What are the disclosure requirements for private foundations filing the Form 990-PF?

According to regulations, which took effect March 13, 2000, private foundations are required to provide, at a "reasonable fee," photocopies of their three most recent tax returns (the Form 990-PF) as well as their original application for tax-exempt status (form 4720) to anyone who requests them in person or in writing. Requested copies of the Form 990-PF and the exemption application are required to be made available on a same day basis for walk-in requests, and within 30 days for mail-in requests. As with other tax-exempt organizations, the requirements will be waived for private foundations that make the documents "widely available" through the Internet.

Under these rules, foundations will no longer be required to publish public notices that they have filed their returns and will not be required to fulfill requests when they are determined to be part of a campaign of harassment. Unlike other tax-exempt organizations, however, private foundations will be required to make publicly available the names and addresses of their donors.

The full text is available from the Federal Register Vol. 65, No. 9, January 13, 2000.

For more information on the new disclosure regulations, see "Private Foundation Disclosure Regulations Finalized" from the Independent Sector's Exempt Organizations Update, January 2000.

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