduction but may be

treated as a qualifying distribution in Part I, column (d). See

Examples 1 and 2, below.

Special rule. The expenses attributable to each specific

charitable activity, limited by the amount of income from the

activity, must be reported in column (c) on lines 13–26. If the

expenses of any charitable activity exceed the income generated

by that activity, only the excess of these expenses over the

income should be reported in column (d).

Examples.

1. A charitable activity generated $5,000 of income and

$4,000 of expenses. Report all income and expenses in column

(c) and none in column (d).

2. A charitable activity generated $5,000 of income and

$6,000 of expenses. Report $5,000 of income and $5,000 of

15

expenses in column (c) and the excess expenses of $1,000 in

column (d).

Nonoperating private foundations. A foundation that doesn't

claim status as a private operating foundation isn't required to

complete column (c) unless either of the following applies.

1. The foundation received income from a charitable activity

and wishes to claim a qualifying distribution for expenses

incurred in the activity in excess of the income. The foundation

must report such income only on lines 10 and/or 11 in column

(c), and any expenses relating to this income following the

general rules and the special rule above. See Examples 1 and 2,

above. The foundation need not report other kinds of income and

expenses (such as investment income and expenses) in column

(c).

2. The foundation claims status under section 170(b)(1)(F)

(iii) (relating to foundations that maintain a common fund). The

foundation must complete all lines of column (c) that apply.

Column (d). Disbursements for Charitable

Purposes

Expenses entered in column (d) relate to activities that constitute

the charitable purpose(s) of the foundation.

For amounts entered in column (d):

• Use the cash receipts and disbursements method of

accounting no matter what accounting method is used in

keeping the books of the foundation;

• Don’t include any amount or part of an amount included in

column (b) or (c);

• Include on lines 13–25 all expenses, including necessary and

reasonable administrative expenses, paid by the foundation for

religious, charitable, scientific, literary, educational, or other

public purposes, or for the prevention of cruelty to children or

animals;

• Include a distribution of property at the fair market value on

the date the distribution was made; and

• Include only the part entered in column (a) that is allocable to

the charitable purposes of the foundation.

Example. An educational seminar produced $1,000 in

income that was reportable in columns (a) and (c). Expenses

attributable to this charitable activity were $1,900. Only $1,000 of

expense should be reported in column (c) and the remaining

$900 in expense should be reported in column (d).

Qualifying distributions. Generally, amounts paid to

accomplish the foundation’s exempt purposes are qualifying

distributions. Special rules apply in certain situations—see the

line 25, column (d), instructions.

Tip: The total of the expenses and disbursements on line 26 is

also entered on line 1a in Part XI to figure qualifying distributions.

Alternative to completing lines 13–25. If you want to provide

an analysis of disbursements that is more detailed than column

(d), you may attach a schedule instead of completing lines 13–

25. The schedule must include all the specific items of lines 13–

25, and the total from the schedule must be entered on line 26,

column (d).

Line Instructions

Line 1. Contributions, gifts, grants, etc., received. Enter the

total of gross contributions, gifts, grants, and similar amounts

received.

Schedule B (Form 990). If money, securities, or other

property valued at $5,000 or more was received, directly or

indirectly, from any one person during the year, complete

Schedule B and attach it to the return. If the foundation isn't

16

required to complete Schedule B (no person contributed $5,000

or more), be sure to check the box on line 2.

To determine whether a person has contributed $5,000 or

more, total only gifts of $1,000 or more from each person.

Separate and independent gifts need not be totaled if less than

$1,000. If a contribution is in the form of property, describe the

property and include its fair market value.

The term “person” includes individuals, fiduciaries,

partnerships, corporations, associations, trusts, and exempt

organizations.

Split-interest trusts. Distributions from split-interest trusts

should be entered on line 1, column (a). They are a part of the

amount on line 1.

Substantiation requirements. An organization must keep

records, as required by the regulations under section 170.

Generally, a donor making a charitable contribution of $250 or

more won't be allowed a federal income tax deduction unless the

donor obtains a written acknowledgment from the donee

organization by the earlier of the date on which the donor files a

tax return for the tax year in which the contribution was made or

the due date, including extensions, for filing that return. However,

see section 170(f)(8)(D) and Regulations section 1.170A-13(f)

for exceptions to this rule.

The written acknowledgment the foundation provides to the

donor must show:

1. The amount of cash contributed;

2. A description of any property contributed;

3. Whether the foundation provided any goods or services to

the donor; and

4. A description and a good-faith estimate of the value of

any goods or services the foundation gave in return for the

contribution, unless:

a. The goods and services have insubstantial value, or

b. A statement is included that these goods and services

consist solely of intangible religious benefits.

Generally, if a charitable organization solicits or receives a

contribution of more than $75 for which it gives the donor

something in return (a quid pro quo contribution), the

organization must inform the donor, by written statement, that the

amount of the contribution deductible for federal income tax

purposes is limited to the amount by which the contribution

exceeds the value of the goods or services received by the

donor. The written statement must also provide the donor with a

good-faith estimate of the value of goods or services given in

return for the contribution.

Penalties. An organization that doesn't make the required

disclosure for each quid pro quo contribution will incur a penalty

of $10 for each failure, not to exceed $5,000 for a particular

fundraising event or mailing, unless it can show reasonable

cause for not providing the disclosure.

For more information. See Regulations section 1.170A-13

for more information on charitable recordkeeping and

substantiation requirements.

Line 2. Check this box if the foundation isn't required to attach

Schedule B.

Line 3. Interest on savings and temporary cash investments. Enter in the columns below.

In column (a). Enter the total amount of interest income from

investments reportable in Part II, line 2. These include savings or

other interest-bearing accounts and temporary cash

investments, such as money market funds, commercial paper,

certificates of deposit, and U.S. Treasury bills or other

government obligations that mature in less than 1 year.

Instructions for Form 990-PF (2025)

In column (b). Enter the amount of interest income shown in

column (a). Don’t include interest on tax-exempt government

obligations.

In column (c). Enter the amount of interest income shown in

column (a). Include interest on tax-exempt government

obligations.

Line 4. Dividends and interest from securities. Enter in the

columns below.

In column (a). Enter the amount of dividend and interest

income from securities (stocks and bonds) reportable in Part II,

line 10. Include amounts received from payments on securities

loans, as defined in section 512(a)(5). Don’t include any capital

gain dividends reportable on line 6a. Report income from

program-related investments on line 11. For debt instruments

with an original issue discount, report the original issue discount

ratably over the life of the bond on line 4. See section 1272 for

more information.

