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In Part II, Balance Sheets, a breakdown isnow required to show securities that are U.S.Government and state obligations, corporatestock, and corporate bonds.

Paperwork Reduction Act Notice.We askfor the information on this form to carry outthe Internal Revenue laws of the UnitedStates. You are required to give us thisinformation. We need it to ensure that you arecomplying with these laws and to allow us tofigure and collect the right amount of tax.

The time needed to complete and file thisform will vary depending on individualcircumstances. The estimated average timeis:

Purpose of Form.Form 990-PF is used byprivate foundations and by nonexempt4947(a)(1) charitable trusts that are treated asprivate foundations. These organizations usethis form to calculate the tax on netinvestment income and to report charitabledistributions and activities. The form alsoserves as a substitute for the nonexemptsection 4947(a)(1) charitable trust's incometax return, Form 1041, U.S. Fiduciary IncomeTax Return, when the trust has no taxableincome.

A. Who Must File Form 990-PF.

Form 990-PF, an annual information return,must be filed by:

Instructions for Form 990-PFReturn of Private Foundation or Section 4947(a)(1)Charitable Trust Treated as a Private Foundation(Section references are to the Internal Revenue Code unless otherwise noted.)

General Instructions

Changes You Should Note

Recordkeeping . . . . 150 hrs., 11 min.Learning about thelaw or the form . . . . 27 hrs., 11 min.

Preparing the form . . . 31 hrs., 46 min.

Copying, assembling, andsending the form to IRS . . . . 16 min.

If you have comments concerning theaccuracy of these time estimates orsuggestions for making this form more simple,we would be happy to hear from you. You canwrite to both the Internal Revenue Service,Washington, DC 20224; Attention: IRSReports Clearance Officer, T:FP, and theOffice of Management and Budget,Paperwork Reduction Project (1545-0052),Washington, DC 20503. DO NOT send thetax form to either of these offices. Instead,see General Instruction J for information onwhere to file it.

Contents Page

A. Who Must File Form 990-PF

Applicability of Parts ofForm 990-PF to Certain Filers

Definitions

Other Forms You May Need to File

Publications and Other Forms

Use of Form 990-PF To SatisfyState Reporting Requirements

Furnishing Copies of the AnnualReturn to State Officials

Accounting Period

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Accounting Methods

When and Where to File

Extension of Time to File

Amended Return

Penalty for Failure To File Timely,Completely, or Correctly

Penalty for Not Paying Tax on Time

Figuring and Paying Estimated Taxeson Net Investment Income

Depositary Method of Tax Paymentfor Domestic Private Foundations

Public Inspection of Form 990-PFand Approved Exemption Applications

Disclosures Regarding CertainInformation and Services Furnished

Organizations Organized orCreated in a Foreign Country orU.S. Possession

Liquidation, Dissolution, Termination,or Substantial Contraction

Filing Requirements DuringSection 507(b)(1)(B) Termination

Special Rules for Section507(b)(1)(B) Terminations

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Contents Page

Specific Instructions

Part IAnalysis of Revenue and Expenses

Part IIBalance Sheets

Part IIIAnalysis of Changes inNet Assets or Fund Balances

Part IVCapital Gains and Lossesfor Tax on Investment Income

Part VQualification Under Section4940(e) for Reduced Tax onNet Investment Income

Part VIExcise Tax on InvestmentIncome

Part VIIStatements Regarding Activities

Part VIllInformation About Officers,Directors, Trustees, etc

Part IXMinimum Investment Return

Part XDistributable Amount

Part XILimitation on GrantAdministrative Expenses

Part XIISchedule of GrantAdministrative Expenses

Part XlIIQualifying Distributions

Part XIVUndistributed Income

Part XVPrivate Operating Foundations

Part XVISupplementary Information

Part XVII-ASummary of GrantPrograms and Other Activities

Part XVII-BSupporting Data

Part XVIII-AAnalysis of IncomeProducing Activities

Part XVIII-BRelationship of Activities tothe Accomplishment of Exempt Purposes

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Contents Page

General Instructions

Part XIXlnformation RegardingTransfers To and Transactions andRelationships With NoncharitableExempt Organizations 20

Part XXPublic Inspection 21. . . . .

Exclusion Codes

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1. Exempt private foundations (section6033(a), (b), and (c)).2. Taxable private foundations (section6033(d)). (See instruction D8.)

3. Organizations that agree to privatefoundation status and whose applications forexempt status are pending on the due date forfiling Form 990-PF.

4. Organizations that made an election undersection 41(e)(6).

5. Organizations that are making a section507 termination.

6. Section 4947(a)(1) nonexempt charitabletrusts that are treated as private foundations(section 6033(d)). (See instruction D5.)

Note: Section 4947(a)(1) nonexempt

charitable trusts that are not treated as privatefoundations, do not file Form 990-PF.However, they may need to fileForm 990,Return of Organization Exempt From IncomeTax, or Form990EZ, Short Form Return ofOrganization Exempt From Income Tax. Witheither of these forms, the trust must also fileSchedule A (Form 990), Organization ExemptUnder 501(c)(3) (except Private Foundation),501(e), 501(f), 501(k), or Section 4947(a)(1)Charitable Trust Supplementary Information.(See Form 990 or Form 990EZ instructions.)

B. Applicability of Parts of Form 990-PFto Certain Filers.

Note: The parts of the form listed below donot apply to all filers. If an entire part, or a

major portion of a part, does not apply, enterN/A where appropriate.

Part I, column (c), applies only to privateoperating foundations and to nonoperatingprivate foundations that have income fromcharitable activities.

Part II, column (c), with the exception ofline 16, applies only to organizations having atleast $5,000 in assets at some time during theyear. Line 16, column (c), applies to all filers.

Part IV does not apply to foreignorganizations.

Parts V and VI do not apply toorganizations making an election undersection 41(e).

Department of the TreasuryInternal Revenue Service

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Part X does not apply to private operatingfoundations.

foundation owes any penalty forunderpayment of estimated tax. Thefoundation must complete and attach Form2220 even if it does not owe the penalty if: (a)the annualized income installment methodand/or the adjusted seasonal installmentmethod is used or (b) the foundation is alarge organization, computing its firstrequired installment based on the prior year'stax.

Part XV applies only to private operatingfoundations.

Part XVI applies only to organizationshaving assets of $5,000 or more during theyear. This Part does not apply to certainforeign organizations.

C. Definitions.

(1) A private foundationis a domestic orforeign organization exempt from income tax

under section 501(a); described in section501(c)(3); and is other than an organizationdescribed in sections 509(a)(1) through (4).

In general, churches, hospitals, schools,and broadly publicly supported organizationsare excluded from private foundation statusby these sections. These organizations maybe required to file Form 990 (or Form 990EZ)instead of Form 990-PF.

(2) A nonexempt charitabletrust treated asa private foundation is a trust that is notexempt from tax under section 501(a) and allof the unexpired interests of which aredevoted to religious, charitable, or otherpurposes described in section 170(c)(2)(B),and for which a deduction was allowed undera section of the Code listed in section

4947(a)(1).

(3) A taxable foundationis no longerexempt under section 501(a) as anorganization described in section 501(c)(3).Though it may operate as a taxable entity, itwill continue to be treated as a privatefoundation until its status as such isterminated under section 507.

(4) (a)A foundation manageris an officer,director, or trustee of a foundation, or anindividual who has powers similar to those ofofficers, directors, or trustees. In the case ofany act or failure to act, the term foundationmanager may also include employees of thefoundation who have the authority to act.

(b) A disqualified personis:

(1) a substantial contributor (see page14);

(2) a foundation manager;

(3) a person who owns more than 20%of a corporation, partnership, trust, orunincorporated enterprise which is itself asubstantial contributor;

(4) a member of the family of anindividual in the first three categories; or

(5) a corporation, partnership, trust, orestate in which persons described In (1),(2), (3), or (4) above own a total beneficialinterest of more than 35%.

(6) For purposes of section 4941(self-dealing), a disqualified person also

includes certain government officials. (Seesection 4946(c) and the relatedregulations.)

(7) For purposes of section 4943(excess business holdings), a disqualifiedperson also includes:

a private foundation which iseffectively controlled (directly orindirectly) by the same persons whocontrol the private foundation inquestion, or

a private foundation to whichsubstantially all of the contributionswere made (directly or indirectly) byone or more of the persons describedin (1), (2), and (3) above, or members

(a)

(b)

of their families, within the meaning ofsection 4946(d).

(5) An organization is controlled by afoundation or by one or more disqualifiedpersons with respect to the foundation if anyof these persons may, by combining theirvotes or positions of authority, require theorganization to make an expenditure orprevent the organization from making anexpenditure, regardless of the method ofcontrol. "Control" is determined without regardto the conditions imposed by a foundation on

the manner in which the contribution must beused.

(6) Charitable and exempt aresynonymous terms in these instructions whenthey relate to a tax-exempt private foundation.

