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INDEPENDENT THINKING & NEW MEDIA FOUNDATION CORP: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
INDEPENDENT THINKING & NEW MEDIA FOUNDATION CORP (EIN 13-4147350)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-08-28
IRS object ID
201842409349100404
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)
Return2018-08-28T08:49:47-07:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN132992850PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1KAMERMAN UNCYK SONIKER & KLEIN PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11700 Broadway 42nd FloorAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10019ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN134147350EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1INDEPENDENT NEW MEDIA FOUNDATION FKABusinessNameLine1Txt
Business Name Line2INDEP THINKING & NEW MEDIA FOUNDATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlINDEBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1c/o M Yao 33-27 201st StreetAddressLine1Txt
CityBaysideCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11361ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMAGGIE YAOPersonNm
Person TitlePresidentPersonTitleTxt
Signature2018-08-28SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMartin KleinPreparerPersonNm
PTINP01006807PTIN
Phone2124004930PhoneNum
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$54,749FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$4InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$4InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$4InterestOnSavingsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$9,901NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$18,999GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$9,901CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$9,901NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$9,905TotalRevAndExpnssAmt
Total Net Invst Incm$9,905TotalNetInvstIncmAmt
Total Adj Net Incm$9,905TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$4,000OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$1TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$300OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$4,301TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$4,301TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$0TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$5,604ExcessRevenueOverExpensesAmt
Net Investment Income$9,905NetInvestmentIncomeAmt
Adjusted Net Income$9,905AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$5,000CashBOYAmt
Cash EOY$5,000CashEOYAmt
Cash EOYFMV$5,000CashEOYFMVAmt
Sav And Temp Cash Invst BOY$36,732SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$26,594SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$26,594SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$26,478CorporateStockBOYAmt
Corporate Stock EOY$51,318CorporateStockEOYAmt
Corporate Stock EOYFMV$23,155CorporateStockEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$16,200LandBldgEquipCostOrOtherBssAmt
Land BOY$16,200LandBOYAmt
Land EOY$16,200LandEOYAmt
Total Assets BOY$84,410TotalAssetsBOYAmt
Total Assets EOY$99,112TotalAssetsEOYAmt
Total Assets EOYFMV$54,749TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Capital Stock BOY$225,000CapitalStockBOYAmt
Capital Stock EOY$225,000CapitalStockEOYAmt
Retained Earning BOY-$140,590RetainedEarningBOYAmt
Retained Earning EOY-$125,888RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$84,410TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$99,112TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$84,410TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$99,112TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$84,410TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$5,604ExcessRevenueOverExpensesAmt
Other Increases$9,098OtherIncreasesAmt
Subtotal$99,112SubtotalAmt
Tot Net Ast Or Fund Balances EOY$99,112TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
Property5,000 Future Fintech Group IncPropertyDesc
How AcquiredPHowAcquiredCd
Acquired2017-12-18AcquiredDt
Sold2017-12-21SoldDt
Gross Sales Price$18,999GrossSalesPriceAmt
Cost Or Other Basis$9,098CostOrOtherBasisAmt
Gain Or Loss$9,901GainOrLossAmt
Gains Minus Excess Or Losses$9,901GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$9,901CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$9,901NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$198InvestmentIncomeExciseTaxAmt
Subtotal$198SubtotalAmt
Tax Based On Investment Income$198TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$198ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$198TotalPaymentsAndCreditsAmt

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 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 Line1MAGGIE YAOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2128190900PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line133-27 201st StreetAddressLine1Txt
CityBaysideCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11361ZIPCd
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

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
MAGGIE YAO
33-27 201st StreetBaysideNY11361President0.00$0
LINGQIN PAN
33-27 201st StreetBaysideNY11361Director0.00$0
STEPHEN LEVY
1411 BROADWAYNEW YORKNY10018Secty, Director0.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1Foster the awareness and appreciaton of art, music, film and other artistic and scholarly works of underprivileged new artists and scholars from varied ethnic backgrounds.Description1Txt
Expenses1$0Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$39,235AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$39,235TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$39,235AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$589CashDeemedCharitableAmt
Net Vl Noncharitable Assets$38,646NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,932MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$1,932MinimumInvestmentReturnAmt
Tax Based On Investment Income$198TaxBasedOnInvestmentIncomeAmt
Total Tax$198TotalTaxAmt
Distributable Before Adj$1,734DistributableBeforeAdjAmt
Distributable Before Ded$1,734DistributableBeforeDedAmt
Distributable As Adjusted$1,734DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$0ExpensesAndContributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$1,734DistributableAsAdjustedAmt
Excess Distribution Cyov Yr1$52,287ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$52,287TotalExcessDistributionCyovAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$1,734ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$1,734ExcessDistributionCyovAppCYAmt
Total Corpus$50,553TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$50,553ExcessDistriCyovToNextYrAmt
Excess From Year1$50,553ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

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

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$4ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$9,901ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$9,905ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$9,905TotalIncomeProducingActyAmt

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (4 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
5,000 MANHATTAN SCIENTIFICS INC$5,530$105
10,000 Infinito Gold Ltd$18,790
2 Santana Mining Inc$2,158
5,000 Seven Stars Cloud Group Inc$24,840$23,050

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or ItemBuildingsCategoryOrItemTxt
Cost Or Other Basis$16,200CostOrOtherBasisAmt
Book Value$16,200BookValueAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
Brokerage Fees$250
Department of Law Filing Fee$50

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescCost of Stock purchased and sold during the yearDesc
Amt$9,098Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryLegal FeesCategoryTxt
Amt$4,000Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryUnited States TreasuryCategoryTxt
Amt$1Amt

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