Bound Lotus Foundation Inc: Form 990PF, tax year 2016

View the entire original 990 at ProPublica ↗

Organization: Bound Lotus Foundation Inc (EIN 47-1717577)
Tax period: 2016-01-01 to 2016-12-31
Filed: 2017-05-15
IRS object ID: 201721359349102117
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
Form 990-PF
Schedule B
Depreciation Schedule
Legal Fees Schedule
Loans From Officers Schedule
Other Expenses Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2017-05-15T10:26:46-05:00	ReturnTs
Tax Period End	2016-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	FTI Consulting Inc	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	750 Third Avenue	AddressLine1Txt
City	New York	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10017	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2016-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	471717577	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Bound Lotus Foundation Inc	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
In Care Of	% EDWARD GELLERT	InCareOfNm
Business Name Control	BOUN	BusinessNameControlTxt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	C/O Herrick Feinstein LLP 2 Park Av	AddressLine1Txt
City	New York	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10016	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	EDWARD GELLERT	PersonNm
Person Title	Director	PersonTitleTxt
Phone	9733640400	PhoneNum
Signature	2017-05-10	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Mark S Halpern	PreparerPersonNm
PTIN	P00395457	PTIN
Phone	9733640400	PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	65.118.222.116	IPv4AddressTxt

Field	Value	IRS element (for citing)
Federal Original Submission Id	20403020171325000028	FederalOriginalSubmissionId
Federal Original Submission Id	2017-05-12	FederalOriginalSubmissionIdDt
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	6A19D11591D1F0C8D5A6B310E5390284A967CABE	AtSubmissionCreationDeviceId
At Submission Filing Device Id	6A19D11591D1F0C8D5A6B310E5390284A967CABE	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2016	TaxYr
Build TS	2021-01-29 14:40:06Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$1,257	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$6,359	ContriRcvdRevAndExpnssAmt
Cap Gain Net Incm Net Invst Incm	$0	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$6,359	TotalRevAndExpnssAmt
Total Net Invst Incm	$0	TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$0	CompOfcrDirTrstRevAndExpnssAmt
Legal Fees Rev And Expnss	$1,105	LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm	$0	LegalFeesNetInvstIncmAmt
Legal Fees Adj Net Incm	$0	LegalFeesAdjNetIncmAmt
Legal Fees Dsbrs Chrtbl	$1,105	LegalFeesDsbrsChrtblAmt
Other Expenses Rev And Expnss	$5,102	OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl	$5,102	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$6,207	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm	$0	TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$6,207	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$0	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$0	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$6,207	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm	$0	TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl	$6,207	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$152	ExcessRevenueOverExpensesAmt
Net Investment Income	$0	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$0	CashBOYAmt
Cash EOY	$1,257	CashEOYAmt
Cash EOYFMV	$1,257	CashEOYFMVAmt
Total Assets BOY	$0	TotalAssetsBOYAmt
Total Assets EOY	$1,257	TotalAssetsEOYAmt
Total Assets EOYFMV	$1,257	TotalAssetsEOYFMVAmt
Loans From Officers BOY	$10,763	LoansFromOfficersBOYAmt
Loans From Officers EOY	$11,868	LoansFromOfficersEOYAmt
Total Liabilities BOY	$10,763	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$11,868	TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117	Yes (X)	OrgDoesNotFollowSFAS117Ind
Retained Earning BOY	-$10,763	RetainedEarningBOYAmt
Retained Earning EOY	-$10,611	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	-$10,763	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	-$10,611	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$0	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$1,257	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	-$10,763	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$152	ExcessRevenueOverExpensesAmt
Subtotal	-$10,611	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	-$10,611	TotNetAstOrFundBalancesEOYAmt

Field	Value	IRS element (for citing)
Cap Gains Loss Tx Invst Incm Detail		CapGainsLossTxInvstIncmDetail
Qlfy Und Sect4940e Reduced Tax		QlfyUndSect4940eReducedTaxGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$0	InvestmentIncomeExciseTaxAmt
Subtotal	$0	SubtotalAmt
Tax Based On Investment Income	$0	TaxBasedOnInvestmentIncomeAmt
Total Payments And Credits	$0	TotalPaymentsAndCreditsAmt
Tax Due	$0	TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Section4955 Organization Tax	$0	Section4955OrganizationTaxAmt
Tax Reimbursed	$0	TaxReimbursedAmt
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	false	Section508eRqrSatisfiedInd
At Least5000 In Assets	false	AtLeast5000InAssetsInd
Org Report Or Register State	NY	OrgReportOrRegisterStateCd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	false	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	EDWARD GELLERT	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	9733640400	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	C/O HERRICK FEINSTEIN LLP 2 PARK	AddressLine1Txt
City	New York	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10016	ZIPCd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Undistr Incm Sect4942a2 Not App	false	UndistrIncmSect4942a2NotAppInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Proceeds Or Net Income	false	ProceedsOrNetIncomeInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

Field	Value	IRS element (for citing)
Person	Edward Gellert	PersonNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	74 South Road	AddressLine1Txt
City	Harrison	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10528	ZIPCd