D. Other Forms You May Need to File.

1. Forms W-2 and W-3.Wage and TaxStatement, and Transmittal of Income andTax Statements.

2. Form W-2P.Statement for Recipients ofAnnuities, Pensions, Retired Pay, or IRAPayments.

3. Form 941.Employer's Quarterly FederalTax Return. Used to report social security andincome taxes withheld by an employer and

social security tax paid by an employer.4. Form 990-T.Exempt OrganizationBusiness Income Tax Return. Everyorganization exempt from income tax undersection 501(c)(3) that has total gross incomeof $1,000 or more from all trades orbusinesses that are unrelated to the purposeon which the organization's exempt status isbased must file a return on Form 990-T.

5. Form 1041.U.S. Fiduciary Income TaxReturn. Required of section 4947(a)(1)charitable trusts that also file Form 990-PF.However, if the trust does not have anytaxable income under subtitle A of the Code, itmay use the filing of Form 990-PF to satisfyits Form 1041 filing requirement under section6012. If this condition is met, check the box

for question 19, Part VII, of Form 990-PF anddo not file Form 1041, but complete Form990-PF in the normal manner.

6. Form 1096.Annual Summary andTransmittal of U.S. Information Returns.

7. Forms 1099-INT, MISC, OID, and R.Information returns for reporting certaininterest; miscellaneous income, medical andhealth care payments, and nonemployeecompensation; original issue discount; andtotal distributions from profit-sharing andretirement plans.

8. Form 1120.U.S. Corporation Income TaxReturn. Filed by nonexempt taxable privatefoundations that have taxable income undersubtitle A of the Code. The Form 990-PF

annual information return is also filed by thesetaxable foundations.

9. Form 1120-POLU.S. Income Tax Returnfor Certain Political Organizations. Section501(c) organizations must file Form1120-POL if their political expenditures andtheir net investment income both exceed $100for the year.

10. Form 1128.Application to Adopt,Change or Retain A Tax Year.

11. Form 2758.Application for Extension ofTime To File Certain Excise, Income,Information, and Other Returns.

12. Form 2220.Underpayment of EstimatedTax by Corporations. Used to determine if the

13. Form 4720.Return of Certain ExciseTaxes on Charities and Other Persons Under

Chapters 41 and 42 of the Internal RevenueCode. Primarily used to determine the excisetaxes imposed on: acts of self-dealingbetween private foundations and disqualifiedpersons; failure to distribute income; excessbusiness holdings; investments that

jeopardize the foundation's charitablepurposes; and making political or other,noncharitable expenditures. Certain excisetaxes and penalties also apply to foundationmanagers, substantial contributors, andcertain related persons and are reported onthis form.

14. Form 5500 or 5500-C/R.Employerswho maintain pension, profit-sharing, or otherfunded deferred compensation plans aregenerally required to file one of the 5500

series of forms specified in the followingparagraph. This requirement applies whetheror not the plan is qualified under the InternalRevenue Code and whether or not thededuction is claimed for the current tax year.

The forms required to be filed are:

Form 5500, Annual Return/Report ofEmployee Benefit Plan. Used for each planwith 100 or more participants.

Form 5500-C/R, Return/Report of EmployeeBenefit Plan. Used for each plan with fewerthan 100 participants.

15. Form 8282.Donee Information Return.Required of the donee of charitablededuction property who sells, exchanges, orotherwise disposes of the property within two

years after the date it received the property.Also required of any successor donee who

disposes of charitable deduction propertywithin two years after the date that the donorgave the property to the original donee. (Itdoes not matter who gave the property to thesuccessor donee. It may have been theoriginal donee or another successor donee.)For successor donees, the form must be filedonly for any property that was transferred bythe original donee after July 5, 1988.

16. Form 8300.Report of Cash PaymentsOver $10,000 Received in a Trade orBusiness. Used to report cash amounts inexcess of $10,000 that were received in asingle transaction (or in two or more related

transactions) in the course of a trade orbusiness (as defined in section 162).

17. Form 8718.User Fee for ExemptOrganization Determination Letter Request.Used by a private foundation that hascompleted a section 507 termination andseeks a determination letter that it is now apublic charity.

E. Publications and Other Forms.

Publication 525.Taxable and NontaxableIncome.

Publication 578.Tax Information for PrivateFoundations and Foundation Managers.

Publication 583.Taxpayers Starting aBusiness.

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the return for a short period (less than 12months) ending November 30, 1991 or earlier.

K. Extension of Time To File.A foundation

may file Form 2758 to request an extension oftime to file its return.

L. Amended Return.To change your returnfor a prior year, write Amended Returnat thetop of the return. Generally, you must file theamended return within three years after thedate the original return was due or three yearsafter the date the organization filed it,whichever is later. Use Form 4506-A to obtaina copy of a previously filed return. You canobtain blank forms for prior years by callingthe toll-free number given in instruction E.

Publication 598.Tax on UnrelatedBusiness Income of Exempt Organizations.

Publication 910.Guide to Free TaxServices.

Publication 1391.Deductibility of PaymentsMade to Charities Conducting Fund-RaisingEvents.

Form 990-W.Estimated Tax on UnrelatedBusiness Taxable Income for Tax-ExemptOrganizations.

Form 1041-ES.Estimated Income Tax forFiduciaries.

Form 4506-A.Request for Public Inspectionor Copy of Exempt Organization Tax form.

Form 8109.Federal Tax Deposit Coupon.

Form 8822.Change of Address.

These publications and forms are availableat no charge through IRS offices, or by calling1-800-TAX-FORM (1-800-829-3676).

F. Use of Form 990-PF To Satisfy StateReporting Requirements.Some states andlocal government units will accept .a copy ofForm 990-PF and required attachments inplace of all or part of their own financial reportforms.

If you intend to use Form 990-PF to satisfystate or local filing requirements, such as

those arising under state charitablesolicitation acts, note the following:

Determine state filing requirements.-Youshould consult the appropriate officials of allstates and other jurisdictions in which you dobusiness to determine their specific filingrequirements. "Doing business" in a

jurisdiction may include any of the following:(a) soliciting contributions or grants by mail orotherwise from individuals, businesses, orother charitable organizations, (b) conductingprograms; (c) having employees within that

jurisdiction; or (d) maintaining a checkingaccount or owning or renting property therein.

Monetary tests may differ.Some or all of thedollar limitations applicable to Form 990-PFwhen filed with IRS may not apply when using

Form 990-PF in place of state or local reportforms. IRS dollar limitations that may not meetsome state requirements are the $5,000 totalassets minimum that necessitates completionof Part II, column (c), and Part XVI; the$30,000 minimum for listing the highest paidemployees and for listing professional fees inPart VIII.

Additional information may be required.State and local filing requirements mayrequire you to attach to Form 990-PF one ormore of the following: (a) additional financialstatements, such as a complete analysis offunctional expenses or a statement ofchanges in financial position; (b) notes tofinancial statements; (c) additional financialschedules; (d) a report on the financialstatements by an independent accountant;and (e) answers to additional questions andother information. Each jurisdiction mayrequire the additional material to be presentedon forms they provide. The additionalinformation does not have to be submittedwith the Form 990-PF filed with IRS.

Even if the Form 990-PF you file with IRSis accepted by IRS as complete, a copy of thesame return filed with a state will not fullysatisfy that state's filing requirement ifrequired information is not provided, includingany of the additional information discussedabove, or if the state determines that the formwas not completed according to theapplicable Form 990-PF instructions or

supplemental state instructions. In that event,you may be asked to provide the missinginformation or to submit an amended return.

Amended returns.If you submitsupplemental information or file an amendedForm 990-PF with IRS, you must also furnisha copy of the information or amended returnto any state with which you filed a copy ofForm 990-PF originally to meet that state'sfiling requirement.

Method of accounting:Many states requirethat all amounts be reported based on the

accrual method of accounting.Time for filing may differ.The time for filingForm 990-PF with IRS differs from the time forfiling reports with some states.

State registration numbers.Insert theapplicable state or local jurisdictionregistration or identification number in box B(in the heading on page 1) for each

jurisdiction in which you file Form 990-PF inplace of the state or local form. When filing inseveral jurisdictions, prepare as many copiesas needed with the state registration numberomitted. Then enter the applicable registrationnumber on the copy to be filed with each

jurisdiction.

G. Furnishing Copies of the Annual Returnto State Officials.The foundationmanagers must furnish a copy of the annualForm 990-PF to the attorney general (or his orher designate) of (a) each state which theyare required to list in Part VII, line 8a, (b) thestate in which the principal office of thefoundation is located, and (c) the state inwhich the foundation was incorporated orcreated: The return must be furnished at thesame time it is sent to the IRS. Thefoundation managers must also provide acopy of the annual return to the attorneygeneral or other appropriate state official ofany other state who requests it. Thefoundation managers must also attach to allcopies of the annual return filed with anattorney general a copy of any Form 4720filed by the foundation with the IRS for theyear. These provisions do not apply to anyforeign foundation which, from the date of itscreation, has received at least 85% of itssupport (excluding gross investment income)from sources outside the United States. (See"Exceptions" in General Instruction Q.)

