Fu Associates Ltd Veba Trust: FY2020 Nonprofit Profile & Form 990 (EIN 54-6299821)

Revenue by fiscal year
FY2020	$401K
FY2021	$401K
FY2022	$300K

Expenses by fiscal year
FY2020	$534K
FY2021	$450K
FY2022	$336K

Net assets by fiscal year
FY2020	$206K
FY2021	$157K
FY2022	$121K

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $534K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Edward Y Fu

Trustee

$0Pt VII · Sec A

See Fu Associates Ltd Veba Trust 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

Provides healthcare and benefits to employees of FU Associates, Ltd.

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Provided by the organization

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1 program · $534K · in their own filed words · FY2019

01

The trust provides healthcare, life insurance, accident disability and other employee benefits. Only employees and their participating dependents of the company who are eligible to participate in the plan may receive benefits from the trust.

$534Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$401K

Ln 12

Fees for servicesLn 2g$400K

Investment incomeLn 3$1K

Money outPt IX

$534K

Ln 25

Programscol B$534K

Owns and owesPt X

$206K

net assets · Ln 32

Cash and savingsLn 1–2$206K

Total assetsLn 16$206K

LiabilitiesLn 26$0

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$400K

Investment incomeLn 3$1K

Total revenueLn 12$401K

Assets in detailPt X, end of year

CashLn 1$402

SavingsLn 2$205K

Cash and savings togetherLn 1–2$206K

Total assetsLn 16$206K

LiabilitiesLn 26$0

Net assetsLn 32$206K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderMarch

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$338K	$206K
Total assetsLn 16	$338K	$206K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$338K	$206K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$534K	$534K
Office expensesLn 13	$227	$227
Total functional expensesLn 25	$534K	$534K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2022 Latest	$300K	$336K	−$35K	$121K	990 PDF
FY2021	$401K	$450K	−$49K	$157K	990 PDF
FY2020 Viewing	$401K	$534K	−$133K	$206K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $401,426 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $316,956$400,000

I-10 Investment incomePrior year $2,967$1,426

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $319,923$401,426

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $617,530$534,140

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $10$227

I-18 Total expensesPrior year $617,540$534,367

I-19 Revenue less expensesPrior year −$297,617−$132,941

Part VI · Governance 0 of 1 board members independent, 4 to look at

VI-1a Voting members of the governing body1

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 $401,426 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $400,000$400,000

VIII-3 Investment incomeUnrelated business $1,426$1,426

VIII-12 Total revenueRelated to mission $400,000 · Unrelated business $1,426 · Excluded from tax $0$401,426

Part IX · Statement of functional expenses $534,367 across 2 lines filed

IX-4 Benefits paid to or for membersPrograms $534,140$534,140

IX-13 Office expensesPrograms $227$227

IX-25 Total functional expensesPrograms $534,367 · Management $0 · Fundraising $0$534,367

Part X · Balance sheet $205,536 assets, 6 lines filed

X-1 Cash, non-interest-bearingStart of year $402$402

X-2 Savings and temporary cash investmentsStart of year $338,075$205,134

X-16 Total assetsStart of year $338,477$205,536

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $338,477$205,536

X-33 Total liabilities and net assetsStart of year $338,477$205,536

Part XI · Reconciliation of net assets $205,536 net assets at year end

XI-1 Total revenue$401,426

XI-2 Total expenses$534,367

XI-3 Revenue less expenses−$132,941

XI-4 Net assets at start of year$338,477

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$205,536

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Fu Associates Ltd Veba Trust FY2020 filing

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