Sheng-Yen Lu Foundation
- Assets
- $11.5m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Redmond, WA
- Founding
- 05/2009
- Data as of
- 12/2023
- EIN
- 26-3276872
Organization Overview
Sheng-Yen Lu Foundation, operating under the name Syl Foundation, is located in Redmond, WA. The organization was established in 2009. According to its NTEE Classification (X50) the organization is classified as: Buddhism, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Syl Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Syl 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 12/2023, Syl Foundation generated $2.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Syl Foundation has awarded 400 individual grants totaling $9,633,397. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ADVANCE QUALITY HEALTH AND EDUCATION FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHENG-YEN LU FOUNDATION MADE 32 HEALTHCARE AND EDUCATION GRANTS IN 2023 AS PART OF OUR HEALTH AND EDUCATION ACCESS FUNDING STREAM. THESE GRANTS SUPPORT ORGANIZATIONS WORKING TO PROVIDE EQUITABLE ACCESS TO HEALTHCARE AND EDUCATION TO IMMIGRANT AND REFUGEE COMMUNITIES. THEY PROVIDE FUNDING FOR ORGANIZATIONS THAT REMOVE BARRIERS TO ACCESS, OFFER CULTURALLY AND LINGUISTICALLY APPROPRIATE HEALTHCARE SERVICES, WORK TO INCREASE DIVERSITY IN HEALTHCARE, AND THAT SUPPORT STUDENTS AND THEIR FAMILIES IN EARLY EDUCATION, SECONDARY EDUCATION COMPLETION, AND THE TRANSITION TO COLLEGE.
SHENG-YEN LU FOUNDATION OPERATES THE LOTUS SCHOLARSHIP PROGRAM TO BENEFIT IMMIGRANT AND REFUGEE STUDENTS WHO ARE GRADUATING HIGH SCHOOL AND WISH TO PURSUE A COLLEGE DEGREE. THE SCHOLARSHIP HELPS THESE STUDENTS WHO ARE OFTEN THE FIRST IN THEIR FAMILIES TO ATTENDCOLLEGE AND WHO FACE TREMENDOUS LANGUAGE, CULTURAL, AND FINANCIAL BARRIERS. A TOTAL OF 44 INDIVIDUAL SCHOLARSHIPS WERE AWARDED IN 2023 TO ASSIST WITH THE COST OF POST-SECONDARY EDUCATION. IN ADDITION TO SCHOLARSHIP ASSISTANCE, LOTUS SCHOLARS ATTEND A 3-DAY COLLEGE PREPWORKSHOP TO LEARN SKILLS SUCH AS TIME MANAGEMENT, FINANCIAL AID, AND BUDGETING. THIS WORKSHOP IS OFFERED IN PARTNERSHIP WITH COLLEGE POSSIBLE WASHINGTON.
SHENG-YEN LU FOUNDATION MADE 15 JUSTICE FUND GRANTS IN 2023. THE JUSTICE FUND MAKES GRANTS TO IMMIGRANT AND REFUGEE SERVING ORGANIZATIONS THAT ARE: 1) BUILDING AN INCLUSIVE ECONOMY IN WHICH IMMIGRANTS AND REFUGEES CAN THRIVE 2) CONDUCTING NARRATIVE CHANGE WORK TO CREATE A MORE WELCOMING, INCLUSIVE, ANTI-RACIST, AND COMPASSIONATE VISION FOR OUR NATION 3) ENGAGING IN ADVOCACY AND SYSTEMS-CHANGE WORK TO PROMOTE CIVIC PARTICIPATION AND IMMIGRANT JUSTICE INCLUDING ACCESS TO HEALTHCARE, EDUCATION, HOUSING, SAFETY, AND OTHER BASIC HUMAN NEEDS AND, 4) PROVIDING LEGAL REPRESENTATION TO IMMIGRANTS AND REFUGEES.