If the foundation managers submit a copyof Form 990-PF (and Form 4720, if any) to astate attorney general to satisfy a statereporting requirement, they do not have tofurnish a second copy to that attorney generalto comply with the Internal Revenue Coderequirements covered by this instruction. Ifthere is a state reporting requirement that thecopy of Form 990-PF be filed with a stateofficial other than the attorney general (such

as a secretary of state), then the foundationmanagers must also furnish a copy of theForm 990-PF to the attorney general of thatstate.

H. Accounting Period.

(1) File the 1990 return for the calendaryear 1990 and fiscal years beginning in 1990.If the return is for a fiscal year, fill in the taxyear space at the top of the return.

(2) The return must be filed, on the basis ofthe established annual accounting period ofthe organization. If the organization has noestablished accounting period, the returnshould be on the calendar-year basis.

(3) In the case of a change in accountingperiod, the 1990 form may also be used as

In general, to change your accountingperiod you must file timely a Form 990-PF forthe short period resulting from the change. Atthe top of this short period return, indicate thata change of accounting period is being madeby writing, Change of Accounting Period.

If you changed your accounting periodwithin the 10-calendar-year period thatincludes the beginning of the short period,and you had a Form 990-PF filing requirement

at any time during that 10-year period, youmust also attach a Form 1128 to the shortperiod return. See Rev. Proc. 85-58, 1985-2C.B. 740.

I. Accounting Methods.UnIess theinstructions specify otherwise; report thefinancial information requested on the basis ofthe accounting method the foundationregularly uses in keeping its books andrecords.Note: Complete Part I, column (d) on thecash receipts and disbursements method ofaccounting.

J. When and Where To File.This returnmust be filed by the 15th day of the 5th monthfollowing the close of the accounting period.

In case of a complete liquidation,dissolution, or termination, file the return bythe 15th day of the 5th month followingcomplete liquidation, dissolution ortermination,

M. Penalty for Failure To File Timely,Completely, or Correctly.Against theorganization.If an organization falls to filetimely, completely, or to furnish the correct

Use the followingInternal Revenue Service

Center address

Alabama, Arkansas, Florida,Georgia, Louisiana, Mississippi,North Carolina, South Carolina,Tennessee

Arizona, Colorado, Kansas,New Mexico, Oklahoma,Texas, Utah, Wyoming

Indiana, Kentucky, Michigan,Ohio, West Virginia

Alaska, California, Hawaii,Idaho, Nevada, Oregon,Washington

Connecticut, Maine,Massachusetts, NewHampshire, New York,Rhode Island, Vermont

Illinois, Iowa, Minnesota,Missouri, Montana,Nebraska, North Dakota,South Dakota, Wisconsin

Delaware, District of Columbia,Maryland, New Jersey,Pennsylvania, Virginia, anyU.S. possession, or foreigncountry

Atlanta, GA 39901

Austin, TX 73301

Cincinnati, OH 45999

Fresno, CA 93888

Holtsville, NY 00501

Kansas City, MO 64999

Philadelphia, PA 19255

If the principal office ofthe organization is

located in

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information, it will have to pay $10 for eachday during which such failure continues,unless it can be shown that the failure wasdue to reasonable cause. The maximumpenalty with respect to any one return shallnot exceed the lesser of $5,000 or 5% of thegross receipts of the organization for the year.

P. Depositary Method of Tax Payment forDomestic Private Foundations.Thefoundation must pay the tax due in full whenthe return is filed, but no later than 4 monthsafter the end of the tax year.

Q. Public Inspection of Form 990-PFand Approved ExemptionApplications.

Against the responsible person.The IRS willmake written demand that the delinquentreturn be filed or the information furnishedwithin a reasonable time after notice ofmailing of the demand. The person failing to

comply with the demand on or before the datespecified in the demand will have to pay $10for each day the failure continues, unlessthere is reasonable cause. The maximumpenalty imposed on all persons for failureswith respect to any one return shall notexceed $5,000. If more than one person isliable for any failures, all such persons are

jointly and severally liable with respect to suchfailures (see section 6652(c)).

To avoid filing an incomplete return orhaving to respond to requests for missinginformation, please be sure to complete allapplicable line Items; to answer Yes,No, or N/A (not applicable) to eachquestion on the return; to make an entry(including a -0- when appropriate) on all

total lines; and to enter None or N/A ifan entire part does not apply.

Since this return also satisfies the filingrequirements of a tax return under section6011 for the tax on investment incomeimposed by section 4940 (or 4948 if anexempt foreign organization), the penaltiesimposed by section 6651 for not filing a return(without reasonable cause) also apply.

There are also penalties for willful failure tofile and for filing fraudulent returns andstatements. See sections 7203, 7206, and7207.

N. Penalty for Not Paying Tax on Time.There is a penalty for not paying tax whendue (section 6651). The penalty generally is

1/2 of 1% of the unpaid tax for each month orpart of a month the tax remains unpaid, not toexceed 25% of the unpaid tax. If there wasreasonable cause for not paying the tax ontime, the penalty can be waived. However,interest is charged on any tax not paid ontime, at the rate provided by section 6621.

The section 6655 penalties for failure topay estimated taxes apply to the taxes on netinvestment income of domestic privatefoundations and section 4947(a)(1) charitabletrusts. The penalties also apply to any tax onunrelated business income of theseorganizations.

O. Figuring and Paying Estimated Taxeson Net Investment Income.A privatefoundation must make estimated taxpayments of the excise tax on investmentincome if it can expect its estimated tax(section 4940 tax minus allowable credits) tobe $500 or more. The number of installmentpayments you must make under thedepositary method is determined at the timeduring the year that you first meet thisrequirement. For calendar-year taxpayers, thefirst deposit of estimated taxes for a yearshould generally be made by April 15 of theyear.

Although Form 990-W is used primarily tocompute the installment payments ofunrelated business income tax, it may also beused to determine the timing and amounts of

To begin your calculation of the estimatedtax, multiply the estimated investment incomeby the tax rate (1% or 2%. whichever isapplicable) and enter that amount on line 11of Form 990-W.

The Form 990-W line items andinstructions pertaining to large organizationsalso apply to private foundations. Forpurposes of paying the estimated tax on netinvestment income, a large organization is

one that had net investment income of $1million or more for any of the three tax yearsimmediately preceding the tax year involved.

A foundation that fails to pay the properestimated tax when due may be subject to anunderpayment penalty for the period of theunderpayment. Generally, a foundation issubject to the penalty if its tax liability is $500or more and it did not pay on time the lesserof: (a) 90% of the total tax liability for the year,or (b) 100% of the tax liability shown on thefoundation's Form 990-PF for the prior year.However, a foundation that is considered alarge organization may base only its firstrequired installment on 100% of the prioryear's tax liability.

Compute separately any required deposits

of section 4940 tax and unrelated businessincome tax. (See sections 6655(b) and (d)and Form 2220 instructions.)

Exceptions.A private foundation that hasterminated its status as such under section507(b)(1)(A), by distributing all its net assetsto one or more public charities withoutretaining any right, title, or interest in thoseassets, does not have to publish notice ofavailability of its annual return or furnish thereturn to the public for the tax year in which

Deposit foundation net investment incometax payments (estimated tax payments andbalance of tax due as shown on line 9, PartVI) with a Federal Tax Deposit Coupon (Form8109). Be sure to darken the 990-PF box onForm 8109. Make these tax deposits witheither a financial institution qualified as adepositary for Federal taxes or the FederalReserve bank or branch servicing thegeographic area where the foundation islocated. Do not submit deposits directly to anIRS office; otherwise, the foundation may besubject to a failure-to-deposit penalty.Records of deposits will be sent to IRS forcrediting to the foundation's account. See theinstructions contained in the coupon book(Form 8109) for more information. Form

990-W explains how to obtain these couponbooks.

To ensure more accurate processing ofyour deposits, please write your employeridentification number, type of tax paid, and thetax period to which the deposit applies onyour check.

For more information concerning deposits,see Pub. 583.Note:Foreign organizations should refer toinstructions for Part VI, line 9.

Through the organization.

Information reported on or with Form990-PF, including all attachments, will bemade available for public inspection undersection 6104(b). This applies both toinformation required by the form and toinformation furnished voluntarily. Therefore,the return and any attachments should be ofsuch quality that they can be reproducedphotographically.

(1) Annual returns.Foundation managersmust make the annual return available forinspection during regular business hours at

the principal office of the foundation, or mayfurnish a free copy to any person requestinginspection, provided the request is made atthe time and in the manner prescribed insection 6104(d) and the related regulations.

