Form 990 Filing Requirements
Exempt organizations must file some version of Form 990 with the IRS each year to comply with federal regulations. Public charities file Form 990. Private foundations file Form 990-PF (PF stands for Private Foundation). An exempt organization that has $1,000 or more of gross income from an unrelated business must file Form 990-T.
Form 990 and Form 990-PF
Forms 990 and 990-PF include the recipients’ names, locations, and grant amounts. Mail your return to the Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201-0027.
Form 990-PF Filing Details
Form 990-PF serves multiple purposes related to monitoring the activities and finances of private foundations. The IRS utilizes the information on this form to ensure compliance with the law and eligibility to maintain tax-exempt status. Private foundations file Form 990-PF regardless of income.
Form 990-PF Deadline and Requirements
The form is due to the IRS 4.5 months after the end of the foundation’s fiscal year.
Summary
In summary, Form 990-PF gives the IRS an overview of the organization’s activities, governance, and finances. Where Form 990-PF differs is there is no income filing threshold. Private foundations file a complete return regardless of income or losses.