Civic Intelligence

Lotus Endowment Fund Inc.

990 • Fiscal year 2020 • EIN 92-0233563

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 22, 2021

Organization ProfileWWW.LOTUSENDOWMENT.ORG
3921 Alton Road 470Miami Beach, FL 33140

(305) 613-1573

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.61x

Higher debt load relative to assets than 77% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

14.10x

Higher debt load relative to revenue than 97% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

72nd percentile

14%

Higher net margin than 72% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

35th percentile

2.3%

Faster asset growth than 35% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

74%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$43,201,245

Up $976,888 (+2.3%) from 2019

Net Assets

Up

$16,643,119

Up $1,280,710 (+8.3%) from 2019

Liabilities

Down

$26,558,126

Down $303,822 (-1.1%) from 2019

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin72nd percentile

Revenue

Up

$1,884,074

Up $803,224 (+74%) from 2019

Expenses

Down

$1,612,228

Down $183,828 (-10%) from 2019

Net Income

Up

$271,846

Up $987,052 (+138%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $3,297,752Liabilities 2010: $50Net Assets 2010: $3,297,7022010Assets 2011: $3,529,381Liabilities 2011: $0Net Assets 2011: $3,529,3812011Assets 2012: $4,040,541Liabilities 2012: $0Net Assets 2012: $4,040,5412012Assets 2013: $4,591,284Liabilities 2013: $79,170Net Assets 2013: $4,512,1142013Assets 2014: $5,480,511Liabilities 2014: $0Net Assets 2014: $5,480,5112014Assets 2015: $5,426,082Liabilities 2015: $35,680Net Assets 2015: $5,390,4022015Assets 2016: $33,365,913Liabilities 2016: $26,540,562Net Assets 2016: $6,825,3512016Assets 2017: $41,108,764Liabilities 2017: $27,845,188Net Assets 2017: $13,263,5762017Assets 2018: $42,850,608Liabilities 2018: $27,483,987Net Assets 2018: $15,366,6212018Assets 2019: $42,224,357Liabilities 2019: $26,861,948Net Assets 2019: $15,362,4092019Assets 2020: $43,201,245Liabilities 2020: $26,558,126Net Assets 2020: $16,643,1192020Assets 2021: $47,005,317Liabilities 2021: $29,526,541Net Assets 2021: $17,478,7762021Assets 2022: $68,843,457Liabilities 2022: $45,910,013Net Assets 2022: $22,933,4442022Assets 2023: $101,694,053Liabilities 2023: $66,542,545Net Assets 2023: $35,151,5082023Assets 2024: $107,409,587Liabilities 2024: $68,945,667Net Assets 2024: $38,463,9202024

Highlighted filing

2020

Assets$43,201,245
Liabilities$26,558,126
Net Assets$16,643,119
Open 2020 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $33,9052010Expenses 2011: $76,0892011Expenses 2012: $63,0702012Revenue 2013: $702,787Expenses 2013: $309,174Net Income 2013: $393,6132013Revenue 2014: $1,316,991Expenses 2014: $87,140Net Income 2014: $1,229,8512014Revenue 2015: $285,247Expenses 2015: $87,940Net Income 2015: $197,3072015Revenue 2016: $2,557,399Expenses 2016: $1,043,664Net Income 2016: $1,513,7352016Revenue 2017: $5,474,582Expenses 2017: $368,666Net Income 2017: $5,105,9162017Revenue 2018: $2,927,013Expenses 2018: $1,495,859Net Income 2018: $1,431,1542018Revenue 2019: $1,080,850Expenses 2019: $1,796,056Net Income 2019: -$715,2062019Revenue 2020: $1,884,074Expenses 2020: $1,612,228Net Income 2020: $271,8462020Revenue 2021: $1,449,247Expenses 2021: $1,924,248Net Income 2021: -$475,0012021Revenue 2022: $9,179,759Expenses 2022: $1,840,722Net Income 2022: $7,339,0372022Revenue 2023: $13,194,133Expenses 2023: $2,145,053Net Income 2023: $11,049,0802023Revenue 2024: $4,216,570Expenses 2024: $1,919,903Net Income 2024: $2,296,6672024

Highlighted filing

2020

Revenue$1,884,074
Expenses$1,612,228
Net Income$271,846
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 22, 2021
Return Version
2020v4.0
Gross Receipts
$1,884,074
Mission and Program Overview

