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Caipa Foundation INC FY2023 filing

Tax-deductible

New York, NY501(c)(3)Foundations & Grantmakers EIN 26-2791755Revenue $2.3M in FY2023

On file with the IRScaipafoundation.org41 Elizabeth St Ste 403, 10013-4637 · New York, NYTax-exempt since Sep 2008Publicly supported charity — 170(b)(1)(A)(vi)

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Promote the health of chinese americans.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $711K a year · 33% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
25 mo
of spending, in cash
Plus $2.8M in investments, Pt X · Ln 11–13
Looks good: 25.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $265K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$144K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.3M
+32% vs prior year
Spent
$1.0M
To programs
63%
Net assets
$4.9M
By yearFY2020–FY2024
Revenue
$2.3M
FY2023▲ +32%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$2.5M
FY2022$1.8M
FY2023$2.3M
FY2024$2.5M
Expenses
$1.0M
FY2023▼ -32%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.0M
FY2021$1.6M
FY2022$1.5M
FY2023$1.0M
FY2024$1.1M
Net assets
$4.9M
FY2023▲ +35%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.7M
FY2021$3.5M
FY2022$3.6M
FY2023$4.9M
FY2024$6.2M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $644K Management & general 18% · $186K Fundraising 19% · $190K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Sun-Hoo Foo
Chair/Pres./Dir./CEO
$0Pt VII · Sec A
Jonathan Chang
Director and VP
$0Pt VII · Sec A
Felix Chu
Dir./Secr./Treas.
$0Pt VII · Sec A
Alice Lau
Director
$0Pt VII · Sec A
George Liu
Director
$0Pt VII · Sec A
Susan Lau
Executive Director (outgoing)
$0Pt VII · Sec A
Peggy Sheng
Executive Director
$0Pt VII · Sec A
See Caipa Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Improves health outcomes for Chinese Americans through community programs and education.

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Provided by the organization

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1 program · $644K · in their own filed words · FY2023
01

Provide the highest quality services to seniors in the asian-american communities through social day care centers. Make sure that seniors receive culturally sensitive care and services that would offer them a secured, peaceful and better quality of life.

