Ting Tsung And Wei Fong Chao Foundation
- Assets
- $26.4m
- Revenue
- $21.4m
- Investments
- $18.3m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 03/2002
- Data as of
- 12/2021
- EIN
- 30-0005201
Organization Overview
Ting Tsung And Wei Fong Chao Foundation is located in Houston, TX. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Ting Tsung And Wei Fong Chao 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 12/2021, Ting Tsung And Wei Fong Chao Foundation generated $21.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $24.6m during the year ending 12/2021. While expenses have increased by 10.0% per year over the past 6 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 2017, Ting Tsung And Wei Fong Chao Foundation has awarded 514 individual grants totaling $161,038,781. 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 |
|---|---|---|---|
Albert Chao Vice President & Secretary | 5 | $0 | |
James Chao Vice President & Treasurer | 5 | $0 | |
Dorothy Jenkins President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,500,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $573,440 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $372,103 |
| Capital Gain Net Income | $372,103 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,930 |
| Total Revenue | $21,447,473 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $6,764 |
| Taxes | $40,117 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $14,740 |
| Total operating and administrative expenses | $205,624 |
| Contributions, gifts, grants paid | $24,389,823 |
| Total expenses and disbursements | $24,595,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,663,217 |
| 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 | $1,472,500 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,054,548 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $26,401,006 |
| 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, Ting Tsung And Wei Fong Chao Foundation has awarded $35,350,578 in support to 149 organizations.
| Grant Recipient | Amount |
|---|---|
TEXAS CHILDREN'S HOSPITAL PURPOSE: GENERAL OPERATIONS | $3,015,000 |
WELLESLEY COLLEGE PURPOSE: CHAIR FOR INCLUSIVE EXCELLENCE FOR DISADVANTAGED STUDENTS | $2,600,000 |
Houston, TX PURPOSE: TT CHAO SCHOLARS PROGRAM | $2,400,000 |
Houston, TX PURPOSE: SUPPORT OF HGO'S 2022-23 & 2023-24 SEASONS | $1,250,000 |
ASIA SOCIETY GLOBAL (NEW YORK) PURPOSE: GENERAL OPERATIONS | $1,101,500 |
Houston, TX PURPOSE: 2022 ANNUAL GALA; PRESIDENT'S SOCIETY; LUNCHEON | $1,020,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Burnett Foundation Fort Worth, TX | $195,880,351 | $2,811,908 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
Rapier Family Foundation San Antonio, TX | $15,198 | $1,321,420 |
Dan L Duncan Family Foundation Houston, TX | $0 | $27,292,814 |
Fmh Foundation Midland, TX | $321,253,044 | $148,706,487 |
Inasmuch Foundation Oklahoma City, OK | $394,422,796 | $49,887,073 |
Ting Tsung And Wei Fong Chao Foundation Houston, TX | $26,401,006 | $21,447,473 |
William K Warren Foundation Tulsa, OK | $318,898,600 | $38,179,587 |
Impetus Foundation San Antonio, TX | $248,495,187 | $85,291,192 |
Builders Initiative Bentonville, AR | $992,945,696 | $530,265,880 |
Centerpoint Energy Foundation Inc Houston, TX | $70,813,659 | $24,292,942 |
The Cullen Foundation Houston, TX | $278,005,765 | $19,628,625 |