Notice requirements.A notice that theprivate foundation's annual return is availablefor inspection must be published by the duedate for filing the annual return, including anyextensions of time for filing. The notice mustbe published in a newspaper with generalcirculation in the county in which the principaloffice of the private foundation is located. (Anewspaper or journal that publishes realestate title transfers or other similar legalnotices to satisfy state statutory requirementsis also considered to have general

circulation.) The notice must state that theannual return of the private foundation isavailable for inspection at its principal officeduring regular business hours by any citizenwho requests inspection within 180 days afterthe date the notice is published. It must alsoshow the address and telephone number ofthe private foundation's principal office andthe name of its principal manager. A privatefoundation may designate, in addition to itsprincipal office, any other location at which itsannual return will be made available. Anotherlocation may also be designated if thefoundation has no principal office or noneother than the residence of a substantialcontributor or foundation manager.

To ensure that the return is available for

public inspection for the full 180-day period asrequired by law, do not publish the notice untilthe return has been completed and, in fact, isreadily available for inspection upon request.

Attach a copy of the notice to the Form990-PF filed annually with the InternalRevenue Service.

Penalties.If a foundation does not publishthe notice and attach a copy of it to a timelyfiled return, there is a penalty of $10 a day, upto a maximum of $5,000 for any one return(section 6652(c)). The penalty is imposed onthe person under a duty to act, but who failsto do so without reasonable cause. Thepenalty is also imposed on any person whofails to make the return (including all requiredattachments) available for public inspectionaccording to the section 6104(d) provisionsdiscussed above. If more than one person isresponsible for either failure to act, eachperson is jointly and severally liable for the fullamount of the penalty. Any person whowillfully fails to comply shall be subject to anadditional penalty of $1,000 (section 6685).

Note: Section 4947(a)(1) charitable trusts andtaxable foundations that have income subjectto tax under section 1 or section 11 shouldsee Form 1120 for the estimated tax rules.However, for paying any estimated tax on thatincome, section 4947(a)(1) charitable trustsshould use Form 1041-ES. Taxablefoundations should use Form 8109, anddarken the 1120 box on that form.

installment payments of the section 4940 taxon net investment income.

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S. Organizations Organized or Created in aForeign Country or U.S. Possession.

The notice and public inspection provisionsdiscussed above do not apply to any foreignfoundation which, from the date of its creation,has received at least 85% of its support(excluding gross investment income) fromsources outside the United States. Therequirement to furnish copies of annualreturns to state officials also does not apply tosuch foreign foundations (see GeneralInstruction G).

Any person who does not comply with thepublic inspection of application requirementshall be assessed a penalty of $10 for eachday that inspection was not permitted. Thereis no limitation. No penalty will be imposed ifthe failure is due to reasonable cause. If morethan one person is responsible for failure tocomply with this requirement, each person is

jointly and severally liable for the full amountof the penalty. Any person who willfully fails tocomply shall be subject to an additionalpenalty of $1,000.

Any organization that intentionallydisregards this requirement will be subject toa penalty for each day on which the offers orsolicitations are made. The penalty imposedfor a particular day is the greater of $1,000 or50% of the total cost of the offers andsolicitations made on that day which lackedthe required disclosure.

(1) Regulations section 53.4948-1(b)provides that sections 507, 508, and Chapter

42 (other than section 4948) do not apply to aforeign private foundation which from the dateof its creation has received at least 85% of itssupport (as defined in section 509(d)otherthan section 509(d)(4)) from sources outsidethe United States.

is less than 25% of the fair market value ofthe net assets of the organization at thebeginning of the tax year (in the case of (1)above) or at the beginning of the tax year inwhich any of the series of related dispositionswas made (in the case of (2) above).

Whether a significant disposition hasoccurred through a series of relateddispositions will be determined from all thefacts and circumstances of the particularcase. Ordinarily, a distribution described insection 1.70(b)(1)(E)(ii) (relating to privatefoundations making qualifying distributions outof corpus equal to 100% of contributionsreceived during the foundation's tax year)

R. Disclosures Regarding CertainInformation and Services Furnished.Asection 501(c) organization that offers to sellor solicits money for specific information or aroutine service for any individual that could beobtained by such individual from a FederalGovernment agency free or for a nominalcharge must disclose that fact conspicuouslywhen making such offer or solicitation.

Through the IRS.

(2) Exemption applications.Any section501(c) organization that submitted anapplication for recognition of exemption to theInternal Revenue Service after July 15, 1987,must make available for public inspection acopy of Its application (together with a copy ofany papers submitted in support of itsapplication) and any letter or other documentissued by the IRS in response to theapplication. An organization that submitted itsexemption application on or before July 15,1987, must also comply with this requirementif it had a copy of its application on July 15,1987. The copy of the application and relateddocuments must be made available forinspection during regular business hours atthe organization's principal office and at each

of its regional or district offices having at leastthree employees.

will not be taken into account as a significantdisposition of assets. See Regulations section1.170A-9(g)(2).

Both exempt organization returns andapproved exemption applications may beinspected by the public at IRS district officesand at the IRS National Office inWashington, DC.

A request for inspection must be in writingand must include the name and address (cityand state) of the organization that filed thereturn or application. A request to inspect areturn should indicate the type (number) ofthe return and the year(s) involved. Therequest should be sent to the District Director(Attention: Disclosure Officer) of the district inwhich the requester desires to inspect thereturn or application. If inspection at the IRSNational Office is desired, the request shouldbe sent to the Commissioner of InternalRevenue, Attention: Freedom of Information

Reading Room, 1111 Constitution Avenue,N.W., Washington, DC 20224.

Form 4506-A can be used to request acopy or to inspect an exempt organizationreturn at an IRS office. There is a charge forphotocopying.

(2) Section 4948(a) imposes a 4% tax onthe gross investment income (i.e., incomefrom dividends, interest, rents, paymentsreceived on securities loans (as defined insection 512(a)(5)), and royalties not reportedon Form 990-T, of an exempt foreign privatefoundation from U.S. sources. This tax is inlieu of the section 4940 tax on the netinvestment income of a domestic privatefoundation. To pay any tax due, seeinstructions for Part VI, line 9.

(3) Taxable foreign private foundationsand foreign section 4947(a)(1) charitabletrusts are not subject to the excise taxesunder sections 4948(a) and 4940, but aretaxed under subtitle A of the Code.

(4) Certain foreign foundations are notrequired to furnish copies of annual returns tostate officials, nor must they comply with thepublic inspection and notice requirements ofannual returns. (See General Instructions Gand Q.)

T. Liquidation, Dissolution, Termination, orSubstantial Contraction.

Organizations liquidating, etc., must attach astatement to the return explaining the natureof any liquidation, dissolution, termination, orsubstantial contraction. See GeneralInstruction J for filing dates and locations.

The term substantial contractionincludesany partial liquidation or any other significantdisposition of assets (other than transfers forfull and adequate consideration ordistributions of current income).

A significant disposition of assetsdoes notinclude any disposition for a tax year if thetotal of the:

dispositions for the tax year, and

related dispositions made during prior taxyears (if a disposition is part of a series ofrelated dispositions made during theseprior tax years)

(1)

(2)

In the case of a complete liquidation of acorporation or termination of a trust, statewhether a final distribution of assets wasmade and the date made. Also attach acertified copy of the resolution or plan, if any,of liquidation, etc., and all amendments orsupplements not previously filed, as well as aschedule listing the names and addresses ofall recipients of assets distributed inliquidation, dissolution, or substantialcontraction, and an explanation of the natureand fair market value of assets distributed toeach recipient.

Organizations that have terminated theirprivate foundation status under section507(b)(1)(A) are excepted from the notice andpublic inspection requirements of their annualreturn for the year of termination (seeExceptions in General Instruction Q).

If the organization has ceased to exist,write Final Returnat the top of page 1 of thereturn.

If the organization is terminating its privatefoundation status under section 507(b)(1)(B),see General Instructions U and V below.

U. Filing Requirements During Section 507

(b)(1)(B) Termination.Although anorganization terminating its private foundationstatus under section 507(b)(1)(B) may beregarded as a public charity for certainpurposes, it is still considered a privatefoundation for purposes of the filingrequirements and must file an annual returnon Form 990-PF. The return must be flied foreach year in the 60-month termination period,if that period has not expired before the duedate of the return.

The regulations under section 507(b)(1)(B)(iii) specify that within 90 days after theend of the termination period the organizationmust furnish information to its key districtdirector establishing that it has terminated itsprivate foundation status and, therefore,

qualifies as a public charity. If information isfurnished establishing a successfultermination, then for the final year of thetermination period the organization shouldcomply with the filing requirements for thetype of public charity it has become. See theinstructions for Form 990 and Schedule A(Form 990) for specific information on filingrequirements. This applies even if the keydistrict has not affirmed that the organizationhas terminated its private foundation status bythe time the return for the final year of thetermination is due (or would be due if a returnwere required).

The organization will be allowed areasonable period of time to file any privatefoundation returns required (for the last year

of the termination period) but not previouslyfiled if it is later determined that theorganization did not terminate its privatefoundation status. Interest on any tax due willbe charged from the original due date of theForm 990-PF, but penalties under sections6651 and 6652 will not be assessed if theForm 990-PF is filed within the period allowedby the key district.