In column (b). Enter the amount of dividend and interest

income and payments on securities loans from column (a). Don’t

include interest on tax-exempt government obligations.

In column (c). Enter the amount of dividend and interest

income and payments on securities loans from column (a).

Include interest on tax-exempt government obligations.

Line 5a. Gross rents. Enter in the columns below.

In column (a). Enter the gross rental income for the year

from investment property reportable in Part II, line 11.

In columns (b) and (c). Enter the gross rental income from

column (a).

Line 5b. Net rental income or (loss). Figure the net rental

income or (loss) for the year and enter that amount on the entry

line to the left of column (a).

Report rents from other sources on line 11. Enter any

expenses attributable to the rental income reported on line 5,

such as interest and depreciation, on lines 13–23.

Line 6a. Net gain or (loss) from sale of assets. Enter the net

gain or (loss) per books from all asset sales not included on

line 10.

For assets sold and not included in Part IV, attach a schedule

showing:

• Date acquired;

• Manner of acquisition;

• Gross sales price;

• Cost, other basis, or value at time of acquisition (if donated)

and which of these methods was used;

• Date sold;

• To whom sold;

• Expense of sale and cost of improvements made subsequent

to acquisition; and

• Depreciation since acquisition (if depreciable property).

Line 6b. Gross sales price for all assets on line 6a. Enter

the gross sales price from all asset sales whose net gain or loss

was reported on line 6a.

Line 7. Capital gain net income. Enter the capital gain net

income from Part IV, line 2. See the Part IV instructions.

Line 8. Net short-term capital gain. Include only net

short-term capital gain for the year (assets sold or exchanged

that were held not more than 1 year). Don’t include net long-term

capital gain or net loss in column (c).

Don’t include on line 8 a net gain from the sale or exchange of

depreciable property, or land used in a trade or business

(section 1231) and held for more than 1 year. However, include

net loss from such property on line 23 as an Other expense.

In general, foundations may carry to line 8 the net short-term

capital gain reported in Part IV, line 3. However, if the foundation

Instructions for Form 990-PF (2025)

had any short-term capital gain from sales of debt-financed

property, add it to the amount reported in Part IV, line 3, to figure

the amount to include on line 8. For information dealing with

“debt-financed property,” see the Instructions for Form 990-T.

Tip: Only private operating foundations report their short-term

capital gains on line 8.

Line 9. Income modifications. Include on this line:

1. Amounts received or accrued as repayments of amounts

taken into account as qualifying distributions;

2. Amounts received or accrued from the sale or other

disposition of property to the extent that the acquisition of the

property was considered a qualifying distribution for any tax

year;

3. Any amount set aside for a specific project (see

explanation in the instructions for Part XI) that wasn't necessary

for the purposes for which it was set aside;

4. Income received from an estate, but only if the estate was

considered terminated for income tax purposes due to a

prolonged administration period; and

5. Amounts treated in an earlier tax year as qualifying

distributions to:

• A nonoperating private foundation if the amounts weren't

redistributed by the grantee organization by the close of its tax

year following the year in which it received the funds, or

• An organization controlled by the distributing foundation or a

disqualified person if the amounts weren't redistributed by the

grantee organization by the close of its tax year following the

year in which it received the funds.

Lines 10a, b, c. Gross profit from sales of inventory. Enter

the gross sales (less returns and allowances), cost of goods

sold, and gross profit or (loss) from the sale of all inventory

items, including those sold in the course of special events and

activities. These inventory items are the ones the organization

either makes to sell to others or buys for resale.

Don’t report any sales or exchanges of investments on

line 10.

Don’t include any profit or (loss) from the sale of capital items

such as securities, land, buildings, or equipment on line 10.

Enter these amounts on line 6a.

Don’t include any business expenses such as salaries, taxes,

rent, etc., on line 10. Include them on lines 13–23.

Attach a schedule showing the following items: gross sales,

cost of goods sold, and gross profit or (loss). These items should

be classified according to type of inventory sold (such as books,

tapes, other educational or religious material, etc.). The totals

from the schedule should agree with the entries on lines 10a–

10c.

In column (c), enter the gross profit or (loss) from sales of

inventory shown on line 10c, column (a).

Line 11. Other income. Enter the total of all the foundation's

other income for the year. Attach a schedule that gives a

description and the amount of the income. Include all income not

reported on lines 1 through 10c. Also, see Part XV-A, Line 11,

later.

Include imputed interest on certain deferred payments figured

under section 483 and any investment income not reportable on

lines 3 through 5, including income from program-related

investments (defined in the instructions for Part VIII-B).

Don’t include unrealized gains and losses on investments

carried at market value. Report those as fund balance or net

asset adjustments in Part III.

In column (b). Enter the amount of investment income

included in line 11, column (a). Include dividends, interest, rents,

17

and royalties derived from assets devoted to charitable activities,

such as interest on student loans.

In column (c). Include all other items includible in adjusted

net income not covered elsewhere in column (c).

Line 12. Total. Enter the total of lines 1–11 in columns (a)–(c).

In column (b). Domestic organizations should enter the total

of lines 3–11. Tax-exempt foreign foundations should exclude the

line 7 amount from the total.

Line 13. Compensation of officers, directors, trustees, etc.

Enter in the columns below.

In column (a). Enter the total compensation for the year of all

officers, directors, and trustees. If none was paid, enter zero.

Complete line 1 of Part VII to show the compensation of officers,

directors, trustees, and foundation managers.

In columns (b), (c), and (d). Enter the portion of the

compensation included in column (a) that is applicable to the

column. For example, in column (c), enter the portion of the

compensation included in column (a) paid or incurred to produce

or collect income included in column (c).

Line 14. Other employee salaries and wages. Enter the

salaries and wages of all employees other than those included

on line 13.

Employee leasing companies and professional employer

organizations. In some cases, an exempt organization “leases”

one or more “employees” from another company, which may be

in the business of leasing employees. Alternatively, the

organization may enter into an agreement with a professional

employer organization to perform some or all of the federal

employment tax withholding, reporting, and payment functions

related to workers performing services for the organization. The

organization should treat employees of an employee leasing

company or a professional employer organization (whether or

not certified under the Certified Professional Employer

Organization Program (CPEO)) as the organization's own

employees and should report the compensation and other items

in Part IV as if the organization had paid the officers, directors,

trustees, and key employees directly. For more information, visit

IRS.gov/CPEO. An employee is defined as, any individual who,

under the usual common law rules applicable in determining the

employer-employee relationship, has the status of an employee,

and any other individual who is treated as an employee for

federal employment tax purposes under section 3121(d). See

Pub. 1779 for more information.

