Iet Foundation
- Assets
- $1.9m
- Revenue
- $77.0k
- Investments
- $1.9m
- Employees
- 0
- Location
- San Diego, CA
- Founding
- 01/1995
- Data as of
- 12/2021
- EIN
- 84-1224708
Organization Overview
Iet Foundation is located in San Diego, CA. The organization was established in 1995. 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. Iet 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, Iet Foundation generated $77.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (32.7%) each year. All expenses for the organization totaled $108.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Iet Foundation has awarded 13 individual grants totaling $180,000. 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 |
|---|---|---|---|
Agnes Wang Director | 1 | $0 | |
Margaret Wang Director | 0 | $0 | |
Katherine Wang Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $33,891 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $43,136 |
| Capital Gain Net Income | $43,136 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $77,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $13,240 |
| Contributions, gifts, grants paid | $95,000 |
| Total expenses and disbursements | $108,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,170 |
| 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 | $1,936,668 |
| 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, Iet Foundation has awarded $95,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
CASA DE LAS CAMPANAS FOUNDATION PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES | $10,000 |
COLORADO SCHOOL OF MINES FOUNDATION PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES | $20,000 |
THE ELIZABETH HOSPICE PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES | $10,000 |
NATIONAL ASSOC OF VA OPTOMETRISTS PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES | $5,000 |
S CALIFORNIA COLLEGE OF OPTOMETRY PURPOSE: TO SUPPORT SDVA RESIDENCY EDUCATION PROGRAM ACTIVITIES | $5,000 |
SCRIPPS HEALTH FOUNDATION PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES FOR MEDICAL PROFESSIONALS | $25,000 |