Hwei Lin And Thomas Sung Foundation Inc
- Assets
- $3.4m
- Revenue
- $253.2k
- Investments
- $3.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/2018
- Data as of
- 12/2022
- EIN
- 82-3662877
Organization Overview
Hwei Lin And Thomas Sung Foundation Inc is located in New York, NY. The organization was established in 2018. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Hwei Lin And Thomas Sung Foundation Inc 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, Hwei Lin And Thomas Sung Foundation Inc generated $253.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (39.0%) each year. All expenses for the organization totaled $7.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hwei Lin And Thomas Sung Foundation Inc has awarded 28 individual grants totaling $438,400. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT GRANT TO THE UNIVERSITY OF FLORIDA FOUNDATION INC TO FURTHER AGRICULTURE AND LIFE SERVICE ON 12/16/2021
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Sung President | 4 | $0 | |
Hwei Lin Sung Vice President | 1 | $0 | |
Vera Sung Secretary | 2 | $0 | |
Jill Sung Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $149,934 |
| Interest on Savings | $6,482 |
| Dividends & Interest | $28,638 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $68,084 |
| Capital Gain Net Income | $68,084 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $80 |
| Total Revenue | $253,218 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,876 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $86 |
| Total operating and administrative expenses | $4,562 |
| Contributions, gifts, grants paid | $3,000 |
| Total expenses and disbursements | $7,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,444 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,421,076 |
| 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, Hwei Lin And Thomas Sung Foundation Inc has awarded $102,400 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF FLORIDA FOUNDATION IN PURPOSE: CONTRIBUTION | $100,000 |
RINGLING COLLEGE OF ART AND DESIGN PURPOSE: CONTRIBUTION | $300 |
BEST FRIENDS ANIMAL SOCIETY PURPOSE: CONTRIBUTION | $500 |
SPARCC PURPOSE: CONTRIBUTION | $200 |
ASPCA PURPOSE: CONTRIBUTION | $300 |
SARASOTA MEMORIAL HEALTH CARE FOUND PURPOSE: OCONTRIBUTION | $200 |