Richard & Scarlett Chang Family Foundation
- Assets
- $1.3m
- Revenue
- $102.1k
- Investments
- $957.0k
- Employees
- 0
- Location
- Allen, TX
- Founding
- 08/2004
- Data as of
- 12/2022
- EIN
- 04-3657039
Organization Overview
Richard & Scarlett Chang Family Foundation is located in Allen, TX. The organization was established in 2004. 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. Richard & Scarlett Chang 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, Richard & Scarlett Chang Family Foundation generated $102.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $73.7k during the year ending 12/2022. While expenses have increased by 5.3% per year over the past 8 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.
Since 2016, Richard & Scarlett Chang Family Foundation has awarded 16 individual grants totaling $418,550. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Chang Chairman | 1 | $0 | |
Scarlett Chang Treasurer | 1 | $0 | |
Eric C Ko Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $20 |
| Dividends & Interest | $38,876 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $13,207 |
| Capital Gain Net Income | $13,207 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $102,103 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $914 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,597 |
| Total operating and administrative expenses | $8,718 |
| Contributions, gifts, grants paid | $65,000 |
| Total expenses and disbursements | $73,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $305,075 |
| 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 | $518 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $806,948 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,262,546 |
| 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, Richard & Scarlett Chang Family Foundation has awarded $65,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHINESE CHRISTIAN FELLOWSHIP INTERNATIONAL PURPOSE: GENERAL OPERATING FUND | $35,000 |
CHRISTIAN RENEWAL MINISTRIES PURPOSE: GENERAL OPERATING FUND | $30,000 |