GANGULY FAMILY FOUNDATION INC: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
GANGULY FAMILY FOUNDATION INC (EIN 22-3769532)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-03-15
IRS object ID
201800749349100010
Schema version
2017v2.2
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)
Return2018-03-15T05:32:34-00:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LEONARD ZIMMERMAN CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1280 UNION HILL ROADAddressLine1Txt
CityMANALAPANCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07726ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN223769532EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1GANGULY FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlGANGBusinessNameControlTxt
Phone9737467245PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1197 CLAFLIN STREETAddressLine1Txt
CityBELMONTCityNm
State AbbreviationMAStateAbbreviationCd
ZIP02478ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonASHIT GANGULYPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone6174843806PhoneNum
Signature2018-03-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLeonard ZimmermanPreparerPersonNm
Phone7325360830PhoneNum
Preparation2018-03-15PreparationDt
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$266,131FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$10,000ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$15,008DividendsRevAndExpnssAmt
Dividends Net Invst Incm$15,008DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$25,008TotalRevAndExpnssAmt
Total Net Invst Incm$15,008TotalNetInvstIncmAmt
Other Expenses Rev And Expnss$150OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$150TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$8,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$8,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$8,650TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$8,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$16,358ExcessRevenueOverExpensesAmt
Net Investment Income$15,008NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$25,496CashBOYAmt
Cash EOY$28,596CashEOYAmt
Cash EOYFMV$28,596CashEOYFMVAmt
Corporate Stock BOY$131,436CorporateStockBOYAmt
Corporate Stock EOY$144,694CorporateStockEOYAmt
Corporate Stock EOYFMV$237,535CorporateStockEOYFMVAmt
Total Assets BOY$156,932TotalAssetsBOYAmt
Total Assets EOY$173,290TotalAssetsEOYAmt
Total Assets EOYFMV$266,131TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$156,932RetainedEarningBOYAmt
Retained Earning EOY$173,290RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$156,932TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$173,290TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$156,932TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$173,290TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$156,932TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$16,358ExcessRevenueOverExpensesAmt
Subtotal$173,290SubtotalAmt
Tot Net Ast Or Fund Balances EOY$173,290TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$6,600AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$217,011NetVlNoncharitableAssetsYr1Amt
Distribution Yr1000.030413DistributionYr1Rt
Adjusted Qlfy Distri Yr2$8,565AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$172,286NetVlNoncharitableAssetsYr2Amt
Distribution Yr2000.049714DistributionYr2Rt
Adjusted Qlfy Distri Yr3$5,800AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$199,207NetVlNoncharitableAssetsYr3Amt
Distribution Yr3000.029115DistributionYr3Rt
Adjusted Qlfy Distri Yr4$7,200AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$166,128NetVlNoncharitableAssetsYr4Amt
Distribution Yr4000.043340DistributionYr4Rt
Total Distribution000.152582TotalDistributionRt
Average Distribution000.030516AverageDistributionRt
Net Vl Noncharitable Assets$260,612NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$7,953AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$150NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$8,103AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$8,500QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$150InvestmentIncomeExciseTaxAmt
Subtotal$150SubtotalAmt
Tax Based On Investment Income$150TaxBasedOnInvestmentIncomeAmt
Tax Due$150TaxDueAmt

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 StateNJOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNoneWebsiteAddressTxt
Individual With BooksDr Ashit K GangulyIndividualWithBooksNm
Phone6174843806PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1197 CLAFLIN STREETAddressLine1Txt
CityBELMONtCityNm
State AbbreviationMAStateAbbreviationCd
ZIP02478ZIPCd
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 PYYes (true)UndistributedIncomePYInd
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
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Dr Ashit Ganguly
197 CAFLIN STREETBELMONTMA02478President010.00$0
Jean Ganguly
197 CAFLIN STREETBELMONTMA02478Vic President010.00$0
Nomita Ganguly
133 St Botolphy StreetBostonMA02115Secy/ Treas010.00$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1Payments to 501(c)(3) charitable organizationsDescription1Txt
Expenses1$0Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt
Description2N/ADescription2Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$237,535AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$27,046AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$264,581TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$264,581AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$3,969CashDeemedCharitableAmt
Net Vl Noncharitable Assets$260,612NetVlNoncharitableAssetsAmt
Minimum Investment Return$13,031MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$13,031MinimumInvestmentReturnAmt
Tax Based On Investment Income$150TaxBasedOnInvestmentIncomeAmt
Total Tax$150TotalTaxAmt
Distributable Before Adj$12,881DistributableBeforeAdjAmt
Distributable Before Ded$12,881DistributableBeforeDedAmt
Distributable As Adjusted$12,881DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$8,500ExpensesAndContributionsAmt
Qualifying Distributions$8,500QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$150PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$8,350AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$12,881DistributableAsAdjustedAmt
Undistributed Income PY$10,033UndistributedIncomePYAmt
Qualifying Distributions$8,500QualifyingDistributionsAmt
Applied To Year1$8,500AppliedToYear1Amt
Taxable2$1,533Taxable2Amt
Undistributed Income CY$12,881UndistributedIncomeCYAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$8,500CurrentYearAmt
Year1$6,600Year1Amt
Year2$8,700Year2Amt
Year3$5,800Year3Amt
Total$29,600TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$8,500CurrentYearAmt
Year1$6,600Year1Amt
Year2$8,700Year2Amt
Year3$5,800Year3Amt
Total$29,600TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$8,687CurrentYearAmt
Year1$7,234Year1Amt
Year2$5,743Year2Amt
Year3$6,640Year3Amt
Total$28,304TotalAmt