OTHER GRANTMAKING ACTIVITY: SHENG-YEN LU FOUNDATION SPONSORED COMMUNITY EVENTS HELD BY 37 PARTNER ORGANIZATIONS IN 2023. EVERY YEAR, SHENG-YEN LU FOUNDATION DEDICATES A PORTION OF ITS ANNUAL FUNDING TOWARD SPECIAL PROJECTS. 100% OF FUNDS RAISED FOR DISASTER RELIEF EFFORTS GO TOWARD REBUILDING THE LIVES OF THOSE AFFECTED BY DISASTERS. IN 2023, ONE ORGANIZATION RECEIVED FUNDS TO HELP VICTIMS OF THE MAUI FIRE, AND ANOTHER ORGANIZATION RECEIVED FUNDING FOR EMERGENCY RESPONSE SERVICES FOLLOWING THE EARTHQUAKE IN TURKEY AND SYRIA. SHENG-YEN LU FOUNDATION ALSO MADE 4 RAPID RESPONSE GRANTS IN 2023. THESE GRANTS ARE MADE TO GRANTEE PARTNERS WHO ARE FACING AN UNANTICIPATED NEED FOR FUNDS TO ADDRESS AN EMERGENCY SITUATION. SHENG-YEN LU FOUNDATION ALSO MADE 18 COMMUNITY-LED GRANTS IN 2023 TO NONPROFITS THAT WERE NOMINATED BY OUR EXISTING GRANTEES. THE GOAL OF THIS FUNDING STREAM IS TO BROADEN THE SCOPE OF OUR PHILANTHROPIC EFFORTS AND SUPPORT NEWER AND/OR SMALLER ORGANIZATIONS IN THEIR DEVELOPMENT. TWO OTHER SPECIAL PROJECTS GRANTS WERE MADE IN 2023. ONE SUPPORTED A SABBATICAL FUND FOR BIPOC NONPROFIT LEADERS IN WASHINGTON STATE. THE OTHER SUPPORTED AN INTERNSHIP PROGRAM FOR YOUNG PEOPLE WHO ARE UNDERREPRESENTED IN PHILANTHROPY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fo-Ching Lu President | OfficerTrustee | 20 | $0 |
Andy Roberts Treasurer | OfficerTrustee | 20 | $0 |
Susan Yang Secretary | OfficerTrustee | 1 | $0 |
Heather Edlund Board Member | Trustee | 1 | $0 |
Dexter Kuah Board Member | Trustee | 1 | $0 |
Teresa Piersa Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,382,915 |
| Noncash contributions included in lines 1a–1f | $4,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,382,915 |
| Total Program Service Revenue | $0 |
| Investment income | $225,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $434,542 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,043,207 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,815,740 |
| Grants and other assistance to domestic individuals. | $130,710 |
| Grants and other assistance to Foreign Orgs/Individuals | $62,540 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,521 |
| Compensation of current officers, directors, key employees. | $8,352 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,947 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28 |
| Payroll taxes | $8,698 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,734 |
| Fees for services: Accounting | $8,938 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $76,618 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,817 |
| Office expenses | $21,534 |
| Information technology | $22,437 |
| Royalties | $0 |
| Occupancy | $37,874 |
| Travel | $1,494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,500 |
| Interest | $0 |
| Payments to affiliates | $6,720 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,768 |
| All other expenses | $0 |
| Total functional expenses | $2,322,846 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $470,138 |
| Savings and temporary cash investments | $920,366 |
| Pledges and grants receivable | $39,880 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,536 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,058,070 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,967 |
| Total assets | $11,502,957 |
| Accounts payable and accrued expenses | $5,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $11,497,957 |
| Total liabilities and net assets/fund balances | $11,502,957 |
Grants Awarded
Over the last fiscal year, Sheng-Yen Lu Foundation has awarded $1,719,950 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
AFGHANS OF PUGET SOUND ALLIANCE PURPOSE: EMERGENT NEEDS FUND | $10,000 |
AFGHAN HEALTH INITIATIVE PURPOSE: HEALTH AND EDUCATION ACCESS | $28,000 |
AFRICAN COMMUNITY HOUSING & DEVELOPMENT PURPOSE: SPONSORSHIP, IMMIGRANT ADVOCACY AND JUSTICE | $33,000 |
API CHAYA PURPOSE: SPONSORSHIP, HEALTH AND EDUCATION ACCESS | $35,000 |
ASIAN AMERICAN JOURNALISTS ASSOCIATION PURPOSE: IMMIGRANT ADVOCACY AND JUSTICE | $30,000 |
ASIAN COUNSELING AND REFERRAL SERVICE PURPOSE: SPONSORSHIP, HEALTH AND EDUCATION ACCESS | $41,500 |