Michael Yang Foundation
- Assets
- $281.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Salisbury, NC
- Founding
- 03/2003
- Data as of
- 12/2023
- EIN
- 51-0424438
Organization Overview
Michael Yang Foundation is located in Salisbury, NC. The organization was established in 2003. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael Yang 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, Michael Yang Foundation generated $5.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (12.9%) each year. All expenses for the organization totaled $10.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (7.0%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MICHAEL YANG FOUNDATION WAS FORMED IN RESPONSE TO AREAS OF NEED RECOGNIZED BY THE FOUNDERS OF THE ORGANIZATION WHO EXPERIENCED A LOSS OF A CHILD AT A VERY EARLY AGE. THE FOUNDATION WAS FORMED TO HELP IN THREE SPECIFIC AREAS: 1 - GRIEF SUPPORT PROGRAM FOR BEREAVED PARENTS IN SALISBURY, NC AND SURROUDING AREA FOR PARENTS WHO HAVE LOST A CHILD. THE FOUNDATION PAYS THE COSTS OF THE COUSELORS FOR THIS PROGRAM. 2 - KINDERMUSIK IS A MUSIC EDUCATION PROGRAM FOR CHILDREN RANGING IN AGE FROM BIRTH TO SEVEN YEARS OF AGE. THE FOUNDATION WILL SPONSOR A CHILD EACH SEMESTER TO HELP A CHILD EXPERIENCE THE BENEFITS OF MUSIC ENRICHMENT DURING THE EARLY YEARS OF LIFE. 3 - THE MICHAEL YANG FOUNDATION WILL SPONSOR A HIGH SCHOOL STUDENT EACH SUMMER TO PARTICIPATE IN A CHRISTIAN ORGANIZATION FOR DISINTERESTED TEENAGER - YOUNG LIFE. OTHER OPPORTUNITIES TO HELP THE YOUTH OF THE COMMUNITY ARE ALWAYS BEING EXPLORED.
Describe the Organization's Program Activity:
Part 3
GRIEF SUPPORT GROUP FOR PARENTS WHO HAVE LOST A YOUNG CHILD
MUSIC EDUCATION SCHOLARSHIP FOR YOUNG CHILDREN - KINDERMUSIK
SUPPORT PROGRAM FOR DISINTERESTED TEENAGERS - YOUNG LIFE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Cataldo Director | 0 | $0 | |
Brian Miller Director | 0 | $0 | |
Kathy Rusher Director | 0 | $0 | |
Kathi Russo Director | 0 | $0 | |
Billy Webb Director | 0 | $0 | |
Lori Yang President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,699 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $5,699 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $4,326 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $4,391 |
| Total expenses | $10,717 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $281,118 |
| Other assets | $0 |
| Total assets | $281,118 |
| Total liabilities | $0 |
| Net assets or fund balances | $281,118 |