Tlbu Foundation INC FY2024 filing

Tax-deductible

Pleasantville, NJ501(c)(3)Since 2000Colleges & UniversitiesEIN 52-2242995Revenue $161K in FY2024

On file with the IRS8029 Black Horse Pike, 08232-2804 · Pleasantville, NJTax-exempt since Apr 2001School — 170(b)(1)(A)(ii)

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Provide direct/indirect scholarship for educating Asian students on U.S. Laws, as well as offering them with opportunities to promote active cultural, academic and societal interchange with American students.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$12K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

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
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 7
filings with a surplus
Average deficit $175K a year · 82% of revenue · last 7 filings
Concern: a surplus in 3 of the last 7 filings.
Pt I · Ln 19 · 7 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$12K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
45 mo
of spending, in cash
Looks good: 44.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $16
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$324K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$161K
+24% vs prior year
Spent
$485K
To programs
91%
Net assets
$3.0M
By yearFY2020–FY2026
Revenue
$161K
FY2024▲ +24%
Tap a bar for its year
Revenue by fiscal year
FY2020$505K
FY2021$352K
FY2022$273K
FY2023$131K
FY2024$161K
FY2025$18K
FY2026$45K
Expenses
$485K
FY2024▲ +197%
Tap a bar for its year
Expenses by fiscal year
FY2020$369K
FY2021$187K
FY2022$159K
FY2023$163K
FY2024$485K
FY2025$1.1M
FY2026$206K
Net assets
$3.0M
FY2024▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.1M
FY2021$3.3M
FY2022$3.4M
FY2023$3.4M
FY2024$3.0M
FY2025$1.9M
FY2026$1.8M

From the FY2024 Form 990 (year ending February 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Apr 2001.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $443K Management & general 9% · $41K

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

3 people listed on the 990; $12K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Secretary/Treasurer
$12,000Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Ya Wang’s $18K as Secretary/Treasurer is at the 55th percentile of top reported officer pay among 146 <$100K education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2026FY2025FY2024FY2023FY2022FY2021
Ya Wang$18,000$30,000$12,000$11,900$9,400$9,900
Monirith Tola$13,200$13,200————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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
  • Loans to or from officersSch L · Pt II3 listed

Programs and updates

Fund scholarships for Asian students studying U.S. law and foster cultural exchange.

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Provided by the organization

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1 program · $443K · in their own filed words · FY2023
01

TLBU Foundation supported 16 students with law school tuition expenses and boarding expenses in the United States.

$443Kprogram 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 · FY2023
Total grants receivedfrom 1 funder$16
Grants paid · 4 grants · $412K · 2019–2023
Unitemized GrantFY2023$382,608
Unitemized GrantFY2021$9,740
Unitemized GrantFY2020$3,236
Unitemized GrantFY2019$16,630

