Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
DR BHORADE FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)450 MAY STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ELMHURST, IL60126
A Employer identification number

27-3761233
B Telephone number (see instructions)

(630) 279-6127
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$840,048J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 19 19 19
4 Dividends and interest from securities... 2,858 2,858 2,858
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 74,451
b Gross sales price for all assets on line 6a 796,152
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 77,328 2,877 2,877
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 250     250
b Accounting fees (attach schedule)....... Click to see attachment 1,500     1,500
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 50     25
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,800 0   1,775
25 Contributions, gifts, grants paid....... 30,140 30,140
26 Total expenses and disbursements. Add lines 24 and 25 31,940 0   31,915
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 45,388
b Net investment income (if negative, enter -0-) 2,877
c Adjusted net income (if negative, enter -0-)... 2,877
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 96,297 71,724 71,724
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 544,066 Click to see attachment768,324 768,324
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 640,363 840,048 840,048
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 640,363 840,048
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 640,363 840,048
30 Total liabilities and net assets/fund balances (see instructions). 640,363 840,048
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
640,363
2
Enter amount from Part I, line 27a .....................
2
45,388
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
154,297
4
Add lines 1, 2, and 3 ..........................
4
840,048
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
840,048
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1a
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2  
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 40
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 40
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 40
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a  
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 40
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIL
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletMARUTI BHORADE Telephone no.bullet (630) 279-6127

