In Section I, we find the fair market value of the foundation's assets at the end of the year. Assets are certainly one way of evaluating the size of a foundation. In general, a private foundation must meet or exceed an annual payout requirement of 5% of the average market value of its assets.
Tip: If the box in section I is left blank, the amount of total assets can also be found on page 2, line 16, column C.
Part I, Line 1 provides the amount of contributions, gifts or grants the foundation received during the year. This might be of interest to grantseekers, particularly if it indicates a drastic increase in foundation assets from the previous year. Such a jump may be due to a sudden increase of wealth for the foundation's donor, or perhaps when it follows the death of the donor, who earmarked a sizable portion of his estate to the foundation.
According to this return, the total amount of contributions, gifts or grants received by the Chandhok Charitable Trust during 2008 totalled $15,650.
Part I, Line 25, column D provides the amount of contributions, gifts, and grants
paid by the foundation during the year. This figure is for actual monies paid
in grants for the year of filing. It does not include grants authorized, but
not paid in the year of filing. Grants in column A are grants authorized for
the year of filing, but not necessarily paid. In most cases, the two columns
report the same figure, and occasionally, column D may be blank. On the above
form, we see that during 2008, the Chandhok Charitable Trust awarded grants totalling
$8,787.64.
Tip: The figure in column D is used in Foundation Center directories when reporting a foundation's total giving.
Tip: Pay attention to the date stamps--when the 990-PF was received by the IRS and when it was scanned. If you are looking for this foundation next year, those dates will give you a good sense of when it files (and, by extension, when you might expect its return to show up online).
