What are the disclosure requirements from the IRS regarding Form 990-PF?

As a private foundation it is important that you abide by the rules, and specifically the rules implemented by the IRS. It is no secret that as a 501(c)(3) organization you must be held accountable by not only the government but also by the people. Under the private foundations tax provisions in 1969, private foundations were required to make Form 990 available to the public. This was normally through an ad in the newspaper. With the invention of the internet, that is no longer necessary. Through the foundation’s website this information can be easily accessible, thus meeting the IRS requirements. If your Form 990 is not accessible to the public, then you are required to send the information upon the individual’s request free of charge, although you are allowed to charge the individual for shipping costs.

Interested in more about tax regulations? Check out these resources!

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Audits, Accounting, and Completing the 990-PF Form

What questions should we ask our auditors? What are our fiduciary responsibilities as family foundation board members? What common mistakes do foundations make when completing the 990-PF? This Content Collection provides comprehensive but concise answers to these questions and many more.

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