Private Foundations

During its existence, a private foundation has numerous interactions with the IRS – from filing an application for recognition of tax-exempt status, to filing required annual information returns, to making changes in its mission and purpose. The IRS provides information, explanations, guides, forms, and publications on all of these subjects – they are available through this IRS Web site. The illustration below provides an easy-to-use way of linking to the documents most foundations will need as they proceed through the phases of their “life cycle.”

In addition to the following illustration, you can also download a graphical depiction of the life cycle, which includes functioning links back to our site.

• Types of Foundations
  • Private Operating Foundations
  • Exempt Operating Foundations
  • Grant-Making Foundations
• Organizing Documents
  • Required Provisions
  • Sample Organizing Documents
• Bylaws
  • Required Provisions
  • Annual Accounting Period
  • State Law Requirements
• Employer Identification Number
  • Application Form
  • Instructions
  • On-Line EIN Application
• Charitable Registration and Solicitation
  • Initial State Registration
  • Periodic State Reporting
  • State Charity Offices
• Help from the IRS

Applying to IRS

• Application Forms
  • Exemption Application
  • User Fee
  • Power of Attorney
  • Disclosure of Applications
• Help from the IRS
  • Application Process Step by Step
  • Customer Account Services
  • Publication 4220, Applying for 501(c)(3) Tax-Exempt Status
  • Publication 557, Tax-Exempt Status for Your Organization
• IRS Processing
  • While You Wait
  • Rulings and Determination Letters

Required Filings

• Annual Exempt Organization Return
  • Requirements for Filing
  • Power of Attorney
• Unrelated Business Income Tax
  • Requirements for filing
    • Form 990-T
    • Form 990-T instructions
    • Estimated tax
    • Form 990-W
  • Exceptions and Exclusions
  • Publication 598, Tax on Unrelated Business Income of Exempt Organizations
• Employment Taxes
  • Requirement to Pay
  • Exceptions and Exclusions
  • Worker Classification
  • Forms and Publications
• Help from the IRS
  • Customer Account Services
  • Publication 4221-PF, Compliance Guide for 501(c)(3) Private Foundations
  • Publication 557, Tax-Exempt Status for Your Organization

Ongoing Compliance

• Jeopardizing Exemption
  • Inurement/Private Benefit
  • Intermediate Sanctions
  • Lobbying/Political Activity
• Private Foundation Excise Taxes
  • Tax on Net Investment Income
  • Self-Dealing
  • Failure to Distribute Income
  • Excess Business Holdings
  • Jeopardizing Investments
  • Taxable Expenditures
• Substantiation and Disclosure of Charitable Contributions
  • Charitable Contributions
    • Publication 1771, Charitable Contributions – Substantiation and Disclosure Requirements
    • Written Acknowledgements
    • Quid Pro Quo Contributions
    • Charity Auctions
  • Noncash Contributions
    • Donor ( Form 8283)
    • Donee ( Form 8282)
    • Publication 561, Determining the Value of Donated Property
• Public Disclosure Requirements
• Retirement Plan Information for Exempt Organizations
• Help from the IRS
  • Customer Account Services
  • Publication 4221-PF, Compliance Guide for 501(c)(3) Private Foundations
  • Publication 557, Tax-Exempt Status for Your Organization

Significant Events

• Reporting Changes to IRS
• Private Letter Rulings and Determination Letters
• IRS Audits
  • Potential Examination Consequences
  • Examination Procedures
  • Power of Attorney
• Termination of Private Foundation
  • Private Foundation Termination Procedures
• Help from the IRS