Mission

The lotus endowment fund, inc. Is a 501(c)(3) supporting foundation for the sundari foundation, inc. And its initiatives, including the lotus house women's shelter. The endowment fund was formed to secure the financial stability and long-term viability of the sundari foundation, so the lotus house will serve as a resource for women, children and youth in need for generations to come. Part iii, line 1 lotus endowment fund, inc. Owns the facilities located at 2040 nw 7th ave, miami, fl 33127 and 420 nw 35th street, miami, fl 33127 and leases such facilities to the sundari foundation, inc. Pursuant to a 50 year lease at an annual rent of 1 per year. For 2020, the annual rental value of such facilities was approximately 162,000. Lotus village development, llc, a wholly owned subsidiary of lotus endowment fund, inc., owns the facilities located at 217 nw 15th street, miami, fl 33136 known as lotus village and leases such facilities to the sundari foundation, inc. Pursuant to a 35 year maste

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$29,024,839$28,140,012▼ $884,827
Investments in Publicly Traded Securities$5,851,428$10,124,680▲ $4,273,252
Pledges and Grants Receivable$3,814,940$2,997,846▼ $817,094
Cash and Non-Interest-Bearing Accounts$3,282,709$1,876,764▼ $1,405,945
Total Assets$42,224,357$43,201,245▲ $976,888
Other Assets Total$250,441$61,943▼ $188,498
Liabilities
Mortgage Notes Payable Secured by Investment Property$26,500,000$26,500,000→ $0
Accounts Payable and Accrued Expenses$348,948$55,439▼ $293,509
Other Liabilities$13,000$2,687▼ $10,313
Total Liabilities$26,861,948$26,558,126▼ $303,822
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,167,167$12,160,354▲ $1,993,187
Net Assets With Donor Restrictions$5,195,242$4,482,765▼ $712,477
Total Net Assets Fund Balance$15,362,409$16,643,119▲ $1,280,710
Total Liabilities and Net Assets / Fund Balance$42,224,357$43,201,245▲ $976,888

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$24,978,939$2,396,708$27,375,647
Land$2,789,974-$2,789,974
Leasehold Improvements$277,717$60,218$337,935
Equipment$78,094$33,382$111,476
Other Land Buildings$15,288$11,411$26,699

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$584,680--$584,680-
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Constance CollinsPresident &
Angela WhitmanDirector
Anita BroadDirector
Debra WechslerDirector
Kathryn VillanoDirector
Leila CentnerDirector
Martin MarguliesDirector
Richard BermontDirector
Julie LotspeichSecty, Treas
John SumbergVP & Directo
Revenue and Support

Revenue Composition

Contributions and Grants
$1,651,565
Program Service Revenue
$0
Investment Income
$230,671
Other Revenue
$1,838
All Other Contributions
$1,651,565
Change in Net Assets
$271,846

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$1,036,369Fair Market Value (FMV)
Total Noncash Contributions1$1,036,369-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,884,074
Revenue Not Reported on Form 990
$1,075,397
Total Revenue per Audited Statements
$2,959,471
Total Revenue per Form 990
$1,884,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,310,290
Grants and Similar Amounts Paid$301,938
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$884,827--$884,827
Interest$350,195--$350,195
Grants to Domestic Orgs$301,938--$301,938
Fees for Services Accounting-$32,534-$32,534
Office Expenses-$27,711-$27,711
Other Expenses-$221-$221
Total Functional Expenses$1,536,960$75,268$0$1,612,228

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,678,761
Expenses per Audited Statements$1,612,228
Total Expenses per Form 990$1,612,228
Expenses Not Reported on Form 990$66,533
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Sundari Foundation IncMiami, FL-Shelter and Facility$301,938
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Payable$2,687
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Kathryn villano julie lotspeich director director sisters”

Form 990, Page 6, Part VI, Line 11B

“The draft of form 990 is provided to the board for review and comments prior to filing, in addition to being reviewed and approved by the president and vice president of the foundation.”

