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The IRS Form 990 is an information return that tax-exempt organizations with
incomes of more than $25,000 must file annually
with the Internal Revenue Service. The Form 990-PF
is a similar form designed specifically for completion
by private foundations.
The 990 and 990-PF forms are public documents
and therefore available for public inspection.
As these forms have become more widely available
through online services such as Guidestar. [link
- http://www.guidestar.org/], they have become
one of the most commonly used sources for data
about foundations and public charities. It is
therefore important for grantmakers to review
and, if necessary, improve their 990 reporting
practices to most clearly and accurately reflect
their activities.
ADDITIONAL RESOURCES:
| Foundations
That File IRS Form 990-PF |
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"Using
Your 990-PF to Communicate Effectively"
This article prepared by the Forum of
Regional Assocaitions of Grantmakers
details the steps that funders can take
to use the 990-PF or 990 to advance
transparency and communicate more effectively.
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PriceWaterhouseCoopers
Documents on 990-PF Preparation
The Forum of Regional Associations of Grantmakers,
a national coalition of regional associations
like DVG around the country, teamed up with
PriceWaterhouseCoopers to create two documentsfor
the foundation signer and tax preparer that
provide guidance for the clear and accurate
completion of the IRS Form 990-PF, with
tips for avoiding common mistakes and potentially
misleading entries.
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What
You Should Know Before Signing Your Organization’s
Form 990-PF 
A Guide for Foundation Officers is written
for the chairpersons of private foundations
and other top officers who are accountable
for the organization and sign the Form
990-PF, delineating the important safeguards
they should undertake before signing the
tax return.
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Ten
Common Errors to Avoid in Completing a
Private Foundation’s Form 990-PF
A Guide for Tax Preparers is directed
toward the actual tax preparers of the
990-PF, highlights those areas most commonly
completed incorrectly, and provides explanations
and directions for proper completion.
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IRS
Website - Common Errors Made by Exempt Organizations,
Filing Tips for 990-PFs
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Telling
Your Story on the 990-PF
Written by Amber Khan, executive director
of The Communications Network, and published
by the Association of Small Foundations,
this article offers four key tips to help
foundations better explain how charitable
activities advance both the mission and
vision of the organization.
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Interpreting
Form 990-PF: Looking Beyond Foundation Administrative
Expenses
This report from DVG’s colleague organization,
the Donors Forum of Chicago, demonstrates
that analyzing and comparing foundation
administrative expenses has severe limitations
and can often be misinterpreted.
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Public Charities That File IRS
Form 990 |
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“How
to Read the IRS Form 990 and Find Out What
it Means”
This informative article published by the
Nonprofit Coordinating Committee of New
York provides helpful information on how
to read and interpret the Form 990. Written
by Peter Swords, former Executive Director
of the Nonprofit Coordinating Committee
of New York, with the assistance of Victoria
Bjorklund of Simpson Thacher & Bartlett
and Jon Small, Executive Director of NPCC;
supported by a grant from the Ford Foundation.
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