Fang Family Foundation
- Assets
- $5.4m
- Revenue
- $273.1k
- Investments
- $5.4m
- Employees
- 0
- Location
- Bountiful, UT
- Founding
- 05/2000
- Data as of
- 12/2022
- EIN
- 87-0643999
Organization Overview
Fang Family Foundation is located in Bountiful, UT. The organization was established in 2000. 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. Fang Family 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 12/2022, Fang Family Foundation generated $273.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $276.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Fang Family Foundation has awarded 49 individual grants totaling $841,765. 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
SCHOLARSHIPS
CONTRIBUTIONS TO OTHER CHARITIES AND CHARITABLE FOUNDATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theresa S Fang President | 1 | $2,400 | |
Judy Fang Vice President | 10 | $24,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $73 |
| Dividends & Interest | $91,946 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $177,767 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,354 |
| Total Revenue | $273,140 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $26,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $159 |
| Taxes | $1,836 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $65,445 |
| Total operating and administrative expenses | $95,340 |
| Contributions, gifts, grants paid | $181,486 |
| Total expenses and disbursements | $276,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $5,391,037 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,391,037 |
| 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, Fang Family Foundation has awarded $181,486 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
SALT LAKE CHINESE CHOIR PURPOSE: CONTRIBUTION | $10,000 |
WESTMINISTER COLLEGE PURPOSE: SCHOLARSHIPS | $13,125 |
NATURAL HISTORY MUSEUM OF UTAH PURPOSE: CONTRIBUTION | $1,000 |
CHINESE SOCIETY OF UTAH PURPOSE: CONTRIBUTION | $1,000 |
THE OFF BROADWAY THEATER PURPOSE: CONTRIBUTION | $5,000 |
TAIWAN - TAGSL ASSOCIATION PURPOSE: CONTRIBUTION | $5,000 |