Friends Of Taiwan Foundation
- Assets
- $112.3k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Libertyville, IL
- Founding
- 10/2017
- Data as of
- 12/2020
- EIN
- 81-4535104
Organization Overview
Friends Of Taiwan Foundation is located in Libertyville, IL. The organization was established in 2017. 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. Friends Of Taiwan 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 12/2020, Friends Of Taiwan Foundation generated $1.1m in total revenue. All expenses for the organization totaled $983.1k during the year ending 12/2020.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE FRIENDS OF TAIWAN FOUNDATION IS A SECULAR, APOLITICAL, AND NON-PROFIT ORGANIZATION THAT AIMS TO PROMOTE A FRIENDLY RELATIONSHIP BETWEEN THE RESPECTIVE PEOPLE OF THE UNITED STATES AND TAIWAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DUE TO THE COVID-19 FRIENDS OF TAIWAN FOUNDATION DONATED MILLIONS OF MEDICAL FACE MASKS IMPORTED FROM TAIPEI CITY TAIWAN AND DONATE TO THE COMMUNITY IN NEED IN IL, CA AND MD. FOR EXAMPLE, STEPPING STONES SHELTER , BALTIMORE POLICE DEPARTMENT, YWCA CENTER,AND MUSLIM COMMUNITY IN MD RECEIVED 10,000 MASKS EACH AND YOUTH FOR TOMORROW CENTER IN VA RECEIVED 10,000 AS WELL.
DONATED PPE SUPPLIES AND MEDICAL MASKS TO SENOR CENTERS IN NEED DUE TO THE COVID-19 PANDEMIC. FOR EXAMPLE, FRIENDS OF TAIWAN FOUNDATION DONATED 30,000 FACE MASKS TO THE CCBA SENIOR CENTER IN WASHINGTON DC.
IMPORTED FDA CERTIFIED FACIAL MASKS FROM TAICHUNG CITY TAIPEI, AND DONATED TO LOCAL ORGANIZATIONS AND COMMUNITY DURING THE PANDEMIC. IN JUNE 2020, FRIENDS OF TAIWAN DONATED 20,000 FACE MASKS TO THE CHANDLER PUBLIC SAFETY AND POLICE & FIRE DEPARTMENTS IN PHOENIX ARIZONA AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Junior Hsu President | OfficerTrustee | $0 | |
Eric Chiou Director | OfficerTrustee | $0 | |
Monique Lee Treasurer | OfficerTrustee | $0 | |
Tsueng-Neng Chen Secretary | OfficerTrustee | $0 | |
Jerry Lee Director | OfficerTrustee | $0 | |
Lawrence Ming-Lung Tang Director | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,086,741 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,086,741 |
| Total Program Service Revenue | $0 |
| Investment income | $439 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,087,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $967,342 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $7,545 |
| Total functional expenses | $983,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,692 |
| Savings and temporary cash investments | $104,601 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $112,293 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $112,293 |
| Total liabilities and net assets/fund balances | $112,293 |