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VARSHNEY CHARITABLE FOUNDATION INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
VARSHNEY CHARITABLE FOUNDATION INC (EIN 83-1578581)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-03-11
IRS object ID
202120709349100602
Schema version
2020v4.0
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)
Return2021-03-11T10:18:19-00:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt
Return Type990PFReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN831578581EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1VARSHNEY CHARITABLE FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlVARSBusinessNameControlTxt
Phone8303221380PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1300 S 5TH STAddressLine1Txt
CityCARRIZO SPRINGSCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78834ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDR DEVENDRA K VARSHNEYPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone8303221380PhoneNum
Signature2021-03-07SignatureDt
Discuss With Paid PreparerfalseDiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstDr Devendra VarshneyPersonFirstNm
Person LastPresidentPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$652,955FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$366,772ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$12InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$12InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$5,146DividendsRevAndExpnssAmt
Dividends Net Invst Incm$5,146DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$29,217NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$39,185GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$29,217CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$401,147TotalRevAndExpnssAmt
Total Net Invst Incm$34,375TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$650AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$325AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps$325AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$772TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$125OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$125OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$1,547TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$325TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$450TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$6,600ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$6,600ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$8,147TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$325TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$7,050TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$393,000ExcessRevenueOverExpensesAmt
Net Investment Income$34,050NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$2,250CashBOYAmt
Cash EOY$5,328CashEOYAmt
Cash EOYFMV$5,328CashEOYFMVAmt
Sav And Temp Cash Invst BOY$3,477SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$17,488SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$17,488SavAndTempCashInvstEOYFMVAmt
Prepaid Expenses EOY$775PrepaidExpensesEOYAmt
Prepaid Expenses EOYFMV$775PrepaidExpensesEOYFMVAmt
Corporate Stock BOY$186,468CorporateStockBOYAmt
Corporate Stock EOY$260,051CorporateStockEOYAmt
Corporate Stock EOYFMV$629,364CorporateStockEOYFMVAmt
Total Assets BOY$192,195TotalAssetsBOYAmt
Total Assets EOY$283,642TotalAssetsEOYAmt
Total Assets EOYFMV$652,955TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$75,033CapitalStockBOYAmt
Capital Stock EOY$140,252CapitalStockEOYAmt
Retained Earning BOY$117,162RetainedEarningBOYAmt
Retained Earning EOY$143,390RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$192,195TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$283,642TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$192,195TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$283,642TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$192,195TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$393,000ExcessRevenueOverExpensesAmt
Subtotal$585,195SubtotalAmt
Other Decreases$301,553OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$283,642TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
Property500 SHARES YUM CHINA HLDGSPropertyDesc
How AcquiredDHowAcquiredCd
Sold2020-07-13SoldDt
Gross Sales Price$25,999GrossSalesPriceAmt
Cost Or Other Basis$9,968CostOrOtherBasisAmt
Gain Or Loss$16,031GainOrLossAmt
Gains Minus Excess Or Losses$16,031GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$29,217CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$473InvestmentIncomeExciseTaxAmt
Subtotal$473SubtotalAmt
Tax Based On Investment Income$473TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$775EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$775TotalPaymentsAndCreditsAmt
Original Return Tax Paid$775OriginalReturnTaxPaidAmt
Overpayment$302OverpaymentAmt
Applied To ES Tax$302AppliedToESTaxAmt

