Page:United States Statutes at Large Volume 83.djvu/549

 83 STAT.]

PUBLIC LAW 9 1 - 1 7 2 - D E C. 30, 1969

521

"(6) the names and addresses of its foundation managers (within the meaning of section 4946(b)(1)) and highly compensated employees, and "(7) the compensation and other payments made during the year to each individual described in paragraph (6)." (3) A N N U A L REPORT.—Part III of subchapter A of chapter 61 (relating to information returns) is amended by adding after oe^s*^' '^^ subpart C, the following new subpart: 6053. "Subpart D—Information Concerning Private Foundations "Sec. 6056. Annual reports by private foundations. "SEC. 6056. ANNUAL REPORTS BY PRIVATE FOUNDATIONS.

" (a) GENERAL.—The foundation managers (within the meaning of section 4946(b)) of every organization which is a private foundation (within the meaning of section 509(a)) having at least $5,000 of assets at any time during a taxable year shall file an annual report as of the close of the taxable year at such time and in such manner as the Secretary or his delegate may by regulations prescribe. " (b) CONTENTS.—The foundation managers of the private foundation shall set forth in the annual report required under subsection (a) the following information: " (1) its gross income for the year, " (2) its expenses attributable to such income and incurred within the year, "(3) its disbursements (including administrative expenses) within the year, " (4) a balance sheet showing its assets, liabilities, and net worth as of the beginning of the year, " (5) an itemized statement of its securities and all other assets at the close of the year, showing both book and market value, " (6) the total of the contributions and gifts received by it during the year, "(7) an itemized list of all grants and contributions made or approved for future payment during the year, showing the amount of each such grant or contribution, the name and address of the recipient, any relationship between any individual recipient and the foundation's managers or substantial contributors, and a concise statement of the purpose of each such grant or contribution, " (8) the address of the principal office of the foundation and (if different) of the place where its books and records are maintained, "(9) the names and addresses of its foundation managers (within the meaning of section 4946(b)), and "(10) a list of all persons described in paragraph (9) that are substantial contributors (within the meaning of section 507 (d)(2)) or that own 10 percent or more of the stock of any corporation of which the foundation owns 10 percent or more of the stock, or corresponding interests in partnerships or other entities, in which the foundation has a 10 percent or greater interest. "(c) FORM,—The annual report may be prepared in printed, typewritten, or any other legible form the foundation chooses. The Secretary or his delegate shall provide forms which may be used by a private foundation for purposes of the annual report.

^"'®' P- S'^. ^"*®' P- '*-'^-

^"'e, p. 492.

" (d) SPECIAL RULES.—

"(1) The annual report required to be filed under this section is in addition to and not in lieu of the information required to be filed under section 6033 (relating to returns by exempt organizations) and shall be filed at the same time as such information.

ofi'^rl^^^n'^V 26 ""^''"'" ^^ 'u s e 6033.

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