Tsao Family Foundation
- Assets
- $84.5m
- Revenue
- $11.4m
- Investments
- $65.9m
- Employees
- 0
- Location
- Corona Del Mar, CA
- Founding
- 03/2007
- Data as of
- 12/2022
- EIN
- 20-2043022
Organization Overview
Tsao Family Foundation is located in Corona Del Mar, CA. The organization was established in 2007. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Tsao 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 12/2022, Tsao Family Foundation generated $11.4m 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 $4.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Tsao Family Foundation has awarded 113 individual grants totaling $11,888,196. 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 |
|---|---|---|---|
Michael Liyoung Tsao President | 1 | $0 | |
Steven Lidah Tsao CFO | 1 | $0 | |
Janie Tsao Foundation Manager | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Miven Inc | 12/30/22 | $286,639 |
Makarios Ministries Inc | 12/30/22 | $82,299 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000,000 |
| Interest on Savings | $135,659 |
| Dividends & Interest | $820,133 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $454,989 |
| Capital Gain Net Income | $1,336,658 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,410,781 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $27,711 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,573 |
| Total operating and administrative expenses | $482,664 |
| Contributions, gifts, grants paid | $4,084,900 |
| Total expenses and disbursements | $4,567,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,645,923 |
| Net Accounts receivable | $922,418 |
| 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 | $846 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $45,179,072 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $9,890 |
| Total assets | $84,460,412 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $800,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $287,439 |
| Total liabilities | $1,087,439 |
Grants Awarded
Over the last fiscal year, Tsao Family Foundation has awarded $3,284,900 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNIA INSTITUTE OF TECHNOLOGY ASSOCIATES PURPOSE: SUPPORTING CHARITABLE ORGANIZATION'S EXEMPT PURPOSES | $10,000 |
ASIAN AMERICAN FUTURES PURPOSE: SUPPORTING CHARITABLE ORGANIZATION'S EXEMPT PURPOSES | $50,000 |
CHARITABLE VENTURES OF ORANGE COUNTY PURPOSE: SUPPORTING CHARITABLE ORGANIZATION'S EXEMPT PURPOSES | $6,500 |
HOAG HOSPITAL FOUNDATION PURPOSE: SUPPORTING CHARITABLE ORGANIZATION'S EXEMPT PURPOSES | $200,000 |
COMMUNITIES FOR RECOVERY PURPOSE: SUPPORTING CHARITABLE ORGANIZATION'S EXEMPT PURPOSES | $5,000 |
CHOC FOUNDATION PURPOSE: SUPPORTING CHARITABLE ORGANIZATION'S EXEMPT PURPOSES | $556,000 |