V. Special Rules for Section 507(b)(1)(B)Terminations.If you are terminating yourprivate foundation status under the 60-monthprovisions of section 507(b)(1)(B), specialrules apply. (See General Instructions T andU.) Under these rules you may file Form990-PF without paying the tax on net

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investment income if the foundation filed aconsent under section 6501(c)(4) with itsnotification to the district director of itsintention to begin a section 507(b)(1)(B)termination. The consent states that theperiod of limitation on the assessment ofexcise tax under section 4940 or 4948 oninvestment income of any tax year in the60-month period will not expire until at leastone year after the period for assessing adeficiency for the last tax year in the 60-monthperiod would normally expire. Any foundationnot paying the tax with the filing of Form990-PF must attach a copy of the signedconsent.

Type of Organization.Check the block forExempt private foundation if the foundationhas a ruling or determination letter from IRS ineffect that recognizes its exemption fromFederal income tax as an organizationdescribed in section 501(c)(3) or if theorganization's exemption application ispending with IRS. Check the 4947(a)(1) trustblock if the trust is a nonexempt charitabletrust treated as a private foundation. All otherfilers should check the Other taxable privatefoundation block.

less than $1,000. If a contribution is in theform of property, furnish a description and thefair market value of the property.

If the foundation did not file the consent,the tax must be paid in the normal manner asexplained in General Instructions O and P.You may file a claim for refund aftercompleting termination or during thetermination period. The claim for refund mustbe filed timely and the organization mustfurnish information establishing that itqualified as a public charity for the period forwhich it paid the tax.

Specific Instructions

Name and Address.If you received a Form990-PF Package from the IRS with apreaddressed label, please attach the label tothe name and address area of the return youfile. If the name or address on the label iswrong, draw a line through the incorrectportion and enter the correct information. Theaddress used must be that of the principaloffice of the foundation.

Include the suite, room, or other unitnumber after the street address. If the PostOffice does not deliver mail to the streetaddress and the organization has a P.O. box,show the P.O. box number instead of thestreet address.Employer Identification Number.Youshould have only one employer identificationnumber. If you have more than one number,

notify the Internal Revenue Service Center, atthe appropriate address shown under GeneralInstruction J above. Inform them whatnumbers you have, the name and address towhich each number was assigned, and theaddress of your principal office. The IRS willthen advise you which number to use.

Section 507(b)(1)(A) Terminations.Aprivate foundation that has terminated itsstatus as such under section 507(b)(1)(A), bydistributing all its net assets to one or morepublic charities without retaining any right,title, or interest in those assets, should checkthe box in E on page 1 of Form 990-PF toindicate termination. See General InstructionsT and Q.60-Month Termination Under Section

507(b)(1)(B).Check the box in F on page 1of Form 990-PF if you are terminating yourprivate foundation status under the 60-monthprovisions of section 507(b)(1)(B) during theperiod covered by this return. To begin such atermination, a private foundation must havegiven advance notice to its key district directorand provided the information outlined inRegulations section 1.507-2(b)(3).

See General Instruction V for informationregarding payment of the tax on investmentincome (computed in Part VI) during a section507(b)(1)(B) termination.

See General Instruction U for informationregarding filing requirements during a section507(b)(1)(B) termination.

Fair Market Value of Assets.In block I onpage 1 of Form 990-PF, enter the fair marketvalue of all assets the foundation held at theend of the tax year. Note:This amount shouldbe the same as the figure reported in Part Il,column (c), line 16.Rounding Off to Whole-Dollar Amounts.You may show the money items on the returnand accompanying schedules as whole-dollaramounts. To do so, drop any amount lessthan 50 cents and increase any amount from50 cents through 99 cents to the next higherdollar.Currency and Language Requirements.Report all amounts in U.S. dollars (stateconversion rate used). Report all items intotal, including amounts from both U.S. and

non-U.S. sources. Furnish all information inthe English language.

Attachments.Use the schedules on theofficial form unless you need more space. Ifyou use attachments, they must:

State Form 990-PF and the tax year,

Show the organization's name andemployer identification number,

Include the information required by theform,

Follow the format and line sequence ofthe form, and

Be on the same size paper as the form.

Part IAnalysis of Revenueand Expenses

Note: The amounts in column (a) are therevenue and expenses as shown in the booksand records of the foundation. The total ofamounts in columns (b), (c), and (d) maynot necessarily equal the amountsincolumn (a). In Part XVIII-A, you are to analyzeamounts you entered in column (a) and online 5b.

Column (a)Revenue and Expensesper Books

Revenue.

Enter in column (a) all items of revenueshown in the books and records thatincreased the net assets of the organization.Do not include, however, the value of servicesdonated to the foundation, or items such asthe free use of equipment or facilities, in thecontributions received.Line 1.Contributions, gifts, grants, etc.,received.Enter the total of grosscontributions, gifts, grants, and similaramounts received. Attach an itemizedschedule if money, securities, or otherproperty valued at $5,000 or more wasreceived directly or indirectly from one personduring the year. The schedule should showthe name, address, the total amount receivedfrom each such person, and the datereceived.

In determining whether a person hascontributed $5,000 or more, total only gifts of$1,000 or more from each person. Separateand independent gifts need not be totaled if

The term person includes individuals,fiduciaries, partnerships, corporations,associations, trusts, and exemptorganizations.

Contributions from split-interest trustsshould be entered on both line 1 of column(a) and line 2 of column (b). They are a part ofthe amount on line 1. Report contributions onlines 1 and 2 only.

Line 3.interest on savings andtemporary cash investments.Enter thetotal amount of interest income from savingsor other interest-bearing accounts andtemporary cash investments, such as moneymarket funds, commercial paper, certificatesof deposit, and U.S. Treasury bills or othergovernment obligations that mature in lessthan one year.Line 4.Dividends and interest fromsecurities.Enter the amount of dividendand interest income from debt and equitysecurities (stocks and bonds) of the typereportable in Balance Sheets, Part II, line 10.Include amounts received from payments onsecurities loans, as defined in section512(a)(5). Do not include any capital gain

dividends reportable on line 6. See theinstructions for line 11 for reporting incomefrom program-related investments.Line 5a.Gross rents.Enter the grossrental income for the year from investmentproperty reportable on line 11 of Part II.

Line 5b.Net rental income or (loss).Figure the net rental income or (loss) for theyear and enter that amount on line 5b. Do notcarry this amount into columns (a) through (d).

Report rents from other sources on line 11,Other income. Enter, on lines 13 through 23,any expenses, such as interest anddepreciation, attributable to the rental incomereported on line 5.Line 6.Net gain or (loss) from sale ofassets.Enter the net gain or (loss) perbooks from the sale of all assets not includedon line 10. Since any gain is per the booksand may include gain on the sale of assetsused for charitable purposes, the gain enteredhere will not necessarily agree with thatshown in the other columns.

For assets sold and not included in Part IV,attach a schedule showing: (a) date acquired,manner of acquisition, date sold, and to whomsold; (b) gross sales price; (c) cost, otherbasis or value at time of acquisition if donated(state which basis); (d) expense of sale andcost of improvements made subsequent toacquisition; and (e) depreciation sinceacquisition, if depreciable property.

Lines 10a, b, c.Gross profit on sales of

inventory.Enter the gross sales (minusreturns and allowances), cost of goods sold,and gross profit or (loss) from the sale of allinventory items, including those sold in thecourse of special fundraising events andactivities. These inventory items are the onesthe organization either makes to sell to othersor buys for resale.

Do not report any sales or exchanges ofinvestments on line 10.

Do not include the profit or (loss) from thesale of items of a capital nature such assecurities, land, buildings, or equipment.Include such amounts on line 6.

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(1)

(2)

(3)

(4)

(5)

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Line 11.Other income.Enter the total ofall other income of the foundation for the year.Include royalty income, income fromprogram-related investments (defined in theinstructions for Part XIII, line 1b), and fromother assets used for charitable purposes(such as interest earned on scholarship loansand rents from low-income tenants), imputed

interest on certain deferred payments figuredunder section 483, and any investmentincome not reportable on lines 3 through 5.However, do not include unrealized gains andlosses on investments carried at marketvalue. Report those as fund balance or netasset adjustments in Part Ill. Attach aschedule showing the description and amountof the income.

Operating and Administrative Expenses.Enter in column (a) all items of expense,shown in the books and records, thatdecreased the net assets of the organization.However, do not include on lines 13 through26 any expenses used to compute capitalgains and losses on lines 6, 7, and 8 orexpenses included in cost of goods sold on

line 10b.Line 13.Compensation of officers,directors, trustees, etc.Enter the totalcompensation for the year of all officers,directors, and trustees. If none was paid,enter "-0-." Complete subpart 1 of Part VIII toshow the compensation of officers, directors,foundation managers, and trustees.

Line 18.Taxes.Enter the total taxes paid(or accrued) during the year. The total shouldinclude all types of taxes recorded on thebooks, including real estate tax not reportedon line 20; the tax on investmentincome; and any income tax. Do not enter anytaxes included on line 15. Attach a schedule

listing the type and amount of each taxreported on line 18.

