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Bound Lotus Foundation Inc: Form 990PF, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
Bound Lotus Foundation Inc (EIN 47-1717577)
Tax period
2019-01-01 to 2019-12-31
Filed
2020-11-11
IRS object ID
202023169349101582
Schema version
2019v5.1
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)
Return2020-11-11T13:19:44-06:00ReturnTs
Tax Period End2019-12-31TaxPeriodEndDt

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 Begin2019-01-01TaxPeriodBeginDt

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% EDWARD GELLERTInCareOfNm
Business Name ControlBOUNBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Herrick Feinstein LLP 2Park AvAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10016ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonEDWARD GELLERTPersonNm
Person TitleDirectorPersonTitleTxt
Phone9733640400PhoneNum
Signature2020-10-29SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMark HalpernPreparerPersonNm
PTINP00395457PTIN
Phone9733640400PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address67.245.2.166IPv4AddressTxt
FieldValueIRS element (for citing)
Federal Original Submission Id20403020203165000003FederalOriginalSubmissionId
Federal Original Submission Id2020-11-11FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id3CCCA1E9ABAF0FFF2012222047763C105C39FAADAtSubmissionCreationDeviceId
At Submission Filing Device Id7432A3A337B8C7321A02F718DE2AB40454BAA77FAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2021-04-22 16:20:28ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$41,542FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$3,483ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$3,483TotalRevAndExpnssAmt
Total Net Invst Incm$0TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Expenses Rev And Expnss$25OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$25OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$25TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$25TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$25TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$25TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$3,458ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$41,496CashBOYAmt
Cash EOY$41,542CashEOYAmt
Cash EOYFMV$41,542CashEOYFMVAmt
Total Assets BOY$41,496TotalAssetsBOYAmt
Total Assets EOY$41,542TotalAssetsEOYAmt
Total Assets EOYFMV$41,542TotalAssetsEOYFMVAmt
Loans From Officers BOY$11,868LoansFromOfficersBOYAmt
Loans From Officers EOY$11,868LoansFromOfficersEOYAmt
Total Liabilities BOY$11,868TotalLiabilitiesBOYAmt
Total Liabilities EOY$11,868TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$29,628RetainedEarningBOYAmt
Retained Earning EOY$29,674RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$29,628TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$29,674TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$41,496TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$41,542TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$29,628TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$3,458ExcessRevenueOverExpensesAmt
Subtotal$33,086SubtotalAmt
Other Decreases$3,412OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$29,674TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$13,375AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$48,418NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.27624DistributionYr1Rt
Adjusted Qlfy Distri Yr2$4,633AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$35,366NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.131002DistributionYr2Rt
Adjusted Qlfy Distri Yr3$6,207AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$391NetVlNoncharitableAssetsYr3Amt
Distribution Yr315.87468DistributionYr3Rt
Adjusted Qlfy Distri Yr4$6,759AdjustedQlfyDistriYr4Amt
Adjusted Qlfy Distri Yr5$4,004AdjustedQlfyDistriYr5Amt
Total Distribution16.281922TotalDistributionRt
Average Distribution3.256384AverageDistributionRt
Net Vl Noncharitable Assets$37,763NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$122,971AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$0NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$122,971AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$25QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
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 Line1EDWARD GELLERTBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9733640400PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1HERRICK FEINSTEIN LLP 2 PARK AVEAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10016ZIPCd
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
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonEdward GellertPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line174 South RoadAddressLine1Txt
CityHarrisonCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10528ZIPCd
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$38,338AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$38,338TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$38,338AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$575CashDeemedCharitableAmt
Net Vl Noncharitable Assets$37,763NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,888MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$1,888MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$1,888DistributableBeforeAdjAmt
Distributable Before Ded$1,888DistributableBeforeDedAmt
Distributable As Adjusted$1,888DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$25ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$25QualifyingDistributionsAmt
Adjusted Qualifying Distri$25AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$1,888DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12017PriorYear1Yr
Prior Year22016PriorYear2Yr
Prior Year32015PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$4,004ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$6,759ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$6,187ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$2,865ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$10,954ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$30,769TotalExcessDistributionCyovAmt
Qualifying Distributions$25QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$25AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$1,863ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$1,863ExcessDistributionCyovAppCYAmt
Total Corpus$28,906TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$2,141ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$26,765ExcessDistriCyovToNextYrAmt
Excess From Year4$6,759ExcessFromYear4Amt
Excess From Year3$6,187ExcessFromYear3Amt
Excess From Year2$2,865ExcessFromYear2Amt
Excess From Year1$10,954ExcessFromYear1Amt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

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 VIIDivAndIntFromSecPartVIIGrp
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 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

Depreciation Schedule DepreciationSchedule

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp

FieldValueIRS element (for citing)
Lender PersonLOAN FROM ED GELLERTLenderPersonNm
Loan Original$4,004LoanOriginalAmt
Balance Due$11,868BalanceDueAmt
Note2014-08NoteDt
Loan PurposeTO FUND LEGAL AND FILING FEESLoanPurposeTxt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescPRIOR PERIOD ADJUSTMENTDesc
Amt$3,412Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescFILING FEEDesc
Revenue And Expenses Per Books$25RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$25DisbursementsCharitablePrpsAmt

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