Chee And Carole Fong Foundation
- Assets
- $243.5k
- Revenue
- $18.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Saratoga, CA
- Founding
- 05/2015
- Data as of
- 12/2023
- EIN
- 47-2520360
Organization Overview
Chee And Carole Fong Foundation is located in Saratoga, CA. The organization was established in 2015. 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. Chee And Carole Fong 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, Chee And Carole Fong Foundation generated $18.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.9%) each year. All expenses for the organization totaled $25.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carole Fong CEO | 1 | $0 | |
Chee Fong CFO | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4 |
| Dividends & Interest | $0 |
| Net Rental Income | -$2,954 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $18,004 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $257 |
| Depreciation | $8,337 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,617 |
| Total operating and administrative expenses | $22,111 |
| Contributions, gifts, grants paid | $2,865 |
| Total expenses and disbursements | $24,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,056 |
| 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 | $230,478 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $243,534 |
| Accounts payable and accrued expenses | $2,536 |
| 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 | $1,400 |
| Total liabilities | $3,936 |
Grants Awarded
Over the last fiscal year, Chee And Carole Fong Foundation has awarded $2,865 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BUDDHIST TZU CHI FOUNDATION PURPOSE: CHARITY | $365 |
PARKWAY HILLS UNITED METHODIST CHURCH PURPOSE: CHARITY | $2,500 |