Wlc Family Foundation
- Assets
- $797.2k
- Revenue
- $217.0k
- Investments
- $506.9k
- Employees
- 0
- Location
- Stockton, CA
- Founding
- 07/2015
- Data as of
- 10/2023
- EIN
- 47-2523341
Organization Overview
Wlc Family Foundation is located in Stockton, CA. The organization was established in 2015. According to its NTEE Classification (B90) the organization is classified as: Educational Services, 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. Wlc 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 10/2023, Wlc Family Foundation generated $217.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $42.0k during the year ending 10/2023. While expenses have increased by 8.5% per year over the past 7 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH FRIDAY NIGHT ACTIVITIES AND SUMMER PROGRAM - TO COORDINATE WITH SCCC YOUTH PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wen Shean Cherng CEO | 5 | $0 | |
Li Fang Cherng Secretary | 10 | $0 | |
Nancy Reim Director | 1 | $0 | |
Gene Cherng Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,577 |
| Interest on Savings | $126 |
| Dividends & Interest | $1,785 |
| Net Rental Income | $10,659 |
| Net Gain on Sale of Assets | $187,688 |
| Capital Gain Net Income | $187,688 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $216,966 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,715 |
| Depreciation | $5,751 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,465 |
| Printing and publications | $0 |
| Other expenses | $16,397 |
| Total operating and administrative expenses | $29,328 |
| Contributions, gifts, grants paid | $12,650 |
| Total expenses and disbursements | $41,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,882 |
| Savings and temporary cash investments | $37,924 |
| 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 | $190,437 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $797,151 |
| 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, Wlc Family Foundation has awarded $12,650 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
STOCKTON CHINESE CHRISTIAN CHURCH PURPOSE: TO SUPPORT YOUTH PROGRAM | $9,800 |
SCHALLENBERGER SCHOOL PURPOSE: TO SUPPORT SCHOOL MUSIC AND ART PROGRAM | $1,800 |
JENE WAH INC PURPOSE: TO SUPPORT SENIOR NUTRITION PROGRAM AND ACTIVITIES | $350 |
STOCKTON CHILDREN'S HOME PURPOSE: TO SUPPORT CHILDREN'S HOME NUTRITION PROGRAM AND AFTER SCHOOL PROGRAM | $200 |
YUK H TSANG CHARITY PURPOSE: TO SUPPORT REV YUK HING TSANG' CHARITY PROGRAM TO TAKE CARE OF ORPHANAGES | $500 |