Line 20.Occupancy.Enter the totalamount paid or incurred for the use of office

space or other facilities. If the space is rentedor leased, enter the amount of rent. If space isowned, enter the amount of mortgageinterest, real estate taxes, and similarexpenses, but not depreciation (reportable online 19). In either case, include the amount forutilities and related expenses, e.g., heat,lights, water, power, telephone, sewer, trashremoval, outside janitorial services, andsimilar services. Do not include any salariesof your own employees which are reportableon line 14.

(a) Description of the amortized expenses;

(b) Date acquired, completed, or expended;

(c) Amount amortized;

(e) Amortization period (number of months);

(g) Total amount of amortization.

Do not include any expenses incurred inthe business activities such as salaries, taxes,rent, etc. Include them instead on lines 13through 23.

Lines 16a, b, and c.Legal, accounting,and other professional fees.On theappropriate line(s), enter the total amount oflegal, accounting, auditing, and otherprofessional fees (such as fees for fundraisingor investment services) charged by outsidefirms and individuals who are not employeesof the foundation.

Attach a schedule for lines 16a, b, and cShow the type of service and amount ofexpense for each. If the same personprovided more than one of these services,

Line 14.Other employee salaries andwages.Enter the total salaries and wagesof all employees other than those included online 13.

Line 15.Contributions to employeepension plans and other benefits.Enterthe total of the employer's share of thecontributions the organization paid to qualifiedand nonqualified pension plans and theemployer's share of contributions to employeebenefit programs (such as insurance, health,and welfare programs) that are not anincidental part of a pension plan. Completethe return/report of the Form 5500 series thatis appropriate for your plan. (See theinstructions for Form 5500 for informationabout employee welfare benefit plansrequired to file that form.)

Also include in the total the amount ofFederal, state, and local payroll taxes for theyear, but only those that are imposed on theorganization as an employer. This wouldinclude the employer's share of FICA tax,FUTA tax, state unemployment compensationtax, and other state and local payroll taxes.

Do not include taxes withheld fromemployees' salaries and paid over to thevarious governmental units (such as Federaland state income taxes and the employee'sshare of FICA taxes).

provide an allocation of those expenses. (Seethe instructions for Part VIII, line 3.) Reportany fines, penalties, or judgments imposedagainst the foundation as a result of legalproceedings on line 23, Other expenses.

Line 19.Depreciation and depletion.Enter the total expense recorded in the booksfor the year.

For depreciation, attach a scheduleshowing: (a) description of the property; (b)date acquired; (c) cost or other basis (excludeany land); (d) depreciation allowed orallowable in prior years; (e) method ofcomputation; (f) rate (%) or life (years); and(g) depreciation this year. On a separate linein the schedule, show the amount ofdepreciation included in cost of goods soldand not included on line 19.

Line 21.Travel, conferences, andmeetings.Enter the total expenses forofficers, employees or others during the yearfor travel, attending conferences, meetings,etc. The amount should include transportation

(including fares, mileage allowance, orautomobile expenses), meals and lodging,and related costs whether paid on the basis ofa per diem allowance or actual expensesincurred. Do not include any compensationpaid to those who participate.

Line 22.Printing and publications.Enter the total amount of expenses forprinting or publishing and distributing anynewsletters, magazines, etc. Also include thecost of subscriptions to, or purchases of,magazines, newspapers, etc.Line 23.Other expenses.Enter the totalof all other expenses for the year. If aseparate line is provided for an expense, usethat line. Attach a schedule showing the type

and amount of each expense.If a deduction is claimed for amortization,attach a schedule showing:

(d) Deduction for prior years;

(f) Current-year amortization; and

Line 25.Contributions, gifts, grantspaid.Enter the total of all contributions,gifts, grants, and similar amounts paid (oraccrued) for the year. List each contribution,gift, grant. etc., in Part XVI, or attach aschedule of the items included on line 25

and list: (a) each class of activity; (b) separatetotal for each activity; (c) name and addressof donee; (d) relationship of donee, if relatedby blood, marriage, adoption, or employment(including children of employees) to anydisqualified person (see definitions); and (e)the organizational status of donee (forexample, public charityan organizationdescribed in section 509(a)(1), (2), or (3)).You do not have to give the name of anyindigent person who received one or moregifts or grants from the foundation unless thatperson is a disqualified person or one whoreceived a total of more than $1,000 from thefoundation during the year.

Activities should be classified according topurpose and in greater detail than by merelyclassifying them as charitable, educational,religious, or scientific activities. For example,use such identification as: payments fornursing service, for fellowships, or forassistance to indigent families.

Foundations may include, as a single entryon the schedule, the total of amounts paid asgrants for which the foundation exercisedexpenditure responsibility. Attach a separatereport for each grant.

When the fair market value of the propertyat the time of disbursement is the measure of

a contribution, the schedule must also show:(a) description of the contributed property; (b)book value of the contributed property; (c) themethod used to determine the book value; (d)the method used to determine the fair marketvalue; and (e) the date of the gift. Thedifference between fair market value andbook value should be shown in the books ofaccount.

Net Amounts.Line 27a.Excess of revenue overexpenses.Subtract line 26, column (a),from line 12, column (a). Enter the difference.Generally, the amount shown in column (a) onthis line would also be the amount by whichnet assets (or fund balances) have increasedor decreased for the year. See the

instructions for Part III, Analysis of Changes inNet Assets or Fund Balances.Column (b)Net Investment Income

Revenue.All domestic private foundations (including

section 4947(a)(1) charitable trusts) arerequired to pay an excise tax each tax year ontheir net investment income.

Exempt foreign foundations are subject toan excise tax on their gross investmentincome from U.S. sources. These foreignorganizations should complete lines 3, 4, 5,11, 12, and 27b of column (b) and reportONLY income derived from U.S. sources. Noother income is to be included. No expensesare allowed as deductions.

Gross investment income means the totalamount of investment income that wasreceived by a private foundation from allsources. However, it does not include anyincome included in figuring the tax onunrelated business income. It includesinterest, dividends, rents, payments withrespect to securities loans (as defined insection 512(a)(5)), and royalties received fromassets devoted to charitable activities.Therefore, interest received on a student loanwould be includible in the gross investmentincome of a private foundation making theloan.

Net investment income is the amount bywhich the sum of gross investment income

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Line 2.Certain contributions from"split-interest" trusts described in section4947(a) (2).The income portion ofdistributions from split-interest trusts is treatedas investment income to the extent that it wasearned on amounts placed in trust after May26, 1969. Include only that income portion ofsuch distributions on line 2. That same figureis a part of line 1.

and the capital gain net income exceeds theallowable deductions discussed later.Tax-exempt interest on governmentalobligations and related expenses areexcluded.

Note: The deduction for expenses paid orincurred in any tax year for producing grossinvestment income earned incident to a

charitable function cannot be more than theamount of income earned from the functionwhich is includible as gross investmentincome for the year. For example, if rentalincome is incidentally realized in 1990 fromhistoric buildings held open to the public,deductions for amounts paid or incurred in1990 for the production of such income maynot be more than the amount of rental incomeincludible as gross investment income incolumn (b) for 1990.

Line 19.Depreciation and depletion.For column (b), a deduction for depreciation isallowed only for property used in connectionwith the production of investment income, andONLY on the straight-line method ofcomputing depreciation.

Line 21.Only 80% of the expense forbusiness meals, etc., paid or incurred inconnection with travel, meetings, etc., relatingto the production of investment income, maybe deducted in computing net investmentincome (section 274 (n)).

A deduction for amortization is allowed, but

only for an asset used for the production ofinvestment income.

Examples: (i) A charitable activity generated

$5,000 of income and $4,000 of expenses.Report all of the income and expenses incolumn (c) and none in column (d).

Include in column (b), all or part of anyamount from column (a) that applies toinvestment income. However, see theexception given below, and the additionalrules for specific line items.

Do not include in column (b) any interest,dividends, rents or royalties (and related

expenses) that were reported on Form 990-Tbecause you had gross income of $1,000 ormore from a trade or business unrelated toyour charitable purpose.

For example: Investment income derivedfrom debt-financed property unrelated to yourcharitable purpose and certain rents (andrelated expenses) treated as unrelated tradeor business income should be reported onForm 990-T. Income from debt-financedproperty that is not taxed under section 511 istaxed under section 4940. Thus, if thedebt/basis percentage of a debt-financedproperty is 80%, only 80% of the grossincome (and expenses) for that property isused to figure the section 511 tax on Form990-T. The remaining 20% of the gross

income (and expenses) of that property isused to figure the section 4940 tax on netinvestment income on Form 990-PF. (SeeForm 990-T and instructions for moreinformation.)

Line 3.Interest on savings andtemporary cash investments.Enter theamount of interest income shown in column

(a). Do not include interest on tax-exemptgovernment obligations.

