Hong Kong Asociation Of Washington Foundation
- Assets
- $372.9k
- Revenue
- $663.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Redmond, WA
- Founding
- 02/2010
- Data as of
- 09/2020
- EIN
- 27-0930865
Organization Overview
Hong Kong Asociation Of Washington Foundation is located in Redmond, WA. The organization was established in 2010. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hong Kong Asociation Of Washington 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 09/2020, Hong Kong Asociation Of Washington Foundation generated $663.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.4% each year . All expenses for the organization totaled $365.1k during the year ending 09/2020. While expenses have increased by 28.1% per year over the past 6 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, Hong Kong Asociation Of Washington Foundation has awarded 12 individual grants totaling $470,250. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FUNDING FOR EDUCATIONAL, MEDICAL, MUSICAL AND ATHLETICADVANCEMENT OF ASIAN AMERICAN; TO HOST AN ANNUAL FUNDRAISING GALA TO RAISE MONEY FOR QUALIFIED CHARITIES;
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FUNDING FOR THE SEATTLE ASIAN ARTS MUSEUM, A NON-PROFIT CORPORATION;
COVID-19 EMERGENCY GRANT TO V GARDEN, A LOCAL SMALL BUSINESS;
COVID-19 EMERGENCY GRANT TO MEGASTAR BBQ RESTAURANT, LLC, A LOCAL SMALL BUSINESS;
COVID-19 EMERGENCY GRANTS TO VARIOUS SMALL BUSINESSES IN THE GREATER SEATTLE AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Yip Vice President | OfficerTrustee | 5 | $0 |
Tony Chang Treasurer | OfficerTrustee | 5 | $0 |
Cynthia So Secretary | OfficerTrustee | 5 | $0 |
Benjamin Lee President | OfficerTrustee | 5 | $0 |
Nelson Lee Director | OfficerTrustee | 5 | $0 |
Nora Chan Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $659,028 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,708 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $663,736 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $325 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $300 |
| All other expenses | $0 |
| Total functional expenses | $365,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $335,195 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $372,871 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $372,871 |
Grants Awarded
Over the last fiscal year, Hong Kong Asociation Of Washington Foundation has awarded $202,750 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PACE PURPOSE: DONATION | $200,000 |
SENIORS IN ACTION FOUNDATION PURPOSE: DONATION | $2,250 |
Seattle, WA PURPOSE: DONATION | $500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hong Kong Asociation Of Washington Foundation has recieved totaling $10,782.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,391 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,391 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Icicle Fund Leavenworth, WA | $35,216,436 | $2,172,420 |
Mobile Giving Foundation Inc Bellevue, WA | $1,290,105 | $2,127,600 |
Khaki Foundation Kirkland, WA | $13,170,467 | $2,724,072 |
Spokane Arts Fund Spokane, WA | $298,205 | $936,614 |
Bridging Cultural Gaps Tukwila, WA | $28,155 | $691,992 |
Realnetworks Foundation Seattle, WA | $12,313,294 | $977,519 |
Idaho Heritage Trust Incorporated Boise, ID | $17,430,404 | $627,633 |
Hong Kong Asociation Of Washington Foundation Redmond, WA | $372,871 | $663,736 |
American Friends Of Maru A Pula School Inc Seattle, WA | $608,270 | $597,417 |
Arts Action Alliance Foundation Oregon City, OR | $222,133 | $357,119 |
Lakeland Foundation Bellingham, WA | $10,581,287 | $238,817 |
Trel Foundation Carlton, OR | $7,662,505 | $269,769 |