Laygend Foundation
- Assets
- $128.6m
- Revenue
- $674.2k
- Investments
- $126.4m
- Employees
- 0
- Location
- Rancho Santa Fe, CA
- Founding
- Data as of
- 12/2023
- EIN
- 87-2737376
Organization Overview
Laygend Foundation is located in Rancho Santa Fe, CA. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Laygend 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, Laygend Foundation generated $674.2k in total revenue. All expenses for the organization totaled $7.5m during the year ending 12/2023.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, LAYGEND FOUNDATION ESTABLISHED AN ENDOWMENT FUND WITH UC SAN DIEGO BIOENGINEERING DEPARTMENT IN SUPPORTING AND EMPOWERING UC SAN DIEGO BIOENGINEERING DEPARTMENT TO BUILD ON ITS WELL-RECOGNIZED STRENGTHS IN TEACHING, RESEARCH AND BIOTECHNOLOGY WORKFORCE DEVELOPMENT IN THE FUTURE YEARS AND IN HONORING SHU CHIEN, A UC SAN DIEGO EMERITUS PROFESSOR OF BIOENGINEERING AND MEDICINE WHO IS A RENOWNED BIOENGINEERING RESEARCHER, EDUCATOR AND MENTOR. THE FIRST GRANT OF $2.5 MILLION WAS GIFTED IN 2022.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeng-Guang Lay President & CEO | 3 | $0 | |
Nan Jiang Secretary | 0.25 | $0 | |
Mintsen Chen Treasurer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000 |
| Interest on Savings | $303,963 |
| Dividends & Interest | $365,267 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $674,230 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $40,713 |
| Contributions, gifts, grants paid | $7,500,000 |
| Total expenses and disbursements | $7,540,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,582 |
| Savings and temporary cash investments | $2,243,438 |
| 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 | $126,391,983 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $128,639,003 |
| Accounts payable and accrued expenses | $570 |
| 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 | $570 |
Grants Awarded
Over the last fiscal year, Laygend Foundation has awarded $7,500,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
REGENTS OF UNIVERSITY OF CALIFORNIA PURPOSE: POSTSECONDARY EDUCATION:THE ENDOWMENT WILL BUILD ON THE UCSD'S DEPARTMENT OF BIOENGINEERING EXCELLENCE BY PROVIDING TRANSFORMATIVE ANNUAL RECURRING SUPPORT FOR RESEARCH AND EDUCATION. COLLECTIVELY, THIS FUNDING WILL BE CRITICAL FOR THE DEPARTMENT'S EFFORTS TO BRIDGE GAPS BETWEEN BIOENGINEERING RESEARCH AND CLINICAL IMPACTS THAT DIRECTLY IMPROVE HUMAN HEALTH. | $2,500,000 |
HAVARD BRIGHAM AND WOMAN HOSPITAL PURPOSE: LAYGEND FOUNDATION ESTABLISHED GENE LAY INSTITUTE OF IMMUNOLOGY AND INFLAMMATION IN MAY 2023 AND PLEDGED AN ENDOWMENT FUND IN SUPPORTING AND EMPOWERING MULTI-INSTITUTION TEAM AND COLLECTIVE EFFORTS OF BRIGHAM & WOMAN HOSPITAL, MASSACHUSETTS GENERAL HOSPITAL AND HARVARD MEDICAL SCHOOL FOR RESEARCH ACTIVITIES IN THE AREAS OF IMMUNOLOGY AND INFLAMMATION AND TRANSLATE RESEARCH DISCOVERY INTO THERAPIES AND BRING SOLUTIONS TO PATIENTS AND FAMILIES. THE PRIMARY AREAS OF RESEARCH WILL INCLUDE BASIC UNDERSTANDING OF IMMUNE-MEDIATED DISEASES, AGING, AND CANCER AND TRANSLATION OF THIS KNOWLEDGE TO THE DEVELOPMENT OF NEW IMMUNOTHERAPIES AND BUILD NEW KNOWLEDGE TO PROMOTE BASIC UNDERSTANDING FOR PREVENTING AND TREATING IMMUNE-MEDIATED DISEASES. IN ADDITION, THE GENE LAY INSTITUTE WILL PROVIDE SUBSTANTIAL TRAINING OPPORTUNITIES FOR STUDENTS AND FELLOWS TO SUPPORT IMMUNOLOGY INNOVATORS OF THE FUTURE. | $5,000,000 |