Part II. Balance Sheets

For column (b), show the book value at the end of the year. For column (c), show the fair market value at the end of the year. Attached schedules must show the end-of-year value for each asset listed in columns (b) and (c).

Foundations whose books of account included total assets of $5,000 or more at any time during the year must complete all of columns (a), (b), and (c).

Foundations with less than $5,000 of total assets per books at all times during the year must complete all of columns (a) and (b) and only line 16 of column (c).

Line 1. Cash—Non-interest-bearing. Enter the amount of cash on deposit in checking accounts, deposits in transit, change funds, petty cash funds, and any other non-interest-bearing account. Don’t include advances to employees or officers or refundable deposits paid to suppliers or others.

Line 2. Savings and temporary cash investments. Enter the total of cash in savings or other interest-bearing accounts and temporary cash investments, such as money market funds, commercial paper, certificates of deposit, and U.S. Treasury bills or other governmental obligations that mature in less than 1 year.

Line 3. Accounts receivable. On the dashed lines to the left of column (a), enter the year-end figures for total accounts receivable and allowance for doubtful accounts from the sale of goods and/or the performance of services. In columns (a), (b), and (c), enter net amounts (total accounts receivable reduced by the corresponding allowance for doubtful accounts). Claims against vendors or refundable deposits with suppliers or others may be reported here if not significant in amount. (Otherwise, report them on line 15.) Any receivables due from officers, directors, trustees, foundation managers, or other disqualified persons must be reported on line 6. Report receivables (including loans and advances) due from other employees on line 15.

Line 4. Pledges receivable. On the dashed lines to the left of column (a), enter the year-end figures for total pledges receivable and allowance for doubtful accounts (pledges estimated to be uncollectible). In columns (a), (b), and (c), enter net amounts (total pledges receivable reduced by the corresponding allowance for doubtful accounts).

Line 5. Grants receivable. Enter the total grants receivable from governmental agencies, foundations, and other organizations as of the beginning and end of the year.

Line 6. Receivables due from officers, directors, trustees, and other disqualified persons. Enter here (and on an attached schedule described below) all receivables due from officers, directors, trustees, foundation managers, and other disqualified persons and all secured and unsecured loans (including advances) to such persons. Don’t adjust the amounts reported by any amount(s) estimated to be uncollectible. “Disqualified person” is defined in C. Definitions , earlier.

Attached schedules. 1. On the required schedule, report each loan separately, even if more than one loan was made to the same person or the same terms apply to all loans made. Salary advances and other advances for the personal use and benefit of the recipient and receivables subject to special terms or arising from transactions not functionally related to the foundation's charitable purposes must be reported as separate loans for each officer, director, etc.

2. Receivables that are subject to the same terms and conditions (including credit limits and rate of interest) as

receivables due from the general public from an activity functionally related to the foundation's charitable purposes may be reported as a single total for all the officers, directors, etc. Travel advances made for official business of the organization may also be reported as a single total.

For each outstanding loan or other receivable that must be reported separately, the attached schedule should show the following information (preferably using columns).

1. Borrower's name and title.

2. Original amount.

3. Balance due.

4. Date of note.

5. Maturity date.

6. Repayment terms.

7. Interest rate.

8. Security provided by the borrower.

9. Purpose of the loan.

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

The above detail isn't required for receivables or travel advances that may be reported as a single total (see the discussion of receivables in (2) above); however, report and identify those totals separately on the attachment.

Line 7. Other notes and loans receivable. On the dashed lines to the left of column (a), enter the combined total year-end figures for other notes receivable and loans receivable and the allowance for doubtful accounts.

Notes receivable. In columns (a), (b), and (c), enter the amount of all notes receivable not listed on line 6 and not acquired as investments. Attach a schedule similar to the one for line 6. The schedule should also identify the relationship of the borrower to any officer, director, trustee, foundation manager, or other disqualified person.

For a note receivable from any section 501(c)(3) organization, list only the name of the borrower and the balance due on the required schedule.

Loans receivable. In columns (a), (b), and (c), enter the gross amount of loans receivable, minus the allowance for doubtful accounts, from the normal activities of the filing organization (such as scholarship loans). An itemized list of these loans isn't required, but attach a schedule showing the total amount of each type of outstanding loan. Report loans to officers, directors, trustees, foundation managers, or other disqualified persons on line 6 and loans to other employees on line 15.

