Icare Philanthropic Foundation
- Assets
- $1.2m
- Revenue
- $278.4k
- Investments
- $1.2m
- Employees
- 0
- Location
- Arcadia, CA
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 81-3539860
Organization Overview
Icare Philanthropic Foundation is located in Arcadia, CA. The organization was established in 2017. 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. Icare Philanthropic 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 12/2022, Icare Philanthropic Foundation generated $278.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.5% each year . All expenses for the organization totaled $128.3k during the year ending 12/2022. While expenses have increased by 38.6% 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.
Since 2016, Icare Philanthropic Foundation has awarded 157 individual grants totaling $371,930. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOT MEALS AND FESTIVAL MEALS AT NURSING HOMES AROUND LOS ANGELES COUNTY; TO EXPRESS THE CARING AND LOVING ATTITUDE TOWARDS THE SENIORS AND TO ALLEVIATE THEIR LONELINESS AND ISOLATION AND TO THEIR BIRTHDAYS, HOLIDAY SEASONS SUCH AS CHRISTMAS, THANKSGIVING, AND NEW YEAR CELEBRATION, ETC.
SPONSOR HIGHLY MOTIVATED HIGH SCHOOL SENIORS FROM LOW INCOME FAMILIES AND TO COLLEGE STUDENTS WITH FINANCIAL HARDSHIPS; MEET OR SEND INFORMATION PACKETS TO LOCAL HIGH SCHOOL COUNSELORS AND FINALLY PROMOTE THE SCHOLARSHIP PROGRAM VIA LOCAL NEWSPAPERS, RADIO OR TV.
TO SPONSOR VARIOUS EDUCATIONAL, MEDICAL, AND CHARITABLE EVENTS HELD BY CHARITABLE ORGANIZATIONS INCLUDING THE LOCAL SERVICE CLUBS, FOUNDATION, AND CHARITABLE GROUPS THAT BENEFIT GENERAL COMMUNITY FOR THEIR CHARITABLE CAUSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Ho President & CEO | 3 | $0 | |
Dianna Chin Secretary | 1 | $0 | |
Jackson Wu Director | 1 | $0 | |
Joanne Lieu Director | 1 | $0 | |
Andy Chen Director | 1 | $0 | |
Kathay Huang CFO | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $240,360 |
| Interest on Savings | $42 |
| Dividends & Interest | $17,451 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,487 |
| Capital Gain Net Income | $20,487 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $76 |
| Total Revenue | $278,416 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $804 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,325 |
| Total operating and administrative expenses | $6,016 |
| Contributions, gifts, grants paid | $122,270 |
| Total expenses and disbursements | $128,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,759 |
| 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 | $1,169,929 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $221 |
| Total assets | $1,198,909 |
| 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, Icare Philanthropic Foundation has awarded $122,270 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
CHINESE AMERICAN PROFESSIONAL ASSOCIATIO PURPOSE: CHARITABLE PURPOSE | $4,000 |
BUDDHIST TZU CHI FOUNDATION PURPOSE: CHARITABLE PURPOSE | $6,000 |
EAST LOS ANGELES COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $2,500 |
MP PRAJNA BUDDHIST MISSION PURPOSE: CHARITABLE PURPOSE | $600 |
WONG TAI-SEN TAOISM CENTER PURPOSE: CHARITABLE PURPOSE | $100 |
WISH OF ANGELS MISSIONS PURPOSE: CHARITABLE PURPOSE | $2,000 |