2011-11-03T17:40:04-05:00 2010-12-31 HARB LEVY & WEILAND LLP ONE MARKET LANDMARK SUITE 620 SAN FRANCISCO CA 941051522 990 2010-01-01 522351119 INDIA COMMUNITY CENTER INC INDI 4089341130 525 LOS COCHES STREET MILPITAS CA 95035 TANUJA BAHAL 4089341130 2011-11-01 1 ROBERT F LANE 4159746000 2010 2016-03-07 17:11:31Z TANUJA BAHAL 525 LOS COCHES STREET MILPITAS CA 95035 3328721 0 X WWW.INDIACC.ORG X 2000 DE THE CENTER PROMOTES INDIAN CULTURE AND VALUES. 23 17 113 150 0 0 1177282 1198864 2071698 2060628 125 418 0 -49185 3249105 3210725 0 0 0 0 1807743 1660001 0 0 203001 2517227 3019655 4324970 4679656 -1075865 -1468931 17940901 13317336 17082176 15737228 858725 -2419892 X THE INDIA COMMUNITY CENTER'S MISSION IS TO PROMOTE INDIAN CULTURE AND VALUES BY PROVIDING SOCIAL, CULTURAL, RECREATIONAL, AND COMMUNITY PROGRAMS THEREBY UNITING THE INDIAN COMMUNITY AND RAISING AWARENESS ABOUT INDIAN CULTURE IN THE LOCAL COMMUNITY. 0 0 1006248 436523 FITNESS AND WELLNESS - OFFERS MEMBERS THE FACILITY TO WORK OUT AND STAY FIT WITH THE USE OF EQUIPMENT AND PARTICIPATING IN GROUP EXERCISE CLASSES. 1019091 663093 COMMUNITY AND CULTURAL EVENTS WHICH BRING TOGETHER PEOPLE FROM DIFFERENT WALKS OF LIFE TO CELEBRATE THE DIVERSE CULTURE. 1426590 875862 YOUTH AND ADULT CLASSES FOR LANGUAGES, MUSIC, DANCE, SPORTS, ETC. THE CENTER ALSO CONDUCTS CULTURAL AND EDUCATIONAL CAMPS FOR YOUNG CHILDREN. 240884 85150 SOCIAL SERVICESTHE CENTER'S COMMITMENT TO COMMUNITY SERVICE IS BEST EXEMPLIFIED THROUGH A RANGE OF SERVICES OPEN TO THE ENTIRE COMMUNITY. THE ICC FREE MEDICAL CLINIC SERVICES ANYONE WITHOUT INSURANCE IN NEED OF MEDICAL ATTENTION. MORE THAN 400 SENIORS ENJOY YOGA, DANCING, LECTURES AND LUNCH FOUR TIMES A WEEK AT MILPITAS AND CUPERTINO THROUGH THE SENIOR PROGRAMS. THE LEGAL CLINIC AND CAREER RESOURCE CENTER GUIDE THOSE IN DIFFICULT TIMES WITH ADVICE AND SERVICE BY APPOINTMENT ON A WEEKLY BASIS. 240884 85150 3692813 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 X 79 0 1 113 1 0 0 0 0 0 0 0 0 X 23 17 1 0 0 0 0 0 0 1 1 0 0 1 0 0 0 1 1 0 CA X INDIA COMMUNITY CENTER 4089341130 525 LOS COCHES STREET MILPITAS CA 95035 NAREN BAKSHI 1.00 X 0 0 0 ANIL GODHWANI 1.00 X 0 0 0 GAUTAM GODHWANI 1.00 X 0 0 0 KUMAR MALAVALLI 1.00 X X 0 0 0 KANWAL REKHI 1.00 X 0 0 0 STEVE WESTLY 1.00 X 0 0 0 MANISH CHANDRA 1.00 X 0 0 0 VENKY GANESAN 1.00 X X 0 0 0 NAVNEET CHUGH 1.00 X 0 0 0 BV JAGADEESH 1.00 X 0 0 0 BALA JOSHI 1.00 X X 0 0 0 JAG KAPOOR 1.00 X 0 0 0 ANMOL MAHAL 1.00 X 0 0 0 VIBHU MITTAL 1.00 X 0 0 0 RAJU REDDY 1.00 X 0 0 0 ALAN SATALOFF 1.00 X 0 0 0 R PAUL SINGH 1.00 X 0 0 0 ASHOK VAISH 1.00 X 0 0 0 AG KARUNAKARAN 1.00 X 0 0 0 RADHIKA MALPANI 1.00 X 0 0 0 MARIO VARGAS 1.00 X 0 0 0 TALAT HASAN 1.00 X 0 0 0 SHEENA VAIDYANATHAN 1.00 X 0 0 0 SESHAN RAMMOHAN 40.00 X 51000 0 0 SHARAD DADBHAWALA 32.00 X 93575 0 5028 TANUJA BAHAL 40.00 X 96565 0 0 241140 0 5028 0 