Line 15. Contributions to employee pension plans and other benefits. Enter the employer's share of contributions the

organization paid to qualified and nonqualified pension plans

and the employer's share of contributions to employee benefit

programs (such as insurance, health, and welfare programs) that

aren't an incidental part of a pension plan. Complete the return/

report of the Form 5500 series appropriate for the organization's

plan. See the Instructions for Form 5500 for information about

employee welfare benefit plans required to file that form.

Also include the amount of federal, state, and local payroll

taxes for the year, but only include those that are imposed on the

organization as an employer. This includes the employer's share

of social security and Medicare taxes, FUTA tax, state

unemployment compensation tax, and other state and local

payroll taxes. Don’t include taxes withheld from employees'

salaries and paid over to the various governmental units (such as

federal and state income taxes and the employee's share of

social security and Medicare taxes).

Lines 16a, b, and c. Legal, accounting, and other professional fees. On the appropriate line(s), enter the legal, accounting,

auditing, and other professional fees (such as fees for

fundraising or investment services) charged by outside firms and

individuals who aren't employees of the foundation.

18

Attach a schedule for lines 16a, b, and c. Show the type of

service and expense for each. If the same person provided more

than one of these services, include an allocation of those

expenses.

Report any fines, penalties, or judgments imposed against

the foundation as a result of legal proceedings on line 23.

Line 18. Taxes. Attach a schedule listing the type and amount

of each tax reported on line 18. Don’t enter any taxes included

on line 15.

In column (a). Enter the taxes paid (or accrued) during the

year. Include all types of taxes recorded on the books, including

real estate tax not reported on line 20, the tax on investment

income, and any income tax.

In column (b). Enter only those taxes included in column (a)

related to investment income taxable under section 4940. Don’t

include the section 4940 tax paid or incurred on net investment

income or the section 511 tax on unrelated business income.

Sales taxes may not be deducted separately but must be treated

as a part of the cost of acquired property or as a reduction of the

amount realized on disposition of the property.

In column (c). Enter only those taxes included in column (a)

that relate to income included in column (c). Don’t include any

excise tax paid or incurred on the net investment income (as

shown in Part V) or any tax reported on Form 990-T.

In column (d). Don’t include any excise tax paid on

investment income (as reported in Part V of this return or the

equivalent part of a return for prior years) unless the organization

is claiming status as a private operating foundation and

completes Part XIII.

Line 19. Depreciation and depletion.

In column (a). Enter the expense recorded in the books for

the year.

For depreciation, attach a schedule showing:

• A description of the property,

• The date acquired,

• The cost or other basis (exclude any land),

• The depreciation allowed or allowable in prior years,

• The method of computation,

• The rate (%) or life (years), and

• The depreciation this year.

On a separate line on the schedule, show the amount of

depreciation included in cost of goods sold and not included on

line 19.

In columns (b) and (c). A deduction for depreciation is

allowed only for property used in the production of income

reported in the column, and only using the straight line method of

figuring depreciation. A deduction for depletion is allowed but

must be figured only using the cost depletion method.

The basis used in figuring depreciation and depletion is the

basis determined under normal basis rules, without regard to the

special rules for using the fair market value on December 31,

1969, that relate only to gain or loss on dispositions for purposes

of the tax on net investment income.

Line 20. Occupancy. Enter the amount paid or incurred for the

use of office space or other facilities. If the space is rented or

leased, enter the amount of rent. If the space is owned, enter the

amount of mortgage interest, real estate taxes, and similar

expenses, but not depreciation reportable on line 19. In either

case, include the amount for utilities and related expenses (for

example, heat, lights, water, power, telephone, sewer, trash

removal, outside janitorial services, and similar services). Don’t

include any salaries of the organization's own employees

reportable on line 14.

Line 21. Travel, conferences, and meetings. Enter the

expenses for officers, employees, or others during the year for

travel, attending conferences, meetings, etc. Include

Instructions for Form 990-PF (2025)

transportation (including fares, mileage allowance, or automobile

expenses), meals and lodging, and related costs whether paid

on the basis of a per diem allowance or actual expenses

incurred. Don’t include any compensation paid to those who

participate.

In column (b). Only 50% of the expense for business meals

paid or incurred in connection with travel, meetings, etc., relating

to the production of investment income may be deducted in

figuring net investment income (section 274(n)).

In column (c). Subject to the Special rule, earlier, limiting

amounts reported in column (c) by the income generated by a

charitable activity, enter the total amount of expenses paid or

incurred by officers, employees, or others for travel, conferences,

meetings, etc., related to income included in column (c).

Line 22. Printing and publications. Enter the expenses for

printing or publishing and distributing any newsletters,

magazines, etc. Also include the cost of subscriptions to, or

purchases of, magazines, newspapers, etc.

Line 23. Other expenses. Enter all other expenses for the year.

Include all expenses not reported on lines 13–22. Attach a

schedule showing the type and amount of each expense.

If a deduction is claimed for amortization, attach a schedule

showing:

• Description of the amortized expenses;

• Date acquired, completed, or expended;

• Amount amortized;

• Deduction for prior years;

• Amortization period (number of months);

• Current-year amortization; and

• Total amount of amortization.

In column (c). In addition to the applicable portion of

expenses from column (a), include any net loss from the sale or

exchange of land or depreciable property that was held for more

than 1 year and used in a trade or business.

A deduction for amortization is allowed but only for assets

used for the production of income reported in column (c).

Line 25. Contributions, gifts, grants paid. Don’t report on

line 25 direct program expenditures that aren't contributions,

gifts, or grants. These amounts should be reported on lines 13–

24.

In column (a). Enter the total of all contributions, gifts, grants,

and similar amounts paid (or accrued) for the year. List each

contribution, gift, grant, etc., in Part XIV, or attach a schedule of

the items included on line 25 and list:

1. Name and address of donee;

2. Relationship of donee if related by:

a. Blood,

b. Marriage,

c. Adoption, or

d. Employment (including children of employees) to any

disqualified person (see C. Definitions, earlier, for definitions);

and

3. The organizational status of donee (for instance, public

charity—an organization described in section 509(a)(1), (2), or

(3)).

You don't have to give the name of any indigent person who

received one or more gifts or grants from the foundation unless

that individual is a disqualified person or one who received a

total of more than $1,000 from the foundation during the year.

Activities should be described according to purpose and in

greater detail than merely charitable, educational, religious, or

scientific activities. For example, use identification such as

payments for nursing service, for fellowships, or for assistance to

indigent families.

Instructions for Form 990-PF (2025)

Foundations may include, as a single entry on the schedule,

the total of amounts paid as grants for which the foundation

exercised expenditure responsibility. Attach a separate report for

each grant.

