Chao Family Foundation Inc
- Assets
- $9.5m
- Revenue
- $818.9k
- Investments
- $9.1m
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 09/2014
- Data as of
- 12/2023
- EIN
- 26-1899479
Organization Overview
Chao Family Foundation Inc is located in Las Vegas, NV. The organization was established in 2014. 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. Chao Family Foundation Inc 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 12/2023, Chao Family Foundation Inc generated $818.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $343.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Chao Family Foundation Inc has awarded 83 individual grants totaling $2,219,829. 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 Chao Chairman/director | 4 | $0 | |
Stefanie Chao Treasurer/director | 4 | $0 | |
Steven Chao Secretary/director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,007,939 |
| Interest on Savings | $0 |
| Dividends & Interest | $172,572 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$373,724 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,072 |
| Total Revenue | $818,859 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $5,821 |
| Interest | $14 |
| Taxes | $70 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,001 |
| Printing and publications | $40 |
| Other expenses | $3,935 |
| Total operating and administrative expenses | $92,042 |
| Contributions, gifts, grants paid | $251,515 |
| Total expenses and disbursements | $343,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,693 |
| Savings and temporary cash investments | $335,713 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,535,179 |
| Accounts payable and accrued expenses | $1,259 |
| 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 | $1,259 |
Grants Awarded
Over the last fiscal year, Chao Family Foundation Inc has awarded $251,515 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ASIAN AMERICAN FUTURES PURPOSE: GOLD FUTURES CHALLENGE PROGRAM 2023 AND 2024 | $50,000 |
ASIAN PACIFIC COMMUNITY FUND PURPOSE: 2023 SCHOLARSHIPS / GIVING FOR ALL SEASONS GALA EVENT SPONSORSHIP | $66,000 |
COMMUNITY ACTION MARIN PURPOSE: FAMILY TO FAMILY PROGRAM HOLIDAY GRANT | $2,000 |
FRIENDS OF BROADWAY ELEMENTARY SCHOOL PURPOSE: UNRESTRICTED GRANT | $1,000 |
AT CHILDREN'S PROJECT PURPOSE: RYLIE'S ANGELS DINNER RECEPTION & SILENT AUCTION EVENT SPONSORSHIP | $5,000 |
MAUI UNITED WAY PURPOSE: EMERGENCY RELIEF FOR MAUI FIRES | $10,000 |