TARA CHAND FOUNDATION: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
TARA CHAND FOUNDATION (EIN 47-2629243)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-05-15
IRS object ID
201841359349100104
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)
Return2018-05-15T04:06:17-07:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Lane & Company CPAsBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11717 Pennsylvania Avenue NW Suite 4AddressLine1Txt
CityWashingtonCityNm
State AbbreviationDCStateAbbreviationCd
ZIP20006ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN472629243EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE TARA CHAND FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlTARABusinessNameControlTxt
Phone2023652391PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12339 MASSACHUSETTS AVE NWAddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP20008ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSUMAN SORGPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone2023652391PhoneNum
Signature2018-05-14SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonROBERT E LANEPreparerPersonNm
PTINP01622353PTIN
Phone2024636500PhoneNum
Preparation2018-05-15PreparationDt
Self EmployedYes (X)SelfEmployedInd

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address208.82.213.94IPv4AddressTxt
FieldValueIRS element (for citing)
IP2018-05-15IPDt
IP Tm04:06:12IPTm
IP TimezonePDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id08CFD1AD8CBCC6749B8F9123897879BF0476B103AtSubmissionCreationDeviceId
At Submission Filing Device Id08CFD1AD8CBCC6749B8F9123897879BF0476B103AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,863,391FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,059,469ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$37,179DividendsRevAndExpnssAmt
Dividends Net Invst Incm$37,179DividendsNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$75,627CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,096,648TotalRevAndExpnssAmt
Total Net Invst Incm$112,806TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$3,150AccountingFeesRevAndExpnssAmt
Other Expenses Rev And Expnss$7,891OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$7,891OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$11,041TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$7,891TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$51,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$51,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$62,041TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$7,891TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$51,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$1,034,607ExcessRevenueOverExpensesAmt
Net Investment Income$104,915NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$27,058CashBOYAmt
Cash EOY$424,142CashEOYAmt
Cash EOYFMV$424,142CashEOYFMVAmt
Corporate Stock BOY$1,556,780CorporateStockBOYAmt
Corporate Stock EOY$2,439,249CorporateStockEOYAmt
Corporate Stock EOYFMV$2,439,249CorporateStockEOYFMVAmt
Total Assets BOY$1,583,838TotalAssetsBOYAmt
Total Assets EOY$2,863,391TotalAssetsEOYAmt
Total Assets EOYFMV$2,863,391TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$1,583,838UnrestrictedBOYAmt
Unrestricted EOY$2,863,391UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$1,583,838TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,863,391TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,583,838TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,863,391TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,583,838TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$1,034,607ExcessRevenueOverExpensesAmt
Other Increases$244,946OtherIncreasesAmt
Subtotal$2,863,391SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,863,391TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (3 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtDepreciationDepreciationAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtFMV As Of123169FMVAsOf123169AmtAdjusted Basis As Of123169AdjustedBasisAsOf123169AmtExcess FMV Over Adjusted BssExcessFMVOverAdjustedBssAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
PUBLICLY TRADED SECURITIESP2016-03-222017-06-06$100,401$0$85,914$14,487$0$0$0$14,487
PUBLICLY TRADED SECURITIESP2016-03-222017-12-29$222,719$0$169,383$53,336$0$0$0$53,336
PUBLICLY TRADED SECURITIESP2016-12-222017-12-29$53,577$0$45,773$7,804$0$0$0$7,804
FieldValueIRS element (for citing)
Capital Gain Net Income$75,627CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Adjusted Qlfy Distri Yr1$26,500AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$1,027,042NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.025802DistributionYr1Rt
Net Vl Noncharitable Assets Yr2$485,247NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.000000DistributionYr2Rt
Net Vl Noncharitable Assets Yr3$443,250NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.000000DistributionYr3Rt
Total Distribution0.025802TotalDistributionRt
Average Distribution0.008601AverageDistributionRt
Net Vl Noncharitable Assets$1,786,431NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$15,365AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$1,049NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$16,414AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$51,000QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$1,049InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$1,049SubtotalAmt
Tax Based On Investment Income$1,049TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$1,049ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$1,049TotalPaymentsAndCreditsAmt
Original Return Tax Paid$1,049OriginalReturnTaxPaidAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$9EsPenaltyAmt
Tax Due$9TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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
Form990 PF Filed With Atty GenfalseForm990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksHAROLD LEVYIndividualWithBooksNm
Phone3013000323PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line12339 MASSACHUSETTS AVE NW APT1AddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP20008ZIPCd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
SUMAN SORG
2339 MASSACHUSETTS AVE NW APT 1WASHINGTONDC20008PRESIDENT5.00$0$0$0
NIKKI EDWARDS
2339 MASSACHUSETTS AVE NW APT 1WASHINGTONDC20008TREASURER5.00$0$0$0
HAROLD LEVY
2339 MASSACHUSETTS AVE NW APT 1WASHINGTONDC20008SECRETARY5.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$1,715,370AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$98,266AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,813,636TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$1,813,636AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$27,205CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,786,431NetVlNoncharitableAssetsAmt
Minimum Investment Return$89,322MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$89,322MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,049TaxBasedOnInvestmentIncomeAmt
Total Tax$1,049TotalTaxAmt
Distributable Before Adj$88,273DistributableBeforeAdjAmt
Distributable Before Ded$88,273DistributableBeforeDedAmt
Distributable As Adjusted$88,273DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$51,000ExpensesAndContributionsAmt
Qualifying Distributions$51,000QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$1,049PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$49,951AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$88,273DistributableAsAdjustedAmt
Undistributed Income PY$48,563UndistributedIncomePYAmt
Qualifying Distributions$51,000QualifyingDistributionsAmt
Applied To Year1$48,563AppliedToYear1Amt
Applied To Current Year$2,437AppliedToCurrentYearAmt
Undistributed Income CY$85,836UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
INTERNATIONAL RESCUE COMMITTEE
122 EAST 42ND STNEW YORKNY10168501C3GENERAL SUPPORT$50,000
AMERICAN FRIENDS OF THE LUDWIG FOUNDATION OF CUBA
3 EAST 69TH STNEW YORKNY10021501C3GENERAL SUPPORT$1,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$51,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$37,179ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$75,627ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$112,806ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$112,806TotalIncomeProducingActyAmt

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 PersonSUMAN SORGContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line12339 MASSACHUSETTS AVE NW APT 1AddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP20008ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,059,469TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescINVESTMENT FEESDesc
Revenue And Expenses Per Books$7,891RevenueAndExpensesPerBooksAmt
Net Investment Income$7,891NetInvestmentIncomeAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail (2 entries)

DescDescAmtAmt
UNREALIZED GAIN ON INVESTMENTS$169,319
REALIZED GAIN ON INVESTMENTS$75,627

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