LEAGUE OF VAISHNAVA ENTREPRENUERS INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
LEAGUE OF VAISHNAVA ENTREPRENUERS INC (EIN 85-2401176)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-11-09
IRS object ID
202343139349305789
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)
Return2023-11-09T18:26:34-06:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt
Return Type990ReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN852401176EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1League of Vaishna EntrepreneursBusinessNameLine1Txt
Business Name Line2LOVEBusinessNameLine2Txt
FieldValueIRS element (for citing)
In Care Of% Krishna IkaInCareOfNm
Business Name ControlLEAGBusinessNameControlTxt
Phone3042804772PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1257 Turnpike RoadAddressLine1Txt
CitySouthboroughCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01772ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKRISHNA IKAPersonNm
Person TitlePresidentPersonTitleTxt
Phone3042804772PhoneNum
Signature2023-11-09SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstKRISHNAPersonFirstNm
Person LastIKAPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Authentication Assurance LevelAAL2AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd

Doing Business As Name DoingBusinessAsName

FieldValueIRS element (for citing)
Business Name Line1LOVEBusinessNameLine1Txt
FieldValueIRS element (for citing)
Principal OfficerKRISHNA IKAPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1257 Turnpike RoadAddressLine1Txt
CitySouthboroughCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01772ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$1,650,533GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2020FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionTo expand and support the mission of the one Supreme Lord through the teachings of His Divine Grace AC Bhaktivedanta Swami PraActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent2VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers2TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$192,004PYContributionsGrantsAmt
CY Contributions Grants$1,650,000CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income$533CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$192,004PYTotalRevenueAmt
CY Total Revenue$1,650,533CYTotalRevenueAmt
CY Grants And Similar Paid$1,750,175CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
CY Other Expenses$0CYOtherExpensesAmt
CY Total Expenses$1,750,175CYTotalExpensesAmt
PY Revenues Less Expenses$192,004PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$99,642CYRevenuesLessExpensesAmt
Total Assets BOY$99,863TotalAssetsBOYAmt
Total Assets EOY$222TotalAssetsEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$99,863NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$222NetAssetsOrFundBalancesEOYAmt
MissionCreating educational media, feeding poor, comforting homeless consistent with the spiritual authority of the Vedas for the making of distributions to organizations that qualify as exempMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$1,745,000ExpenseAmt
Grant$1,745,000GrantAmt
DescWith the explicit permission of the private foundation donor, and consistent with its bylaws and stated charitable purposes, the organization distributed collected funds to another charity - the International Society for Krishna Consciousness (ISKCON). As with L.O.V.E., ISKCON is a legally recognized charitable entity operating within the traditional system of Parampara, with stated stated goals of providing education and food relief. Consistent with Rev. Procedure 2017-53 LOVE tax counsel performed an equivalency determination with ISKCON determined to be equivalent to a domestic church for U.S. tax Purposes Determination is available upon request to past or prospective donors.Desc
Total Program Service Expenses$1,745,000TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesYes (true)ForeignActivitiesInd
More Than5000 K To OrgYes (true)MoreThan5000KToOrgInd
More Than5000 K To IndividualsYes (true)MoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Form990 T FiledfalseForm990TFiledInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Excs Tax Sect4951 Or4952 Or4953falseExcsTaxSect4951Or4952Or4953Ind
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member2IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonKRISHNA IKAPersonNm
Phone7742580082PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1257 Turnpike RoadAddressLine1Txt
CitySouthboroughCityNm
State AbbreviationMAStateAbbreviationCd
ZIP01772ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
KRISHNA IKA
Director and President3.0003.000Yes (X)Yes (X)$0$0$0
PRASUNA IKA
Director Vice Pres1.0001.000Yes (X)Yes (X)$0$0$0
GRAEME DUNCAN
Director Treasurer1.0001.000Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$1,650,000AllOtherContributionsAmt
Total Contributions$1,650,000TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$533TotalRevenueColumnAmt
Related Or Exempt Func Income$533RelatedOrExemptFuncIncomeAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,650,533TotalRevenueColumnAmt
Related Or Exempt Func Income$533RelatedOrExemptFuncIncomeAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$1,750,175TotalAmt
Program Services$1,750,175ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,750,175TotalAmt
Program Services$1,750,175ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$99,863BOYAmt
EOY$222EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$99,863BOYAmt
EOY$222EOYAmt

Total Liabilities TotalLiabilitiesGrp

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

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$99,863BOYAmt
EOY$222EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$99,863BOYAmt
EOY$222EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$99,863BOYAmt
EOY$222EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$99,863BOYAmt
EOY$222EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$99,642ReconcilationRevenueExpnssAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$192,000CurrentTaxYearMinus1YearAmt
Current Tax Year$1,650,000CurrentTaxYearAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$100SubstantialContributorsTotAmt
First5 Years170Yes (X)First5Years170Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year$1,750,175CurrentTaxYearAmt
Total$1,750,175TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year$1,750,175CurrentTaxYearAmt
Total$1,750,175TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$1,750,175PublicSupportTotal509Amt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year$1,750,175CurrentTaxYearAmt
Total$1,750,175TotalAmt
FieldValueIRS element (for citing)
Public Support CY5091.00000PublicSupportCY509Pct
Investment Income CY0.00000InvestmentIncomeCYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

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 D IRS990ScheduleD

FieldValueIRS element (for citing)
Disclosed Org Leg CtrlfalseDisclosedOrgLegCtrlInd
Disclosed For Charitable PrpsfalseDisclosedForCharitablePrpsInd
Written Policy MonitoringfalseWrittenPolicyMonitoringInd
Section170h Rqr StsfdfalseSection170hRqrStsfdInd
Solicited Assets SalefalseSolicitedAssetsSaleInd
Agent Trustee EtcfalseAgentTrusteeEtcInd
Incl Escrow Custodial Acct LiabfalseInclEscrowCustodialAcctLiabInd

Schedule F IRS990ScheduleF

FieldValueIRS element (for citing)
Grant Records MaintainedYes (true)GrantRecordsMaintainedInd

Grants To Org Outside US GrantsToOrgOutsideUSGrp

FieldValueIRS element (for citing)
RegionEast Asia and the PacificRegionTxt
Purpose Of GrantSupport LOVE and ISKCONPurposeOfGrantTxt
Cash Grant$1,750,175CashGrantAmt
Manner Of Cash DisbursementWire TransferMannerOfCashDisbursementTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt
Transfer To Foreign CorpfalseTransferToForeignCorpInd
Interest In Foreign TrustfalseInterestInForeignTrustInd
Foreign Corp OwnershipfalseForeignCorpOwnershipInd
Passive Foreign Investmest CofalsePassiveForeignInvestmestCoInd
Foreign PartnershipfalseForeignPartnershipInd
Boycott CountriesfalseBoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
P1, Ln 2Consistent with Revenue Procedure 2017-53, L.O.V.E. tax counsel
P1, Ln 2performed an Equivalency Determination of ISKON.
P1, Ln 2The written report of our tax counsel, confirming
P1, Ln 2that ISKCON demonstrates compliance with the requisites
P1, Ln 2stipulated under Section 3.03(3) of Rev. Proc. 2017-53

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Part VI Line 2Krishna Ika and Prasuna Ika are married.
Part VI Line 11bForm 990 will be made available to all Board Members and upon request of
Part VI Line 11bany donor or member of the general public.
Part VI Line 12cPer Bylaws, all employees, board members, and stakeholders are required
Part VI Line 12cto disclose any potential or existing conflicts of interest promptly.
Part VI Line 19All documents are provided to donors and are available upon
Part VI Line 19request by the general public.

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