Richard & Scarlett Chang Family Foundation
- Assets
- $1.2m
- Revenue
- $132.8k
- Investments
- $936.7k
- Employees
- 0
- Location
- Allen, TX
- Founding
- 08/2004
- Data as of
- 12/2021
- EIN
- 04-3657039
Organization Overview
Richard & Scarlett Chang Family Foundation is located in Allen, TX. The organization was established in 2004. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richard & Scarlett Chang Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Richard & Scarlett Chang Family Foundation generated $132.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $81.7k during the year ending 12/2021. While expenses have increased by 7.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Richard & Scarlett Chang Family Foundation has awarded 14 individual grants totaling $353,550. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Chang Chairman | 1 | $0 | |
Scarlett Chang Treasurer | 1 | $0 | |
Eric C Ko Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $5 |
| Dividends & Interest | $39,038 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $43,714 |
| Capital Gain Net Income | $43,714 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $132,757 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,217 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,276 |
| Total operating and administrative expenses | $9,684 |
| Contributions, gifts, grants paid | $72,000 |
| Total expenses and disbursements | $81,684 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $297,032 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $452 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $786,672 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,234,161 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Richard & Scarlett Chang Family Foundation has awarded $72,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHINESE CHRISTIAN FELLOWSHIP INTERNATIONAL PURPOSE: GENERAL OPERATING FUND | $42,000 |
Milltown, NJ PURPOSE: GENERAL OPERATING FUND | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hoblitzelle Foundation Dallas, TX | $135,054,358 | $12,987,577 |
Hillcrest Foundation Dallas, TX | $133,849,487 | $13,362,957 |
Huffington Foundation Houston, TX | $143,567,137 | $11,559,123 |
Marilyn And Sonny Oates Foundation Dallas, TX | $9,716,063 | $15,482,909 |
Frank E & Seba B Payne Foundation 31-55459-5 Dallas, TX | $0 | $7,949,536 |
Ewing Halsell Foundation San Antonio, TX | $128,225,154 | $18,962,628 |
Knobloch Family Foundation Houston, TX | $166,642,525 | $7,681,170 |
Irene W And C B Pennington Foundation Baton Rouge, LA | $0 | $6,041,681 |
Hamon Charitable Foundation Dallas, TX | $77,984,763 | $10,364,017 |
Alumbra Innovations Foundation Bentonville, AR | $55,483,470 | $25,346,784 |
Biogen Foundation Inc Dallas, TX | $25,561,498 | $3,880,862 |
The Margaret And Al Hill Family Foundation Dallas, TX | $0 | $526,228 |