Field	Value	IRS element (for citing)
Title	Director	TitleTxt
Average Hrs Per Wk Devoted To Pos	0.0	AverageHrsPerWkDevotedToPosRt
Compensation	$0	CompensationAmt
Employee Benefit Program	$0	EmployeeBenefitProgramAmt
Expense Account Other Allwnc	$0	ExpenseAccountOtherAllwncAmt

Field	Value	IRS element (for citing)
Summary Of Direct Chrtbl Acty		SummaryOfDirectChrtblActyGrp
Sum Of Program Related Invst		SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$397	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$397	TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$397	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$6	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$391	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$20	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$20	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$0	TaxBasedOnInvestmentIncomeAmt
Total Tax	$0	TotalTaxAmt
Distributable Before Adj	$20	DistributableBeforeAdjAmt
Distributable Before Ded	$20	DistributableBeforeDedAmt
Distributable As Adjusted	$20	DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$6,207	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid	$0	CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test	$0	SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test	$0	SetAsideCashDistriTestAmt
Qualifying Distributions	$6,207	QualifyingDistributionsAmt
Adjusted Qualifying Distri	$6,207	AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$20	DistributableAsAdjustedAmt
Undistributed Income PY	$0	UndistributedIncomePYAmt
Prior Year1	2014	PriorYear1Yr
Prior Year2	2013	PriorYear2Yr
Prior Year3	2012	PriorYear3Yr
Total For Prior Years	$0	TotalForPriorYearsAmt
Excess Distribution Cyov Yr2	$4,004	ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1	$6,759	ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov	$10,763	TotalExcessDistributionCyovAmt
Qualifying Distributions	$6,207	QualifyingDistributionsAmt
Applied To Year1	$0	AppliedToYear1Amt
Applied To Current Year	$20	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$6,187	RemainingDistriFromCorpusAmt
Total Corpus	$16,950	TotalCorpusAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr	$16,950	ExcessDistriCyovToNextYrAmt
Excess From Year2	$4,004	ExcessFromYear2Amt
Excess From Year1	$6,759	ExcessFromYear1Amt
Excess From Current Year	$6,187	ExcessFromCurrentYearAmt

Field	Value	IRS element (for citing)
Private Operating Foundations		PrivateOperatingFoundationsGrp
Supplementary Information		SupplementaryInformationGrp

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Field	Value	IRS element (for citing)
Fees Contracts From Govt Ag		FeesContractsFromGovtAgGrp
Membership Dues And Assmnt		MembershipDuesAndAssmntGrp
Int On Sav And Temp Cash Invst		IntOnSavAndTempCashInvstGrp
Div And Int From Sec Part VII		DivAndIntFromSecPartVIIGrp
Net Rntl Incm Re Debt Fincd Prop		NetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd Prop		NetRntlIncmReNotDebtFincdProp
Net Rental Income Personal Prop		NetRentalIncomePersonalPropGrp
Other Investment Incm Part VII		OtherInvestmentIncmPartVIIGrp
Gain Sales Ast Oth Than Invntry		GainSalesAstOthThanInvntryGrp
Net Income Loss From Special Evt		NetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of Invntry		GrossProfitLossSlsOfInvntryGrp
Subtotals Incm Producing Acty		SubtotalsIncmProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
General Rule	Yes (X)	GeneralRuleInd

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	1	ContributorNum
Contributor Person	Edward Gellert	ContributorPersonNm

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	74 South Road	AddressLine1Txt
City	Harrison	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10528	ZIPCd

Field	Value	IRS element (for citing)
Total Contributions	$6,359	TotalContributionsAmt
Person Contribution	Yes (X)	PersonContributionInd

Depreciation Schedule DepreciationSchedule

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Field	Value	IRS element (for citing)
Category	LEGAL FEES	CategoryTxt
Legal Fees	$1,105	LegalFeesAmt
Disbursements Charitable Prps	$1,105	DisbursementsCharitablePrpsAmt

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp

Field	Value	IRS element (for citing)
Lender Person	LOAN FROM ED GELLERT	LenderPersonNm
Loan Original	$4,004	LoanOriginalAmt
Balance Due	$11,868	BalanceDueAmt
Note	2014-08	NoteDt
Loan Purpose	TO FUND LEGAL AND FILING FEES	LoanPurposeTxt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

Field	Value	IRS element (for citing)
Desc	EVENT EXPENSES	Desc
Revenue And Expenses Per Books	$5,102	RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps	$5,102	DisbursementsCharitablePrpsAmt

Bound Lotus Foundation Inc: Form 990PF, tax year 2016

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Preparer Person PreparerPersonGrp

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Form 990-PF IRS990PF

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Statements Regarding Acty StatementsRegardingActyGrp

Persons With Books Name PersonsWithBooksName

Location Of Books US Address LocationOfBooksUSAddress

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

US Address USAddress

Minimum Investment Return MinimumInvestmentReturnGrp

Distributable Amount DistributableAmountGrp

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Undistributed Income UndistributedIncomeGrp

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Contributor US Address ContributorUSAddress

Depreciation Schedule DepreciationSchedule

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Loans From Officers Schedule LoansFromOfficersSchedule

Loans From Officer LoansFromOfficerGrp

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

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