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LATIKA & RAJIV JAIN FOUNDAITON: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
LATIKA & RAJIV JAIN FOUNDAITON (EIN 47-2378768)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-12
IRS object ID
202133169349101648
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)
Return2021-11-12T08:51:44-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1FOUNDATION SOURCEBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE HOLLOW LN STE 212AddressLine1Txt
CityLAKE SUCCESSCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN472378768EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Latika & Rajiv Jain FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlLATIBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRAJIV JAINPersonNm
Person TitleVICE PRESIDENTPersonTitleTxt
Phone8008391754PhoneNum
Signature2021-10-31SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstRAJIVPersonFirstNm
Person LastJAINPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum

Additional Filer Information AdditionalFilerInformation

FieldValueIRS element (for citing)
Trusted CustomerTrustedCustomerGrp
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$14,909,680FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$5,307InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$5,307InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$68,320DividendsRevAndExpnssAmt
Dividends Net Invst Incm$68,320DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$1,134,089NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$2,800,690GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$1,626,639CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,207,716TotalRevAndExpnssAmt
Total Net Invst Incm$1,700,266TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$2,844TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$38,155OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$30OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$38,125OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$40,999TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$30TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$38,125TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$248,502ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$248,502ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$289,501TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$30TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$286,627TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$918,215ExcessRevenueOverExpensesAmt
Net Investment Income$1,700,236NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$75,984SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$2,660,800SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$2,660,800SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$7,151,693CorporateStockBOYAmt
Corporate Stock EOY$5,485,092CorporateStockEOYAmt
Corporate Stock EOYFMV$12,248,880CorporateStockEOYFMVAmt
Total Assets BOY$7,227,677TotalAssetsBOYAmt
Total Assets EOY$8,145,892TotalAssetsEOYAmt
Total Assets EOYFMV$14,909,680TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$7,227,677RetainedEarningBOYAmt
Retained Earning EOY$8,145,892RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$7,227,677TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$8,145,892TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$7,227,677TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$8,145,892TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$7,227,677TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$918,215ExcessRevenueOverExpensesAmt
Subtotal$8,145,892SubtotalAmt
Tot Net Ast Or Fund Balances EOY$8,145,892TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPublicly-traded SecuritiesPropertyDesc
Gross Sales Price$2,800,690GrossSalesPriceAmt
Cost Or Other Basis$1,174,051CostOrOtherBasisAmt
Gain Or Loss$1,626,639GainOrLossAmt
Gains Minus Excess Or Losses$1,626,639GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$1,626,639CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$23,633InvestmentIncomeExciseTaxAmt
Subtotal$23,633SubtotalAmt
Tax Based On Investment Income$23,633TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$2,500EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$21,140ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$23,640TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$7OverpaymentAmt
Applied To ES Tax$7AppliedToESTaxAmt

