Farfy Foundation
- Assets
- $6.4m
- Revenue
- $562.0k
- Investments
- $6.2m
- Employees
- 0
- Location
- La Jolla, CA
- Founding
- 02/2019
- Data as of
- 12/2023
- EIN
- 83-2432751
Organization Overview
Farfy Foundation is located in La Jolla, CA. The organization was established in 2019. 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. Farfy 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, Farfy Foundation generated $562.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (35.2%) each year. All expenses for the organization totaled $528.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Farfy Foundation has awarded 18 individual grants totaling $789,808. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FARFY FOUNDATION MADE DIRECT GRANTS SCHOOLS TO SUPPORT UNDERPRIVILEGED GIRLS OBTAIN AN EDUCATION THEY WOULD OTHERWISE BE UNABLE TO AFFORD.
THE FARFY FOUNDATION MADE DIRECT GRANTS TO RESEARCH INSTITUTIONS TO PROVIDE FUNDING FOR RESEARCH FELLOWSHIPS AND APPRENTICESHIPS FOR WOMEN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Liqun Wang Executive Dir. | 0 | $0 | |
Marco Londei Director | 40 | $140,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $121,399 |
| Dividends & Interest | $39,713 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $400,916 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $562,028 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $140,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $20,956 |
| Taxes | $11,716 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $86,847 |
| Total operating and administrative expenses | $261,844 |
| Contributions, gifts, grants paid | $266,858 |
| Total expenses and disbursements | $528,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,810 |
| Savings and temporary cash investments | $0 |
| 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 | $374,503 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,449,866 |
| 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, Farfy Foundation has awarded $266,858 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
SCIENCE CLUB FOR GIRLS PURPOSE: TO ALLOW FOR THE EDUCATION OF UNDERPRIVELGED GIRLS | $20,858 |
SCRIPPS RESEARCH PURPOSE: GRADUATE EDUCATION FOR MINORITY STUDENTS | $50,000 |
THE MENLO SCHOOL PURPOSE: TO ALLOW FOR THE EDUCATION OF UNDERPRIVILIGED GIRLS. | $6,000 |
UCSD PURPOSE: GRADUATE EDUCATION FOR MINORITY STUDENTS | $90,000 |
DO GOOD USA PURPOSE: FEMALE ENTREPRENUERSHIP | $100,000 |