Wemagic Foundation
- Assets
- $206.2k
- Revenue
- $16.1k
- Investments
- $203.8k
- Employees
- 0
- Location
- Los Altos Hills, CA
- Founding
- Data as of
- 12/2021
- EIN
- 85-4107512
Organization Overview
Wemagic Foundation is located in Los Altos Hills, CA. 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. Wemagic 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, Wemagic Foundation generated $16.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (68.6%) each year.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yinqing Zhao Director | 2 | $0 | |
Huisheng Wang CEO | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,809 |
| Interest on Savings | $0 |
| Dividends & Interest | $25 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,252 |
| Capital Gain Net Income | $1,252 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $16,086 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $6,680 |
| Contributions, gifts, grants paid | $18,000 |
| Total expenses and disbursements | $24,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,320 |
| 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 | $206,157 |
| 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, Wemagic Foundation has awarded $18,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE HOME OF CHRIST CHURCH IN MENLO PURPOSE: DONATION TO CHURCH | $12,000 |
Menlo Park, CA PURPOSE: DONATION TO LOCAL CHURCH | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Snap Foundation Santa Monica, CA | $165,494,601 | $537,573 |
John Pritzker Family Fund Redwood City, CA | $7,615,053 | $13,500,772 |
Newton And Rochelle Beckercharitable Trust Larkspur, CA | $179,394,273 | $14,820,252 |
Katie Mcgrath & J J Abrams Family Foundation Encino, CA | $5,090,305 | $12,922,680 |
Chuck Lorre Family Foundation Los Angeles, CA | $141,428,582 | $34,550,743 |
San Francisco Pretrial Diversion Project San Francisco, CA | $1,963,286 | $8,653,584 |
Elizabeth R & William J Patterson Foundation San Anselmo, CA | $0 | $2,038,322 |
Quest Foundation Danville, CA | $120,069,342 | $12,892,793 |
S Mark Taper Foundation Los Angeles, CA | $110,679,604 | $17,411,120 |
Moreno Family Foundation Phoenix, AZ | $117,327,204 | $12,846,787 |
William S And Nancy E Thompson Foundation Newport Beach, CA | $84,169,133 | $9,975,811 |
The Lakeview Foundation Greenbrae, CA | $2,321,091 | $1,301,410 |