    Located atbullet450 MAY STREETELMHURSTIL ZIP+4bullet60126
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    MARUTI S BHORADE PRESIDENT
    000.00     		0 0 0
    450 MAY STREET
    ELMHURST,IL60126
    SUMAN M BHORADE VICE PRESIDE
    000.00     		0 0 0
    450 MAY STREET
    ELMHURST,IL60126
    SANGEETA M BHORADE DIRECTOR
    000.00     		0 0 0
    440 N MCCLURG COURT
    CHICAGO,IL60611
    RAJEEV M BHORADE DIRECTOR
    000.00     		0 0 0
    324 OAK BROOK ROAD
    OAK BROOK,IL60523
    ANJALI M BHORADE DIRECTOR
    000.00     		0 0 0
    7300 FORSYTH BLVD
    ST LOUIS,MO63105
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    514,908
    b
    Average of monthly cash balances.......................
    1b
    80,888
    c
    Fair market value of all other assets (see instructions)................
    1c
    96,785
    d
    Total (add lines 1a, b, and c).........................
    1d
    692,581
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    692,581
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    10,389
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    682,192
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    34,110
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    34,110
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    40
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    40
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    34,070
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    34,070
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    34,070
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    31,915
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    31,915
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    31,915
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 34,070
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019...... 1,450
    fTotal of lines 3a through e........ 1,450
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 31,915
    a Applied to 2019, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2020 distributable amount..... 31,915
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2020. 1,450 1,450
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		705
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    DR MARUTI S BHORADE
    450 MAY STREET
    ELMHURST,IL60126
    (630) 279-6127
    bThe form in which applications should be submitted and information and materials they should include:
    PC
    cAny submission deadlines:
    DECEMBER 31ST OF EACH YEAR
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    GRANTS GIVEN BY THE FOUNDATION WILL ONLY BE GIVEN TO ORGANIZATIONS EXEMPT UNDER 501(C)(3) THAT PROVIDE FUNDS AND SERVICES FOR THE FOLLOWING CAUSES: 1) HEALTHCARE IMPROVEMENT THROUGH CLINICAL RESEARCH, 2) EDUCATION SCHOLARSHIPS FOR GRADE SCHOOL STUDENTS UP TO POST-GRADUATE STUDIES AND 3) SOCIAL PUBLIC IMPROVEMENT.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    FRIENDS OF THE ELMHURST PUBLIC
    LIBRARY
    125 S PROSPECT AVENUE
    ELMHURST,IL60126     		N/A CHARITABLE READING PROGRAMS 2,000
    WASHINGTON UNIVERSITY IN ST LOUIS
    SCHOOL OF MEDICINE
    CAMPUS BOX 1192
    ONE BROOKINGS DRIVE
    ST LOUIS,MO63130     		N/A CHARITABLE GLAUCOMA RESEARCH 5,000
    ADVOCATE GOOD SAMARITAN HOSPITAL
    3815 HIGHLAND AVE
    DOWNERS GROVE,IL60515     		N/A CHARITABLE CANCER CENTER 10,000
    FORSYTH SCHOOL
    6235 WYDOWN BOULEVARD
    ST LOUIS,MO63105     		N/A CHARITABLE EDUCATIONAL PURPOSES 3,000
    AMERICAN COLLEGE OF PHYSICIANS
    190 N INDEPENDENCE MALL W
    PHILADELPHIA,PA19106     		N/A CHARITABLE MEDICAL EDUCATIONAL PURPOSES 1,000
    SALVATION ARMY
    5040 N PULASKI ROAD
    CHICAGO,IL60630     		N/A CHARITABLE SOCIAL PROGRAMS 2,200
    WTTW
    5400 N SAINT LOUIS AVE
    CHICAGO,IL60625     		N/A CHARITABLE PUBLIC PROGRAMMING 1,200
    VFW
    5031 W MONTROSE AVE
    CHICAGO,IL60641     		N/A CHARITABLE SOCIAL PROGRAMS FOR VETERANS 90
    UNITED STATES DEPUTY SHERIFF ASSOC
    2909 S SPRUCE
    WICHITA,KS67216     		N/A CHARITABLE TRAINING 75
    KIDS WISH NETWORK
    4060 LOUIS AVE
    HOLIDAY,FL34691     		N/A CHARITABLE SOCIAL PROGRAMS 30
    BOYS TOWN
    14100 CRAWFORD ST
    BOYS TOWN,NE68010     		N/A CHARITABLE SOCIAL PROGRAMS 100
    ST JOSEPH'S INDIAN SCHOOL
    PO BOX 326
    CHAMBERLAIN,SD57326     		N/A CHARITABLE EDUCATIONAL GRANT 100
    WOUNDED WARRIOR PROJECT
    4899 BELFORT ROAD
    SUITE 300
    JACKSONVILLE,FL32256     		N/A CHARITABLE SOCIAL PROGRAMS 30
    AARP FOUNDATION
    601 E STREET NW
    WASHINGTON,DC20049     		N/A CHARITABLE SENIOR SOCIAL PROGRAMS 1,100
    ELMHURST PARK DISTRICT
    375 W FIRST STREET
    ELMHURST,IL60126     		N/A CHARITABLE SOCIAL PROGRAMS 2,000
    MACULAR DEGENERATION RESEARCH
    22512 GATEWAY CENTER DRIV
    CLARKSBURG,MD20871     		N/S CHARITABLE MEDICAL RESEARCH 1,050
    AAUW
    1310 L ST NW
    SUITE 1000
    WASHINGTON,DC20005     		N/A CHARITABLE WOMEN'S SOCIAL PROGRAMS 1,000
    MAYO CLINIC
    200 FIRST STREET SW
    ROCHESTER,MN55905     		N/A CHARITABLE MEDICAL PROGRAMS 15
    NATIONAL LAW ENFORCEMENT OFFICERS
    MEMORIAL FUND
    444 E STREET NW
    WASHINGTON,DC20001     		N/A CHARITABLE SOCIAL PROGRAMS 25
    LAW ENFOCEMENT OFFICERS RELIEF FUND
    5824 BEE RIDGE ROAD
    233
    SARASOTA,FL34233     		N/A CHARITABLE SOCIAL WELFARE ORGANIZATION 75
    NATIONAL PARK CONSERVATION ASSN
    777 6TH STREET NW
    SUITE 700
    WASHINGTON,DC20001     		N/A CHARITABLE SOCIAL PROGRAMS 25
    ELMHURST POLICE BENEV ATHLETIC
    125 E 1ST STREET
    ELMHURST,IL60126     		N/A CHARITABLE SOCIAL WELFARE ORGANIZATION 25
    Total .................................bullet 3a 30,140
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		        19
    4 Dividends and interest from securities....         2,858
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		        74,451
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..     77,328
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    77,328
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    DR BHORADE FAMILY FOUNDATION
    EIN:
    27-3761233
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 1,500     1,500

