Gerri And Rich Wong Family Foundation
- Assets
- $6.8m
- Revenue
- $3.5m
- Investments
- $3.4m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- Data as of
- 12/2022
- EIN
- 85-3971817
Organization Overview
Gerri And Rich Wong Family Foundation is located in Wilmington, DE. 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. Gerri And Rich Wong Family 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, Gerri And Rich Wong Family Foundation generated $3.5m in total revenue. All expenses for the organization totaled $833.7k during the year ending 12/2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Geraldine Wong Dir, Pres | 1 | $0 | |
Richard Wong Dir, Sec, Treas | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,597,767 |
| Interest on Savings | $9,969 |
| Dividends & Interest | $70,738 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$147,655 |
| Capital Gain Net Income | $3,319,384 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $25 |
| Total Revenue | $3,530,844 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,692 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20,272 |
| Total operating and administrative expenses | $47,749 |
| Contributions, gifts, grants paid | $786,000 |
| Total expenses and disbursements | $833,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,399,370 |
| 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 | $6,834,655 |
| 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, Gerri And Rich Wong Family Foundation has awarded $786,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CITY COLLEGES OF CHICAGO FOUNDATION PURPOSE: ROMULO V. RONQUILLO MEMORIAL ENDOWMENT FUND FOR RESPIRATORY CARE, THE ENDOWMENT FUND, AND THE DISTRIBUTION SCHOLARSHIP FUND | $211,000 |
CITY OF BURLINGAME PURPOSE: BURLINGAME PARKS & REC. FOUNDATION | $100,000 |
MASSACHUSETTS INSTITUTE OF TECHNOLOGY PURPOSE: EFFECTIVENESS & INEQUALITY FUND, MIT DELTA V, AND HUMANITIES FUND | $150,000 |
UNIVERSITY OF CHICAGO PURPOSE: RUSTANDY AND THE IEL URBAN LAB PARTNERSHIP AND THE ODYSSEY SCHOLARSHIP | $325,000 |