Public Support Type PublicSupportType

FieldValueIRS element (for citing)
Current Year$8,687CurrentYearAmt
Year1$7,234Year1Amt
Year2$5,743Year2Amt
Year3$6,640Year3Amt
Total$28,304TotalAmt

Gross Investment Income GrossInvestmentIncomeGrp

FieldValueIRS element (for citing)
Current Year$15,008CurrentYearAmt
Year1$13,107Year1Amt
Year2$13,483Year2Amt
Year3$3,737Year3Amt
Total$45,335TotalAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerAshit GangulyContributingManagerNm
Contributing ManagerJean GangulyContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (18 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
AMNESTY INTERNATIONAL
PO BOX 9756WASHINGTONDC20077HUMANITARIAN$400
SPAULDING OUTPATIENT CENTER
1575 CAMBRIDGE STCAMBRIDGEMA02138HUMANITARIAN$400
FRIENDS OF THE BELMONT COUNCIL
266 BEACH STREEBELMONTMA02478HUMANITARIAN$200
FOUNDATION OF BELMONT EDUCATION
PO BOX 518BELMONTMA02478HUMANITARIAN$600
UNICEF
PO BOX 7780NEWARKNJ07101HUMANITARIAN$600
OXFOAM AMERICA
PO BOX 7011ALBERTAMN56007HUMANITARIAN$500
HUMAN NEEDS PANTRY
9 LABEL STMONTCLAIRNJ07042HUMANITARIAN$300
AMERICAN ASSOC FOR ADVANCEMENT
PO BOX 632031BALTIMOREMD21298HUMANITARIAN$300
DOCTORS WITHOUT BORDERS
PO BOX 5022HAGERSTOWNMD21741HUMANITARIAN$600
EARTH JUSTICE
50 CALIFORNIA STSAN FRANCISCOCA94111HUMANITARIAN$400
PLANNED PARENTHOOD
90 BOX 97166WASHINGTONDC20077HUMANITARIAN$700
WBGH RADIO
ONE GUEST STBOSTONMA02135HUMANITARIAN$600
IMPERIAL COLLEGE FOUNDATION
PO BOX 80526ATLANTAGA30366HUMANITARIAN$400
WGBH PUBLIC TELEVISION
ONE GUEST STBOSTONMA02135HUMANITARIAN$600
CARE
151 ELLIS ST NEATLANTAGA30303HUMANITARIAN$500
BELMONT PUBLICE LIBRARY
336 CONCORD AVEBELMONTMA02478HUMANITARIAN$300
HORIZON'S OF HOMELESS CHILDREN
1705 COLUBUS AVEROXBURYMA02119HUMANITARIAN$500
ROSIE'S PLACE
PO BOX 51399BOSTONMA02118HUMANITARIAN$600
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$8,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$14,950UnrelatedBusinessTaxblIncmAmt
Exclusion14ExclusionCd

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$14,950UnrelatedBusinessTaxblIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$14,950TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number1LineNumberTxt
Relationship StatementN/ARelationshipStatementTxt

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

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonA GANGULYContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line198 COOPER AVENUEAddressLine1Txt
CityUPPER MONTCLAIRCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07043ZIPCd
FieldValueIRS element (for citing)
Total Contributions$10,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch

All Other Program Related Invst AllOtherProgramRelatedInvstGrp

FieldValueIRS element (for citing)
DescN/ADesc

General Explanation Attachment GeneralExplanationAttachment

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (5 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
2425 shares of Pfizer$25,178$87,833
1197 shares of American Growth Fund$39,860$59,299
2150 shares of Black Rock Equity$43,267$48,826
2310 shares of Black Rock Multi Asset$25,348$25,525
400 shares of MFS Value$11,041$16,052

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescINVESTMENT FEEDesc
Revenue And Expenses Per Books$150RevenueAndExpensesPerBooksAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonDR A GANGULTPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line196 COOPER AVENUEAddressLine1Txt
CityUPPER MONTCLAIRCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07043ZIPCd

Taxes Schedule TaxesSchedule

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