Hsing Family Foundation
- Assets
- $667.9k
- Revenue
- $231.8k
- Investments
- $458.4k
- Employees
- 0
- Location
- Saratoga, CA
- Founding
- 03/2011
- Data as of
- 12/2022
- EIN
- 27-3710264
Organization Overview
Hsing Family Foundation is located in Saratoga, CA. The organization was established in 2011. 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. Hsing 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, Hsing Family Foundation generated $231.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.2% each year . All expenses for the organization totaled $485.2k during the year ending 12/2022. While expenses have increased by 31.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hsing Family Foundation has awarded 66 individual grants totaling $1,354,832. 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 R Hsing President & CEO | 0 | $0 | |
Sharon Z Hsing CFO | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,024 |
| Dividends & Interest | $61,275 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $169,487 |
| Capital Gain Net Income | $169,487 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $231,786 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1 |
| Taxes | $3,035 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $350 |
| Total operating and administrative expenses | $7,386 |
| Contributions, gifts, grants paid | $477,842 |
| Total expenses and disbursements | $485,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,464 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $150,000 |
| 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 | $667,894 |
| 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, Hsing Family Foundation has awarded $477,842 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
HEALTHIER KIDS FOUNDATION PURPOSE: TO PROMOTE AND IMPROVE CHILDREN'S HEALTH. | $3,000 |
MICHAEL J FOX FOUNDATION PURPOSE: TO PROMOTE THE RESEARCH AND EARLY DETECTION OF PARKINSON'S DISEASE. | $88,000 |
SEATTLE SYMPHONY ORCHESTRA PURPOSE: TO PROMOTE AND SUPPORT MUSIC DEVELOPMENT AND EDUCATION. | $50,000 |
AMERICAN CANCER SOCIETY PURPOSE: TO SUPPORT THE CANCER RESEARCH AND TREATMENT. | $200 |
NATIONAL COLLEGIATE TABLE TENNIS AS PURPOSE: TO SUPPORT THE ON GOING PROGRAM AND PROMOTE THE SPORTS. | $10,000 |
SILICON VALLEY FIRST TEE PURPOSE: TO SUPPORT THE ON GOING PROGRAM AND PROMOTE THE SPORTS. | $5,000 |