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LEAGUE OF VAISHNAVA ENTREPRENUERS INC: Form 990EZ, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
LEAGUE OF VAISHNAVA ENTREPRENUERS INC (EIN 85-2401176)
Tax period
2021-01-01 to 2021-12-31
Filed
2023-11-07
IRS object ID
202343109349202434
Schema version
2021v4.1
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)
Return2023-11-07T02:00:02ZReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN118589443PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Paul F Tomkins EsqBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1257 Turnpike RoadAddressLine1Txt
Address Line20AddressLine2Txt
CitySouthboroughCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01772ZIPCd
FieldValueIRS element (for citing)
Return Type990EZReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN852401176EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LEAGUE OF VAISHNAVA ENTREPRENEURS INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlLEAGBusinessNameControlTxt
Phone7742580082PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1257 Turnpike RoadSUITE 220AddressLine1Txt
CitySouthboroughCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01772ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKrishna IkaPersonNm
Person Title0PersonTitleTxt
Phone6072211279PhoneNum
Signature2023-11-07SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstKrishnaPersonFirstNm
Person LastIkaPersonLastNm

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonPaul TomkinsPreparerPersonNm
PTINP02435028PTIN
Phone6072211279PhoneNum
Preparation2023-11-07PreparationDt
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-EZ IRS990EZ

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Initial ReturnYes (X)InitialReturnInd
Amended ReturnYes (X)AmendedReturnInd
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Gross Receipts$192,004GrossReceiptsAmt
Info In Schedule O Part IYes (X)InfoInScheduleOPartIInd
Contributions Gifts Grants Etc$192,000ContributionsGiftsGrantsEtcAmt
Program Service Revenue$0ProgramServiceRevenueAmt
Membership Dues$0MembershipDuesAmt
Investment Income$4InvestmentIncomeAmt
Sale Of Assets Gross$0SaleOfAssetsGrossAmt
Cost Or Other Basis Expense Sale$0CostOrOtherBasisExpenseSaleAmt
Gain Or Loss From Sale Of Assets$0GainOrLossFromSaleOfAssetsAmt
Gaming Gross Income$0GamingGrossIncomeAmt
Fundraising Gross Income$0FundraisingGrossIncomeAmt
Special Events Direct Expenses$0SpecialEventsDirectExpensesAmt
Special Events Net Income Loss$0SpecialEventsNetIncomeLossAmt
Gross Sales Of Inventory$0GrossSalesOfInventoryAmt
Cost Of Goods Sold$0CostOfGoodsSoldAmt
Gross Profit Loss Sls Of Invntry$0GrossProfitLossSlsOfInvntryAmt
Other Revenue Total$0OtherRevenueTotalAmt
Total Revenue$192,004TotalRevenueAmt
Grants And Similar Amounts Paid$92,000GrantsAndSimilarAmountsPaidAmt
Benefits Paid To Or For Members$0BenefitsPaidToOrForMembersAmt
Salaries Other Comp Empl Bnft$0SalariesOtherCompEmplBnftAmt
Fees And Other Pymt To Ind Cntrct$0FeesAndOtherPymtToIndCntrctAmt
Occupancy Rent Utlts And Maint$0OccupancyRentUtltsAndMaintAmt
Printing Publications Postage$0PrintingPublicationsPostageAmt
Other Expenses Total$140OtherExpensesTotalAmt
Total Expenses$92,140TotalExpensesAmt
Excess Or Deficit For Year$99,864ExcessOrDeficitForYearAmt
Net Assets Or Fund Balances BOY$0NetAssetsOrFundBalancesBOYAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Net Assets Or Fund Balances EOY$99,864NetAssetsOrFundBalancesEOYAmt

Cash Savings And Investments CashSavingsAndInvestmentsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$99,864EOYAmt

Land And Buildings LandAndBuildingsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Other Assets Total Detail OtherAssetsTotalDetail

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Form990 Total Assets Form990TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$99,864EOYAmt

