Need to determine amount to be distributed by Dec 31, 2007 --- The foundation was funded in March 06, it's on a calendar year, so the first year will be a short-year. Are there special rules when calculating the average monthly balances for a short year?
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According to the 990PF instructions (the source of all wisdom), when you determine the minimum investment return for line 6 of part X, you multiply 5% by the number of days in your year over 365.
The minimum investment return forms the basis for determining the distributable amount in the next section of the 990PF
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