BAINS FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
BAINS FOUNDATION INC (EIN 27-0279346)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-09-22
IRS object ID
202342659349100904
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)
Return2023-09-22T17:01:09-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN113634713PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1P NAGARAJ & ASSOCIATES LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1525 NORTHERN BLVD STE 304AddressLine1Txt
CityGREAT NECKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP110215109ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN270279346EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BAINS FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlBAINBusinessNameControlTxt
Phone2018713607PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1154 VACCARO DRAddressLine1Txt
CityCRESSKILLCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07626ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMANJIT BAINSPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone2018713607PhoneNum
Signature2023-09-22SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstMANJITPersonFirstNm
Person LastBAINSPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonP NAGARAJPreparerPersonNm
PTINP00186214PTIN
Phone5168296245PhoneNum
Preparation2023-09-22PreparationDt
Self EmployedYes (X)SelfEmployedInd
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$498,461FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$47,500ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$478InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$478InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$478InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$7,977DividendsRevAndExpnssAmt
Dividends Net Invst Incm$7,448DividendsNetInvstIncmAmt
Dividends Adj Net Incm$7,977DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$2,913NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$75,041GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$191CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$58,868TotalRevAndExpnssAmt
Total Net Invst Incm$8,117TotalNetInvstIncmAmt
Total Adj Net Incm$8,455TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$4,534AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$75TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$4,609TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$27,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$27,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$32,109TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$27,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$26,759ExcessRevenueOverExpensesAmt
Net Investment Income$8,117NetInvestmentIncomeAmt
Adjusted Net Income$8,455AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$298,570CashBOYAmt
Cash EOY$1,556CashEOYAmt
Cash EOYFMV$1,556CashEOYFMVAmt
Other Assets BOY$192,175OtherAssetsBOYAmt
Other Assets EOY$502,355OtherAssetsEOYAmt
Other Assets EOYFMV$496,905OtherAssetsEOYFMVAmt
Total Assets BOY$490,745TotalAssetsBOYAmt
Total Assets EOY$503,911TotalAssetsEOYAmt
Total Assets EOYFMV$498,461TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$490,745NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$503,911NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$490,745TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$503,911TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$490,745TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$503,911TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$490,745TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$26,759ExcessRevenueOverExpensesAmt
Subtotal$517,504SubtotalAmt
Other Decreases$13,593OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$503,911TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$191CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$113InvestmentIncomeExciseTaxAmt
Subtotal$113SubtotalAmt
Tax Based On Investment Income$113TaxBasedOnInvestmentIncomeAmt
Tax Due$113TaxDueAmt

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
At Least5000 In AssetsfalseAtLeast5000InAssetsInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNAWebsiteAddressTxt
Individual With BooksMANJIT BAINSIndividualWithBooksNm
Phone2018713607PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1154 VACCARO DRIVEAddressLine1Txt
CityCRESSKULLCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07626ZIPCd
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
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

FieldValueIRS element (for citing)
PersonMANJIT BAINSPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1154 VACCARO DRIVEAddressLine1Txt
CityCRESSKULLCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07626ZIPCd
FieldValueIRS element (for citing)
TitleTRUSTEETitleTxt
Average Hrs Per Wk Devoted To Pos2.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Tax Based On Investment Income$113TaxBasedOnInvestmentIncomeAmt
Total Tax$113TotalTaxAmt
Distributable As Adjusted$0DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$27,500ExpensesAndContributionsAmt
Qualifying Distributions$27,500QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$11,000ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$7,000ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$9,191ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$12,500ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$28,500ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$68,191TotalExcessDistributionCyovAmt
Qualifying Distributions$27,500QualifyingDistributionsAmt
Remaining Distri From Corpus$27,500RemainingDistriFromCorpusAmt
Total Corpus$95,691TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$11,000ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$84,691ExcessDistriCyovToNextYrAmt
Excess From Year4$7,000ExcessFromYear4Amt
Excess From Year3$9,191ExcessFromYear3Amt
Excess From Year2$12,500ExcessFromYear2Amt
Excess From Year1$28,500ExcessFromYear1Amt
Excess From Current Year$27,500ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonTAX PAYERRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1154 CACCARO DRAddressLine1Txt
CityCRESSKILLCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07626ZIPCd
FieldValueIRS element (for citing)
Recipient Phone2018713607RecipientPhoneNum

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
GURUNANAK MISSION
138 BAUER DRIVEOAKLANDNJ07436NONEDONATION$5,000
ECEF
PO BOX 821MANALAPANNJ07726NONEESOPHAGEAL CANCER RESEARCH$2,500
CHILDRENS HOPE INDIA
7 EDGEMERE DRIVEALBERTSONNY11507NONEEDUCATION SHELTER FOR CHILDREN$2,500
AATS FOUNDATION
800 CUMMINGS CENTERBEVERLYMA01915NONEDONATION$10,000
PRATHAM USA
9703 RICHMOND AVEHOUSTONTX77042NONEDONATION$5,000
GURUNANAK MISSION
138 BAUER DRIVEOAKLANDNJ07436NONEDONATION$2,500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$27,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$478RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$7,977RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,913RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$11,368RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$11,368TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (4 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionInd
BAINS CHARITABLE LEAD TRUST I
1154 VACCARO DRIVECRESSKILLNJ07626$15,000Yes (X)
BAINS CHARITABLE LEAD TRUST II
2154 VACCARO DRIVECRESSKILLNJ07626$15,000Yes (X)
BAINS CHARITABLE LEAD TRUST III
3154 VACCARO DRIVECRESSKILLNJ07626$12,500Yes (X)
DARSHAN KAUR BAINS CHAR LEAD IV
4154 VACCARO DRIVECRESSKILLNJ07626$5,000Yes (X)

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNT FEESCategoryTxt
Amt$4,534Amt

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (2 entries)

AssetAssetDescAcquiredAcquiredDtHow AcquiredHowAcquiredTxtSoldSoldDtGross Sales PriceGrossSalesPriceAmtBasisBasisAmtTotal NetTotalNetAmt
FIDELITY2021-10PURCHASE2022-05$6,581$6,784-$203
FIDELITY2020-11PURCHASE2022-02$68,269$65,344$2,925

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp (2 entries)

DescDescBOY Book ValueBOYBookValueAmtEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ETF-8725$192,175$451,488$451,099
MUTUAL FUND$50,867$45,806

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTRESURYCategoryTxt
Amt$75Amt

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