Form 990, Page 6, Part VI, Line 12C

“No officer or employee shall solicit or accept any gift, gratuity, favor compensation, or anything of value, in cash or in kind, from any existing or prospective contractor or recipient or beneficiary of expenditures of the fund, except for a gift that is an unsolicited item of nominal value or as otherwise may be fully disclosed to and expressly approved by the board. No officer, employee, or agent may participate in the selection, award or administration of a contract supported by grant program funds from governmental sources if a real or apparent conflict of interest would be involved. Such a conflict may arise when any of the following parties has a financial or other interest in the firm selected for the award: an employee, officer or agent of the fund; any member of an employee's, officer's or agent's immediate family; an employee's, agent's or officer's partner; or an organization which employs or is about to employ any of the parties in the preceding sections.”

Form 990, Page 6, Part VI, Line 15A

“Special procedures are in place for board review if there should be a compensation level for an employee exceeding 55,000. Compensation for all employees will be reviewed and subject to board approval annually. Presently, there are no employees.”

Form 990, Page 6, Part VI, Line 15B

“Special procedures are in place for board review if there should be a compensation level for an employee exceding 55,000. Compensation for all employees will be reviewed and subject to board approval annually. Presently, there are no employees.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. This information is also posted on guidestar's website.”

Filing and Contact Details

Filer

Filer Name
Lotus Endowment Fund Inc
EIN
92-0233563
Phone
3056131573
Address
3921 ALTON ROAD 470, MIAMI BEACH, FL 33140

Signing Officer

Name
Constance Collins
Title
President & Director
Phone
3055764780
Signed
2021-10-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Constance Collins
Formed
2007
Legal Domicile
Fl
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Caballero Fierman Llerena & Garcia Llp
Address
8950 SW 74 COURT STE 1210, MIAMI, FL 33156
Preparer
Nestor Caballero CPA Mst
Phone
3056627272
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The lotus endowment fund, inc. Is a 501(c)(3) supporting foundation for the sundari foundation, inc. And its initiatives, including the lotus house women's shelter. The endowment fund was formed to secure the financial stability and long-term viability of the sundari foundation, so the lotus house will serve as a resource for women, children and youth in need for generations to come. Part iii, line 1 lotus endowment fund, inc. Owns the facilities located at 2040 nw 7th ave, miami, fl 33127 and 420 nw 35th street, miami, fl 33127 and leases such facilities to the sundari foundation, inc. Pursuant to a 50 year lease at an annual rent of 1 per year. For 2020, the annual rental value of such facilities was approximately 162,000. Lotus village development, llc, a wholly owned subsidiary of lotus endowment fund, inc., owns the facilities located at 217 nw 15th street, miami, fl 33136 known as lotus village and leases such facilities to the sundari foundation, inc. Pursuant to a 35 year master lease for 196,000, its fair market value, annual pursuant to the master lease. All of these facilities are used by the sundari foundation, inc. In connection with its charitable and educational purposes as a shelter and resource center for homeless women and children. Lotus endowment fund, inc. Also raises grants, donations, and contributions for the benefit of the sundari foundation, inc. So that the sundari foundation, inc. Can carry out its charitable and educational purposes.”

Financial Statement Notes

Schedule D, Page 2, Part III, Line 4

“Lotus endowment fund sponsored the creation of a special, limited edition portfolio of photography and poetry, called by and about women, to raise public awareness of the special needs of women who are homeless, how the lotus house women's shelter (an iniative of the sundari foundation) addresses those needs in a unique way, and to raise funds for the endowment, so that lotus house may serve as a resource for women and children in need for generations to come. The portfolio consists of the original works of nine women artists from around the world.”

Schedule D, Page 3, Part X

“The endowment adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles, with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely- than-not be sustained upon examination by taxing authorities. The endowment has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. The endowment believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the endowments financial condition, results of operations or cash flows. Accordingly, the endowment has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at december 31, 2020.”

