Ng and Chen Foundation: Nonprofit Profile, Financials & Form 990 (EIN 88-1929064)

Revenue by fiscal year
FY2022	$500K
FY2023	−$1K
FY2024	$133K

Expenses by fiscal year
FY2022	$30K
FY2023	$64K
FY2024	$160K

Net assets by fiscal year
FY2022	$470K
FY2023	$405K
FY2024	$378K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2022.

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

Where the money goes

11 cents of each dollar spent went to programs.

89%

Program services 11% · $18K Management & general 89% · $142K

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

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation

Julie Chen

CEO

$0Pt VII · Sec A

Albert Ng

Secretary

$0Pt VII · Sec A

See Ng and Chen Foundation 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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo
Loans to or from officersSch L · Pt II2 listed

Programs and updates

Supports organizations promoting spirit-mind-body balance through grants and donations, including for mental and physical health.

Provided by the organization

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1 program service account for $18K of program spending, described in the organization's own filed words · FY2024.

01

Dedicated to support organizations focused on balancing spirit-mind-bocy. We donate and award grants to religious organizations that promote health balance including physical and mental health. We also support populations with mental or physical disability.

$18Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking

Grants paid · 5 grants · $83K · 2022–2024

Purple Lotus TempleCA · FY2024$17,125

Purple Lotus TempleCA · FY2023$23,086

Unitemized GrantFY2023$7,500

Unitemized GrantFY2023$5,000

Purple Lotus TempleCA · FY2022$30,000

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$133K

Ln 12

Gifts and grantsLn 1h$100K

Investment incomeLn 3$33K

Money outPt IX

$160K

Ln 25

Programscol B$18K

Managementcol C$142K

Owns and owesPt X

$378K

net assets · Ln 32

Cash and savingsLn 1–2$50K

Total assetsLn 16$378K

LiabilitiesLn 26$0

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$100K

Investment incomeLn 3$33K

Gains on assetsLn 7$21K

Total revenueLn 12$133K

Assets in detailPt X, end of year

CashLn 1$50K

Cash and savings togetherLn 1–2$50K

InvestmentsLn 11–13$301K

Other assetsLn 15$0

Total assetsLn 16$378K

LiabilitiesLn 26$0

Net assetsLn 32$378K

OperationsPt I, VI

EmployeesI 50

VolunteersI 610

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$67K	$50K
InvestmentsLn 11–13	$337K	$301K
Total assetsLn 16	$405K	$378K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$405K	$378K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$18K	$18K
Accounting feesLn 11c	$8K		$8K
Investment management feesLn 11f	$4K		$4K
Office expensesLn 13	$95K		$95K
TravelLn 17	$5K		$5K
Other expenses (24a–d)Ln 24	$30K		$30K
All other expensesLn 24e	$105		$105
Total functional expensesLn 25	$160K	$18K	$142K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$133K	$160K	−$27K	$378K	990 PDF
FY2023	−$1K	$64K	−$65K	$405K	990 PDF
FY2022	$500K	$30K	$470K	$470K	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 (4 parts)

Part VIII · Statement of revenue $133,043 across 5 lines filed

VIII-1f All other contributions, gifts and grants$100,000

VIII-1h Total contributions, gifts and grants$100,000

VIII-3 Investment incomeExcluded from tax $12,369$12,369

VIII-7 Net gain or loss on sales of assetsRelated to mission $20,674$20,674

VIII-12 Total revenueRelated to mission $20,674 · Unrelated business $0 · Excluded from tax $12,369$133,043

Part IX · Statement of functional expenses $159,809 across 7 lines filed

IX-1 Grants to domestic organizationsPrograms $18,125$18,125

IX-11c Accounting feesManagement $7,750$7,750

IX-11f Investment management feesManagement $3,844$3,844

IX-13 Office expensesManagement $95,000$95,000

IX-17 TravelManagement $4,913$4,913

IX-24 Other expenses (24a–d)Management $30,072$30,072

IX-24e All other expensesManagement $105$105

IX-25 Total functional expensesPrograms $18,125 · Management $141,684 · Fundraising $0$159,809

Part X · Balance sheet $377,833 assets, 8 lines filed

Asset lines not itemized here account for $26,613; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $67,223$50,094

X-11 Publicly traded securitiesStart of year $336,576$301,126

X-15 Other assetsStart of year $800$0

X-16 Total assetsStart of year $404,599$377,833

X-26 Total liabilitiesStart of year $0$0

X-27 Net assets without donor restrictionsStart of year $404,599$377,833

X-32 Total net assets or fund balancesStart of year $404,599$377,833

X-33 Total liabilities and net assetsStart of year $404,599$377,833

Part XI · Reconciliation of net assets $377,833 net assets at year end

XI-1 Total revenue$133,043

XI-2 Total expenses$159,809

XI-3 Revenue less expenses−$26,766

XI-4 Net assets at start of year$404,599

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$377,833

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

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Ng and Chen Foundation

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