HUNG & LEE FAMILY FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: HUNG & LEE FAMILY FOUNDATION (EIN 45-5329133)
Tax period: 2023-05-01 to 2024-04-30
Filed: 2024-09-16
IRS object ID: 202422609349100912
Schema version: 2023v5.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Investments Corp Stock Schedule
Land Etc Schedule2
Other Expenses Schedule
Other Liabilities Schedule
Substantial Contributors Sch
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-09-16T11:14:31-07:00	ReturnTs
Tax Period End	2024-04-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	263000418	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	ABEST TAX SERVICES INC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1621A S MAIN ST	AddressLine1Txt
City	MILPITAS	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	95035	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2023-05-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	455329133	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	HUNG & LEE FAMILY FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	HUNG	BusinessNameControlTxt
Phone	3155674666	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	650 CASTRO ST SUITE 120-377	AddressLine1Txt
City	MOUNTAIN VIEW	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	94041	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	SIMON HUNG	PersonNm
Person Title	Secretary	PersonTitleTxt
Signature	2024-09-16	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (true)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	SHUANG MAO	PreparerPersonNm
PTIN	P00660082	PTIN
Phone	4083929977	PhoneNum

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2024-08-08 14:25:15Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$515,934	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$1,000	ContriRcvdRevAndExpnssAmt
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Dividends Rev And Expnss	$609	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$609	DividendsNetInvstIncmAmt
Dividends Adj Net Incm	$609	DividendsAdjNetIncmAmt
Total Rev And Expnss	$1,609	TotalRevAndExpnssAmt
Total Net Invst Incm	$609	TotalNetInvstIncmAmt
Total Adj Net Incm	$609	TotalAdjNetIncmAmt
Taxes Rev And Expnss	$8	TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl	$8	TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss	$16,929	OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl	$16,929	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$16,937	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$16,937	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$20,350	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$20,350	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$37,287	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$37,287	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$35,678	ExcessRevenueOverExpensesAmt
Net Investment Income	$609	NetInvestmentIncomeAmt
Adjusted Net Income	$609	AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$37,010	CashBOYAmt
Cash EOY	$12,399	CashEOYAmt
Cash EOYFMV	$12,399	CashEOYFMVAmt
Corporate Stock BOY	$43,793	CorporateStockBOYAmt
Corporate Stock EOY	$43,793	CorporateStockEOYAmt
Corporate Stock EOYFMV	$503,535	CorporateStockEOYFMVAmt
Land Bldg Equip Cost Or Other Bss	$3,819	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$3,819	LandBldgEquipAccumDeprecAmt
Total Assets BOY	$80,803	TotalAssetsBOYAmt
Total Assets EOY	$56,192	TotalAssetsEOYAmt
Total Assets EOYFMV	$515,934	TotalAssetsEOYFMVAmt
Other Liabilities EOY	$11,067	OtherLiabilitiesEOYAmt
Total Liabilities EOY	$11,067	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Retained Earning BOY	$80,803	RetainedEarningBOYAmt
Retained Earning EOY	$45,125	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$80,803	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$45,125	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$80,803	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$56,192	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$80,803	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$35,678	ExcessRevenueOverExpensesAmt
Subtotal	$45,125	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$45,125	TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$8	InvestmentIncomeExciseTaxAmt
Subtotal	$8	SubtotalAmt
Tax Based On Investment Income	$8	TaxBasedOnInvestmentIncomeAmt
Tax Due	$8	TaxDueAmt
Applied To ES Tax	$0	AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	CA	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	Yes (true)	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	SIMON HUNG	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	3155674666	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	650 CASTRO ST SUITE 120-377	AddressLine1Txt
City	MOUNTAIN VIEW	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	94041	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Acts Fail To Qlfy As Exceptions	false	ActsFailToQlfyAsExceptionsInd
Uncorrected Prior Acts	false	UncorrectedPriorActsInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt
SIMON HUNG
650 CASTRO ST SUITE 120-377	MOUNTAIN VIEW	CA	94041	Secretary	1.00	$0
WEI-FANG HUNG
650 CASTRO ST SUITE 120-377	MOUNTAIN VIEW	CA	94041	President & CEO	1.00	$0
OLIVIA LEE
650 CASTRO ST SUITE 120-377	MOUNTAIN VIEW	CA	94041	CFO	1.00	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$574,299	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$31,668	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$605,967	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast	$605,967	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$9,090	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$596,877	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$29,844	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$29,844	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$8	TaxBasedOnInvestmentIncomeAmt
Total Tax	$8	TotalTaxAmt
Distributable Before Adj	$29,836	DistributableBeforeAdjAmt
Distributable Before Ded	$29,836	DistributableBeforeDedAmt
Distributable As Adjusted	$29,836	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$37,287	ExpensesAndContributionsAmt
Qualifying Distributions	$37,287	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$29,836	DistributableAsAdjustedAmt
Undistributed Income PY	$29,604	UndistributedIncomePYAmt
Qualifying Distributions	$37,287	QualifyingDistributionsAmt
Applied To Year1	$29,604	AppliedToYear1Amt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$7,683	AppliedToCurrentYearAmt
Undistributed Income CY	$22,153	UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	SIMON HUNG	ContributingManagerNm
Contributing Manager	OLIVIA LEE	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
Valley Health Foundation
2400 Clove Dr	San Jose	CA	95128	Donation	PC	To support, innovate, and advocate better health for all in Santa Clara County	$350
Mizutomo Kiko Foundation
650 Castro St Ste 120-377	Mountain View	CA	94041	Donation	PF	To support advancement of education and science; provide financial relief to the poor, the distressed and underprivileged;support universities, schools, libraries, churches, temples and other places of general public benefit.	$20,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$20,350	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$609	RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$609	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$609	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

Field	Value	IRS element (for citing)
Stock	CHARLES SCHWAB ACC#9048	StockNm
EOY Book Value	$43,793	EOYBookValueAmt
EOYFMV	$503,535	EOYFMVAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

Field	Value	IRS element (for citing)
Category Or Item	Machinery and Equipment	CategoryOrItemTxt
Cost Or Other Basis	$3,819	CostOrOtherBasisAmt
Accumulated Depreciation	$3,819	AccumulatedDepreciationAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Bank Service Charge	$16	$16
Filing Fee	$50	$50
Travel and Meetings	$16,863	$16,863

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

Field	Value	IRS element (for citing)
Desc	Credit Cards	Desc
EOY Book Value	$11,067	EOYBookValueAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

Field	Value	IRS element (for citing)
Person	SIMON HUNG OLIVIA LEE	PersonNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	650 CASTRO ST SUITE 120-377	AddressLine1Txt
City	MOUNTAIN VIEW	CityNm
State Abbreviation	CA	StateAbbreviationCd
ZIP	94041	ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	Income Tax	CategoryTxt
Amt	$8	Amt
Disbursements Charitable Prps	$8	DisbursementsCharitablePrpsAmt

HUNG & LEE FAMILY FOUNDATION: Form 990PF, tax year 2023

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Preparer Person PreparerPersonGrp

Form 990-PF IRS990PF

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Statements Regarding Acty StatementsRegardingActyGrp

Persons With Books Name PersonsWithBooksName

Location Of Books US Address LocationOfBooksUSAddress

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Minimum Investment Return MinimumInvestmentReturnGrp

Distributable Amount DistributableAmountGrp

PF Qualifying Distributions PFQualifyingDistributionsGrp

Undistributed Income UndistributedIncomeGrp

Supplementary Information SupplementaryInformationGrp

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

US Address USAddress

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

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