BETA

VARUN AND AMEETA GOSAIN FOUNDATION: Form 990PF, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
VARUN AND AMEETA GOSAIN FOUNDATION (EIN 46-1429291)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-02-17
IRS object ID
201720489349100202
Schema version
2016v3.0
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)
Return2017-02-17T08:47:01-08:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

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 Begin2016-01-01TaxPeriodBeginDt

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
Signature2017-02-17SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBaljeet SinghPreparerPersonNm
PTINP01253724PTIN
Phone5622291220PhoneNum
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,588,841FMVAssetsEOYAmt
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$380,737DividendsRevAndExpnssAmt
Dividends Net Invst Incm$380,737DividendsNetInvstIncmAmt
Dividends Adj Net Incm$380,737DividendsAdjNetIncmAmt
Total Rev And Expnss$380,737TotalRevAndExpnssAmt
Total Net Invst Incm$380,737TotalNetInvstIncmAmt
Total Adj Net Incm$380,737TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$1,504OtherProfFeesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$1,504TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$179,033ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$179,033ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$180,537TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$179,033TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$200,200ExcessRevenueOverExpensesAmt
Net Investment Income$380,737NetInvestmentIncomeAmt
Adjusted Net Income$380,737AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash EOY$68,100CashEOYAmt
Cash EOYFMV$68,100CashEOYFMVAmt
Other Investments BOY$2,528,471OtherInvestmentsBOYAmt
Other Investments EOY$2,528,471OtherInvestmentsEOYAmt
Other Investments EOYFMV$3,520,741OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,528,471TotalAssetsBOYAmt
Total Assets EOY$2,596,571TotalAssetsEOYAmt
Total Assets EOYFMV$3,588,841TotalAssetsEOYFMVAmt
Loans From Officers BOY$132,100LoansFromOfficersBOYAmt
Total Liabilities BOY$132,100TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$2,396,371UnrestrictedBOYAmt
Unrestricted EOY$2,596,571UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$2,396,371TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,596,571TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,528,471TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,596,571TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,396,371TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$200,200ExcessRevenueOverExpensesAmt
Subtotal$2,596,571SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,596,571TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$7,615InvestmentIncomeExciseTaxAmt
Subtotal$7,615SubtotalAmt
Tax Based On Investment Income$7,615TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,037EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$3,037TotalPaymentsAndCreditsAmt
Tax Due$4,578TaxDueAmt

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

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$4,055,561AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$131,719AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,187,280TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$4,187,280AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$62,809CashDeemedCharitableAmt
Net Vl Noncharitable Assets$4,124,471NetVlNoncharitableAssetsAmt
Minimum Investment Return$206,224MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$206,224MinimumInvestmentReturnAmt
Tax Based On Investment Income$7,615TaxBasedOnInvestmentIncomeAmt
Total Tax$7,615TotalTaxAmt
Distributable Before Adj$198,609DistributableBeforeAdjAmt
Distributable Before Ded$198,609DistributableBeforeDedAmt
Distributable As Adjusted$198,609DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$179,033ExpensesAndContributionsAmt
Qualifying Distributions$179,033QualifyingDistributionsAmt
Adjusted Qualifying Distri$179,033AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$198,609DistributableAsAdjustedAmt
Undistributed Income PY$176,533UndistributedIncomePYAmt
Qualifying Distributions$179,033QualifyingDistributionsAmt
Applied To Year1$176,533AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$2,500AppliedToCurrentYearAmt
Undistributed Income CY$196,109UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerVARUN GOSAINContributingManagerNm
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 PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line1RecipientForeignAddress/AddressLine1TxtCityRecipientForeignAddress/CityNmCountryRecipientForeignAddress/CountryCdForeign PostalRecipientForeignAddress/ForeignPostalCd
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$136,533
UNIVERSITY OF PENNSYLVANIA
UNIVERSITY OF PENNSYLVANIAPHILADELPHIAPA19104NONEPCTo support the Center for the Advance Study of India and other activities$3,000
EDEN II GENESIS
15 Beach StreetStaten IslandNY10304NONEPCSupport the organizations programs$2,500
COVENANT HOUSE
702 N ERIE STTOLEDOOH43604NONEPCSupport the organizations programs.$2,000
SANYA KUMAR CO INLAKS
NONENCDirect scholarship award to an individual towards tuition for LLM at Yale$10,00086 /87 ATLANTA NARIMAN POINTMUMBAIIN400021
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$179,033TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion$380,737ExclusionAmt

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescOther IncomeDesc

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$380,737ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$380,737TotalIncomeProducingActyAmt

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

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryProfessional FeesCategoryTxt
Amt$1,504Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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