Grace & Joy Heritage Foundation
- Assets
- $766.7k
- Revenue
- $40.3k
- Investments
- $737.6k
- Employees
- 0
- Location
- Milpitas, CA
- Founding
- 02/2016
- Data as of
- 09/2023
- EIN
- 47-5518505
Organization Overview
Grace & Joy Heritage Foundation is located in Milpitas, CA. The organization was established in 2016. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace & Joy Heritage 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 09/2023, Grace & Joy Heritage Foundation generated $40.3k 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 (30.9%) each year. All expenses for the organization totaled $171.7k during the year ending 09/2023. 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
1.RELIGIOUS OUTREACH AND CARES FOR TRUE JESUS CHURCHTHE TRUE JESUS CHURCH AND THE GRACE AND JOY HERITAGE FOUNDATION HAS AGREED TO PERFORM THE JOB FOR THE FOLLOWING WORK TO PROMOTE THE COMMUNITY SOCIAL ACTIVITIES FOR THE GENERAL PUBLIC AS WELL AS THE CHURCH MEMBERS. THE ACTIVITIES INCLUDE BUT NOT LIMITED TO THE LIST BELOW.ORGANIZE PROGRAM OF THE EVANGELICAL SERVICES AND SPIRITUAL CONVOCATION TWICE A YEARORGANIZE PROGRAM OF THE HOSANNA OUTREACH EVENTS TWICE A YEARORGANIZE PROGRAM OF THE CARING TEAM IN SAN JOSE CHURCH AND EAST BAY CHURCHORGANIZE PROGRAM OF THE NORTHWEST REGION CHURCH MEMBERS SPIRITUAL GROWTHOTHER COMMUNITY PROGRAM TO PROMOTE THE MENTAL AND SPIRITUAL GROWTH OF THE COMMUNITYCREATE RELIGIOUS EDUCATION TEXTBOOKS FOR THE CHURCH RELIGIOUS CLASSESTHE ACTIVITIES WILL BE SUPPORTED BY MARY HU AND ADDITIONAL PERSONNEL PROVIDED BY THE GRACE & JOY HERITAGE FOUNDATION. THIS PROJECT WILL START FROM JULY 2017 AND CONTINUE UNTIL THE FOUNDATION DECIDE TO STOP IT.
2.CHURCH WEBPAGE AND MOBILE APPLICATIONSTHE TRUE JESUS CHURCH AND THE GRACE AND JOY HERITAGE FOUNDATION HAS AGREED TO PERFORM THE JOB FOR THE FOLLOWING WORK TO PROVIDE THE RELIGIOUS INFORMATION AND HYMNAL PRESENTATIONS ON THE CHURCH WEBSITE TO BENEFIT THE CHURCH MEMBERS AND THE GENERAL PUBLIC TO ACCESS THIS INFORMATION. THE ACTIVITIES INCLUDE BUT NOT LIMITED TO THE LIST BELOW.CREATE WEBPAGE CONTENTS AND STRUCTURE FOR THE CHURCHMAINTAIN AND IMPROVE TJC WEBPAGE USER INTERFACEMAINTAIN AND IMPROVE THE MOBILE APPS FOR IOS AND ANDROID MOBILE DEVICESINCLUDE WEBPAGE FOR MULTIPLE LANGUAGES SUPPORT, SUCH AS SPANISH, PORTUGUESE, ETC.MAINTAIN MOBILE APPS USER COMMUNICATIONCREATE AND MAINTAIN THE HYMNAL MOBILE APPS USER COMMUNICATIONTHE ACTIVITIES WILL BE SUPPORTED BY PETER KYONE AND ADDITIONAL PERSONNEL PROVIDED BY THE GRACE & JOY HERITAGE FOUNDATION. THIS PROJECT WILL START FROM JULY 2017 AND CONTINUE UNTIL THE FOUNDATION DECIDE TO STOP THE PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Y Chen President & CEO | 2 | $0 | |
Gracie L Chen Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,040 |
| Interest on Savings | $62 |
| Dividends & Interest | $23,193 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,807 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $22 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,854 |
| Total Revenue | $40,342 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $145,263 |
| Total operating and administrative expenses | $146,745 |
| Contributions, gifts, grants paid | $25,000 |
| Total expenses and disbursements | $171,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,096 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $60,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $766,702 |
| 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 | $56,396 |
| Total liabilities | $56,396 |
Grants Awarded
Over the last fiscal year, Grace & Joy Heritage Foundation has awarded $40,065 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
TRUE JESUS CHURCH IN SAN JOSE PURPOSE: DONATION | $10,000 |
WIKIMEDIA PURPOSE: DONATION | $5 |
KQED PURPOSE: DONATION | $60 |
TRUE JESUS CHURCH IN EAST BAY PURPOSE: DONATION | $30,000 |