0 0 0 0 326220 21400 851244 91561 1198864 PROGRAMS AND EVENTS 812900 875862 875862 BANQUETS AND CAFE 812900 589823 589823 MEMBER DUES AND SERVIC 812900 436523 436523 SOCIAL SERVICES 812900 85150 85150 SPECIAL EVENTS 812900 73270 73270 2060628 418 418 68811 326220 117996 -49185 -49185 3210725 2060628 0 -48767 241140 120570 108513 12057 1233419 957428 187529 88462 44241 34342 6726 3173 141201 109606 21468 10127 4094 4094 32002 32002 36150 36150 26244 26244 70068 32166 34242 3660 54571 43565 10366 640 415779 363771 52008 792617 633812 158805 624245 534031 90214 19927 14846 5081 PROGRAM-RELATED EXPENSE 704062 623696 80366 SOCIAL SERVICES 74529 74529 BANK CHARGES 71610 60781 10400 429 MEMBERSHIP 47217 47217 GRANT / FUNDRAISING EXP 46540 42453 4087 4679656 3692813 783842 203001 240564 24345 692526 301363 4174455 1018745 55425 22397 16937 295 14820785 2881259 12457442 11939526 294543 9009 10665 17940901 13317336 225791 321708 259143 289251 15500000 11740500 255000 2913500 350000 842242 122269 17082176 15737228 X -3249101 -3378239 4107826 958347 858725 -2419892 17940901 13317336 X -1468931 -1809686 X X 0 1 1 X 0 X 3984225 3214063 2071669 1177281 1198864 11646102 3984225 3214063 2071669 1177281 1198864 11646102 5969989 5676113 23426 118603 18482 125 418 161054 11807156 0.48070 0.46090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1924493 1924493 11663375 1696676 9966699 1232917 1184583 48334 11939526 CAPITAL LEASE OBLIGATION 2743 INTEREST PAYABLE 119526 122269 3210725 4679656 -1468931 -1809686 -1809686 -3278617 3328721 0 3328721 -117996 -117996 3210725 4850989 171333 171333 4679656 0 4679656 THE CENTER IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE TAXATION CODE. MANAGEMENT HAS CONCLUDED THAT THE CENTER IS NOT SUBJECT TO INCOME TAXES IN ANY JURISDICTION AND THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. IF THE CENTER WERE TO INCUR AN INCOME TAX LIABILITY IN THE FUTURE, INTEREST ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INTEREST EXPENSE AND PENALTIES ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INCOME TAXES. MANAGEMENT'S CONCLUSIONS REGARDING UNCERTAIN TAX POSITIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED UPON ONGOING ANALYSES OF TAX LAWS, REGULATIONS AND INTERPRETATIONS THEREOF AS WELL AS OTHER FACTORS. WITH FEW EXCEPTIONS, THE CENTER IS NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR YEARS BEFORE 2006. X ANNUAL FUNDRAISER 325737 298737 27000 56742 EID CELEBRATION 22848 12698 10150 23999 3 46446 14785 31661 37255 395031 326220 68811 117996 117996 -49185 ANIL AND JYOTI GODHWANI FINANCING X 1956750 1956750 0 1 1 GAUTAM GODHWANI FINANCING X 1956750 1956750 0 1 1 BV JAGADEESH FINANCING X 1956750 1956750 0 1 1 TALAT HASAN FINANCING X 1956750 1956750 0 1 1 VIBHU MITTAL FINANCING X 1956750 1956750 0 1 1 KANWAL REKHI FINANCING X 1956750 1956750 0 1 1 11740500 X 4 