BETA

VARUN AND AMEETA GOSAIN FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
VARUN AND AMEETA GOSAIN FOUNDATION (EIN 46-1429291)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-04-02
IRS object ID
202110929349100611
Schema version
2020v4.0
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)
Return2021-04-02T10:38:13-07:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN472202224PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CHUGH CPAS LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line115925 Carmenita RdAddressLine1Txt
CityCerritosCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90703ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN461429291EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1VARUN AND 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
Signature2021-04-02SignatureDt
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

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBaljeet SinghPreparerPersonNm
PTINP01253724PTIN
Phone5622291220PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$919,750FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$75,062DividendsRevAndExpnssAmt
Dividends Net Invst Incm$75,062DividendsNetInvstIncmAmt
Dividends Adj Net Incm$75,062DividendsAdjNetIncmAmt
Total Rev And Expnss$75,062TotalRevAndExpnssAmt
Total Net Invst Incm$75,062TotalNetInvstIncmAmt
Total Adj Net Incm$75,062TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$1,334OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$3,162TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$4,496TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$91,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$91,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$95,996TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$91,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$20,934ExcessRevenueOverExpensesAmt
Net Investment Income$75,062NetInvestmentIncomeAmt
Adjusted Net Income$75,062AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$33CashBOYAmt
Cash EOY$89CashEOYAmt
Cash EOYFMV$89CashEOYFMVAmt
Other Investments BOY$2,528,471OtherInvestmentsBOYAmt
Other Investments EOY$2,528,471OtherInvestmentsEOYAmt
Other Investments EOYFMV$919,661OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,528,504TotalAssetsBOYAmt
Total Assets EOY$2,528,560TotalAssetsEOYAmt
Total Assets EOYFMV$919,750TotalAssetsEOYFMVAmt
Loans From Officers BOY$63,010LoansFromOfficersBOYAmt
Loans From Officers EOY$84,000LoansFromOfficersEOYAmt
Total Liabilities BOY$63,010TotalLiabilitiesBOYAmt
Total Liabilities EOY$84,000TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$2,465,494NoDonorRstrNetAssestsBOYAmt
Tot Net Ast Or Fund Balances BOY$2,465,494TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,444,560TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,528,504TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,528,560TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,465,494TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$20,934ExcessRevenueOverExpensesAmt
Subtotal$2,444,560SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,444,560TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,043InvestmentIncomeExciseTaxAmt
Subtotal$1,043SubtotalAmt
Tax Based On Investment Income$1,043TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$18EsPenaltyAmt
Tax Due$1,061TaxDueAmt

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 LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledfalseForm990TFiledInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
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
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$1,015,867AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,230AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,017,097TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$1,017,097AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$15,256CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,001,841NetVlNoncharitableAssetsAmt
Minimum Investment Return$50,092MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$50,092MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,043TaxBasedOnInvestmentIncomeAmt
Total Tax$1,043TotalTaxAmt
Distributable Before Adj$49,049DistributableBeforeAdjAmt
Distributable Before Ded$49,049DistributableBeforeDedAmt
Distributable As Adjusted$49,049DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$91,500ExpensesAndContributionsAmt
Qualifying Distributions$91,500QualifyingDistributionsAmt
Adjusted Qualifying Distri$91,500AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$49,049DistributableAsAdjustedAmt
Undistributed Income PY$91,493UndistributedIncomePYAmt
Qualifying Distributions$91,500QualifyingDistributionsAmt
Applied To Year1$91,493AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$7AppliedToCurrentYearAmt
Undistributed Income CY$49,042UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerVARUN GOSAINContributingManagerNm
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$91,500Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$91,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$75,062UnrelatedBusinessTaxblIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$75,062UnrelatedBusinessTaxblIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$75,062TotalIncomeProducingActyAmt

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 (2 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
ARGENTINA GDP WARRANTSFMV$1,212,599$33,226
ARGENTINA GDP DISCOUNT BONDSFMV$1,315,872$886,435

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryProfessional FeesCategoryTxt
Amt$1,334Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTaxesCategoryTxt
Amt$3,162Amt

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