Private Foundations: Tax Law and Compliance, 4th Edition

Chapter TwelveTax Compliance and Administrative Issues

1. § 12.1 Successful Preparation of form 990-PF
   1. (a) Part I, Analysis of Revenue and Expenses
   2. (b) Line-by-Line Instructions
   3. (c) Expense Allocations
   4. (d) Part II, Balance Sheets
   5. (e) Part III, Analysis of Changes in Net Worth or Fund Balances
   6. (f) Part IV, Capital Gains and Losses for Tax on Investment Income
2. § 12.2 Reports Unique to Private Foundations
   1. (a) Part V, Qualification for Reduced Tax on Net Investment Income
   2. (b) Part VI, Excise Tax on Investment Income
   3. (c) Part VII-A, Statements Regarding Activities
   4. (d) Part VII-B, Statements Regarding Activities for Which Form 4720 May Be Required
   5. (e) Part VIII, Information about Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors
   6. (f) Part IX-A, Summary of Charitable Activities
   7. (g) Part IX-B, Summary of Program-Related Investments
   8. (h) Part X, Minimum Investment Return
   9. (i) Part XI, Distributable Amount
   10. (j) Part XII, Qualifying Distributions
   11. (k) Part XIII, Undistributed Income
   12. (l) Part XIV, Private Operating Foundations
   13. (m) Part XV, Supplementary Information
   14. (n) Part XVI-A, Analysis of Income-Producing Activity and Part XVI-B, Relationship of Activities
   15. (o) Part XVII, Information Regarding Transfers to and Transactions and Relationships with Noncharitable Exempt Organizations
3. § 12.3 Compliance Issues
   1. (a) Document Dissemination Rules
   2. (b) Where and When to File Form 990-PF
   3. (c) First-Year Issues
   4. (d) Reporting Violations and Other IRS Issues