When the fair market value of the property at the time of

disbursement is the measure of a contribution, the schedule

must also show:

• A description of the contributed property,

• The book value of the contributed property,

• The method used to determine the book value,

• The method used to determine the fair market value, and

• The date of the gift.

Tip: The difference between fair market value and book value

should be shown in the books of account and as a net asset

adjustment in Part III.

In column (d). Enter on line 25 all contributions, gifts, and

grants the foundation paid during the year with the following

exceptions.

• Don’t include contributions to organizations controlled by the

foundation or by one or more disqualified persons, or

contributions to nonoperating private foundations, unless the

donee organization is exempt from tax under section 501(c)(3)

and redistributes the contributions, and the foundation maintains

sufficient evidence of redistribution, in accordance with section

4942(g)(3) and Regulations section 53.4942(a)-3(c).

• Don’t include contributions paid from a nonoperating private

foundation to a Type III supporting organization, as defined

under section 4943(f)(5), that isn't a functionally integrated Type

III supporting organization, as defined under section 4943(f)(5)

(B). See Regulations section 1.509(a)-4(i).

• Don’t include contributions paid from a nonoperating private

foundation to any supporting organization if a disqualified person

of the private foundation controls the supporting organization or

any of its supported organizations. See Regulations section

53.4942(a)-3(a)(3).

• Don’t reduce the amount of grants paid in the current year by

the amount of grants paid in a prior year returned or recovered in

the current year. Report those repayments on Part I, line 9,

column (c), and in Part X, line 4.

• Don’t include any payments of set-asides (see the instructions

for Part XI, line 3) taken into account as qualifying distributions in

the current year or any prior year. All set-asides are included in

qualifying distributions (Part XI, line 3) in the year of the

set-aside, regardless of when paid.

• Don’t include current-year write-offs of prior years'

program-related investments. All program-related investments

are included in qualifying distributions (Part XI, line 1b) in the

year the investment is made.

• Don’t include any payments that aren't qualifying distributions,

as defined in section 4942(g)(1).

Net Amounts

Line 27a. Excess of revenue over expenses and disbursements. Subtract line 26, column (a), from line 12, column (a),

and enter the result. Generally, the amount shown in column (a)

on this line is also the amount by which net assets (or fund

balances) have increased or decreased for the year. See Part III.

Analysis of Changes in Net Assets or Fund Balances, later.

Line 27b. Net investment income. Domestic organizations

should subtract line 26, column (b), from line 12, column (b), and

enter the result. Exempt foreign organizations should enter the

amount shown on line 12, column (b). However, if the

organization is a domestic organization and line 26, column (b),

is more than line 12, column (b) (such as when expenses exceed

income), enter zero (not a negative amount).

19

Line 27c. Adjusted net income. Subtract line 26, column (c),

from line 12, column (c), and enter the result.

Part II. Balance Sheets

For column (b), show the book value at the end of the year. For

column (c), show the fair market value at the end of the year.

Attached schedules must show the end-of-year value for each

asset listed in columns (b) and (c).

Foundations whose books of account included total assets of

$5,000 or more at any time during the year must complete all of

columns (a), (b), and (c).

Foundations with less than $5,000 of total assets per books at

all times during the year must complete all of columns (a) and (b)

and only line 16 of column (c).

Line 1. Cash—Non-interest-bearing. Enter the amount of

cash on deposit in checking accounts, deposits in transit,

change funds, petty cash funds, and any other

non-interest-bearing account. Don’t include advances to

employees or officers or refundable deposits paid to suppliers or

others.

Line 2. Savings and temporary cash investments. Enter the

total of cash in savings or other interest-bearing accounts and

temporary cash investments, such as money market funds,

commercial paper, certificates of deposit, and U.S. Treasury bills

or other governmental obligations that mature in less than 1 year.

Line 3. Accounts receivable. On the dashed lines to the left of

column (a), enter the year-end figures for total accounts

receivable and allowance for doubtful accounts from the sale of

goods and/or the performance of services. In columns (a), (b),

and (c), enter net amounts (total accounts receivable reduced by

the corresponding allowance for doubtful accounts). Claims

against vendors or refundable deposits with suppliers or others

may be reported here if not significant in amount. (Otherwise,

report them on line 15.) Any receivables due from officers,

directors, trustees, foundation managers, or other disqualified

persons must be reported on line 6. Report receivables

(including loans and advances) due from other employees on

line 15.

Line 4. Pledges receivable. On the dashed lines to the left of

column (a), enter the year-end figures for total pledges

receivable and allowance for doubtful accounts (pledges

estimated to be uncollectible). In columns (a), (b), and (c), enter

net amounts (total pledges receivable reduced by the

corresponding allowance for doubtful accounts).

Line 5. Grants receivable. Enter the total grants receivable

from governmental agencies, foundations, and other

organizations as of the beginning and end of the year.

Line 6. Receivables due from officers, directors, trustees,

and other disqualified persons. Enter here (and on an

attached schedule described below) all receivables due from

officers, directors, trustees, foundation managers, and other

disqualified persons and all secured and unsecured loans

(including advances) to such persons. Don’t adjust the amounts

reported by any amount(s) estimated to be uncollectible.

“Disqualified person” is defined in C. Definitions, earlier.

Attached schedules. 1. On the required schedule, report

each loan separately, even if more than one loan was made to

the same person or the same terms apply to all loans made.

Salary advances and other advances for the personal use and

benefit of the recipient and receivables subject to special terms

or arising from transactions not functionally related to the

foundation's charitable purposes must be reported as separate

loans for each officer, director, etc.

2. Receivables that are subject to the same terms and

conditions (including credit limits and rate of interest) as

20

receivables due from the general public from an activity

functionally related to the foundation's charitable purposes may

be reported as a single total for all the officers, directors, etc.

Travel advances made for official business of the organization

may also be reported as a single total.

For each outstanding loan or other receivable that must be

reported separately, the attached schedule should show the

following information (preferably using columns).

1. Borrower's name and title.

2. Original amount.

3. Balance due.

4. Date of note.

5. Maturity date.

6. Repayment terms.

7. Interest rate.

8. Security provided by the borrower.

9. Purpose of the loan.

10. Description and fair market value of the consideration

furnished by the lender (for example, cash—$1,000; or 100

shares of XYZ, Inc., common stock— $9,000).

The above detail isn't required for receivables or travel advances

that may be reported as a single total (see the discussion of

receivables in (2) above); however, report and identify those

totals separately on the attachment.

Line 7. Other notes and loans receivable. On the dashed

lines to the left of column (a), enter the combined total year-end

figures for other notes receivable and loans receivable and the

allowance for doubtful accounts.