Line 4.Dividends and interest fromsecurities.Enter the amount of dividendand interest income, and payments onsecurities loans from column (a). Do notinclude interest on tax-exempt governmentobligations.Line 5.Gross rents.Enter the grossrental income from column (a).

Line 7.Capital gain net income.Enterthe capital gain net income from Part IV, line2. See Part IV instructions.Line 11.Other income.Enter the amountof investment income included in line 11,column (a). Include dividends, interest, rents,and royalties derived from assets devoted to

charitable activities, such as interest onstudent loans.Line 12.Total.Domestic organizationsenter the total of lines 1 through 11. Exemptforeign organizations enter the total of lines 3,4, 5, and 11 only.

Operating and Administrative Expenses.Include in column (b), all ordinary and

necessary expenses paid or incurred toproduce or collect investment income from:interest, dividends, rents, amounts receivedfrom payments on securities loans (as definedin section 512(a)(5)), and royalties, or for themanagement, conservation, or maintenanceof property held for the production of incomethat is taxable under section 4940.

If any of the expenses listed in column (a)are paid or incurred for both investment andcharitable purposes, they must be allocatedon a reasonable basis between theinvestment activities and the charitableactivities so that only expenses frominvestment activities will appear in column (b).Examples of allocation methods are given inthe general instructions of Part XVII-A.

Do not include on lines 13 through 23 ofcolumn (b) any expenses paid or incurred thatare allocable to tax-exempt interest that isexcluded from lines 3 and 4.Line 18.Taxes.Enter only those taxesincluded in column (a) that are related to

investment income taxable under section4940. DO NOT, however, include the tax paidor incurred on net investment income or thesection 511 tax on unrelated businessincome. Sales taxes may not be deductedseparately, but must be treated as a part ofthe cost of acquired property, or as areduction of the amount realized ondisposition of the property.

A deduction for depletion is allowed, butmust be computed ONLY on the cost

depletion method.The basis used in computing depreciation

and depletion is the basis determined undernormal basis rules, without regard to the fairmarket value on December 31, 1969, thatmay be used in determining gain or loss whenthe asset is sold.

Net Amounts.

Line 27b.Net investment income.Domestic organizations subtract line 26 fromline 12. Enter the difference. Exempt foreignorganizations enter the amount shown on line12.

The amount entered is subject to theexcise tax imposed on private foundations(domestic organizations1% (4940(e)), 2%(4940(a) or (b)); exempt foreignorganizations4% (4948)) as computed inPart VI. However, if you are a domesticorganization and line 26 is more than line 12

(i.e., expenses exceed income), enter -0-,and not a negative amount.Column (c)Adjusted Net Income

Revenue.

The amounts included in column (c) areused to figure the private foundation'sadjusted net income. In general, adjusted netincome is the amount by which a privatefoundation's gross income is more than theexpenses of earning the income. Themodifications and exclusions explained beloware applied to gross income and expenses in

figuring adjusted net income.For column (c), include income from:

charitable functions; investment activities;short-term capital gains from investments;amounts set aside; and unrelated trade orbusiness activities. Do not include gifts, grantsor contributions, or long-term capital gains orlosses. Nonoperating private foundationsshould follow the special rules that apply tothem.Note: In completing column (c) include ineach line only that portion of the amount fromcolumn (a) that is applicable to the adjustednet income computation.

Private Operating Foundations.Allorganizations that claim status as privateoperating foundations under section

4942(j)(3) or 4942(j)(5) must complete alllines of column (c) that apply, according to thegeneral rules for income and expenses thatapply to this column, the specific lineinstructions in lines 3 through 27c andExamples (i) and (ii) given below.

If a nonoperating private foundation hasno income from charitable activities thatwould be reportable on line 10 or line 11of Part I, it does not have to make anyentries in column (c).

If a nonoperating private foundation hasincome from charitable activities, it must

report that income only on lines 10 and/or11 in column (c). These foundations donot need to report other kinds of incomeand expenses (such as investmentincome and expenses) in column (c)).

(1)

(2)

Nonoperating Private Foundations.Thefollowing special rules and examples apply tononoperating private foundations.

The expenses attributable to each specificcharitable activity, limited by the amountof income derived from the activity, mustbe reported in column (c) on lines 13through 26. If the expenses of anycharitable activity exceed the incomegenerated by that activity, the excess ofthese expenses over the income, andonly that excess, should be reported incolumn (d). Note the examples givenbelow.

(3)

(ii) A charitable activity generated $5,000of income and $6,000 of expenses. Report$5,000 of income and $5,000 of expenses incolumn (c) and the excess expenses of$1,000 in column (d).

Line 23.Other expenses.Enter the partof other expenses included in column (a) thatapplies to investment income.

Line 3.Interest on savings andtemporary cash investments.Enter theamount of interest income shown in column(a). Include interest on tax-exemptgovernment obligations.

Line 4.Dividends and interest fromsecurities.Enter the amount of dividendsand interest income and payments on

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securities loans from column (a). Includeinterest on tax-exempt governmentobligations.

Do not include in column (d) any amount or

part of an amount that is included in column(b) or (c).

Include only net short-term capital gain for

the year (assets sold or exchanged that wereheld not more than one year). Do not includea net long-term capital gain and loss or a netshort-term capital loss in column (c).

Deductible expenses include that part of aprivate foundation's operating expenses thatis paid or incurred to produce or collect grossincome reported on lines 3-11 of column (c). Ifonly a part of the property produces incomeincludible in column (c), deductions such asinterest, taxes, and rent must be dividedbetween the charitable and noncharitableuses of the property. If the deductions forproperty used for a charitable, educational, orother similar purpose are more than the

income derived from the property, the excesswill not be allowed as a deduction, but may betreated as a qualifying distribution in Part I,column d). (See Examples (i) and (ii) given onpage 8.)

Line 5.Gross rents.Enter the grossrental income from column (a).

Line 13.Compensation of officers,etc.Enter the portion of the compensationincluded in column (a) that was paid orincurred to produce or collect income includedin column (c).

Line 8.Net short-term capital gain.

Note: Only private operating foundationsshould compute their short-term capital gainsand report them on line 8.(Nonoperating Private Foundations shouldsee the above instructions.)

The net gain from the sale or exchange ofdepreciable property, or land used in a tradeor business (section 1231) and held for morethan one year is not included in thecomputation of adjusted net income. The netloss from such property, however, should beincluded on line 23, Other expenses.

In general, organizations may use the netshort-term capital gain reported in Part IV, line3. However, since Part IV does not take intoaccount capital gains and losses related todebt-financed property, any short-term capitalgain on debt-financed property would have to

be taken into account in figuring the netshort-term capital gain reported on line 8. Seethe instructions for Form 990-T for definitionof debt-financed property.

Line 9.Income modifications.Include onthis line:

Amounts received or accrued asrepayments of amounts taken intoaccount as qualifying distributions (seethe instructions for Part XIII for anexplanation of qualifying distributions) forany year.

Amounts received or accrued from thesale or other disposition of property to theextent that the acquisition of the propertywas considered a qualifying distribution

for any tax year.

(a)

(b)

Any amount set aside for a specificproject (see explanation in theinstructions, for Part XIII) that was notnecessary for the purposes for which itwas set aside.

(c)

Income received from an estate but onlyif the estate was considered terminatedfor income tax purposes due to aprolonged administration period.

(d)

Amounts treated in a preceding tax yearas qualifying distributions to:

(e)

a private foundation, which is not aprivate operating foundation, if theamounts were not redistributed by thegrantee organization by the close ofits tax year following the year in which

it received the funds, or

(i)

an organization controlled by thedistributing foundation or adisqualified person if the amountswere not redistributed by the granteeorganization by the close of its taxyear following the year in which itreceived the funds.

(ii)

Line 10.Gross profit on sales ofinventory.Enter the gross profit from salesof inventory as shown in column (a), line 10c.

Line 11.Other income.Include all otheritems includible in adjusted net income notcovered elsewhere in column (c).

Operating and Administrative Expenses.

Line 18.Taxes.Enter only those taxesincluded in column (a) that relate to incomeincluded in column (c). DO NOT include anyexcise tax paid or incurred on the netinvestment income (as shown in Part VI), orany income tax paid or incurred on incomereported on Form 990-T.

Line 19.Depreciation and depletion.Adeduction for depreciation is allowed only forproperty used in connection with theproduction of income reported in column (c)and ONLY on the straight-line method ofcomputing depreciation.

A deduction for depletion is allowed, butmust be figured ONLY on the cost depletionmethod.

In figuring depreciation and depletion,determine the basis under normal basis rules,without regard to the special rules for usingthe fair market value on December 31, 1969,that relate only to gain or loss on dispositionsfor purposes of the tax on net investmentincome.

Line 21.Travel, conferences, andmeetings.Enter the total amount ofexpenses paid or incurred by officers,employees, or others for travel, conferences,meetings, etc., related to income included incolumn (c).