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$161K
Ln 12
Investment incomeLn 3$462K
Gifts and grantsLn 1h$20K
Fees for servicesLn 2g$10K
Money outPt IX
$485K
Ln 25
Programscol B$443K
Managementcol C$41K
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$3.4M
LiabilitiesLn 26$324K
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$20K
Fees for servicesLn 2g$10K
Investment incomeLn 3$462K
Gains on assetsLn 7$387K
Total revenueLn 12$161K
Assets in detailPt X, end of year
CashLn 1$29K
SavingsLn 2$1.8M
Cash and savings togetherLn 1–2$1.8M
Land, buildings, equipmentLn 10c$709K
Total assetsLn 16$3.4M
LiabilitiesLn 26$324K
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
Fiscal year endsHeaderFebruary
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$35K$1.8M
Land, buildings, equipmentLn 10c$3.5M$709K
Total assetsLn 16$4.4M$3.4M
LiabilitiesLn 26$1.1M$324K
Net assetsLn 32$3.4M$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$383K$383K
Pay of current officers, directors and key staffLn 5$12K$12K
Other salaries and wagesLn 7$22K$18K$5K
Payroll taxesLn 10$3K$2K$1K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$11K$367$10K
Office expensesLn 13$204$204
OccupancyLn 16$13K$13K
InterestLn 20$3K$569$2K
Depreciation, depletion and amortizationLn 22$18K$18K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$7K$6K$768
Total functional expensesLn 25$485K$443K$41K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $45K$206K−$161K$1.8M 990 PDF
FY2025 $18K$1.1M−$1.1M$1.9M 990 PDF
FY2024 Viewing $161K$485K−$323K$3.0M 990 PDF
FY2023 $131K$163K−$33K$3.4M 990 PDF
FY2022 $273K$159K$114K$3.4M 990 PDF
FY2021 $352K$187K$165K$3.3M 990 PDF
FY2020 $505K$369K$136K$3.1M 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 $161,470 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $71,317$19,856
I-9 Program service revenuePrior year $136,357$10,000
I-10 Investment incomePrior year $52,437$462,327
I-11 Other revenuePrior year −$129,543−$330,713
I-12 Total revenuePrior year $130,568$161,470
I-13 Grants and similar amounts paidPrior year $75,352$382,608
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $37,263$37,312
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $50,467$64,599
I-18 Total expensesPrior year $163,082$484,519
I-19 Revenue less expensesPrior year −$32,514−$323,049
Part VI · Governance 2 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
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 $161,470 across 7 lines filed
VIII-1f All other contributions, gifts and grants$19,856
VIII-1h Total contributions, gifts and grants$19,856
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,000$10,000
VIII-3 Investment incomeExcluded from tax $75,777$75,777
VIII-6 Net rental income or lossExcluded from tax −$330,713−$330,713
VIII-7 Net gain or loss on sales of assetsExcluded from tax $386,550$386,550
VIII-12 Total revenueRelated to mission $10,000 · Unrelated business $0 · Excluded from tax $131,614$161,470
Part IX · Statement of functional expenses $484,519 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $382,608$382,608
IX-5 Pay of current officers, directors and key staffManagement $12,000$12,000
IX-7 Other salaries and wagesPrograms $17,850 · Management $4,520$22,370
IX-10 Payroll taxesPrograms $1,524 · Management $1,418$2,942
IX-11b Legal feesManagement $3,800$3,800
IX-11c Accounting feesManagement $6,150$6,150
IX-11g Other fees for servicesPrograms $367 · Management $10,350$10,717
IX-13 Office expensesManagement $204$204
IX-16 OccupancyPrograms $13,402$13,402
IX-20 InterestPrograms $569 · Management $2,172$2,741
IX-22 Depreciation, depletion and amortizationPrograms $17,968$17,968
IX-23 InsurancePrograms $2,878$2,878
IX-24 Other expenses (24a–d)Programs $5,971 · Management $768$6,739
IX-25 Total functional expensesPrograms $443,137 · Management $41,382 · Fundraising $0$484,519
Part X · Balance sheet $3,364,351 assets, 8 lines filed
Asset lines not itemized here account for $845,159; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $34,781$28,671
X-2 Savings and temporary cash investments$1,781,934
X-10c Land, buildings and equipment, netStart of year $3,461,378$708,587
X-16 Total assetsStart of year $4,438,732$3,364,351
X-26 Total liabilitiesStart of year $1,075,076$323,744
X-27 Net assets without donor restrictionsStart of year $3,363,656$3,040,607
X-32 Total net assets or fund balancesStart of year $3,363,656$3,040,607
X-33 Total liabilities and net assetsStart of year $4,438,732$3,364,351
Part XI · Reconciliation of net assets $3,040,607 net assets at year end
XI-1 Total revenue$161,470
XI-2 Total expenses$484,519
XI-3 Revenue less expenses−$323,049
XI-4 Net assets at start of year$3,363,656
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,040,607

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

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