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 StateDEOrgReportOrRegisterStateCd
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 Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Latika Jain
Foundation Source 501 Silverside RdWilmingtonDE198091377VP, Dir1.0$0$0$0
Rajiv Jain
Foundation Source 501 Silverside RdWilmingtonDE198091377Pres, Dir, Sec, Treas1.0$0$0$0
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$11,802,708AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,728,033AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$13,530,741TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$13,530,741AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$202,961CashDeemedCharitableAmt
Net Vl Noncharitable Assets$13,327,780NetVlNoncharitableAssetsAmt
Minimum Investment Return$666,389MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$666,389MinimumInvestmentReturnAmt
Tax Based On Investment Income$23,633TaxBasedOnInvestmentIncomeAmt
Total Tax$23,633TotalTaxAmt
Distributable Before Adj$642,756DistributableBeforeAdjAmt
Distributable Before Ded$642,756DistributableBeforeDedAmt
Distributable As Adjusted$642,756DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$286,627ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$286,627QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$0PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$286,627AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$642,756DistributableAsAdjustedAmt
Undistributed Income PY$263,628UndistributedIncomePYAmt
Prior Year12018PriorYear1Yr
Prior Year22017PriorYear2Yr
Prior Year32016PriorYear3Yr
Qualifying Distributions$286,627QualifyingDistributionsAmt
Applied To Year1$263,628AppliedToYear1Amt
Applied To Current Year$22,999AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$619,757UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerLatika JainContributingManagerNm
Contributing ManagerRajiv JainContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (17 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
AKSHAYA PATRA FOUNDATION USA
6800 OWENSMOUTH AVE STE 230CANOGA PARKCA91303N/APCCOVID-19 response Fund$5,000
ARPAN FOUNDATION INCORPORATED
556 N DIAMOND BAR BLVD STE 201-BDIAMOND BARCA91765N/APCParivaar Education Society$10,000
AUROVILLE INTERNATIONAL USA
PO BOX 188158SACRAMENTOCA95818N/APCGeneral & Unrestricted$10,000
CHILDRENS HOME SOCIETY OF FLORIDA
401 NE 4TH STFORT LAUDERDALEFL33301N/APCGeneral & Unrestricted$15,000
DIRECT RELIEF
6100 WALLACE BECKNELL RDSANTA BARBARACA93117N/APCGeneral & Unrestricted$5,000
FOOD FOR THE POOR INC
6401 LYONS RDCOCONUT CREEKFL33073N/APCGeneral & Unrestricted$5,000
GIVE2ASIA
2201 BROADWAY ST 4TH FLOAKLANDCA94612N/APCGOONJ India Project$10,000
HOLT INTERNATIONAL CHILDRENS SERVICES INC
250 COUNTRY CLUB RDEUGENEOR97401N/APCIndia Bangluru program$15,000
HOLT INTERNATIONAL CHILDRENS SERVICES INC
250 COUNTRY CLUB RDEUGENEOR97401N/APCVatsalya Program - Bangluru in India$25,000
INTERNATIONAL MAHAVIRA JAIN MISSION
65 MUD POND RDBLAIRSTOWNNJ07825N/APCGeneral & Unrestricted$5,001
JAIN SOCIETY OF METROPOLITAN WASHINGTON
PO BOX 4548SILVER SPRINGMD20914N/APCDigamber Jain Temple Fund$5,001
KARUNA-SHECHEN USA
237 W 35TH ST STE 1101NEW YORKNY10001N/APCGeneral & Unrestricted$20,000
MEDECINS SANS FRONTIERES USA INC - DOCTORS WITHOUT
PO BOX 5030HAGERSTOWNMD21741N/APCGeneral & Unrestricted$25,000
NYAYA HEALTH A NONPROFIT CORPORATION - POSSIBLE
99 WALL ST 4100NEW YORKNY10005N/APCGeneral & Unrestricted$10,000
PINE CREST PREPARATORY SCHOOL INC
1501 NE 62ND STFT LAUDERDALEFL33334N/APCFaculty Awards Program$57,500
SOUTH FLORIDA HINDU TEMPLE INC
13010 GRIFFIN RDSW RANCHESFL33330N/APCFarm share food distribution Fund$1,000
THE COOPERATIVE FEEDING PROGRAM INC
1 NW 33RD TERFT LAUDERDALEFL33311N/APCGeneral & Unrestricted$25,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$248,502TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$5,307ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$68,320ExclusionAmt
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$1,134,089ExclusionAmt
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$1,207,716ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$1,207,716TotalIncomeProducingActyAmt

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

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockVISA INCStockNm
EOY Book Value$5,485,092EOYBookValueAmt
EOYFMV$12,248,880EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmtNet Investment IncomeNetInvestmentIncomeAmt
Administrative Fees$38,100$38,100
Bank Charges$30$30
State or Local Filing Fees$25$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
990-PF Estimated Tax for 2020$2,500
990-PF Excise Tax for 2019$344

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