Hong Foundation
- Assets
- $1.0m
- Revenue
- $180.4k
- Investments
- $466.3k
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 06/2011
- Data as of
- 09/2023
- EIN
- 27-2549443
Organization Overview
Hong Foundation is located in Palo Alto, CA. The organization was established in 2011. 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. Hong 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 09/2023, Hong Foundation generated $180.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $61.9k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hong Foundation has awarded 18 individual grants totaling $127,743. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
SUPPORT THE CHURCH, HOME OF CHRIST, FOR IT'S RELIGIOUS ACTIVITIES
SUPPORT LOCAL NONPROFIT ORGANIZATIONS AND SCHOOLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miao Hong President | 10 | $0 | |
Lei Fu CFO | 5 | $0 | |
Yun Hong Cmo | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $150,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $18,538 |
| 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 | $180,380 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,681 |
| Depreciation | $3,864 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,167 |
| Total operating and administrative expenses | $14,907 |
| Contributions, gifts, grants paid | $46,998 |
| Total expenses and disbursements | $61,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $406,687 |
| Savings and temporary cash investments | $0 |
| 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 | $132,427 |
| Investments—mortgage loans | $0 |
| Investments—other | $466,265 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,005,379 |
| 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, Hong Foundation has awarded $46,998 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FIFTH HOME OF CHRIST CHURCH PURPOSE: CHARITABLE DONATION | $2,700 |
STANFORD FUND PURPOSE: CHARITABLE DONATION | $34,298 |
HYSTA-HUAYUAN SCIENCE PURPOSE: CHARITABLE DONATION | $10,000 |