Ming Chen Foundation
- Assets
- $191.8k
- Revenue
- $7.6k
- Investments
- $157.9k
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 12/2016
- Data as of
- 12/2023
- EIN
- 81-4187976
Organization Overview
Ming Chen Foundation is located in Honolulu, HI. 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. Ming Chen 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, Ming Chen Foundation generated $7.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (67.8%) each year. All expenses for the organization totaled $23.4k during the year ending 12/2023. 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
SCHOLARSHIP PROGRAM: ........AWARDED 1 SCHOLARSHIPS TO MEDICAL STUDENTS TO LEARN OPTHOMOLOGY.
EDUCATIONAL PROGRAM: ........AWARD TO CATARACT AND REFRACTIVE SOCIETY FOR SEMNARS ON OPTHALMIC SURGERY.
EDUCATIONAL PROGRAM: .........AWARD TO KICKSTART FOR AFTER SCHOOL KARATE TRAINING OF 200 CHILDREN.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ming Chen President | 1 | $0 | |
Dick Chen Vice President | 1 | $0 | |
Ronald T C Young Treasurer | 1 | $0 | |
Crystal Kahn Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,126 |
| Dividends & Interest | $2,767 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,731 |
| Capital Gain Net Income | $3,731 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,624 |
| 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 | $899 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,037 |
| Total operating and administrative expenses | $2,936 |
| Contributions, gifts, grants paid | $20,500 |
| Total expenses and disbursements | $23,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $29,869 |
| 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 | $4,047 |
| Other assets | $0 |
| Total assets | $191,823 |
| 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, Ming Chen Foundation has awarded $20,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MELISA TAKAHASHI PURPOSE: SCHOLARSHIP | $4,000 |
KICK START PURPOSE: SCHOLARSHIP | $1,500 |
SCORH PURPOSE: SCHOLARSHIP | $5,000 |
UNIVERSITY OF HAWAII FOUNDATION PURPOSE: SCHOLARSHIP | $10,000 |