Notes receivable. In columns (a), (b), and (c), enter the

amount of all notes receivable not listed on line 6 and not

acquired as investments. Attach a schedule similar to the one for

line 6. The schedule should also identify the relationship of the

borrower to any officer, director, trustee, foundation manager, or

other disqualified person.

For a note receivable from any section 501(c)(3) organization,

list only the name of the borrower and the balance due on the

required schedule.

Loans receivable. In columns (a), (b), and (c), enter the

gross amount of loans receivable, minus the allowance for

doubtful accounts, from the normal activities of the filing

organization (such as scholarship loans). An itemized list of

these loans isn't required, but attach a schedule showing the

total amount of each type of outstanding loan. Report loans to

officers, directors, trustees, foundation managers, or other

disqualified persons on line 6 and loans to other employees on

line 15.

Line 8. Inventories for sale or use. Enter the amount of

materials, goods, and supplies purchased or manufactured by

the organization and held for sale or use in some future period.

Line 9. Prepaid expenses and deferred charges. Enter the

amount of short-term and long-term prepayments of expenses

attributable to one or more future accounting periods. Examples

include prepayments of rent, insurance, and pension costs, and

expenses incurred in connection with a solicitation campaign to

be conducted in a future accounting period.

Lines 10a, b, and c. Investments—government obligations,

corporate stock and bonds. Enter the book value (which may

be market value) of these investments.

Attach a schedule that lists each security held at the end of

the year and shows whether the security is listed at cost

(including the value recorded at the time of receipt in the case of

donated securities) or end-of-year market value. Don’t include

amounts shown on line 2. Governmental obligations reported on

Instructions for Form 990-PF (2025)

line 10a are those that mature in 1 year or more. Debt securities

of the U.S. Government may be reported as a single total rather

than itemized. Obligations of state and municipal governments

may also be reported as a lump-sum total. Don’t combine U.S.

Government obligations with state and municipal obligations on

this schedule.

Line 11. Investments—land, buildings, and equipment. On

the first dashed line to the left of column (a), enter the year-end

book value (excluding accumulated depreciation), and on the

second dashed line, enter the accumulated depreciation of all

land, buildings, and equipment held for investment purposes,

such as rental properties. In columns (a) and (b), enter the book

value of all land, buildings, and equipment held for investment

less accumulated depreciation. In column (c), enter the fair

market value of these assets. Attach a schedule listing these

investment fixed assets held at the end of the year and showing,

for each item or category listed, the original cost or other basis,

accumulated depreciation, and ending book value.

Line 12. Investments—mortgage loans. Enter the amount of

mortgage loans receivable held as investments but don't include

program-related investments (see the instructions for line 15).

Line 13. Investments—other. Enter the amount of all other

investment holdings not reported on lines 10 through 12. Attach

a schedule listing and describing each of these investments held

at the end of the year. Show the book value for each and indicate

whether the investment is listed at cost or end-of-year market

value. Don’t include program-related investments (see the

instructions for line 15).

Line 14. Land, buildings, and equipment. On the first dashed

line to the left of column (a), enter the year-end book value

(excluding accumulated depreciation), and on the second

dashed line, enter the accumulated depreciation of all land,

buildings, and equipment owned by the organization and not

held for investment. In columns (a) and (b), enter the book value

of all land, buildings, and equipment not held for investment less

accumulated depreciation. In column (c), enter the fair market

value of these assets. Include any property, plant, and

equipment owned and used by the organization to conduct its

charitable activities. Attach a schedule listing these fixed assets

held at the end of the year and showing the original cost or other

basis, accumulated depreciation, and ending book value of each

item or category listed.

Line 15. Other assets. List and show the book value of each

category of assets not reportable on lines 1 through 14. Attach a

separate schedule if more space is needed.

One type of asset reportable on line 15 is program-related

investments. These are investments made primarily to

accomplish a charitable purpose of the filing organization with no

significant purpose to produce income.

Line 16. Total assets. All filers must complete line 16 of

columns (a), (b), and (c). These entries represent the totals of

lines 1 through 15 of each column. However, foundations that

have assets of less than $5,000 per books at all times during the

year need not complete lines 1 through 15 of column (c).

Tip: The column (c) amount is also entered on the entry space

for Item I in the Heading section on page 1.

Line 17. Accounts payable and accrued expenses. Enter

the total of accounts payable to suppliers and others and

accrued expenses, such as salaries payable, accrued payroll

taxes, and interest payable.

Line 18. Grants payable. Enter the unpaid portion of grants

and awards the organization has made a commitment to pay

other organizations or individuals, whether or not the

commitments have been communicated to the grantees.

Instructions for Form 990-PF (2025)

Line 19. Deferred revenue. Include revenue that the

organization has received but not yet earned as of the balance

sheet date under its method of accounting.

Line 20. Loans from officers, directors, trustees, and other

disqualified persons. Enter the unpaid balance of loans

received from officers, directors, trustees, and other disqualified

persons. For loans outstanding at the end of the year, attach a

schedule that shows (for each loan) the name and title of the

lender and the information listed in items 2 through 10 of the

instructions for line 6, earlier.

Line 21. Mortgages and other notes payable. Enter the

amount of mortgages and other notes payable at the beginning

and end of the year. Attach a schedule showing, as of the end of

the year, the total amount of all mortgages payable and, for each

nonmortgage note payable, the name of the lender and the other

information specified in items 2 through 10 of the instructions for

line 6, earlier. The schedule should also identify the relationship

of the lender to any officer, director, trustee, foundation manager,

or other disqualified person.

Line 22. Other liabilities. List and show the amount of each

liability not reportable on lines 17 through 21. Attach a separate

schedule if more space is needed.

Lines 24 Through 30. Net Assets or Fund

Balances

FASB Accounting Standards Codification 958, Not-for-Profit Entities (ASC 958). ASC 958 provides standards for external

financial statements certified by an independent accountant for

certain types of nonprofit organizations.

While some states may require reporting according to ASC

958, the IRS does not. However, a Form 990-PF return prepared

according to ASC 958 will be acceptable to the IRS.

Foundations that follow ASC 958. Check the box above

line 24, and complete lines 24 and 25 and lines 29 and 30.

Classify and report net assets in two groups in Part II (net assets

without donor restrictions and net assets with donor restrictions)

based on the existence or absence of donor-imposed

restrictions and the nature of those restrictions. Enter the sum of

the two classes of net assets on line 29. On line 30, add the

amounts on lines 23 and 29 to show total liabilities and net

assets. The amount on line 16 must equal line 30.

