VARUN AND AMEETA GOSAIN FOUNDATION: Form 990PF, tax year 2022

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Organization
VARUN AND AMEETA GOSAIN FOUNDATION (EIN 46-1429291)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-05-15
IRS object ID
202331359349101493
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-05-15T07:21:27-07:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN921356807PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Taxzia PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1485C US Highway 1 South Suite 100-4AddressLine1Txt
CityIselinCityNm
State AbbreviationNJStateAbbreviationCd
ZIP088303037ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN461429291EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Varun & Ameeta Gosain FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlVARUBusinessNameControlTxt
Phone9147255475PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1161 Mamaroneck RdAddressLine1Txt
CityScarsdaleCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10583ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonVarun GosainPersonNm
Person TitlePresidentPersonTitleTxt
Signature2023-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstVarunPersonFirstNm
Person LastGosainPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBaljeet SinghPreparerPersonNm
PTINP01253724PTIN
Phone7327123700PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,033,835FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$26InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$26InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$26InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$42,066DividendsRevAndExpnssAmt
Dividends Net Invst Incm$42,066DividendsNetInvstIncmAmt
Dividends Adj Net Incm$42,066DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$287NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$44,000GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$287CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$287NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$42,379TotalRevAndExpnssAmt
Total Net Invst Incm$42,379TotalNetInvstIncmAmt
Total Adj Net Incm$42,379TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$1,469OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$43TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$1,512TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$10,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$10,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$11,512TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$10,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$30,867ExcessRevenueOverExpensesAmt
Net Investment Income$42,379NetInvestmentIncomeAmt
Adjusted Net Income$42,379AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$9,145CashBOYAmt
Cash EOY$2,012CashEOYAmt
Cash EOYFMV$2,012CashEOYFMVAmt
Other Investments BOY$2,528,471OtherInvestmentsBOYAmt
Other Investments EOY$2,571,471OtherInvestmentsEOYAmt
Other Investments EOYFMV$1,031,823OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,537,616TotalAssetsBOYAmt
Total Assets EOY$2,573,483TotalAssetsEOYAmt
Total Assets EOYFMV$1,033,835TotalAssetsEOYFMVAmt
Loans From Officers BOY$184,000LoansFromOfficersBOYAmt
Loans From Officers EOY$189,000LoansFromOfficersEOYAmt
Total Liabilities BOY$184,000TotalLiabilitiesBOYAmt
Total Liabilities EOY$189,000TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$2,353,616NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$2,384,483NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$2,353,616TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,384,483TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,537,616TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,573,483TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,353,616TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$30,867ExcessRevenueOverExpensesAmt
Subtotal$2,384,483SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,384,483TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyUS Treasury BondPropertyDesc
How AcquiredPHowAcquiredCd
Acquired2022-08-08AcquiredDt
Sold2022-11-10SoldDt
Gross Sales Price$44,000GrossSalesPriceAmt
Cost Or Other Basis$43,713CostOrOtherBasisAmt
Gain Or Loss$287GainOrLossAmt
Gains Minus Excess Or Losses$287GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$287CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$287NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$589InvestmentIncomeExciseTaxAmt
Subtotal$589SubtotalAmt
Tax Based On Investment Income$589TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$22EsPenaltyAmt
Tax Due$611TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Varun GosainBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9147255475PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1161 Mamaroneck RdAddressLine1Txt
CityScarsdaleCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10583ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Varun Gosain
161 Mamaroneck RdScarsdaleNY10583President0.50$0
Ameeta Gosain
161 Mamaroneck RdScarsdaleNY10583Secretary0.50$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$894,512AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$18,457AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$912,969TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$912,969AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$13,695CashDeemedCharitableAmt
Net Vl Noncharitable Assets$899,274NetVlNoncharitableAssetsAmt
Minimum Investment Return$44,964MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$44,964MinimumInvestmentReturnAmt
Tax Based On Investment Income$589TaxBasedOnInvestmentIncomeAmt
Total Tax$589TotalTaxAmt
Distributable Before Adj$44,375DistributableBeforeAdjAmt
Distributable Before Ded$44,375DistributableBeforeDedAmt
Distributable As Adjusted$44,375DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$10,000ExpensesAndContributionsAmt
Qualifying Distributions$10,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$44,375DistributableAsAdjustedAmt
Undistributed Income PY$310UndistributedIncomePYAmt
Qualifying Distributions$10,000QualifyingDistributionsAmt
Applied To Year1$310AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$9,690AppliedToCurrentYearAmt
Undistributed Income CY$34,685UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

FieldValueIRS element (for citing)
Recipient PersonSCHWAB CHARITABLE FUNDRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1211 MAIN STREET FLOOR 10AddressLine1Txt
CitySAN FRANCISCOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94105ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNONERecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeSupport worthwhile organizations through the fundGrantOrContributionPurposeTxt
Amt$10,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$10,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$26RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$42,066RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$287RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$42,379RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$42,379TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number4LineNumberTxt
Relationship StatementThe objective of investments is to generate income that can be used in the support of worthwhile causes.RelationshipStatementTxt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (3 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
Schwab Value Advantage Money FundFMV$43,000$43,000
ARGENTINA GDP WARRANTSFMV$1,212,599$309,962
ARGENTINA GDP DISCOUNT BONDSFMV$1,315,872$678,861

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp

FieldValueIRS element (for citing)
Lender PersonVarun GosainLenderPersonNm
TitlePresidentTitleTxt
Loan Original$189,000LoanOriginalAmt
Balance Due$189,000BalanceDueAmt
Note2022-12NoteDt
Security Provided BorrowerNoneSecurityProvidedBorrowerTxt
Loan PurposeSupport foundation's cash flowLoanPurposeTxt
Lender ConsiderationNALenderConsiderationDesc

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryProfessional FeesCategoryTxt
Amt$1,469Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryIRS TaxCategoryTxt
Amt$43Amt

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