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IRS990/ActivityOrMissionDesc0THE LOTUS ENDOWMENT FUND, INC. IS A 501(C)(3) SUPPORTING FOUNDATION FOR THE SUNDARI FOUNDATION, INC. AND ITS INITIATIVES, INCLUDING THE LOTUS HOUSE WOMEN'S SHELTER. THE ENDOWMENT FUND WAS FORMED TO SECURE THE FINANCIAL STABILITY AND LONG-TERM VIABILITY OF THE SUNDARI FOUNDATION, SO THE LOTUS HOUSE WILL SERVE AS A RESOURCE FOR WOMEN, CHILDREN AND YOUTH IN NEED FOR GENERATIONS TO COME. PART III, LINE 1 LOTUS ENDOWMENT FUND, INC. OWNS THE FACILITIES LOCATED AT 2040 NW 7TH AVE, MIAMI, FL 33127 AND 420 NW 35TH STREET, MIAMI, FL 33127 AND LEASES SUCH FACILITIES TO THE SUNDARI FOUNDATION, INC. PURSUANT TO A 50 YEAR LEASE AT AN ANNUAL RENT OF 1 PER YEAR. FOR 2020, THE ANNUAL RENTAL VALUE OF SUCH FACILITIES WAS APPROXIMATELY 162,000. LOTUS VILLAGE DEVELOPMENT, LLC, A WHOLLY OWNED SUBSIDIARY OF LOTUS ENDOWMENT FUND, INC., OWNS THE FACILITIES LOCATED AT 217 NW 15TH STREET, MIAMI, FL 33136 KNOWN AS LOTUS VILLAGE AND LEASES SUCH FACILITIES TO THE SUNDARI FOUNDATION, INC. PURSUANT TO A 35 YEAR MASTE
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IRS990/Form990PartVIISectionAGrp/TitleTxt0SECTY, TREAS
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT &
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7VP & DIRECTO
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/MissionDesc0THE LOTUS ENDOWMENT FUND, INC. IS A 501(C)(3) SUPPORTING FOUNDATION FOR THE SUNDARI FOUNDATION, INC. AND ITS INITIATIVES, INCLUDING THE LOTUS HOUSE WOMEN'S SHELTER. THE ENDOWMENT FUND WAS FORMED TO SECURE THE FINANCIAL STABILITY AND LONG-TERM VIABILITY OF THE SUNDARI FOUNDATION, SO THE LOTUS HOUSE WILL SERVE AS A RESOURCE FOR WOMEN, CHILDREN AND YOUTH IN NEED FOR GENERATIONS TO COME. PART III, LINE 1 LOTUS ENDOWMENT FUND, INC. OWNS THE FACILITIES LOCATED AT 2040 NW 7TH AVE, MIAMI, FL 33127 AND 420 NW 35TH STREET, MIAMI, FL 33127 AND LEASES SUCH FACILITIES TO THE SUNDARI FOUNDATION, INC. PURSUANT TO A 50 YEAR LEASE AT AN ANNUAL RENT OF 1 PER YEAR. FOR 2020, THE ANNUAL RENTAL VALUE OF SUCH FACILITIES WAS APPROXIMATELY 162,000. LOTUS VILLAGE DEVELOPMENT, LLC, A WHOLLY OWNED SUBSIDIARY OF LOTUS ENDOWMENT FUND, INC., OWNS THE FACILITIES LOCATED AT 217 NW 15TH STREET, MIAMI, FL 33136 KNOWN AS LOTUS VILLAGE AND LEASES SUCH FACILITIES TO THE SUNDARI FOUNDATION, INC. PURSUANT TO A 35 YEAR MASTE
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0A MAJORITY OF THE ORGANIZATION'S DIRECTORS DURING THE TAX YEAR WERE NOT ALSO A MAJORITY OF THE DIRECTORS IN THE SUPPORTED ORGANIZATION. THEREFORE, CONTROL OR MANAGEMENT OF THE SUPPORTING ORGANIZATION WAS NOT VESTED IN THE SAME PERSONS THAT CONTROLLED OR MANAGED THE SUPPORTED ORGANIZATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION C, LINE 1
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE SUNDARI FOUNDATION INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0THE SUNDARI FOUNDATION INC
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IRS990ScheduleA/SupportingOrgType2Ind0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/BookValueAmt024978939
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IRS990ScheduleD/CollectionUsedOtherPurposesGrp/OtherPurposesDesc0RAISE FUNDS
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0584680
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0584680
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0424245
IRS990ScheduleD/DonatedServicesUseFcltsAmt066533
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IRS990ScheduleD/EquipmentGrp/BookValueAmt078094
IRS990ScheduleD/EquipmentGrp/DepreciationAmt033382
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0111476
IRS990ScheduleD/ExpensesNotReportedAmt066533
IRS990ScheduleD/ExpensesSubtotalAmt01612228
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt02789974
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02789974
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0277717
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt060218
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0337935
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0651152
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015288
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011411
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt026699
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02687
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt01075397
IRS990ScheduleD/RevenueSubtotalAmt01884074
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOTUS ENDOWMENT FUND SPONSORED THE CREATION OF A SPECIAL, LIMITED EDITION PORTFOLIO OF PHOTOGRAPHY AND POETRY, CALLED BY AND ABOUT WOMEN, TO RAISE PUBLIC AWARENESS OF THE SPECIAL NEEDS OF WOMEN WHO ARE HOMELESS, HOW THE LOTUS HOUSE WOMEN'S SHELTER (AN INIATIVE OF THE SUNDARI FOUNDATION) ADDRESSES THOSE NEEDS IN A UNIQUE WAY, AND TO RAISE FUNDS FOR THE ENDOWMENT, SO THAT LOTUS HOUSE MAY SERVE AS A RESOURCE FOR WOMEN AND CHILDREN IN NEED FOR GENERATIONS TO COME. THE PORTFOLIO CONSISTS OF THE ORIGINAL WORKS OF NINE WOMEN ARTISTS FROM AROUND THE WORLD.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ENDOWMENT ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY- THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ENDOWMENT HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. THE ENDOWMENT BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE ENDOWMENTS FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE ENDOWMENT HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART III, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt028140012
