Hsu Family Educational Foundation Inc
- Assets
- $2.0m
- Revenue
- $951.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Walton Beach, FL
- Founding
- 07/2016
- Data as of
- 10/2023
- EIN
- 47-5426274
Organization Overview
Hsu Family Educational Foundation Inc is located in Fort Walton Beach, FL. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Hsu Family Educational Foundation Inc 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, Hsu Family Educational Foundation Inc generated $951.8k 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 (10.7%) each year. All expenses for the organization totaled $1.6m during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Hsu Family Educational Foundation Inc has awarded 104 individual grants totaling $330,185. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE EXCELLENCE IN EDUCATION AND ENCOURAGE CLASSROOM INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SUPPORT PROGRAM: THE HSU EDUCATIONAL FOUNDATION ENCOURAGES ENTREPRENEURSHIP BY SPONSORING EDUCATIONAL EVENTS AND SUPPORTING PROGRAMS THAT HIGHLIGHT STRATEGIES FOR BEING SUCCESSFUL IN SMALL BUSINESS.
DRONE TEAM CHALLENGE: UNMANNED AERIAL VEHICLES (UAVS) ARE THE WAY OF THE FUTURE AND TRAINING STUDENTS TO USE THEM EARLY ON GIVES THEM A COMPETITIVE ADVANTAGE THAT WILL BENEFIT THE STUDENT AS WELL AS THE WORKFORCE. BEGINNING AS EARLY AS 3RD GRADE, STUDENTS CAN DIVE INTO AN IMMERSIVE PROGRAM THAT WILL TAKE THEM THROUGH PROGRESSIVE TRAINING COMPLETELY PREPARING THEM FOR A VARIETY OF DRONE RELATED CAREER OPPORTUNITIES.
T.E.A.M.S.: RECOGNIZES AND REWARDS ELIGIBLE HIGH SCHOOL EDUCATORS WITH TOP TEAMS AWARDS OF $5,000 EACH AND MERIT AWARDS OF $500 EACH SPONSORED BY LOCAL BUSINESSES. SELECTION IS MADE THROUGH A NOMINATION AND APPLICATION PROCESS. NOMINATIONS MAY BE SUBMITTED BY ANYONE STUDENTS, PARENTS, COMMUNITY MEMBERS, FACULTY, AND TEACHERS MAY EVEN NOMINATE THEMSELVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul S Hsu Ph D President | Officer | 5 | $0 |
Majes Hsu Vice President | Officer | 0.5 | $0 |
D Timothy Herndon Secretary/treasurer | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $951,604 |
| Noncash contributions included in lines 1a–1f | $361,089 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $951,604 |
| Total Program Service Revenue | $163 |
| Investment income | $34 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $951,801 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $59,419 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $193,150 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $49,081 |
| Payroll taxes | $11,828 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,740 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,148 |
| Advertising and promotion | $17,589 |
| Office expenses | $144 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,000 |
| Travel | $14,329 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $44,884 |
| Total functional expenses | $1,616,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,091 |
| Savings and temporary cash investments | $26,251 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,884,924 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,015,266 |
| Accounts payable and accrued expenses | $22,272 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $8,000 |
| Other liabilities | $39,603 |
| Total liabilities | $69,875 |
| Net assets without donor restrictions | $1,945,391 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,015,266 |
Grants Awarded
Over the last fiscal year, Hsu Family Educational Foundation Inc has awarded $80,034 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
AUVSI PURPOSE: XPONENTIAL 2022 | $5,000 |
BRITTANY TATE PURPOSE: TEAMS AWARDS 2021 | $1,000 |
CHILDREN'S MIRACLE NETWORK HOSPITALS PURPOSE: CHARITABLE DONATION | $1,284 |
CHOCTAW IB PARENT FOUNDATION PURPOSE: CHARITABLE (REFUND) | $1,000 |
CHOCTAWHATCHEE HIGH - MU ALPHA THETA PURPOSE: CHIEF SPONSORSHIP | $1,000 |
CINCO CHRISTIAN SCHOOL PURPOSE: TEAMS AWARDS 2022 | $250 |