Sum Of Total Liabilities SumOfTotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Net Assets Or Fund Balances NetAssetsOrFundBalancesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$99,864EOYAmt
FieldValueIRS element (for citing)
Primary Exempt PurposeThe primary exempt purpose of LOVE is to expand and support the mission of the one Supreme Lord who revealed humanitys common global heritage of Proto-Vedic spiritualism and the highest goal of life - love of God through the teachings of His Divine Grace AC Bhaktivedanta Swami Prabhupada the founder of the International Society for Krishna Consciousness ISKCON LOVE is organized as a nonprofit corporation under the Florida Not-for-Profit Corporation Act Florida Statutes Chapter 617 and for charitable religious educational and scientific purposes including for such purposes the making of distributions to organizations that qualify as exempt organizations under section 501c3 of the Internal Revenue Code or the corresponding section of any future federal tax codePrimaryExemptPurposeTxt

Program Srvc Accomplishment ProgramSrvcAccomplishmentGrp

FieldValueIRS element (for citing)
Description Program Srvc AccomThe League of Vaishnava Entrepreneurs LOVE was formed in the State of Florida and was approved as a 501C3 organization in 2020 The purpose of the nonprofit is as follows Nonprofit Purpose - LOVE is organized exclusively for charitable religious educational and scientific purposes including for such purposes the making of distributions to organizations that qualify as exempt organizations under section 501c3 of the Internal Revenue Code or the corresponding section of any future federal tax code Specific Purpose- Pursuant to its August 7 2020 Bylaws the specific objectives and purposes LOVE include creating educational media such as books and for social outreach programs like feeding the hungry and comforting the homeless as well as establishing retreat centers to give peaceful sanctuary to the affluent who are afflicted by stress and depression The purpose of these outreach programs being to establish human beings harmony with nature and their loving connection with the Supreme God and Goddess for the making of distributions to organizations that qualify as exempt organizations under section 501c3 of the United States Internal Revenue Code or future synonymous tax code for which such organizations are also organized exclusively for charitable religious educational and scientific purposes under section 501c3 of the United States Internal Revenue Code All spiritual objectives of the Organization shall be derived from the spiritual authority of the Vedas Vedic literature and an unbroken link of spiritual teachers called the Parampara which date back over 5000 years At the time of our formation LOVE wrote to the IRS and asked that they expedite their nonprofit application Within said correspondence LOVE advised that the organization was anticipating a substantial grant to be utilized to acquire real property in furtherance of LOVEs stated mission In 2021 and 2022 LOVE received gifts from the American Gift Fund FBO Krishna Ika Gift Fund In large part due to the COVID epidemic and aftermath thereof the organization was not able to move forward with acquiring property as it had hoped to when it was formed With the explicit permission of the private foundation donor and consistent with its bylaws and stated charitable purposes the organization distributed collected funds to another religious and charitable organization - the International Society for Krishna Consciousness ISKON As with LOVE ISKON is a legally recognized charitable organization operating within the traditional system of Parampara with stated goals of providing education and food relief under their Food For Life Program See httpswwwiskconorg and httpswwwiskconorgactivitiesfood-relief-programphp Consistent with Revenue Procedure 2017-53 LOVEs tax counsel performed an Equivalency Determination of ISKON The written report of our tax counsel confirming that ISKCON demonstrates compliance with the requisites stipulated under Section 3033 of Rev Proc 2017-53 and is therefore determined to be equivalent to a domestic church for US tax Purposes is available upon request to any past or prospective donorsDescriptionProgramSrvcAccomTxt
Grants And Allocations$92,000GrantsAndAllocationsAmt
Foreign GrantsYes (X)ForeignGrantsInd
FieldValueIRS element (for citing)
Total Program Service Expenses$0TotalProgramServiceExpensesAmt

Officer Director Trustee Empl OfficerDirectorTrusteeEmplGrp (3 entries)

TitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
IKA KRISHNA
President1.00$0$0$0
DUNCAN GRAEME
Treasurer1.00$0$0$0
IKA PRASUNA
Vice President0.25$0$0$0
FieldValueIRS element (for citing)
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Chg Made To Orgnzng Doc Not RptfalseChgMadeToOrgnzngDocNotRptInd
Organization Had UBIfalseOrganizationHadUBIInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Direct Indirect Pltcl Expend$0DirectIndirectPltclExpendAmt
Form1120 Pol FiledfalseForm1120PolFiledInd
Made Loans To From OfficersfalseMadeLoansToFromOfficersInd
Initiation Fees And Cap Contri$0InitiationFeesAndCapContriAmt
Gross Receipts For Public Use$0GrossReceiptsForPublicUseAmt
Tax Imposed Under IRC4911$0TaxImposedUnderIRC4911Amt
Tax Imposed Under IRC4912$0TaxImposedUnderIRC4912Amt
Tax Imposed Under IRC4955$0TaxImposedUnderIRC4955Amt
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
Tax Imposed On Organization Mgr$0TaxImposedOnOrganizationMgrAmt
Tax Reimbursed By Organization$0TaxReimbursedByOrganizationAmt
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonManjunath RajaramPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1257 Turnpike RoadAddressLine1Txt
CitySouthboroughCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01772ZIPCd
FieldValueIRS element (for citing)
Phone3042804772PhoneNum
FieldValueIRS element (for citing)
Foreign Financial AccountfalseForeignFinancialAccountInd
Foreign OfficefalseForeignOfficeInd
Donor Advised FndsfalseDonorAdvisedFndsInd
Operate HospitalfalseOperateHospitalInd
Tanning Services ProvidedfalseTanningServicesProvidedInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Transaction With Control EntfalseTransactionWithControlEntInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
School OperatingfalseSchoolOperatingInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Part VI Of Comp Of Hghst Pd EmplNONEPartVIOfCompOfHghstPdEmplTxt
Part VI Hghst Pd Cntrct Prof SrvcNONEPartVIHghstPdCntrctProfSrvcTxt
Filed Schedule AYes (true)FiledScheduleAInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind
Supported Organizations0SupportedOrganizationsCnt

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year$192,000CurrentTaxYearAmt
Total$192,000TotalAmt
FieldValueIRS element (for citing)
Tax Rev Levied Orgnztnl Bnft170TaxRevLeviedOrgnztnlBnft170Grp
Govt Furn Srvc Fclts Vl170GovtFurnSrvcFcltsVl170Grp

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year$192,000CurrentTaxYearAmt
Total$192,000TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$192,000SubstantialContributorsTotAmt
Public Support Total170$0PublicSupportTotal170Amt
Gross Investment Income170GrossInvestmentIncome170Grp
Unrelated Business Net Incm170UnrelatedBusinessNetIncm170Grp
Other Income170OtherIncome170Grp
Total Support$192,000TotalSupportAmt
Gross Receipts Rltd Activities$0GrossReceiptsRltdActivitiesAmt
First5 Years170Yes (X)First5Years170Ind
Public Support CY1700PublicSupportCY170Pct
Public Support PY1700PublicSupportPY170Pct
Gifts Grants Contris Rcvd509GiftsGrantsContrisRcvd509Grp
Gross Receipts AdmissionsGrossReceiptsAdmissionsGrp
Gross Receipts Non Unrlt BusGrossReceiptsNonUnrltBusGrp
Tax Rev Levied Orgnztnl Bnft509TaxRevLeviedOrgnztnlBnft509Grp
Govt Furn Srvc Fclts Vl509GovtFurnSrvcFcltsVl509Grp
Total509Total509Grp
Amounts Rcvd Dsqlfy PersonAmountsRcvdDsqlfyPersonGrp
Substantial Contributors AmtSubstantialContributorsAmtGrp
Subst And Dsqlfy Prsns TotSubstAndDsqlfyPrsnsTotGrp
Public Support Total509$0PublicSupportTotal509Amt
Gross Investment Income509GrossInvestmentIncome509Grp
Post1975 UBTIPost1975UBTIGrp
Investment Income And UBTIInvestmentIncomeAndUBTIGrp
Net Income From Other UBINetIncomeFromOtherUBIGrp
Other Income509OtherIncome509Grp

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$0CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$0CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$0CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$0CurrentTaxYearMinus1YearAmt
Current Tax Year$0CurrentTaxYearAmt
Total$0TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090PublicSupportCY509Pct
Public Support PY5090PublicSupportPY509Pct
Investment Income CY0InvestmentIncomeCYPct
Investment Income PY0InvestmentIncomePYPct
Form990 Sch A Type3 Func IntForm990SchAType3FuncIntGrp

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule O:FormAndLineReferenceDesc
Explanation1.10 - Grants and similar amounts paid - $92,000 (10,000 ISKCON Farmington Hills (Iskcon Michigan, Inc.; $82,000.00 ISKCON International) 1.16 Other Expenses - $140.00 Bank Fees paid for account x781ExplanationTxt

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