BAINS FOUNDATION INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization: BAINS FOUNDATION INC (EIN 27-0279346)
Tax period: 2020-01-01 to 2020-12-31
Filed: 2021-04-29
IRS object ID: 202121199349100747
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
Form 990-PF
Accounting Fees Schedule
Gain Loss Sale Other Assets Sch
Other Assets Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2021-04-29T18:39:58-05:00	ReturnTs
Tax Period End	2020-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	113634713	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	P NAGARAJ & ASSOCIATES LLC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	525 NORTHERN BLVD STE 304	AddressLine1Txt
City	GREAT NECK	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	110215109	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2020-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	270279346	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	BAINS FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	BAIN	BusinessNameControlTxt
Phone	2018713607	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	154 VACCARO DR	AddressLine1Txt
City	CRESSKILL	CityNm
State Abbreviation	NJ	StateAbbreviationCd
ZIP	07626	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	MANJIT BAINS	PersonNm
Person Title	TRUSTEE	PersonTitleTxt
Phone	2018713607	PhoneNum
Signature	2021-04-29	SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	MANJIT	PersonFirstNm
Person Last	BAINS	PersonLastNm

Field	Value	IRS element (for citing)
SSN	XXX-XX-XXXX	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	P NAGARAJ	PreparerPersonNm
PTIN	P00186214	PTIN
Phone	5168296245	PhoneNum
Preparation	2021-04-29	PreparationDt
Self Employed	Yes (X)	SelfEmployedInd

Field	Value	IRS element (for citing)
Tax	2020	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$470,242	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$47,500	ContriRcvdRevAndExpnssAmt
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss	$2	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$2	InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm	$2	InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss	$3,152	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$3,152	DividendsNetInvstIncmAmt
Dividends Adj Net Incm	$3,152	DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss	$55,551	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$502,017	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$436	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$106,205	TotalRevAndExpnssAmt
Total Net Invst Incm	$3,590	TotalNetInvstIncmAmt
Total Adj Net Incm	$3,154	TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss	$2,541	AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss	$126	TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss	$2,667	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$12,500	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$12,500	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$15,167	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$12,500	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$91,038	ExcessRevenueOverExpensesAmt
Net Investment Income	$3,590	NetInvestmentIncomeAmt
Adjusted Net Income	$3,154	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$84,275	CashBOYAmt
Cash EOY	$62,466	CashEOYAmt
Cash EOYFMV	$62,466	CashEOYFMVAmt
Other Assets BOY	$287,567	OtherAssetsBOYAmt
Other Assets EOY	$397,896	OtherAssetsEOYAmt
Other Assets EOYFMV	$407,776	OtherAssetsEOYFMVAmt
Total Assets BOY	$371,842	TotalAssetsBOYAmt
Total Assets EOY	$460,362	TotalAssetsEOYAmt
Total Assets EOYFMV	$470,242	TotalAssetsEOYFMVAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY	$371,842	NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY	$460,362	NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY	$371,842	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$460,362	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$371,842	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$460,362	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$371,842	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$91,038	ExcessRevenueOverExpensesAmt
Subtotal	$462,880	SubtotalAmt
Other Decreases	$2,518	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$460,362	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Field	Value	IRS element (for citing)
Capital Gain Net Income	$436	CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$50	InvestmentIncomeExciseTaxAmt
Subtotal	$50	SubtotalAmt
Tax Based On Investment Income	$50	TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid	$50	ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits	$50	TotalPaymentsAndCreditsAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
At Least5000 In Assets	false	AtLeast5000InAssetsInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	TAXPAYER	IndividualWithBooksNm
Phone	2018713607	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	154 VACCARO DR	AddressLine1Txt
City	CRESSKILL	CityNm
State Abbreviation	NJ	StateAbbreviationCd
ZIP	07626	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

Field	Value	IRS element (for citing)
Person	MANJIT BAINS	PersonNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	154 VACCARO DRIVE	AddressLine1Txt
City	CRESSKULL	CityNm
State Abbreviation	NJ	StateAbbreviationCd
ZIP	07626	ZIPCd