IRS990ScheduleD/TotalExpensesPerForm990Amt01612228
IRS990ScheduleD/TotalLiabilityAmt02687
IRS990ScheduleD/TotalRevenuePerForm990Amt01884074
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02959471
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01678761
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0301938
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SHELTER AND FACILITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE SUNDARI FOUNDATION INC
IRS990ScheduleI/RecipientTable/RecipientEIN0810652266
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03921 ALTON ROAD 468
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MIAMI
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LOTUS ENDOWMENT FUND, INC. IS A 501(C)(3) SUPPORTING FOUNDATION FOR THE SUNDARI FOUNDATION, INC. AND ITS INITIATIVES, INCLUDING THE LOTUS HOUSE WOMEN'S SHELTER. THE ENDOWMENT FUND WAS FORMED TO SECURE THE FINANCIAL STABILITY AND LONG-TERM VIABILITY OF THE SUNDARI FOUNDATION, SO THE LOTUS HOUSE WILL SERVE AS A RESOURCE FOR WOMEN, CHILDREN AND YOUTH IN NEED FOR GENERATIONS TO COME. PART III, LINE 1 LOTUS ENDOWMENT FUND, INC. OWNS THE FACILITIES LOCATED AT 2040 NW 7TH AVE, MIAMI, FL 33127 AND 420 NW 35TH STREET, MIAMI, FL 33127 AND LEASES SUCH FACILITIES TO THE SUNDARI FOUNDATION, INC. PURSUANT TO A 50 YEAR LEASE AT AN ANNUAL RENT OF 1 PER YEAR. FOR 2020, THE ANNUAL RENTAL VALUE OF SUCH FACILITIES WAS APPROXIMATELY 162,000. LOTUS VILLAGE DEVELOPMENT, LLC, A WHOLLY OWNED SUBSIDIARY OF LOTUS ENDOWMENT FUND, INC., OWNS THE FACILITIES LOCATED AT 217 NW 15TH STREET, MIAMI, FL 33136 KNOWN AS LOTUS VILLAGE AND LEASES SUCH FACILITIES TO THE SUNDARI FOUNDATION, INC. PURSUANT TO A 35 YEAR MASTER LEASE FOR 196,000, ITS FAIR MARKET VALUE, ANNUAL PURSUANT TO THE MASTER LEASE. ALL OF THESE FACILITIES ARE USED BY THE SUNDARI FOUNDATION, INC. IN CONNECTION WITH ITS CHARITABLE AND EDUCATIONAL PURPOSES AS A SHELTER AND RESOURCE CENTER FOR HOMELESS WOMEN AND CHILDREN. LOTUS ENDOWMENT FUND, INC. ALSO RAISES GRANTS, DONATIONS, AND CONTRIBUTIONS FOR THE BENEFIT OF THE SUNDARI FOUNDATION, INC. SO THAT THE SUNDARI FOUNDATION, INC. CAN CARRY OUT ITS CHARITABLE AND EDUCATIONAL PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1KATHRYN VILLANO JULIE LOTSPEICH DIRECTOR DIRECTOR SISTERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DRAFT OF FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND COMMENTS PRIOR TO FILING, IN ADDITION TO BEING REVIEWED AND APPROVED BY THE PRESIDENT AND VICE PRESIDENT OF THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OFFICER OR EMPLOYEE SHALL SOLICIT OR ACCEPT ANY GIFT, GRATUITY, FAVOR COMPENSATION, OR ANYTHING OF VALUE, IN CASH OR IN KIND, FROM ANY EXISTING OR PROSPECTIVE CONTRACTOR OR RECIPIENT OR BENEFICIARY OF EXPENDITURES OF THE FUND, EXCEPT FOR A GIFT THAT IS AN UNSOLICITED ITEM OF NOMINAL VALUE OR AS OTHERWISE MAY BE FULLY DISCLOSED TO AND EXPRESSLY APPROVED BY THE BOARD. NO OFFICER, EMPLOYEE, OR AGENT MAY PARTICIPATE IN THE SELECTION, AWARD OR ADMINISTRATION OF A CONTRACT SUPPORTED BY GRANT PROGRAM FUNDS FROM GOVERNMENTAL SOURCES IF A REAL OR APPARENT CONFLICT OF INTEREST WOULD BE INVOLVED. SUCH A CONFLICT MAY ARISE WHEN ANY OF THE FOLLOWING PARTIES HAS A FINANCIAL OR OTHER INTEREST IN THE FIRM SELECTED FOR THE AWARD: AN EMPLOYEE, OFFICER OR AGENT OF THE FUND; ANY MEMBER OF AN EMPLOYEE'S, OFFICER'S OR AGENT'S IMMEDIATE FAMILY; AN EMPLOYEE'S, AGENT'S OR OFFICER'S PARTNER; OR AN ORGANIZATION WHICH EMPLOYS OR IS ABOUT TO EMPLOY ANY OF THE PARTIES IN THE PRECEDING SECTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SPECIAL PROCEDURES ARE IN PLACE FOR BOARD REVIEW IF THERE SHOULD BE A COMPENSATION LEVEL FOR AN EMPLOYEE EXCEEDING 55,000. COMPENSATION FOR ALL EMPLOYEES WILL BE REVIEWED AND SUBJECT TO BOARD APPROVAL ANNUALLY. PRESENTLY, THERE ARE NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SPECIAL PROCEDURES ARE IN PLACE FOR BOARD REVIEW IF THERE SHOULD BE A COMPENSATION LEVEL FOR AN EMPLOYEE EXCEDING 55,000. COMPENSATION FOR ALL EMPLOYEES WILL BE REVIEWED AND SUBJECT TO BOARD APPROVAL ANNUALLY. PRESENTLY, THERE ARE NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THIS INFORMATION IS ALSO POSTED ON GUIDESTAR'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0LOTUS ENDO
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0LOTUS VILLAGE DEVELOPMENT LLC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE SUNDARI FOUNDATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1LOTUS SUPPORTING FOUNDATION INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1810783068
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0FL