Caution: Effective for reporting years ending after December

15, 2017, ASC 958-205, Not-for-Profit Entities—Presentation of

Financial Statements (ASC 958), addresses reporting of

donor-restricted endowments and board-designated (quasi)

endowments. Further, many states have enacted the Uniform

Prudent Management of Institutional Funds Act (UPMIFA). If the

organization is subject to the UPMIFA or ASC 958, it may affect

the amounts reported on lines 24 and 25.

Line 24. Net assets without donor restrictions. Enter the

balances per books of the net assets without donor restrictions

class of net assets. For years ending after December 15, 2017,

ASC 958 refers to “unrestricted net assets” as “net assets

without donor restrictions.” Net assets without donor restrictions

are neither permanently restricted nor temporarily restricted by

donor-imposed stipulations. All funds without donor-imposed

restrictions must be classified as net assets without donor

restrictions, regardless of the existence of any board

designations or appropriations.

Line 25. Net assets with donor restrictions. This line can be

used to show the balance per books of net assets with donorimposed restrictions that may require resources to be used after

a specified date (time restrictions), or used for a specified

purpose (purpose restrictions), or both.

21

Foundations that don’t follow ASC 958. Check the box above

line 26 and report account balances on lines 26 through 30.

Report capital stock, trust principal, or current funds on line 26.

Report paid-in capital surplus or land, building, or equipment

funds on line 27. Report retained earnings, endowment,

accumulated income, or other funds on line 28.

Line 26. Capital stock, trust principal, or current funds. For

corporations, enter the balance per books for capital stock

accounts. Show par or stated value (or for stock with no par or

stated value, total amount received upon issuance) of all classes

of stock issued and, as yet, uncanceled. For trusts, enter the

amount in the trust principal or corpus account. For foundations

continuing to use the fund method of accounting, enter the fund

balances for the foundation's current restricted and unrestricted

funds.

Line 27. Paid-in or capital surplus, or land, building, and

equipment fund. Enter the balance per books for all paid-in

capital in excess of par or stated value for all stock issued and

uncanceled. If stockholders or others gave donations that the

organization records as paid-in capital, include them here.

Report any current-year donations you included on line 27 in Part

I, line 1. The fund balance for the land, building, and equipment

fund would be entered here.

Line 28. Retained earnings, accumulated income, endowment, or other funds. For corporations, enter the balance in

the retained earnings, or similar account, minus the cost of any

corporate treasury stock. For trusts, enter the balance per books

in the accumulated income or similar account. For foundations

using fund accounting, enter the total of the fund balances for

the permanent and term endowment funds as well as balances

of any other funds not reported on lines 26 and 27.

Line 29. Total net assets or fund balances. For foundations

that follow FASB ASC 958, enter the total of lines 24 and 25. For

all other foundations, enter the total of lines 26 through 28. Enter

the beginning-of-year figure in Part III, line 1. The end-of-year

figure in column (b) must agree with the figure in Part III, line 6.

Line 30. Total liabilities and net assets/fund balances.

Enter the total of lines 23 and 29. This amount must equal the

amount for total assets reported on line 16 for both the beginning

and end of the year.

Part III. Analysis of Changes in Net

Assets or Fund Balances

Generally, the excess of revenue over expenses, or vice versa,

accounts for the difference between the net assets at the

beginning and end of the year.

On Part III, line 2, re-enter the figure from Part I, line 27(a),

column (a).

On lines 3 and 5, list any changes in net assets that weren't

caused by the receipts or expenses shown in Part I, column (a).

For example, if a foundation follows FASB ASC 958 (formerly

“SFAS 115”) (ASC 320-10-35) and shows an asset in the ending

balance sheet at a higher value than in the beginning balance

sheet because of an increased market value (after a larger

decrease in a prior year), include the increase in Part III, line 3.

If the organization uses a stepped-up basis to determine

gains on sales of assets included in Part I, column (a), then

include the amount of step-up in basis in Part III. If you entered a

contribution, gift, or grant of property valued at fair market value

in Part I, line 25, column (a), the difference between fair market

value and book value should be shown in the books of account

and as a net asset adjustment in Part III.

22

Part IV. Capital Gains and Losses for

Tax on Investment Income

Use Part IV to figure the amount of net capital gain to report on

lines 7 and 8 of Part I.

Part IV doesn't apply to foreign organizations.

Nonoperating private foundations may not have to figure their

short-term capital gain or loss on line 3. See Nonoperating

private foundations, earlier.

Reportable gains and losses. Capital gains or losses include

gains or losses from the sale or other disposition of property that:

• Is used for a charitable purpose (for sales or other

dispositions in tax years beginning after August 17, 2006),

• Is held for investment, or

• Is used in the production of income. Don't include the gain or

loss that is included in figuring the foundation's unrelated

business taxable income.

However, don't include gains or losses for any portion of

property if:

• The property was used for 1 year or more in furthering the

foundation's exempt purpose or function; and

• Immediately following the use, is exchanged for property of

like kind that is to be used primarily in furthering the foundation's

exempt purpose or function. Rules similar to the rules of section

1031 relating to exchange of property held for productive use or

investment apply. See Gross investment income, earlier.

Capital gains and losses may arise from the deemed sale of

section 1256 contracts (marked to market).

Basis. The basis for determining gain from the sale or other

disposition of property is the larger of:

• The fair market value of the property on December 31, 1969,

plus or minus all adjustments after December 31, 1969, and

before the date of disposition, if the foundation held the property

on that date and continuously after that date until disposition; or

• The basis of the property on the date of disposition under

normal basis rules (actual basis). See sections 1011–1016.

To figure a loss, basis on the date of disposition is determined

under normal basis rules.

The rules that generally apply to property dispositions

reported in this part are:

• Section 1011, adjusted basis for determining gain or loss;

• Section 1012, basis of property-cost;

• Section 1014, basis of property acquired from a decedent;

• Section 1015, basis of property acquired by gifts and transfers

in trust; and

• Section 1016, adjustments to basis.

Tip: Section 1015 provides in most circumstances for a

carryover basis of property acquired by gift, that is, the basis in

the hands of the donor carries over to the foundation. Section

1014 generally provides for a stepped-up basis of property

acquired by bequest (other than an item of income in respect of

a decedent), that is, the fair market value of the property at the

decedent's death.

Losses. If the disposition of investment property results in a

loss, that loss may be subtracted from capital gains realized from

the disposition of property during the same tax year but only to

the extent of the gains. If losses are more than gains, the excess

may not be subtracted from gross investment income nor may

the losses be carried back or forward to other tax years.