$644Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Healthfirst Foundation INCFY2024$150K
Asian American Coalition for Children and Families INCFY2024$73K
Ching Sun Charitable Foundation INCFY2024$20K
Maimonides Medical Center-FY2024$12K
The New York and Presbyterian HospitalFY2024$10K
Total grants receivedfrom 5 funders$265K
See all 5 funders →
Grants paid · 4 grants · $124K · 2020–2022
Buddhist Tzu Chi FoundationCA · FY2022$27,308
Buddhist Tzu Chi FoundationCA · FY2021$22,964
Buddhist Tzu Chi FoundationCA · FY2020$68,456
Myanmar American Medical Education Society INCNY · FY2020$5,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.3M
Ln 12
Gifts and grantsLn 1h$1.7M
Investment incomeLn 3$423K
Fees for servicesLn 2g$188K
Money outPt IX
$1.0M
Ln 25
Programscol B$644K
Managementcol C$186K
Fundraisingcol D$190K
Owns and owesPt X
$4.9M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$5.0M
LiabilitiesLn 26$144K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Government grantsLn 1e$36K
Fundraising eventsLn 1c$362K
Fees for servicesLn 2g$188K
Investment incomeLn 3$423K
Gains on assetsLn 7$288K
Total revenueLn 12$2.3M
Assets in detailPt X, end of year
CashLn 1$2.2M
Cash and savings togetherLn 1–2$2.2M
InvestmentsLn 11–13$2.8M
Other assetsLn 15$0
Total assetsLn 16$5.0M
LiabilitiesLn 26$144K
Net assetsLn 32$4.9M
OperationsPt I, VI
EmployeesI 517
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$631K$2.2M
InvestmentsLn 11–13$2.6M$2.8M
Total assetsLn 16$3.7M$5.0M
LiabilitiesLn 26$125K$144K
Net assetsLn 32$3.6M$4.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$262K$262K
Payroll taxesLn 10$27K$27K
Management feesLn 11a$120K$120K
Accounting feesLn 11c$24K$24K
Other fees for servicesLn 11g$7K$7K
Office expensesLn 13$16K$8K$7K
OccupancyLn 16$193K$193K
TravelLn 17$26K$26K
Depreciation, depletion and amortizationLn 22$3K$3K$166
InsuranceLn 23$68K$34K$34K
Other expenses (24a–d)Ln 24$271K$80K$190K
All other expensesLn 24e$3K$3K$307
Total functional expensesLn 25$1.0M$644K$186K$190K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.5M$1.1M$1.4M$6.2M 990 PDF
FY2023 Viewing $2.3M$1.0M$1.3M$4.9M 990 PDF
FY2022 $1.8M$1.5M$285K$3.6M 990 PDF
FY2021 $2.5M$1.6M$855K$3.5M 990 PDF
FY2020 $1.7M$2.0M−$326K$2.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,348,032 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,448,377$1,744,317
I-9 Program service revenuePrior year $297,790$187,619
I-10 Investment incomePrior year −$4,351$423,060
I-11 Other revenuePrior year $32,542−$6,964
I-12 Total revenuePrior year $1,774,358$2,348,032
I-13 Grants and similar amounts paidPrior year $27,308$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $520,063$288,410
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $941,931$731,494
I-18 Total expensesPrior year $1,489,302$1,019,904
I-19 Revenue less expensesPrior year $285,056$1,328,128
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,348,032 across 9 lines filed
VIII-1c Fundraising events$361,950
VIII-1e Government grants$35,556
VIII-1f All other contributions, gifts and grants$1,346,811
VIII-1h Total contributions, gifts and grants$1,744,317
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $187,619$187,619
VIII-3 Investment incomeExcluded from tax $135,279$135,279
VIII-7 Net gain or loss on sales of assetsRelated to mission $150,000 · Excluded from tax $137,781$287,781
VIII-8 Net income from fundraising eventsExcluded from tax −$6,964−$6,964
VIII-12 Total revenueRelated to mission $337,619 · Unrelated business $0 · Excluded from tax $266,096$2,348,032
Part IX · Statement of functional expenses $1,019,904 across 12 lines filed
IX-7 Other salaries and wagesPrograms $261,625$261,625
IX-10 Payroll taxesPrograms $26,785$26,785
IX-11a Management feesManagement $120,000$120,000
IX-11c Accounting feesManagement $24,000$24,000
IX-11g Other fees for servicesPrograms $7,200$7,200
IX-13 Office expensesPrograms $8,452 · Management $7,116$15,568
IX-16 OccupancyPrograms $193,427$193,427
IX-17 TravelPrograms $26,255$26,255
IX-22 Depreciation, depletion and amortizationPrograms $3,164 · Management $166$3,330
IX-23 InsurancePrograms $34,059 · Management $34,059$68,118
IX-24 Other expenses (24a–d)Programs $80,489 · Fundraising $190,063$270,552
IX-24e All other expensesPrograms $2,737 · Management $307$3,044
IX-25 Total functional expensesPrograms $644,193 · Management $185,648 · Fundraising $190,063$1,019,904
Part X · Balance sheet $4,997,221 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $630,776$2,151,514
X-9 Prepaid expenses and deferred chargesStart of year $70,652$44,089
X-11 Publicly traded securitiesStart of year $2,614,681$2,801,618
X-15 Other assetsStart of year $281,562$0
X-16 Total assetsStart of year $3,724,161$4,997,221
X-17 Accounts payable and accrued expensesStart of year $20,059$1,547
X-25 Other liabilitiesStart of year $105,200$142,488
X-26 Total liabilitiesStart of year $125,259$144,035
X-32 Total net assets or fund balancesStart of year $3,598,902$4,853,186
X-33 Total liabilities and net assetsStart of year $3,724,161$4,997,221
Part XI · Reconciliation of net assets $4,853,186 net assets at year end
XI-1 Total revenue$2,348,032
XI-2 Total expenses$1,019,904
XI-3 Revenue less expenses$1,328,128
XI-4 Net assets at start of year$3,598,902
XI-5 Net unrealized gains (losses) on investments−$73,844
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,853,186

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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