AGENCY: Attorney General's Office. Civil Department. Tax and Financial Services Division

SERIES: 8535
TITLE: Tax returns of private foundations
DATES: i 1985-2010.
ARRANGEMENT: Chronological.

DESCRIPTION: Federal law requires that private foundations submit a copy of their tax return to the Attorneys General offices of states where they have business interests or concerns. These tax returns indicate the sources of income for the foundations and their respective recipients. These documents include an analysis of revenues and expenses; statements regarding activities of the foundation; information regarding contributions, grants, gifts, loans, and scholarship programs; sources of the funds; recipients of the funds; restrictions on awards; names, addresses, and telephone numbers of persons accepting applications for the funds; capital gains or losses for tax on investment income; the names, addresses, salary, hours worked, and amounts used from an expense account; as well as contributions to the employee benefit plans of the individuals working for the foundation paid over $30,000 annually.

RETENTION

Permanent. Retain for 6 year(s)

DISPOSITION

Transfer to Archives.

RETENTION AND DISPOSITION AUTHORIZATION

Retention and disposition for this series were specifically approved by the State Records Committee.

APPROVED: 11/1986

FORMAT MANAGEMENT

Paper: Retain in Office for 1 year and then transfer to State Records Center. Retain in State Records Center for 5 years and then transfer to State Archives with authority to weed.

APPRAISAL

Administrative Legal

USC 26-2033 and CFR 26-1.6033-3 (1990), specify that copies of these tax returns must be submitted to the Attorney General in each state where the foundation has significant interests. USC 26-6104(b), requires that these returns be open for public inspection.

PRIMARY DESIGNATION

Public

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