Line 8. Inventories for sale or use. Enter the amount of materials, goods, and supplies purchased or manufactured by the organization and held for sale or use in some future period.

Line 9. Prepaid expenses and deferred charges. Enter the amount of short-term and long-term prepayments of expenses attributable to one or more future accounting periods. Examples include prepayments of rent, insurance, and pension costs, and expenses incurred in connection with a solicitation campaign to be conducted in a future accounting period.

Lines 10a, b, and c. Investments—government obligations, corporate stock and bonds. Enter the book value (which may be market value) of these investments.

Attach a schedule that lists each security held at the end of the year and shows whether the security is listed at cost (including the value recorded at the time of receipt in the case of donated securities) or end-of-year market value. Don’t include amounts shown on line 2. Governmental obligations reported on

20 Instructions for Form 990-PF (2025)

line 10a are those that mature in 1 year or more. Debt securities of the U.S. Government may be reported as a single total rather than itemized. Obligations of state and municipal governments may also be reported as a lump-sum total. Don’t combine U.S. Government obligations with state and municipal obligations on this schedule.

Line 11. Investments—land, buildings, and equipment. On the first dashed line to the left of column (a), enter the year-end book value (excluding accumulated depreciation), and on the second dashed line, enter the accumulated depreciation of all land, buildings, and equipment held for investment purposes, such as rental properties. In columns (a) and (b), enter the book value of all land, buildings, and equipment held for investment less accumulated depreciation. In column (c), enter the fair market value of these assets. Attach a schedule listing these investment fixed assets held at the end of the year and showing, for each item or category listed, the original cost or other basis, accumulated depreciation, and ending book value.

Line 12. Investments—mortgage loans. Enter the amount of mortgage loans receivable held as investments but don't include program-related investments (see the instructions for line 15).

Line 13. Investments—other. Enter the amount of all other investment holdings not reported on lines 10 through 12. Attach a schedule listing and describing each of these investments held at the end of the year. Show the book value for each and indicate whether the investment is listed at cost or end-of-year market value. Don’t include program-related investments (see the instructions for line 15).

Line 14. Land, buildings, and equipment. On the first dashed line to the left of column (a), enter the year-end book value (excluding accumulated depreciation), and on the second dashed line, enter the accumulated depreciation of all land, buildings, and equipment owned by the organization and not held for investment. In columns (a) and (b), enter the book value of all land, buildings, and equipment not held for investment less accumulated depreciation. In column (c), enter the fair market value of these assets. Include any property, plant, and equipment owned and used by the organization to conduct its charitable activities. Attach a schedule listing these fixed assets held at the end of the year and showing the original cost or other basis, accumulated depreciation, and ending book value of each item or category listed.

Line 15. Other assets. List and show the book value of each category of assets not reportable on lines 1 through 14. Attach a separate schedule if more space is needed.

One type of asset reportable on line 15 is program-related investments. These are investments made primarily to accomplish a charitable purpose of the filing organization with no significant purpose to produce income.

Line 16. Total assets. All filers must complete line 16 of columns (a), (b), and (c). These entries represent the totals of lines 1 through 15 of each column. However, foundations that have assets of less than $5,000 per books at all times during the year need not complete lines 1 through 15 of column (c).

Tip: The column (c) amount is also entered on the entry space for Item I in the Heading section on page 1.

Line 17. Accounts payable and accrued expenses. Enter the total of accounts payable to suppliers and others and accrued expenses, such as salaries payable, accrued payroll taxes, and interest payable.

Line 18. Grants payable. Enter the unpaid portion of grants and awards the organization has made a commitment to pay other organizations or individuals, whether or not the commitments have been communicated to the grantees.

Line 19. Deferred revenue. Include revenue that the organization has received but not yet earned as of the balance sheet date under its method of accounting.

Line 20. Loans from officers, directors, trustees, and other disqualified persons. Enter the unpaid balance of loans received from officers, directors, trustees, and other disqualified persons. For loans outstanding at the end of the year, attach a schedule that shows (for each loan) the name and title of the lender and the information listed in items 2 through 10 of the instructions for line 6, earlier.

