Bound Lotus Foundation Inc: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
Bound Lotus Foundation Inc (EIN 47-1717577)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-07-20
IRS object ID
202222019349100602
Schema version
2021v4.2
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)
Return2022-07-20T08:39:08-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1FTI Consulting IncBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1750 Third AvenueAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10017ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN471717577EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Bound Lotus Foundation IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% MAHANKIRN KHALSAInCareOfNm
Business Name ControlBOUNBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1195 S Beverly Drive Suite405AddressLine1Txt
CityBeverly HillsCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90210ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMAHANKIRN KHALSAPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone9733640400PhoneNum
Signature2022-06-30SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstMAHANKIRNPersonFirstNm
Person LastKHALSAPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMark HalpernPreparerPersonNm
PTINP00395457PTIN
Phone9733640400PhoneNum
Preparation2022-06-30PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$170FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$13,884ContriRcvdRevAndExpnssAmt
Total Rev And Expnss$13,884TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Legal Fees Rev And Expnss$2,500LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm$0LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm$0LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl$2,500LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$5,000AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$0AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$0AccountingFeesAdjNetIncmAmt
Accounting Fees Chrtbl Prps$5,000AccountingFeesChrtblPrpsAmt
Tot Opr Expenses Rev And Expnss$7,500TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$0TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$7,500TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$30,990ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$30,990ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$38,490TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$0TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$38,490TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$24,606ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$36,644CashBOYAmt
Cash EOY$170CashEOYAmt
Cash EOYFMV$170CashEOYFMVAmt
Total Assets BOY$36,644TotalAssetsBOYAmt
Total Assets EOY$170TotalAssetsEOYAmt
Total Assets EOYFMV$170TotalAssetsEOYFMVAmt
Loans From Officers BOY$11,868LoansFromOfficersBOYAmt
Loans From Officers EOY$0LoansFromOfficersEOYAmt
Total Liabilities BOY$11,868TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$24,776RetainedEarningBOYAmt
Retained Earning EOY$170RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$24,776TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$170TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$36,644TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$170TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$24,776TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$24,606ExcessRevenueOverExpensesAmt
Subtotal$170SubtotalAmt
Tot Net Ast Or Fund Balances EOY$170TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Tax Due$0TaxDueAmt

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 SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNYOrgReportOrRegisterStateCd
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

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1MAHANKIRN KHALSABusinessNameLine1Txt

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1195 S BEVERLY DRIVE SUITE 405AddressLine1Txt
CityBEVERLY HILLSCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90210ZIPCd
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
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
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)
PersonMAHANKIRN KHALSAPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1195 S BEVERLY DRIVEAddressLine1Txt
Address Line2SUITE 405AddressLine2Txt
CityBEVERLY HILLSCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90210ZIPCd
FieldValueIRS element (for citing)
TitleDirectorTitleTxt
Average Hrs Per Wk Devoted To Pos0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$34,648AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$34,648TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$34,648AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$520CashDeemedCharitableAmt
Net Vl Noncharitable Assets$34,128NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,706MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$1,706MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$1,706DistributableBeforeAdjAmt
Distributable Before Ded$1,706DistributableBeforeDedAmt
Distributable As Adjusted$1,706DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$38,490ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$38,490QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$1,706DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12019PriorYear1Yr
Prior Year22018PriorYear2Yr
Prior Year32017PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$6,187ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$2,865ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$10,954ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr1$6,821ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$26,827TotalExcessDistributionCyovAmt
Qualifying Distributions$38,490QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$1,706AppliedToCurrentYearAmt
Remaining Distri From Corpus$36,784RemainingDistriFromCorpusAmt
Total Corpus$63,611TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$6,187ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$57,424ExcessDistriCyovToNextYrAmt
Excess From Year4$2,865ExcessFromYear4Amt
Excess From Year3$10,954ExcessFromYear3Amt
Excess From Year1$6,821ExcessFromYear1Amt
Excess From Current Year$36,784ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
Meg Poe New York NY
175 W 12th StNew YorkNY10011GENERAL SUPPORT$3,024
Sky High Farm Inc
675 Hall Hill RdPine PlainsNY12567GENERAL SUPPORT$11,232
SHARING WITH YOU FOUNDATION INC
16610 POWELLS COVE BLVDWHITESTONENY11357GENERAL SUPPORT$23,734
coalition against pediatric pain
195 S BEVERLY DRIVEBEVERLY HILLSCA90210(Return of Contribution)-$7,000SUITE 405
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$30,990TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp
Int On Sav And Temp Cash InvstIntOnSavAndTempCashInvstGrp
Dividends And Interest From Sec DtlDividendsAndInterestFromSecDtl
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp
Subtotals Incm Producing ActySubtotalsIncmProducingActyGrp

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

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonvariousContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1Herrick Feinstein LLP 2 Park AvAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10016ZIPCd
FieldValueIRS element (for citing)
Total Contributions$13,884TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEECategoryTxt
Amt$5,000Amt
Disbursements Charitable Prps$5,000DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEECategoryTxt
Legal Fees$2,500LegalFeesAmt
Disbursements Charitable Prps$2,500DisbursementsCharitablePrpsAmt

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp

FieldValueIRS element (for citing)
Lender PersonLOAN FROM ED GELLERTLenderPersonNm
Loan Original$4,004LoanOriginalAmt
Balance Due$0BalanceDueAmt
Note2014-08NoteDt
Loan Maturity2021-12LoanMaturityDt
Loan PurposeTO FUND LEGAL AND FILING FEESLoanPurposeTxt

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