0126 Publ 6038 (PDF)

Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/p6038.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

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The Statistics of Income (SOI) Division collects population data from charities, private foundations, and split-interest trusts that file Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code. This form is primarily used by organizations that file Form 990-PF, Return of Private Foundation to report information related to tax liabilities for certain activities, such as: failure to distribute a minimum amount for charitable purposes, excess executive compensation, investing in a manner that jeopardizes exempt purposes, engaging in certain lobbying and political activities, etc.

• In Calendar Year (CY) 2024, 3,099 returns were filed for $733.6 million reported in excise tax.

• $708.3 million was collected in CY 2024 for the tax on excess executive compensation (Schedule N), and on net investment income of private colleges and universities (Schedule O). These two categories made up 97.0% of total organizational taxes owed.

• The top five taxes reported by organizations in CY 2024 were those on excess executive compensation, net investment income of private colleges and universities, undistributed income, charitable remainder trusts’ unrelated taxable income, and taxable expenditures. These totaled $732.0 million.

• The tax on undistributed income had the most returns filed in CY 2024—1,515—which accounted for $14.1 million, or just 1.9%, of the total amount reported.

• While only 45 returns (1.5%) were filed in CY 2024 for net investment income of private colleges and universities, this accounted for $168.8 million, or 23%, of the total amount reported.

Excise Taxes Reported by Charities, Private Foundations, and Split-Interest Trusts on Form 4720, Calendar Year 2024

[1] Includes organizational taxes reported by charities, private foundations, and split-interest trusts. Data on individual taxes reported by foundation managers, officers, directors, trustees, and other individuals are not available.

Tax on excess

executive compensation

(Schedule N)

Tax on net investment income

of private colleges

and universities

(Schedule O)

Excise Taxes Reported by Charities, Private Foundations and Split-Interest Trusts, Calendar Years 2020–2024 [1]

Amount

Number of Returns

$1.25B $1.00B

$0.50B $0.25B

2,500

0 2020 2021 2022 2023 2024

Top 5 Excise Taxes Reported by Charities, Private Foundations, and Split-Interest Trusts,

$14,101,936

Tax on taxable expenditures $1,606,533

trusts' unrelated taxable income $7,964,410

For more information on excise taxes go to:

Organization

Tax Statistics Publication 6038 (Rev. 1–2026) Catalog Number 95408C Department of the Treasury Internal Revenue Service www.irs.gov