Choong & Hsia Foundation
- Assets
- $1.7m
- Revenue
- $960.2k
- Investments
- $1.4m
- Employees
- 0
- Location
- Los Altos Hills, CA
- Founding
- 09/2010
- Data as of
- 06/2023
- EIN
- 27-3177003
Organization Overview
Choong & Hsia Foundation is located in Los Altos Hills, CA. The organization was established in 2010. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Choong & Hsia 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 06/2023, Choong & Hsia Foundation generated $960.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $83.1k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Choong & Hsia Foundation has awarded 60 individual grants totaling $810,120. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPRECIATION AWARD FOR MR. SHAWN TANG, THE FIRST SECOND GENERATION CHINESE AMERICAN FROM SILICON VALLEY TO SERVE IN THE US SPECIAL FORCE AND COMPLETED THE TOURS OF DUTY IN AFGHANISTAN WITH DISTINCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Choong CEO | 8 | $0 | |
Hsia Choong CFO | 4 | $0 | |
Ingrid Choong Secretary | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $252,976 |
| Interest on Savings | $1,381 |
| Dividends & Interest | $18,954 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $686,900 |
| Capital Gain Net Income | $686,900 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $960,211 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,522 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $11,895 |
| Printing and publications | $0 |
| Other expenses | $206 |
| Total operating and administrative expenses | $15,065 |
| Contributions, gifts, grants paid | $68,050 |
| Total expenses and disbursements | $83,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $326,678 |
| Savings and temporary cash investments | $0 |
| 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 | $1,722,514 |
| 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, Choong & Hsia Foundation has awarded $68,050 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
EDUCATION DEVELOPMENT FOUNDATION OF JINAN UNIVERSITY GUANGDONG PURPOSE: DONATION | $56,000 |
MASSACHUSETTS INSTITUTE OF TECHNOLOGY PURPOSE: DONATION | $5,050 |
UNIVERSITY OF CALIFORNIA BERKELEY FOUNDATION PURPOSE: DONATION | $1,000 |
NAVY LEAGUE OF THE UNITED STATES GREATER AUSTIN COUNCIL PURPOSE: DONATION | $5,000 |
80-20 EDUCATION FOUNDATION PURPOSE: DONATION | $1,000 |