Yes. All private foundations must file an annual return called the 990-PF with the IRS, regardless of asset size or gross revenues. Although an abbreviated filing exists for public charities with assets and revenues below $25,000, no such form exists for private foundations. The 990-PF is due on the fifteenth day of the fifth month following the close of the foundation’s taxable year, or on May 15th, for those foundations using a calendar year. If you file your own 990-PF, we recommend that you seek a review by an accountant or attorney knowledgeable about the laws related to tax-exempt organizations to ensure a complete and accurate filing.
Purchase a line-by-line walk-through of the form in our primer, Filing the Form 990-PF, and check our educational programs calendar for our next 990-PF Seminar.