ILA & DINESH PALIWAL FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
ILA & DINESH PALIWAL FOUNDATION (EIN 47-3873474)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-05-17
IRS object ID
202111379349101821
Schema version
2020v4.1
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)
Return2021-05-17T13:27:56-05:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1WITHUMSMITHBROWN PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11411 BROADWAY 9TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN473873474EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ILA & DINESH PALIWAL FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% C/O WITHUM SMITH & BROWNInCareOfNm
Business Name ControlILA&BusinessNameControlTxt
Phone2127519100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O WSB 1411 BROADWAY 23FLAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonILA PALIWALPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2127519100PhoneNum
Signature2021-05-17SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstILAPersonFirstNm
Person LastPALIWALPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonROBERT DEMMETT CPAPreparerPersonNm
PTINP00103809PTIN
Phone2127519100PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
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$10,634,912FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,000,250ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$85,647DividendsRevAndExpnssAmt
Dividends Net Invst Incm$85,647DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$723,315NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$15,843,554GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$723,315CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$2,809,212TotalRevAndExpnssAmt
Total Net Invst Incm$808,962TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$467TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$250TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$18OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$18OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$485TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$18TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$250TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$455,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$455,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$455,485TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$18TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$455,250TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$2,353,727ExcessRevenueOverExpensesAmt
Net Investment Income$808,944NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$3,130,721SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,201,578SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,201,578SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$3,499,103CorporateStockBOYAmt
Corporate Stock EOY$7,781,973CorporateStockEOYAmt
Corporate Stock EOYFMV$9,433,334CorporateStockEOYFMVAmt
Total Assets BOY$6,629,824TotalAssetsBOYAmt
Total Assets EOY$8,983,551TotalAssetsEOYAmt
Total Assets EOYFMV$10,634,912TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$6,629,824RetainedEarningBOYAmt
Retained Earning EOY$8,983,551RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$6,629,824TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$8,983,551TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$6,629,824TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$8,983,551TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$6,629,824TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$2,353,727ExcessRevenueOverExpensesAmt
Subtotal$8,983,551SubtotalAmt
Tot Net Ast Or Fund Balances EOY$8,983,551TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyCHARLES SCHWAB ST - SEE ATTACHEDPropertyDesc
Acquired2020-01-01AcquiredDt
Sold2020-12-31SoldDt
Gross Sales Price$15,843,554GrossSalesPriceAmt
Cost Or Other Basis$15,120,239CostOrOtherBasisAmt
Gain Or Loss$723,315GainOrLossAmt
Gains Minus Excess Or Losses$723,315GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$723,315CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$11,244InvestmentIncomeExciseTaxAmt
Subtotal$11,244SubtotalAmt
Tax Based On Investment Income$11,244TaxBasedOnInvestmentIncomeAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Es Penalty$6EsPenaltyAmt
Tax Due$11,250TaxDueAmt

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 SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNYOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
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 Line1CO WITHUM SMITH & BROWNBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2127519100PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line11411 BROADWAY 23RD FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd
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
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 (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ILA PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTOR; PRESIDENT0.5$0$0$0
DINESH PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTOR; CHAIRMAN0.5$0$0$0
SHRIYA PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTOR; VICE PRESIDENT0.5$0$0$0
AASHEESH PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTOR; SECRETARY0.5$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$6,691,702AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,864,657AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$8,556,359TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$8,556,359AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$128,345CashDeemedCharitableAmt
Net Vl Noncharitable Assets$8,428,014NetVlNoncharitableAssetsAmt
Minimum Investment Return$421,401MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$421,401MinimumInvestmentReturnAmt
Tax Based On Investment Income$11,244TaxBasedOnInvestmentIncomeAmt
Total Tax$11,244TotalTaxAmt
Distributable Before Adj$410,157DistributableBeforeAdjAmt
Distributable Before Ded$410,157DistributableBeforeDedAmt
Distributable As Adjusted$410,157DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$455,250ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$455,250QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$455,250AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$410,157DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12018PriorYear1Yr
Prior Year22017PriorYear2Yr
Prior Year32016PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr3$3,093ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$778,196ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$449,248ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,230,537TotalExcessDistributionCyovAmt
Qualifying Distributions$455,250QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$410,157AppliedToCurrentYearAmt
Remaining Distri From Corpus$45,093RemainingDistriFromCorpusAmt
Total Corpus$1,275,630TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$1,275,630ExcessDistriCyovToNextYrAmt
Excess From Year3$3,093ExcessFromYear3Amt
Excess From Year2$778,196ExcessFromYear2Amt
Excess From Year1$449,248ExcessFromYear1Amt
Excess From Current Year$45,093ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerILA AND DINESH PALIWALContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
MIAMI UNIVERSITY
501 E HIGH STOXFORDOH45056N/APCUNRESTRICTED$120,000
PRATHAM USA
9703 RICHMOND AVE SUITE 102HOUSTONTX77042N/APCUNRESTRICTED$50,000
ROBINHOOD
826 BROADWAY 9TH FLNEW YORKNY10003N/APCUNRESTRICTED$100,000
Children's Hope India
7 Edgemere DrAlbertsonNY11507N/APCUNRESTRICTED$50,000
1000 DREAMS FUND PALIWAL CLUB OF 100
1875 Connecticut Ave NW 11th FloWashingtonDC20009N/APCUNRESTRICTED$10,000
Charity Water Paper Science & Engineering
40 Worth St 330NEW YORKNY10013N/APCUNRESTRICTED$125,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$455,000TotalGrantOrContriPdDurYrAmt

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

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$85,647ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment Incm Part VIIOtherInvestmentIncmPartVIIGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$723,315ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$808,962ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$808,962TotalIncomeProducingActyAmt

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 PersonILA DINESH PALIWALContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line117 KHAKUM WOOD RDAddressLine1Txt
CityGREENWICHCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06831ZIPCd
FieldValueIRS element (for citing)
Total Contributions$2,000,250TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockINVESTMENT - EQUITIESStockNm
EOY Book Value$7,781,973EOYBookValueAmt
EOYFMV$9,433,334EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescADR FEESDesc
Revenue And Expenses Per Books$18RevenueAndExpensesPerBooksAmt
Net Investment Income$18NetInvestmentIncomeAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonILA DINESH PALIWALPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line117 KHAKUM WOOD RDAddressLine1Txt
CityGREENWICHCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06831ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
FEDERAL EXCISE TAXES$217
NY CHAR 500$250$250

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