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
Org Report Or Register StateTXOrgReportOrRegisterStateCd
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
Individual With BooksDR DEVENDRA K VARSHNEYIndividualWithBooksNm
Phone8303221380PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1305 SOUTH 5TH STAddressLine1Txt
CityCARRIZO SPRINGSCityNm
State AbbreviationTXStateAbbreviationCd
ZIP788343802ZIPCd
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
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
DR DEVENDRA K VARSHNEY
300 S 5TH STCARRIZO SPRINGSTX78834PRESIDENT002.00$0
DR MAYA VARSHNEY
300 S 5TH STCARRIZO SPRINGSTX78834V ICE PRESIDENT001.00$0
DR POOJA VARSHNEY
300 S 5TH STCARRIZO SPRINGSTX78834SECRETARY001.00$0
DR DEEPA VARSHNEY
300 S 5TH STCARRIZO SPRINGSTX78834TREASURER001.00$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt
Expenses1$0Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$296,786AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$13,530AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$310,316TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$310,316AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$4,655CashDeemedCharitableAmt
Net Vl Noncharitable Assets$305,661NetVlNoncharitableAssetsAmt
Minimum Investment Return$15,283MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$15,283MinimumInvestmentReturnAmt
Tax Based On Investment Income$473TaxBasedOnInvestmentIncomeAmt
Total Tax$473TotalTaxAmt
Distributable Before Adj$14,810DistributableBeforeAdjAmt
Distributable Before Ded$14,810DistributableBeforeDedAmt
Distributable As Adjusted$14,810DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$7,050ExpensesAndContributionsAmt
Qualifying Distributions$7,050QualifyingDistributionsAmt
Adjusted Qualifying Distri$7,050AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$14,810DistributableAsAdjustedAmt
Undistributed Income PY$3,497UndistributedIncomePYAmt
Qualifying Distributions$7,050QualifyingDistributionsAmt
Applied To Year1$3,497AppliedToYear1Amt
Applied To Current Year$3,553AppliedToCurrentYearAmt
Undistributed Income CY$11,257UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerDR DEVENDRA K VARSHNEYContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
TEXAS STATE UNIVERSITY
601 UNIVERSITY DRSAN MARCOSTX78666N/APCSCHOLARSHIP$1,000
UNIVERSITY OF TEXAS SAN ANTONIO
1 UTSA CIRCLESAN ANTONIOTX78249N/APCSCHOLARSHIP$1,000
JOCELYN CARRIZALES
P O BOX 74ASHERTONTX78827NONEISCHOLARSHIP$1,000
NAYELI GARCIA
943 N 12 AVENUECRYSTAL CITYTX78839NONEISCHOLARSHIP$500
BETHANI RODRIGUEZ
524 MUSQUIZ RDCRYSTAL CITYTX78839NONEISCHOLARSHIP$500
BREANNA GARZA
1500 BRYAN STCARRIZO SPRINGSTX78834NONEISCHOLARSHIP$500
EMMA MALDONADO
1092 FM 186CARRIZO SPRINGSTX78834NONEISCHOLARSHIP$500
SELENA LOPEZ
P O BOX 831CARRIZO SPRINGSTX78834NONEISCHOLARSHIP$1,000
CAMILA MONCADA
1202 E VALVERDECRYSTAL CITYTX78839NONEISCHOLARSHIP$500
BELMA VASQUEZ
1702 N 17TH APT 830CARRIZO SPRINGSTX78834NONEIMEDICAL ASSISTANCE$100
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$6,600TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$12ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$5,146ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$29,217ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$34,375ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$34,375TotalIncomeProducingActyAmt

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 PersonDR DEVENDRA K VARSHNEYContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1305 SOUTH 5TH STAddressLine1Txt
CityCARRIZO SPRINGSCityNm
State AbbreviationTXStateAbbreviationCd
ZIP788343802ZIPCd
FieldValueIRS element (for citing)
Total Contributions$367,562TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp (4 entries)

ContributorContributorNumNoncash PropertyNoncashPropertyDescFair Market ValueFairMarketValueAmtReceivedReceivedDt
11000 SHS YUM CHINA HOLDINGS$50,7002020-06-08
1560 SHS VANGUARD TAX MANAGED CAP APPREC$99,6412020-09-04
1700 SHS VANGUARD TAX MANAGED CAP APPREC$123,9562020-10-26
1500 SHS VANGUARD TAX MANAGED CAP APPREC$92,4752020-11-09

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryJOY REINER, CPACategoryTxt
Amt$650Amt
Net Investment Income$325NetInvestmentIncomeAmt
Disbursements Charitable Prps$325DisbursementsCharitablePrpsAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (6 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
378 shares of VANGUARD CAPITAL OPPTY INVESTOR$61,290$67,152
389 shares of VANGUARD PRIMECAP INVESTOR CL$55,147$59,887
825 shares of VANGUARD WELLINGTON ADMIRAL CL$60,456$63,209
562 shares of YUM BRANDS INC$26,278$61,057
501 shares of YUM CHINA HOLDINGS$9,768$28,604
1768 shares of VANGUARD TAX MANAGED CAPITAL APPR$47,112$349,455

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescADJUSTMENT OF DONATED STOCK TO COST BASISDesc
Amt$301,553Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EVALUATION FEES$100$100
BANK FEES$25$25

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonDR DEVENDRA K VARSHNEYPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1305 SOUTH 5TH STAddressLine1Txt
CityCARRIZO SPRINGSCityNm
State AbbreviationTXStateAbbreviationCd
ZIP788343802ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXCategoryTxt
Amt$772Amt