Line 21. Mortgages and other notes payable. Enter the amount of mortgages and other notes payable at the beginning and end of the year. Attach a schedule showing, as of the end of the year, the total amount of all mortgages payable and, for each nonmortgage note payable, the name of the lender and the other information specified in items 2 through 10 of the instructions for line 6, earlier. The schedule should also identify the relationship of the lender to any officer, director, trustee, foundation manager, or other disqualified person.

Line 22. Other liabilities. List and show the amount of each liability not reportable on lines 17 through 21. Attach a separate schedule if more space is needed.

Lines 24 Through 30. Net Assets or Fund Balances

FASB Accounting Standards Codification 958, Not-for-Prof- it Entities (ASC 958). ASC 958 provides standards for external financial statements certified by an independent accountant for certain types of nonprofit organizations.

While some states may require reporting according to ASC 958, the IRS does not. However, a Form 990-PF return prepared according to ASC 958 will be acceptable to the IRS.

Foundations that follow ASC 958. Check the box above line 24, and complete lines 24 and 25 and lines 29 and 30. Classify and report net assets in two groups in Part II (net assets without donor restrictions and net assets with donor restrictions) based on the existence or absence of donor-imposed restrictions and the nature of those restrictions. Enter the sum of the two classes of net assets on line 29. On line 30, add the amounts on lines 23 and 29 to show total liabilities and net assets. The amount on line 16 must equal line 30.

Caution: Effective for reporting years ending after December 15, 2017, ASC 958-205, Not-for-Profit Entities—Presentation of Financial Statements (ASC 958), addresses reporting of donor-restricted endowments and board-designated (quasi) endowments. Further, many states have enacted the Uniform Prudent Management of Institutional Funds Act (UPMIFA). If the organization is subject to the UPMIFA or ASC 958, it may affect the amounts reported on lines 24 and 25.

Line 24. Net assets without donor restrictions. Enter the balances per books of the net assets without donor restrictions class of net assets. For years ending after December 15, 2017, ASC 958 refers to “unrestricted net assets” as “net assets without donor restrictions.” Net assets without donor restrictions are neither permanently restricted nor temporarily restricted by donor-imposed stipulations. All funds without donor-imposed restrictions must be classified as net assets without donor restrictions, regardless of the existence of any board designations or appropriations.

Line 25. Net assets with donor restrictions. This line can be used to show the balance per books of net assets with donorimposed restrictions that may require resources to be used after a specified date (time restrictions), or used for a specified purpose (purpose restrictions), or both.

Instructions for Form 990-PF (2025) 21

Foundations that don’t follow ASC 958. Check the box above line 26 and report account balances on lines 26 through 30. Report capital stock, trust principal, or current funds on line 26. Report paid-in capital surplus or land, building, or equipment funds on line 27. Report retained earnings, endowment, accumulated income, or other funds on line 28.

Line 26. Capital stock, trust principal, or current funds. For corporations, enter the balance per books for capital stock accounts. Show par or stated value (or for stock with no par or stated value, total amount received upon issuance) of all classes of stock issued and, as yet, uncanceled. For trusts, enter the amount in the trust principal or corpus account. For foundations continuing to use the fund method of accounting, enter the fund balances for the foundation's current restricted and unrestricted funds.

Line 27. Paid-in or capital surplus, or land, building, and equipment fund. Enter the balance per books for all paid-in capital in excess of par or stated value for all stock issued and uncanceled. If stockholders or others gave donations that the organization records as paid-in capital, include them here. Report any current-year donations you included on line 27 in Part I, line 1. The fund balance for the land, building, and equipment fund would be entered here.

Line 28. Retained earnings, accumulated income, endow- ment, or other funds. For corporations, enter the balance in the retained earnings, or similar account, minus the cost of any corporate treasury stock. For trusts, enter the balance per books in the accumulated income or similar account. For foundations using fund accounting, enter the total of the fund balances for the permanent and term endowment funds as well as balances of any other funds not reported on lines 26 and 27.

Line 29. Total net assets or fund balances. For foundations that follow FASB ASC 958, enter the total of lines 24 and 25. For all other foundations, enter the total of lines 26 through 28. Enter the beginning-of-year figure in Part III, line 1. The end-of-year figure in column (b) must agree with the figure in Part III, line 6.

Line 30. Total liabilities and net assets/fund balances. Enter the total of lines 23 and 29. This amount must equal the amount for total assets reported on line 16 for both the beginning and end of the year.