Reporting Transactions in Part IV

Publicly traded securities. For sales of publicly traded

securities through a broker, enter the description “publicly traded

securities” on line 1, column (a). Leave columns (b), (c), and (d)

blank. Total the gross sales price, the cost or other basis, and the

Instructions for Form 990-PF (2025)

expense of sale on all such securities sold. Report these

lump-sum figures in columns (e) through (l), as appropriate. You

must maintain detailed records of each transaction in your books

and records.

Publicly traded securities are securities that are listed and

regularly traded on an over-the-counter market or an established

exchange in which market quotations are published or otherwise

readily available. Securities include:

• Common and preferred stock,

• Bonds (including governmental obligations), and

• Mutual fund shares.

Other gains and losses. For sales of anything other than

publicly traded securities sold, each transaction must be listed

and reported separately, completing all appropriate columns in

Part IV.

Part V. Excise Tax Based on

Investment Income (Section 4940(a),

4940(b), or 4948)

General Rules

Domestic exempt private foundations. These foundations

are subject to a 1.39% tax on net investment income under

section 4940(a). However, certain exempt operating foundations

described in section 4940(d)(2) may not owe any tax.

Exception. The section 4940 tax doesn't apply to an

organization making an election under section 41(e)(6)(D). Enter

“N/A” on line 1 in Part V.

Domestic taxable private foundations and section 4947(a)

(1) nonexempt charitable trusts. These organizations are

subject to a modified 1.39% tax on net investment income under

section 4940(b). However, they must first figure the tax under

section 4940(a) as if that tax applied to them.

Foreign organizations. Under section 4948, exempt foreign

private foundations are subject to a 4% tax on their gross

investment income derived from U.S. sources.

Caution: Under section 871(m), added by the Hiring Incentives

to Restore Employment Act (HIRE), a “dividend equivalent” is

treated as a dividend from U.S. sources for certain purposes,

including U.S. withholding tax rules applicable to foreign

organizations. See section 871(m) for more information.

Taxable foreign private foundations that filed Form 1040-NR,

U.S. Nonresident Alien Income Tax Return, or Form 1120-F, U.S.

Income Tax Return of a Foreign Corporation should not complete

Part V.

Estimated tax. Domestic exempt and taxable private

foundations and section 4947(a)(1) nonexempt charitable trusts

may have to make estimated tax payments for the excise tax

based on investment income. See O. Figuring and Paying

Estimated Tax, earlier, for more information.

Tax Computation

Caution: Line 1a only applies to domestic exempt operating

foundations described in section 4940(d)(2) that have a ruling or

determination letter from the IRS establishing exempt operating

foundation status. If your organization doesn't have this letter,

skip line 1a.

Line 1a. A domestic exempt private foundation that qualifies as

an exempt operating foundation under section 4940(d)(2) isn't

liable for any tax on net investment income on this return.

If your organization qualifies, check the box and enter the

date of the ruling or determination letter on line 1a and enter

“N/A” on line 1. Leave the rest of Part V blank. For the first year,

Instructions for Form 990-PF (2025)

the organization must attach a copy of the ruling or determination

letter establishing exempt operating foundation status. As long

as the organization retains this status, enter the date of the ruling

or determination letter in the space on line 1a. If the organization

no longer qualifies under section 4940(d)(2), leave the date line

blank and figure the section 4940 tax in the normal manner.

Qualification. To qualify as an exempt operating foundation

for a tax year, an organization must meet the following

requirements of section 4940(d)(2).

• It is an operating foundation described in section 4942(j)(3).

• It has been publicly supported for at least 10 tax years.

• Its governing body, at all times during the tax year, consists of

individuals, at least 75% of whom aren't disqualified individuals

(as defined in section 4940(d)(3)), and is broadly representative

of the general public.

• It has no officer who was a disqualified individual at any time

during the tax year.

Line 1b. Exempt foreign organizations shouldn't include net

capital gain income when figuring the excise tax due under

section 4948(a).

Line 2. Section 511 tax. Under section 4940(b), a domestic

section 4947(a)(1) nonexempt charitable trust or taxable private

foundation must add to the tax figured under section 4940(a) (on

line 1) the tax which would have been imposed under section

511 for the tax year if it had been exempt from tax under section

501(a). If the domestic section 4947(a)(1) nonexempt charitable

trust or taxable private foundation has unrelated business

taxable income that would have been subject to the tax imposed

by section 511, the computation of tax must be shown in an

attachment. Form 990-T may be used as the attachment. All

other filers, enter zero.

Line 4. Subtitle A (income) tax. Domestic section 4947(a)(1)

nonexempt charitable trusts and taxable private foundations,

enter the amount of subtitle A (income) tax for the year reported

on Form 1041 or Form 1120. All other filers, enter zero.

Line 5. Tax based on investment income. Subtract line 4

from line 3 and enter the difference (but not less than zero) on

line 5. Any overpayment entered on line 10 that is the result of a

negative amount shown on line 5 won't be refunded. Unless the

organization is a domestic section 4947(a)(1) nonexempt

charitable trust or taxable private foundation, the amount on

line 5 is the same as on line 1.

Line 6a. Enter the amount of 2025 estimated tax payments and

any 2024 overpayment of taxes that the organization specified

on its 2024 return to be credited toward payment of 2025

estimated taxes.

Caution: Line 6a applies only to domestic foundations.

Trust payments treated as beneficiary payments. A trust

may treat any part of estimated taxes it paid as taxes paid by the

beneficiary. If the filing organization was a beneficiary that

received the benefit of such a payment from a trust, include the

amount on line 6a of Part V and write, “Includes section 643(g)

payment.” See section 643(g) for more information about

estimated tax payments treated as paid by a beneficiary.

Line 6b. Exempt foreign foundations must enter the amount of

tax withheld at the source. Attach Form 1042-S, Foreign

Person's U.S. Source Income Subject to Withholding, or other

form that verifies the withheld tax reported on line 6b (Form

8288-A, Statement of Withholding on Certain Dispositions by

Foreign Persons, or Form 8805, Foreign Partner's Information

Statement of Section 1446 Withholding Tax).

Line 6d. Enter the amount of any backup withholding

erroneously withheld. Recipients of interest or dividend

payments must generally certify their correct taxpayer

identification number to the bank or other payer on Form W-9,

23

Request for Taxpayer Identification Number and Certification. If

the payer doesn't get this information, it must withhold part of the

payments as “backup withholding.” If the organization files Form

990-PF and was subject to erroneous backup withholding

because the payer didn't realize the payee was an exempt

organization and not subject to this withholding, the organization

can claim credit for the amount withheld.

