Wa Sang Foundation
- Assets
- $3.5m
- Revenue
- $620.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 08/1994
- Data as of
- 12/2021
- EIN
- 94-3113810
Organization Overview
Wa Sang Foundation is located in Seattle, WA. The organization was established in 1994. According to its NTEE Classification (O99) the organization is classified as: Youth Development N.E.C., under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. WA Sang 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 12/2021, WA Sang Foundation generated $620.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $595.0k during the year ending 12/2021. While expenses have increased by 4.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE REX APARTMENTS PROVIDE 30 UNITS OF LOW INCOME HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Spiess President | OfficerTrustee | 2 | $0 |
Ling Chinn Director | Trustee | 2 | $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 | $135,776 |
| Noncash contributions included in lines 1a–1f | $135,776 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $135,776 |
| Total Program Service Revenue | $303,534 |
| Investment income | $121,807 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $51,532 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $620,068 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $321 |
| Payroll taxes | $5,138 |
| Fees for services: Management | $49,827 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,763 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,454 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,522 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $120,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $450 |
| Interest | $135,776 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,903 |
| Insurance | $40,503 |
| All other expenses | $16,209 |
| Total functional expenses | $595,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,900 |
| Savings and temporary cash investments | $119,657 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,258 |
| 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 | $6,380 |
| Net Land, buildings, and equipment | $221,902 |
| Investments—publicly traded securities | $2,973,023 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,020 |
| Total assets | $3,494,140 |
| Accounts payable and accrued expenses | $32,414 |
| 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 | $2,011,489 |
| Unsecured mortgages and notes payable | $149,900 |
| Other liabilities | $40,697 |
| Total liabilities | $2,234,500 |
| Net assets without donor restrictions | $1,259,640 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,494,140 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stand For Children Leadership Center Portland, OR | $49,704,888 | $40,592,191 |
Friends Of Kexp Seattle, WA | $29,661,098 | $14,424,316 |
Skagit Gleaners Mount Vernon, WA | $1,099,319 | $4,011,965 |
Siff Seattle, WA | $8,790,308 | $6,032,606 |
Homewood Corporation Milwaukie, OR | $6,584,808 | $3,048,187 |
Providence Heights Fka The Purpose Bellevue, WA | $466,267 | $1,310,046 |
Camp Tamarack Bend, OR | $692,255 | $1,157,688 |
West Seattle Helpline Seattle, WA | $0 | $474,328 |
Toy And Joymakers Program Portland Bureau Of Fire Portland, OR | $1,303,587 | $660,877 |
Wa Sang Foundation Seattle, WA | $3,494,140 | $620,068 |
One Roof Foundation Seattle, WA | $48,330 | $573,451 |
Restore Assemble Produce Kent, WA | $104,313 | $484,364 |