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,201,245
Liabilities
$26,558,126
Net assets
$16,643,119
Revenue
$1,884,074
Expenses
$1,612,228
Net income
$271,846
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$107$68.9$38.5$4.22$1.92$2.30
2023Summary only. Only limited summary data is available for this year.$102$66.5$35.2$13.2$2.15$11.0
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.8$45.9$22.9$9.18$1.84$7.34
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$47.0$29.5$17.5$1.45$1.92$0.48
2020Detailed filing. Detailed filing data is available for this year.$43.2$26.6$16.6$1.88$1.61$0.27
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.2$26.9$15.4$1.08$1.80$0.72
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.9$27.5$15.4$2.93$1.50$1.43
2017Summary only. Only limited summary data is available for this year.$41.1$27.8$13.3$5.47$0.37$5.11
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.4$26.5$6.83$2.56$1.04$1.51
2015Detailed filing. Detailed filing data is available for this year.$5.43$0.04$5.39$0.29$0.09$0.20
2014Detailed filing. Detailed filing data is available for this year.$5.48$0.00$5.48$1.32$0.09$1.23
2013Detailed filing. Detailed filing data is available for this year.$4.59$0.08$4.51$0.70$0.31$0.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.04$0.00$4.04$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.53$0.00$3.53$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$0.00$3.30$0.03