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2020 GainLossSaleOtherAssetsSch
    Name:
    DR BHORADE FAMILY FOUNDATION
    EIN:
    27-3761233
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    200 SHS. BOOZ ALLEN HAMILTON 2019-12 PURCHASE 2020-02   15,218 13,990     1,228  
    200 SHS. BOOZ ALLEN HAMILTON 2020-02 PURCHASE 2020-02   14,284 15,495     -1,211  
    200 SHS. ISHARES EDGE MSCI USA 2019-01 PURCHASE 2020-02   25,712 19,997     5,715  
    100 SHS. ISHRS EDG MSCI USA QLTY 2019-12 PURCHASE 2020-02   9,737 9,801     -64  
    100 SHS. TECHNOLOGY SELECT SECTOR 2019-11 PURCHASE 2020-02   9,276 8,778     498  
    201.1573 SHS. ISHARES GLOBAL TECH ET   PURCHASE 2020-03   40,251 38,812     1,439  
    100.872 SHS. ISHARS EDG MSCI US QLTY 2019-12 PURCHASE 2020-03   8,684 10,048     -1,364  
    203.1385 SHS. ISHARES EDGE MSCI USA   PURCHASE 2020-03   18,923 26,006     -7,083  
    301.4199 SHS. PEPSICO INC   PURCHASE 2020-03   35,305 37,488     -2,183  
    200 SHS. TECHNOLOGY SELECT SECTOR   PURCHASE 2020-03   15,964 18,038     -2,074  
    100.49 SHS. VANGUARD TOTAL STOCK 2020-03 PURCHASE 2020-04   12,446 12,999     -553  
    200 SHS. VANECK VECTORS 2020-03 PURCHASE 2020-04   24,063 26,030     -1,967  
    300 SHS. VANECK VECTORS   PURCHASE 2020-04   38,474 35,596     2,878  
    500 SHS. WELLS FARGO BK NA   PURCHASE 2020-04   15,105 13,833     1,272  
    500 SHS. COCA-COLA CO   PURCHASE 2020-04   22,919 22,607     312  
    20 SHS. ALPHABET INC 2017-07 PURCHASE 2020-04   24,880 9,456     15,424  
    150 SHS. VANGUARD SMALL CAP ETF 2020-05 PURCHASE 2020-05   18,903 20,335     -1,432  
    200 SHS. AKAMAI TECHNOLOGIES INC 2020-04 PURCHASE 2020-06   20,623 20,498     125  
    500 SHS. DAVITA INC 2010-12 PURCHASE 2020-06   44,214 17,500     26,714  
    300 SHS. VERIZON COMMUNICATN 2020-05 PURCHASE 2020-06   16,803 16,224     579  
    300 SHS. CARDINAL HEALTH INC 2020-04 PURCHASE 2020-07   15,556 14,733     823  
    400 SHS. SYSCO CORP   PURCHASE 2020-07   21,566 21,782     -216  
    200 SHS. L3HARRIS TECHNOLOGIES   PURCHASE 2020-07   34,433 35,696     -1,263  
    20 SHS. INVESCO QQQ TRUST 2019-04 PURCHASE 2020-07   5,141 3,820     1,321  
    300 SHS. NIKE INC   PURCHASE 2020-07   28,907 28,597     310  
    200 SHS. VMWARE INC   PURCHASE 2020-07   27,930 29,033     -1,103  
    200 SHS. CHEGG INC 2020-07 PURCHASE 2020-08   16,274 14,022     2,252  
    300 SHS. INVESCO AEROSPACE & 2020-07 PURCHASE 2020-08   17,382 16,500     882  
    100 SHS. ANTHEM INC 2020-07 PURCHASE 2020-09   27,342 26,788     554  
    18 SHS. INVESCO QQQ TRUST 2019-04 PURCHASE 2020-09   4,974 3,438     1,536  
    18 SHS. SPDR DOW JONES 2020-04 PURCHASE 2020-09   5,013 3,801     1,212  
    23 SHS. VANGUARD S&P 500 ETF 2020-03 PURCHASE 2020-09   7,114 5,493     1,621  
    20 SHS. INVESCO QQQ TRUST 2019-04 PURCHASE 2020-09   5,487 3,820     1,667  
    18 SHS. SPDR DOW JONES 2020-04 PURCHASE 2020-09   4,992 3,801     1,191  
    15 SHS. VANGUARD S&P 500 ETF 2020-03 PURCHASE 2020-09   4,629 3,582     1,047  
    200 SHS. WILLIAMS SONOMA 2020-09 PURCHASE 2020-09   17,152 17,929     -777  
    200 SHS. ABBVIE INC 2020-09 PURCHASE 2020-10   16,992 17,589     -597  
    500 SHS. DAVITA INC 2010-12 PURCHASE 2020-11   52,596 17,500     35,096  
    400 SHS. BOISE CASCADE CO   PURCHASE 2020-11   16,096 17,581     -1,485  
    300 SHS. BRISTOL-MYERS SQUIBB   PURCHASE 2020-12   18,003 17,717     286  
    10 CALL DAVITA INC EXP 4/17/20 2019-11 PURCHASE 2020-01   2,494 3,686     -1,192  
    2 CALL AKAMAI TECH EXP 11/27/20 2020-11 PURCHASE 2020-10   399       399  
    10 CALL DAVITA INC EXP 07/17/20 2020-02 PURCHASE 2020-01   6,518 16,112     -9,594  
    20 CALL DAVITA EXPIRED 2020-07 PURCHASE 2020-02   3,588       3,588  
    5 CALL DAVITA INC 2020-11 PURCHASE 2020-11   1,247 3,753     -2,506  
    5 CALL DAVITA INC 2020-11 PURCHASE 2020-11   2,543 1,397     1,146  