36224 FAIR MARKET VALUE X 1 12819 FAIR MARKET VALUE 0 0 0 FROM 990 PART V, LINES 7G & 7H COMPLIANCE WITH OTHER FILING REQUIREMENTS THE ORGANIZATION DID NOT RECEIVE ANY CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY NOR ANY CARS, BOATS AIRPLANES OR OTHER VEHICLES. AS SUCH, NO FORMS 8899 NOR 1098-C WERE REQUIRED TO BE FILED. FORM 990, PART VI, SECTION A, LINE 2 ANIL GODHWANI, TRUSTEE, AND GAUTAM GODHWANI, TRUSTEE, ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S EXECUTIVE DIRECTOR AND THE DIRECTOR OF FINANCE FOR COMPLETENESS AND ACCURACY. THE SAME IS THEN CIRCULATED TO THE MEMBERS OF THE BOARD OF DIRECTORS AND THE TRUSTEES FOR THEIR REVIEW AND COMMENTS. THE FORM IS THEN FILED AFTER INCORPORATING CHANGES, IF ANY. FORM 990, PART VI, SECTION B, LINE 12 ALL CONTRACTS, ARRANGEMENTS AND COMMITMENTS INVOLVING INTEREST OF ANY STAFF OR BOARD MEMBER ARE REVIEWED BY THE EXECUTIVE DIRECTOR ALONG WITH THE DIRECTOR OF FINANCE TO MAKE SURE THAT THE CONTRACT, ARRANGEMENT OR COMMITMENT IS AT ARM'S LENGTH. THE ORGANIZATION HAS INITIATED THE PROCESS OF DEVELOPING A FORMAL WRITTEN CONFLICT OF INTEREST POLICY AND MONITORING PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15 APPOINTMENT AND COMPENSATION CHANGES FOR ALL OFFICERS AND KEY EMPLOYEES ARE PROCESSED AND REVIEWED BY A GROUP OF DIRECTORS LED BY THE CO-PRESIDENTS OF THE BOARD. THERE ARE NO BOARD MEMBERS TO WHOM ANY KIND OF COMPENSATION IS PAID. THE SELECTION AND APPOINTMENT OF THE EXECUTIVE DIRECTOR IS FINALIZED BY A GROUP OF DIRECTORS LED BY THE CO-PRESIDENT OF THE BOARD. COMPENSATION IS DETERMINED ON THE BASIS OF THE NATURE OF THE JOB, THE SKILL SETS AND THE EXPERIENCE OF THE PERSON, AND SURVEY OF OTHER SIMILAR ORGANIZATIONS WHOSE COMPENSATION INFORMATION IS IN THE PUBLIC DOMAIN. COMPENSATION OF KEY EMPLOYEES IS DETERMINED BY THE EXECUTIVE DIRECTOR IN CONSULTATION WITH A GROUP OF DIRECTORS AND THE DIRECTOR OF FINANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -53,337. TEMPORARILY RESTRICTED PLEDGES WITHDRAWN -1,756,349. TOTAL TO FORM 990, PART XI, LINE 5: -1,809,686. FROM 990 PAGE 12 PART XI LINE 2C AUDIT OVERSIGHT THE AUDIT COMMITTEE IS RESPONSIBLE FOR MAKING RECOMMENDATIONS TO THE BOARD REGARDING THE SELECTION AND RETENTION OF INDEPENDENT AUDITORS TO CONDUCT THE ANNUAL AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS. THE AUDIT COMMITTEE IS ALSO RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT, CONFERRING WITH THE AUDITOR REGARDING THE RESULTS OF THE AUDIT, APPROVAL OF THE AUDIT REPORT AND APPROVAL OF ANY NON-AUDIT SERVICES TO BE PROVIDED BY THE AUDIT FIRM. THIS PROCESS IS THE SAME AS IT WAS IN THE PRIOR YEAR. FROM 990, PART VI, LINES 13 AND 14 WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES THE ORGANIZATION IS IN THE PROCESS OF DEVELOPING A FORMAL WRITTEN WHISTLEBLOWER POLICY AND A DOCUMENT RETENTION AND DESTRUCTION POLICY.