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ILA & DINESH PALIWAL FOUNDATION: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
ILA & DINESH PALIWAL FOUNDATION (EIN 47-3873474)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-05-10
IRS object ID
201841309349101464
Schema version
2017v2.3
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)
Return2018-05-10T11:43:50-05:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1WITHUMSMITHBROWN PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11411 BROADWAY 9TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN473873474EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ILA & DINESH PALIWAL FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% C/O WITHUM SMITH & BROWNInCareOfNm
Business Name ControlILA&BusinessNameControlTxt
Phone2127519100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O WSB 1411 BROADWAY 23FLAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonILA PALIWALPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2127519100PhoneNum
Signature2018-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonROBERT DEMMETT CPAPreparerPersonNm
PTINP00103809PTIN
Phone2127519100PhoneNum
Preparation2018-05-15PreparationDt
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,368,657FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,000,000ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$5,086DividendsRevAndExpnssAmt
Dividends Net Invst Incm$5,086DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$113,390NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,400,000GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$113,390CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$2,118,476TotalRevAndExpnssAmt
Total Net Invst Incm$118,476TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Expenses Rev And Expnss$155OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$155OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$155TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$155TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$131,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$131,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$131,155TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$131,155TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$1,987,321ExcessRevenueOverExpensesAmt
Net Investment Income$118,476NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$23,751CashBOYAmt
Cash EOY$0CashEOYAmt
Cash EOYFMV$0CashEOYFMVAmt
Sav And Temp Cash Invst BOY$0SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$3,017,816SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$3,017,816SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$1,286,610CorporateStockBOYAmt
Corporate Stock EOY$279,866CorporateStockEOYAmt
Corporate Stock EOYFMV$350,841CorporateStockEOYFMVAmt
Total Assets BOY$1,310,361TotalAssetsBOYAmt
Total Assets EOY$3,297,682TotalAssetsEOYAmt
Total Assets EOYFMV$3,368,657TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$1,310,361RetainedEarningBOYAmt
Retained Earning EOY$3,297,682RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,310,361TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,297,682TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,310,361TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,297,682TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,310,361TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$1,987,321ExcessRevenueOverExpensesAmt
Subtotal$3,297,682SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,297,682TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
Property12,500 SHRS HARMAN INTERNATIONALPropertyDesc
Acquired2015-08-28AcquiredDt
Sold2017-03-13SoldDt
Gross Sales Price$1,400,000GrossSalesPriceAmt
Cost Or Other Basis$1,286,610CostOrOtherBasisAmt
Gain Or Loss$113,390GainOrLossAmt
Gains Minus Excess Or Losses$113,390GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$113,390CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$225AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$1,051,943NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.000214DistributionYr1Rt
Adjusted Qlfy Distri Yr2$0AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$1,237,825NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.0DistributionYr2Rt
Total Distribution0.000214TotalDistributionRt
Average Distribution0.000071AverageDistributionRt
Net Vl Noncharitable Assets$1,544,500NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$110AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$1,185NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$1,295AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$131,155QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$1,185InvestmentIncomeExciseTaxAmt
Subtotal$1,185SubtotalAmt
Tax Based On Investment Income$1,185TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Es Penalty$6EsPenaltyAmt
Tax Due$1,191TaxDueAmt

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 StateNYOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
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 Line1CO WITHUM SMITH & BROWNBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2127519100PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line11411 BROADWAY 23RD FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd
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

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ILA PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTOR; PRESIDENT0.5$0$0$0
DINESH PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTOR; CHAIRMAN0.5$0$0$0
SHRIYA PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTORY; VICE PRESIDENT0.5$0$0$0
AASHEESH PALIWAL
C/O WSB 1411 BROADWAY 23RD FLNEW YORKNY10018DIRECTOR; SECRETARY0.5$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$747,367AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$820,653AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,568,020TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$1,568,020AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$23,520CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,544,500NetVlNoncharitableAssetsAmt
Minimum Investment Return$77,225MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$77,225MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,185TaxBasedOnInvestmentIncomeAmt
Total Tax$1,185TotalTaxAmt
Distributable Before Adj$76,040DistributableBeforeAdjAmt
Distributable Before Ded$76,040DistributableBeforeDedAmt
Distributable As Adjusted$76,040DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$131,155ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$131,155QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$1,185PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$129,970AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$76,040DistributableAsAdjustedAmt
Undistributed Income PY$52,022UndistributedIncomePYAmt
Prior Year12015PriorYear1Yr
Prior Year22014PriorYear2Yr
Prior Year32013PriorYear3Yr
Qualifying Distributions$131,155QualifyingDistributionsAmt
Applied To Year1$52,022AppliedToYear1Amt
Applied To Current Year$76,040AppliedToCurrentYearAmt
Remaining Distri From Corpus$3,093RemainingDistriFromCorpusAmt
Total Corpus$3,093TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$3,093ExcessDistriCyovToNextYrAmt
Excess From Current Year$3,093ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerILA AND DINESH PALIWALContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
CHILD MIND INSTITUTE
445 PARK AVENUENEW YORKNY10022N/APCUNRESTRICTED$15,000
THE RUBIN MUSEUM OF ART
150 WEST 17TH STREETNEW YORKNY10011N/APCUNRESTRICTED$30,000
SOUTH ASIAN YOUTH ACTION
54-05 SEABURY STELMHURSTNY11373N/APCUNRESTRICTED$25,000
PRATHAM USA
9703 RICHMOND AVE SUITE 102HOUSTONTX77042N/APCUNRESTRICTED$30,000
ROBIN HOOD
826 BROADWAY 9TH FLNEW YORKNY10003N/APCUNRESTRICTED$25,000
1000 DREAMS FUND
1875 CONNECTICUT AVE 11TH FLWASHINGTON DCWA20009N/APCUNRESTRICTED$5,000
SRINGERI VIDYA BHARATI FOUNDATION INC
327 CAYS ROADSTROUDSBURGPA18360N/APCUNRESTRICTED$1,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$131,000TotalGrantOrContriPdDurYrAmt

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$711ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$4,375ExclusionAmt
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$113,390ExclusionAmt
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$118,476ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$118,476TotalIncomeProducingActyAmt

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
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonILA DINESH PALIWALContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line117 KHAKUM WOOD RDAddressLine1Txt
CityGREENWICHCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06831ZIPCd
FieldValueIRS element (for citing)
Total Contributions$2,000,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
12,500 SHRS HARMAN INTNL$0$0
300 SHRS AMAZON$279,866$350,841

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUS FEESDesc
Revenue And Expenses Per Books$155RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$155DisbursementsCharitablePrpsAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonILA DINESH PALIWALPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line117 KHAKUM WOOD RDAddressLine1Txt
CityGREENWICHCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06831ZIPCd

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