Line 22.Printing and publications.Enter the total amount paid or incurred forprinting and distributing newsletters,magazines, directories, etc., published by theorganization, and subscription costs formagazines or newspapers that relate toincome included in column (c).

Line 23.Other expenses.ln addition tothe applicable portion of expenses fromcolumn (a), also include any net loss from thesale or exchange of land or depreciable

property that was held for more than one yearand used in a trade or business.

A deduction for amortization is allowed, butonly for assets used for the production ofincome reported in column (c).

Net Amounts.

Line 27c.Adusted net income.Subtractline 26, column (c) from line 12, column (c)and enter the difference.

Column (d)Disbursements for CharitablePurposes

Operating and Administrative Expenses.

Note: For amounts entered in column (d), usethe cash receipts and disbursements methodof accounting, regardless of the method of

accounting used in keeping the books of thefoundation.

Expenses entered in column (d) relate toactivities that constitute the charitablepurpose of the foundation. Include on lines 13through 25 all expenses, including necessaryand reasonable administrative expenses, paidby the foundation for religious, charitable,scientific, literary, educational, or other publicpurposes, or for the prevention of cruelty tochildren or animals.

For any expense amount entered incolumn (a), enter only the part allocable to thecharitable purposes of the foundation incolumn (d).Example: An educational seminar produced$1,000 in income which was reportable incolumns (a) and (c). Expenses attributable tothis charitable activity were $1,900. Only$1,000 of expense would be reported incolumn (c) and the remaining $900 inexpense would be reported in column (d).

The total of the expenses anddisbursements on line 26 is used in Part XIIIto figure total qualifying distributions.

Generally, gifts and grants to organizationsdescribed in section 501(c)(3), that have beendetermined to be publicly supported charities(i.e., organizations not private foundations asdefined in section 509(a)), are qualifyingdistributions, provided that the grantingfoundation does not control the public charity.

For purposes of column (d), include adistribution of property at the fair market valueon the date the distribution was made.

If you want to provide an analysis ofdisbursements that is more detailed thancolumn (d), you may attach a scheduleinstead of completing lines 13 through 25.The schedule must include all the specificitems of lines 13 through 25, and the totalfrom the schedule must be entered in column

(d), line 26.Line 18.Taxes.Do not include any excisetax paid on investment income (as reported inPart VI of this return or the equivalent part ofa return for prior years) unless theorganization is claiming status as a privateoperating foundation and completes Part XV.

Line 25.Contributions, gifts, grantspaid.Enter on line 25 all contributions, gifts,and grants the foundation paid during theyear.

Do not include contributions toorganizations controlled by the foundation orby a disqualified person (see GeneralInstruction C for definitions). Do not includecontributions to nonoperating foundations,unless the donees are exempt from tax under

section 501(c)(3); they redistribute thecontributions; and they maintain sufficientevidence of redistributions according to theregulations under section 4942(g).

Do not reduce the amount of grants paid inthe current year by the amount of grants paidin a prior year that was returned or recoveredin the current year. Report those repaymentsin column (c), line 9, and in Part X, line 4a.

Do not include any payments of set-asides(see instructions for Part XIII, line 3) taken intoaccount as qualifying distributions in thecurrent year or any prior year. All set-asides

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(a) Borrower's name and title;

(b) Original amount;

(c) Balance due;

(e) Maturity date;

(g) Interest rate;

periods. Examples include prepayments ofrent, insurance, and pension costs, andexpenses incurred in connection with asolicitation campaign to be conducted in afuture accounting period.

(b) Receivables that are subject to the sameterms and conditions (including credit limitsand rate of interest) as receivables due fromthe general public and that arose inconnection with an activity functionally relatedto the foundation's charitable purposes maybe reported as a single total for all theofficers, directors, etc. Travel advances madein connection with official business of theorganization may also be reported as a singletotal.

Line 7.Other notes and loansreceivable.Enter the combined total of

notes receivable and net loans receivable.

(d) Date of note;

(f) Repayment terms;

Line 8.Inventories for sale or use.Enter the amount of materials, goods, andsupplies purchased or manufactured by theorganization and held for sale or use in somefuture period.

are included in qualifying distributions (PartXIII, line 3) in the year of the set-asideregardless of when paid.

Do not include any payments that are notqualifying distributions as defined in section4942(g)(1).

Part IIBalance SheetsFor column (b), show the book value at theend of the year. For column (c) show the fairmarket value at the end of the year. Attachedschedules must show the end-of-year valuefor each asset listed in columns (b) and (c).

When space is provided to the left ofcolumn (a) for reporting receivables and therelated allowance for doubtful accounts ordepreciable assets and accumulateddepreciation, enter the end-of-year figures.

Foundations that had assets of $5,000 ormore at any time during the year mustcomplete all of columns (a), (b), and (c).

Foundations with less than $5,000 of totalassets at all times during the year mustcomplete all of columns (a) and (b), and onlyline 16 of column (c).

Line 1.Cashnon-interest-bearing.Enter the amount of cash on deposit inchecking accounts, deposits in transit, changefunds, petty cash funds, or any other

non-interest-bearing account. Do not includeadvances to employees or officers orrefundable deposits paid to suppliers orothers.

Line 4.Pledges receivable.Enter thetotal pledges receivable recorded as of thebeginning and end of the year, reduced by theamount of pledges estimated to beuncollectible.

Line 3.Accounts receivable.Enter thetotal accounts receivable (reduced by thecorresponding allowance for doubtfulaccounts) that arose from the sale of goodsand/or the performance of services. Claims

against vendors or refundable deposits withsuppliers or others may be reported here ifnot significant in amount. (Otherwise, reportthem on line 15, Other assets.) Anyreceivables due from officers, directors,trustees, foundation managers, or otherdisqualified persons must be reported on line6. Receivables (including loans andadvances) due from other employees shouldbe reported on line 15.

Line 5.Grants receivable.Enter the totalgrants receivable from governmental

agencies, foundations, and otherorganizations as of the beginning and end ofthe year.Line 6.Receivables due from officers,directors, trustees, and other disqualifiedpersons.Enter here (and in an attachedschedule described below) all receivables duefrom officers, directors, trustees, foundationmanagers, and other disqualified persons andall secured and unsecured loans (includingadvances) to such persons.

Attached schedules.(a) In the requiredschedule, report each loan separately, even ifmore than one loan was made to the sameperson, or the same terms apply to all loansmade.

Salary advances and other advances forthe personal use and benefit of the recipientand receivables subject to special terms orarising from transactions not functionallyrelated to the foundation's charitable purposesmust be reported as separate loans for eachofficer, director, etc.

For each outstanding loan or otherreceivable that must be reported separately,the attached schedule should show thefollowing information (preferably in columnarform):

(h) Security provided by the borrower;

(i) Purpose of the loan; and

Description and fair market value of theconsideration furnished by the lender(for example, cash$1,000; or 100shares of XYZ, Inc., common stock$9,000).

(j)

The above detail is not required forreceivables or travel advances that may bereported as a single total (see instruction (b)above); however, report and identify thosetotals separately in the attachment.

Notes receivable.Enter the amount of allnotes receivable not listed on line 6 and notacquired as investments. Attach a schedulesimilar to that called for in the instructions forline 6. The schedule should also identify therelationship of the borrower to any officer,director, trustee, foundation manager, or otherdisqualified person.

For a note receivable from any section501(c)(3) organization, list only the name ofthe borrower and the balance due on therequired schedule.

Loans receivable.Enter the gross amount ofloans receivable, less the allowance fordoubtful accounts, arising from the normalactivities of the filing organization (such as

scholarship loans). An itemized list of theseloans is not required, but attach a scheduleindicating the total amount of each type ofloan outstanding. Report loans to officers,directors, trustees, foundation managers, orother disqualified persons on line 6 and loansto other employees on line 15.

Line 9.Prepaid expenses and deferredcharges.Enter the amount of short-termand long-term prepayments of expensesattributable to one or more future accounting

Lines 10a, b, and c.Investmentsgovernment obligations, corporate stocksand bonds.Enter the book value (whichmay be market value) of these investments.

Attach a schedule that lists each securityheld at the end of the year and shows whetherthe security is listed at cost (including the

value recorded at the time of receipt in thecase of donated securities) or end-of-yearmarket value. Do not include amounts shownon line 2. Debt securities of the U.S.Government may be reported as a single totalrather than itemized. Obligations of state andmunicipal governments may also be reportedas a lump-sum total. Do not combine U.S.Government obligations with state andmunicipal obligations on this schedule.

Line 11.Investmentsland, buildings,and equipment.Enter the book value (costor other basis less accumulated depreciation)of all land, buildings, and equipment held forinvestment purposes, such as rentalproperties. Attach a schedule listing theseinvestment fixed assets held at the end of the

year and showing, for each item or categorylisted, the cost or other basis, accumulateddepreciation, and book value.

Line 12.Investmentsmortgageloans.Enter the amount of mortgage loansreceivable held as investments but do notinclude program-related investments (seeinstructions for line 15).

Line 13.Investmentsother.Enter theamount of all other investment ho