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    DR BHORADE FAMILY FOUNDATION
    EIN:
    27-3761233
    Name of Stock End of Year Book Value End of Year Fair Market Value
    SHARES OF DAVITA INC 352,200 352,200
    SHARES OF ALPHABET INC 70,106 70,106
    SHARES OF AMAZON COM INC 162,847 162,847
    SHARES OF BOOZ ALLEN HAMILTON    
    SHARES OF PEPSICO INC    
    INVESCO QQQ TRUST 29,229 29,229
    ISHARES EDGE MSCI USA    
    ISHARES GLOBAL TECH ETF    
    ISHARS EDG MSCI USA QLTY    
    TECHNOLOGY SELECT SECTOR    
    SHARES OF AKAMAI TECHNOLOGIES 20,998 20,998
    SHARES OF APPLIED MATERIALS 25,955 25,955
    SHARES OF BOEING CO 42,812 42,812
    SHARES OF MDU RESOURCES 7,902 7,902
    SPDR DOW JONES 27,655 27,655
    VANGUARD S&P 500 ETF 28,620 28,620

    TY 2020 LegalFeesSchedule
    Name:
    DR BHORADE FAMILY FOUNDATION
    EIN:
    27-3761233
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 250     250


    TY 2020 OtherIncreasesSchedule
    Name:
    DR BHORADE FAMILY FOUNDATION
    EIN:
    27-3761233
    Description Amount
    INCREASE IN UNREAL. GAIN 154,297


    TY 2020 TaxesSchedule
    Name:
    DR BHORADE FAMILY FOUNDATION
    EIN:
    27-3761233
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEES 25     25
    FEDERAL TAXES 25