Wei Family Private Foundation
- Assets
- $2.7m
- Revenue
- $169.0k
- Investments
- $2.7m
- Employees
- 0
- Location
- Nutley, NJ
- Founding
- 01/2011
- Data as of
- 12/2023
- EIN
- 26-4525149
Organization Overview
Wei Family Private Foundation is located in Nutley, NJ. The organization was established in 2011. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wei Family Private 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, Wei Family Private Foundation generated $169.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $280.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wei Family Private Foundation has awarded 211 individual grants totaling $2,394,324. 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 |
|---|---|---|---|
John W Donnelly President | 5 | $17,000 | |
Edward Chen Secy/treas | 5 | $16,000 | |
Janet Chen Vice Preside | 2 | $6,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $27 |
| Dividends & Interest | $105,022 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $63,991 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $169,040 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $39,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,853 |
| Total operating and administrative expenses | $50,903 |
| Contributions, gifts, grants paid | $229,999 |
| Total expenses and disbursements | $280,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,881 |
| 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 | $5,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,723,397 |
| 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, Wei Family Private Foundation has awarded $229,999 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
YUAN GAO PURPOSE: SCHOLARSHIPS | $8,000 |
JIA QI JIANG PURPOSE: SCHOLARSHIPS | $4,000 |
GUANYU LI PURPOSE: SCHOLARSHIPS | $4,000 |
LAILA BRUBAKER PURPOSE: SCHOLARSHIPS | $4,000 |
LEMENG LI PURPOSE: SCHOLARSHIPS | $8,000 |
CHI FAN LEUNG PURPOSE: SCHOLARSHIPS | $4,000 |