Liang Family Foundation 061002
- Assets
- $935.1k
- Revenue
- $158.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Irvine, CA
- Founding
- 07/2002
- Data as of
- 12/2023
- EIN
- 72-6213757
Organization Overview
Liang Family Foundation 061002 is located in Irvine, CA. The organization was established in 2002. 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. Liang Family Foundation 061002 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, Liang Family Foundation 061002 generated $158.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $91.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (11.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Liang Family Foundation 061002 has awarded 21 individual grants totaling $343,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kai Liang Trustee | 0 | $0 | |
Daphen Liang Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $80,000 |
| Interest on Savings | $1,053 |
| Dividends & Interest | $21,737 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $55,668 |
| Capital Gain Net Income | $55,668 |
| Net ST Capital Gain | $8,247 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $158,458 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,789 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $40 |
| Total operating and administrative expenses | $17,777 |
| Contributions, gifts, grants paid | $73,500 |
| Total expenses and disbursements | $91,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,983 |
| Savings and temporary cash investments | $871,148 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $935,131 |
| 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, Liang Family Foundation 061002 has awarded $73,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BOWERS MUSEUM PURPOSE: EXHIBITION SUPPORT | $2,000 |
HOAG HOSPITAL PURPOSE: MEDICAL DEVELOPMENT | $60,000 |
GREAT ENLIGHTENMENT BUDDHIST INSTIT PURPOSE: RELIGIOUS SUPPORT | $7,500 |
AMERICAN LOTUS BUDDHIST ASSOCIATION PURPOSE: RELIGIOUS SUPPORT | $3,000 |
ORANGE COUNTY COMMUNITY FOUNDATION PURPOSE: SCHOLARSHIP FUND | $1,000 |