Field	Value	IRS element (for citing)
Title	TRUSTEE	TitleTxt
Average Hrs Per Wk Devoted To Pos	000.00	AverageHrsPerWkDevotedToPosRt
Compensation	$0	CompensationAmt
Employee Benefit Program	$0	EmployeeBenefitProgramAmt
Expense Account Other Allwnc	$0	ExpenseAccountOtherAllwncAmt

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Description1	N/A	Description1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$0	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$0	TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast	$0	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$0	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$0	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$0	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Tax Based On Investment Income	$50	TaxBasedOnInvestmentIncomeAmt
Total Tax	$50	TotalTaxAmt
Distributable As Adjusted	$0	DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$12,500	ExpensesAndContributionsAmt
Qualifying Distributions	$12,500	QualifyingDistributionsAmt
Adjusted Qualifying Distri	$12,500	AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$0	DistributableAsAdjustedAmt
Excess Distribution Cyov Yr3	$11,000	ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2	$7,000	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$9,191	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$27,191	TotalExcessDistributionCyovAmt
Qualifying Distributions	$12,500	QualifyingDistributionsAmt
Remaining Distri From Corpus	$12,500	RemainingDistriFromCorpusAmt
Total Corpus	$39,691	TotalCorpusAmt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr	$39,691	ExcessDistriCyovToNextYrAmt
Excess From Year3	$11,000	ExcessFromYear3Amt
Excess From Year2	$7,000	ExcessFromYear2Amt
Excess From Year1	$9,191	ExcessFromYear1Amt
Excess From Current Year	$12,500	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Application Submission Info ApplicationSubmissionInfoGrp

Field	Value	IRS element (for citing)
Recipient Person	TAX PAYER	RecipientPersonNm

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	154 CACCARO DR	AddressLine1Txt
City	CRESSKILL	CityNm
State Abbreviation	NJ	StateAbbreviationCd
ZIP	07626	ZIPCd

Field	Value	IRS element (for citing)
Recipient Phone	2018713607	RecipientPhoneNum

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
GURUNANAK MISSION
138 BAUER DRIVE	OAKLAND	NJ	07436	NONE	DONATION	$7,500
ECEF
PO BOX 821	MANALAPAN	NJ	07726	NONE	ESOPHAGEAL CANCER RESEARCH	$2,500
CHILDRENS HOPE INDIA
7 EDGEMERE DRIVE	ALBERTSON	NY	11507	NONE	EDUCATION SHELTER FOR CHILDREN	$2,500

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$12,500	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$2	RelatedOrExemptFunctionIncmAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$3,152	RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$55,551	RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$58,705	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$58,705	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	ACCOUNT FEES	CategoryTxt
Amt	$2,541	Amt

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (4 entries)

AssetAssetDesc	AcquiredAcquiredDt	How AcquiredHowAcquiredTxt	SoldSoldDt	Gross Sales PriceGrossSalesPriceAmt	BasisBasisAmt	Total NetTotalNetAmt
KESTRA	2020-02	PURCHASE	2020-04	$76	$92	-$16
KESTRA	2019-02	PURCHASE	2020-04	$7	$7
FIDELITY	2020-02	PURCHASE	2020-04	$203,643	$188,791	$14,852
FIDELITY	2019-02	PURCHASE	2020-04	$297,855	$257,576	$40,279

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp (3 entries)

DescDesc	BOY Book ValueBOYBookValueAmt	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
EQUITIES AND OPTIONS	$73,721
MUTUAL FUNDS	$213,846
ETF-8725		$397,896	$407,776

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	TRESURY	CategoryTxt
Amt	$126	Amt

BAINS FOUNDATION INC: Form 990PF, tax year 2020

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Preparer Person PreparerPersonGrp

Form 990-PF IRS990PF

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Statements Regarding Acty StatementsRegardingActyGrp

Location Of Books US Address LocationOfBooksUSAddress

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

US Address USAddress

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Distributable Amount DistributableAmountGrp

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Undistributed Income UndistributedIncomeGrp

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

Recipient US Address RecipientUSAddress

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (4 entries)

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp (3 entries)

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

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