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Us-China IP Exchange & Development Foundation INC

Tax-deductible

Princeton, NJ501(c)(3)Mutual/MembershipEIN 46-5041771Revenue $15K in FY2024

On file with the IRSucipf.org1015 Mercer Rd, 08540-4816 · Princeton, NJTax-exempt since May 2021Publicly supported — 509(a)(2)

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Us-China IP leaders to Exchange visions a challenges a plaftfrom for IP leaders to Exchange Development a force to impact IP and to be responsible assets a forum to serve IP owners.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
1 of 3
filings with a surplus
Average deficit $4K a year · 17% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$178K
×134 of total assets
Concern: liabilities are 13400% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15K
-64% vs prior year
Spent
$16K
To programs
100%
Net assets
−$177K
By yearFY2022–FY2024
Revenue
$15K
FY2024▼ -64%
Tap a bar for its year
Revenue by fiscal year
FY2022$13K
FY2023$42K
FY2024$15K
Expenses
$16K
FY2024▼ -39%
Tap a bar for its year
Expenses by fiscal year
FY2022$39K
FY2023$26K
FY2024$16K
Net assets
−$177K
FY2024▼ -0.5%
Tap a bar for its year
Net assets by fiscal year
FY2022−$192K
FY2023−$176K
FY2024−$177K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Exemption reinstated (2016-08-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in May 2021.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $16K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Wei Wang
President
$0Pt VII · Sec A
See Us-China IP Exchange & Development 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

Connects IP leaders to share ideas, address challenges, and promote responsible intellectual property development.

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Provided by the organization

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1 program · $16K · in their own filed words · FY2024
01

Us-china ip leaders to exchange visions a challenges a plaftfrom for ip leaders to exchange development a force to impact ip and to be responsible assets a forum to serve ip owners.

$16Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$15K
Ln 12
Gifts and grantsLn 1h$15K
Money outPt IX
$16K
Ln 25
Programscol B$16K
Owns and owesPt X
−$177K
net assets · Ln 32
Cash and savingsLn 1–2$1K
Total assetsLn 16$1K
LiabilitiesLn 26$178K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$15K
Total revenueLn 12$15K
Assets in detailPt X, end of year
CashLn 1$1K
Cash and savings togetherLn 1–2$1K
Total assetsLn 16$1K
LiabilitiesLn 26$178K
Net assetsLn 32−$177K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$7K$1K
Total assetsLn 16$7K$1K
LiabilitiesLn 26$184K$178K
Net assetsLn 32−$176K−$177K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
TravelLn 17$3K$3K
Conferences, conventions and meetingsLn 19$4K$4K
Other expenses (24a–d)Ln 24$8K$8K
All other expensesLn 24e$31$31
Total functional expensesLn 25$16K$16K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $15K$16K−$917−$177K 990 PDF
FY2023 $42K$26K$15K−$176K 990 PDF
FY2022 $13K$39K−$26K−$192K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $14,979 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $41,500$14,979
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $41,500$14,979
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $26,074$15,896
I-18 Total expensesPrior year $26,074$15,896
I-19 Revenue less expensesPrior year $15,426−$917
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $14,979 across 3 lines filed
VIII-1a Federated campaigns$14,979
VIII-1h Total contributions, gifts and grants$14,979
VIII-12 Total revenue$14,979
Part IX · Statement of functional expenses $15,896 across 5 lines filed
IX-11c Accounting feesPrograms $1,100$1,100
IX-17 TravelPrograms $3,250$3,250
IX-19 Conferences, conventions and meetingsPrograms $3,600$3,600
IX-24 Other expenses (24a–d)Programs $7,915$7,915
IX-24e All other expensesPrograms $31$31
IX-25 Total functional expensesPrograms $15,896 · Management $0 · Fundraising $0$15,896
Part X · Balance sheet $1,339 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $7,431$1,339
X-16 Total assetsStart of year $7,431$1,339
X-24 Unsecured notes and loans payableStart of year $2,680$2,480
X-25 Other liabilitiesStart of year $180,887$175,912
X-26 Total liabilitiesStart of year $183,567$178,392
X-32 Total net assets or fund balancesStart of year −$176,136−$177,053
X-33 Total liabilities and net assetsStart of year $7,431$1,339
Part XI · Reconciliation of net assets −$177,053 net assets at year end
XI-1 Total revenue$14,979
XI-2 Total expenses$15,896
XI-3 Revenue less expenses−$917
XI-4 Net assets at start of year−$176,136
XI-10 Net assets at end of year−$177,053

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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