Cheng Family Foundation
- Assets
- $8.8m
- Revenue
- $2.4m
- Investments
- $7.3m
- Employees
- 0
- Location
- Pasadena, CA
- Founding
- 02/2013
- Data as of
- 12/2022
- EIN
- 90-0883149
Organization Overview
Cheng Family Foundation is located in Pasadena, CA. The organization was established in 2013. 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. Cheng 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, Cheng Family Foundation generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $781.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Cheng Family Foundation has awarded 115 individual grants totaling $6,103,018. 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
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Cheng President & Director | 30 | $273,000 | |
Keith Cheng Director & Secretary | 2 | $0 | |
Jean Ling Director | 0.5 | $0 | |
Eugene Cheng Director & Treasurer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $36,106 |
| Interest on Savings | $5,843 |
| Dividends & Interest | $64,034 |
| Net Rental Income | -$45,447 |
| Net Gain on Sale of Assets | $2,491,423 |
| Capital Gain Net Income | $2,270,916 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$228,432 |
| Total Revenue | $2,438,652 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $273,000 |
| Other employee salaries and wages | $58,317 |
| Pension plans, employee benefits | $4,500 |
| Interest | $0 |
| Taxes | $40,127 |
| Depreciation | $29,564 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,577 |
| Printing and publications | $0 |
| Other expenses | $110,733 |
| Total operating and administrative expenses | $551,378 |
| Contributions, gifts, grants paid | $229,657 |
| Total expenses and disbursements | $781,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,949 |
| Savings and temporary cash investments | $140,092 |
| 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 | $1,345,990 |
| Investments—mortgage loans | $2,500,000 |
| Investments—other | $140,886 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,844,601 |
| 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 | $5,088 |
| Total liabilities | $5,088 |
Grants Awarded
Over the last fiscal year, Cheng Family Foundation has awarded $229,657 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
GRAND CIRCLE FOUNDATION PURPOSE: GENERAL SUPPORT | $35,000 |
THE HUNTINGTON LIBRARY & ART GALLERY PURPOSE: GENERAL SUPPORT | $4,657 |
LOMA LINDA UNIVERSITY HEALTH PURPOSE: GENERAL SUPPORT | $75,000 |
MONTEREY BAY AQUARIUM PURPOSE: GENERAL SUPPORT | $50,000 |
DANCE CONSERVANCY OF PASADENA SCHOOL PURPOSE: GENERAL SUPPORT | $25,000 |
TRILLIUM FAMILY SERVICES PURPOSE: GENERAL SUPPORT | $15,000 |