Caution: Don't claim erroneous backup withholding on line 6d if

you claim it on Form 990-T.

Line 8. Addition to Tax. Enter any addition to tax for

underpayment of estimated tax shown on Form 2220.

Line 9. Tax due. Domestic foundations should see P. Tax

Payment Methods for Domestic Private Foundations, earlier.

Go to IRS.gov/Payments for more detailed information on

using any of the payment options below.

• IRS Direct Pay.

• Debit Card, Credit Card, or Digital Wallet.

• Electronic Funds Withdrawal.

• Electronic Federal Tax Payment System (EFTPS).

• Same-day wire.

To pay by check or money order. If you pay by check or

money order:

• Make it payable to “United States Treasury”;

• Make sure the name of the estate or trust appears on the

payment;

• Write the estate’s or trust’s EIN and “2025 Form 1041” on the

payment;

• Consider completing the 2025 Form 1041-V; and

• Enclose, but don’t attach, the payment (and Form 1041-V, if

completed) with Form 1041.

Note: The IRS can’t accept a single check (including a

cashier’s check) for amounts of $100,000,000 ($100 million) or

more. If you’re sending $100 million or more by check, you’ll

need to spread the payments over two or more checks with each

check made out for an amount less than $100 million. The $100

million or more amount limit doesn’t apply to other methods of

payment (such as electronic payments), so please consider

paying by means other than checks.

To pay by cash. You may be able to pay your balance due

with cash at a participating retail store. See IRS.gov/

PayYourTaxesWithCash.

Line 11. Refund. If there is a refund, complete and attach Form

8050, Direct Deposit of Tax Exempt or Government Entity Tax

Refund. All payments to the federal government are to be

processed electronically.

Amended return. If you are amending Part V, be sure to

combine any tax due that was paid with the original return (or

any overpayment credited or refunded) in the total for line 7. On

the dotted line to the left of the line 7 entry space, write “Tax Paid

w/ O.R.” and the amount paid. If you had an overpayment, write

“O.R. Overpayment” and the amount credited or refunded in

brackets.

If you file more than one amended return, attach a schedule

listing the tax due amounts that were paid and overpayment

amounts that were credited or refunded. Write “See Attachment”

on the dotted line and enter the net amount in the entry space for

line 7.

Part VI-A. Statements Regarding

Activities

Each question in this section must be answered “Yes,” “No,” or

“N/A”.

to influence the selection, nomination, election, or appointment

of any individual to any federal, state, or local public office or

office in a political organization, or the election of Presidential or

Vice Presidential electors, whether or not the individual or

electors are actually selected, nominated, elected, or appointed.

Line 3. A “conformed copy” of an organizational document is

one that agrees with the original document and all its

amendments. If copies aren't signed, attach a written declaration

signed by an officer authorized to sign for the organization,

certifying that they are complete and accurate copies of the

original documents.

Line 4a. See Pub. 598, Tax on Unrelated Business Income of

Exempt Organizations, for a description of unrelated business

income and Form 990-T filing requirements for foundations

having such income.

Line 6. For a private foundation to be exempt from income tax,

its governing instrument must include provisions that require it to

act or refrain from acting so as not to engage in an act of

self-dealing (section 4941) or subject the foundation to the taxes

imposed by sections 4942 (failure to distribute income), 4943

(excess business holdings), 4944 (investments that jeopardize

charitable purpose), and 4945 (taxable expenditures). A private

foundation may satisfy these section 508(e) requirements either

by express language in its governing instrument or by application

of state law that imposes the above requirements on the

foundation or treats these requirements as being contained in

the governing instrument. If an organization claims it satisfies the

requirements of section 508(e) by operation of state law, the

provisions of state law must effectively impose the section

508(e) requirements on the organization. See Rev. Rul. 2024-10,

2024-22 I.R.B. 1240.

However, if the state law doesn't apply to a governing

instrument that contains mandatory directions conflicting with

any of its requirements and the organization has such mandatory

directions in its governing instrument, then the organization

hasn't satisfied the requirements of section 508(e) by the

operation of that legislation.

Line 6 doesn't apply to foreign foundations described in

section 4948(b).

Line 8a. In the space provided, list all states:

1. To which the organization reports in any way about its

organization, assets, or activities; and

2. With which the organization has registered (or which it

has otherwise notified in any manner) that it intends to be, or is,

a charitable organization or that it is, or intends to be, a holder of

property devoted to a charitable purpose.

Attach a separate list if you need more space.

Line 8 doesn't apply to foreign foundations described in

section 4948(b).

Line 8b. If the organization hasn't furnished a copy of its Form

990-PF to the Attorney General (or the person designated) of

each state required to be listed in the response to line 8a, then

explain in an attached statement why not. If the Attorney General

(or the person designated) won't accept such filings, then so

state.

Line 9. If the organization claims status as a private operating

foundation for 2025 and, in fact, meets the private operating

foundation requirements for that year (as reflected in Part XIII),

any excess distributions carryover from 2024 or prior years may

not be carried over to 2025 or any year after 2025 even if it

doesn't meet the private operating foundation requirements. See

Part XII. Undistributed Income, later.

Line 1b. “Political purposes” include, but aren't limited to,

directly or indirectly accepting contributions or making payments

24

Instructions for Form 990-PF (2025)

Line 10. Substantial contributors. If you answer “Yes,” attach

a schedule listing the names and addresses of all persons who

became substantial contributors during the year.

The term “substantial contributor” means any person whose

contributions or bequests, during the current tax year and prior

tax years, total more than $5,000 and are more than 2% of the

total contributions and bequests received by the foundation from

its creation through the close of its tax year. An individual is

treated as making all contributions and bequests made by the

individual's spouse (section 507(d)(2)(B)(iii)). In the case of a

trust, the term “substantial contributor” also means the creator of

the trust (section 507(d)(2)(A)).

The term “person” includes individuals, trusts, estates,

partnerships, associations, corporations, and other exempt

organizations.

Each contribution or bequest must be valued at fair market

value on the date it was received.

Any person who is a substantial contributor on any date will

remain a substantial contributor for all later periods.

However, a person will cease to be a substantial contributor

with respect to any private foundation if:

1. The person, and all related persons, made no

contributions to the foundation during the 10-year period ending

with the close of the tax year;

2. The person, or any related person, was never the

foundation's manager during this 10-year period; and

3. The aggregate contributions made by the person, and

related persons, are determined by the IRS to be insignificant

compared to the aggregate amount of contributions to the

foundation by any other person and the appreciated value of

contributions held by the foundation.

The term “related person” includes any other person who

would be a disqualified person because of a relationship with the

substantial contributor (section 4946). When the substant

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