BETA

VARUN AND AMEETA GOSAIN FOUNDATION: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
VARUN AND AMEETA GOSAIN FOUNDATION (EIN 46-1429291)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-05-14
IRS object ID
201941349349102304
Schema version
2018v3.1
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)
Return2019-05-14T09:38:15-07:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

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
ZIP907032206ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

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
Signature2019-05-14SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBaljeet SinghPreparerPersonNm
PTINP01253724PTIN
Phone5622291220PhoneNum
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2020-01-14 16:20:31ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,488,043FMVAssetsEOYAmt
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$159,679DividendsRevAndExpnssAmt
Dividends Net Invst Incm$159,679DividendsNetInvstIncmAmt
Dividends Adj Net Incm$159,679DividendsAdjNetIncmAmt
Total Rev And Expnss$159,679TotalRevAndExpnssAmt
Total Net Invst Incm$159,679TotalNetInvstIncmAmt
Total Adj Net Incm$159,679TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$1,698OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$3,053TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$4,751TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$204,621ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$204,621ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$209,372TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$204,621TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$49,693ExcessRevenueOverExpensesAmt
Net Investment Income$159,679NetInvestmentIncomeAmt
Adjusted Net Income$159,679AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$12,941CashBOYAmt
Cash EOY$248CashEOYAmt
Cash EOYFMV$248CashEOYFMVAmt
Other Investments BOY$2,528,471OtherInvestmentsBOYAmt
Other Investments EOY$2,528,471OtherInvestmentsEOYAmt
Other Investments EOYFMV$2,487,795OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,541,412TotalAssetsBOYAmt
Total Assets EOY$2,528,719TotalAssetsEOYAmt
Total Assets EOYFMV$2,488,043TotalAssetsEOYFMVAmt
Loans From Officers EOY$37,000LoansFromOfficersEOYAmt
Total Liabilities EOY$37,000TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$2,541,412UnrestrictedBOYAmt
Unrestricted EOY$2,491,719UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$2,541,412TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,491,719TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,541,412TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,528,719TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,541,412TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$49,693ExcessRevenueOverExpensesAmt
Subtotal$2,491,719SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,491,719TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$3,194InvestmentIncomeExciseTaxAmt
Subtotal$3,194SubtotalAmt
Tax Based On Investment Income$3,194TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$121EsPenaltyAmt
Tax Due$3,315TaxDueAmt

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
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
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
Business HoldingsfalseBusinessHoldingsInd
Excess Business HoldingsfalseExcessBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
Maintained Expenditure RspnsfalseMaintainedExpenditureRspnsInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd
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$3,438,245AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$83,926AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,522,171TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$3,522,171AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$52,833CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,469,338NetVlNoncharitableAssetsAmt
Minimum Investment Return$173,467MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$173,467MinimumInvestmentReturnAmt
Tax Based On Investment Income$3,194TaxBasedOnInvestmentIncomeAmt
Total Tax$3,194TotalTaxAmt
Distributable Before Adj$170,273DistributableBeforeAdjAmt
Distributable Before Ded$170,273DistributableBeforeDedAmt
Distributable As Adjusted$170,273DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$204,621ExpensesAndContributionsAmt
Qualifying Distributions$204,621QualifyingDistributionsAmt
Adjusted Qualifying Distri$204,621AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$170,273DistributableAsAdjustedAmt
Undistributed Income PY$204,621UndistributedIncomePYAmt
Qualifying Distributions$204,621QualifyingDistributionsAmt
Applied To Year1$204,621AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Undistributed Income CY$170,273UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
NEW YORK UNIVERSITY
25 WEST FOURTH STREET 4TH FLOORNEW YORKNY10012NONEPCScholarships for NYU Stern students$15,000
COLUMBIA UNIVERSITY
622 WEST 113TH STREET MAIL CODE4524NEW YORKNY10025NONEPCSupport of the Columbia Common Core and Science Honors Program$10,000
SCHWAB CHARITABLE FUND
211 MAIN STREET FLOOR 10SAN FRANCISCOCA94105NONEPCSupport worthwhile organizations through the fund$175,621
MEMORIAL SLOAN KETTERING CANCER CEN
1275 YORK AVENUENEW YORKNY10065NONEPCTo support cancer research.$4,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$204,621TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion$159,679ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$159,679ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$159,679TotalIncomeProducingActyAmt

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

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp

FieldValueIRS element (for citing)
Lender PersonVARUN GOSAINLenderPersonNm
TitleOFFICERTitleTxt
Loan Original$37,000LoanOriginalAmt
Balance Due$37,000BalanceDueAmt
Note2018-12NoteDt
Loan Maturity2019-01LoanMaturityDt
Loan PurposeTO PAY DISTRIBUTIONLoanPurposeTxt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryProfessional FeesCategoryTxt
Amt$1,698Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTaxesCategoryTxt
Amt$3,053Amt

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