LAYGEND FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
LAYGEND FOUNDATION (EIN 87-2737376)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-09-16
IRS object ID
202442609349100319
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 ReturnHeader

FieldValueIRS element (for citing)
Return2024-09-16T14:38:44-07:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MINTSEN CHEN CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line16540 LUSK BLVD C220AddressLine1Txt
CitySAN DIEGOCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92121ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN872737376EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LAYGEND FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlLAYGBusinessNameControlTxt
Phone8582311448PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 676328AddressLine1Txt
CityRANCHO SANTA FECityNm
State AbbreviationCAStateAbbreviationCd
ZIP92067ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJENG-GUANG LAYPersonNm
Person TitlePresident & CEOPersonTitleTxt
Signature2024-09-16SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMintsen ChenPreparerPersonNm
PTINP00227647PTIN
Phone8584013066PhoneNum
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-08-08 14:25:15ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$0FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$5,000ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$303,963InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$303,963InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$303,963InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$365,267DividendsRevAndExpnssAmt
Dividends Net Invst Incm$365,267DividendsNetInvstIncmAmt
Dividends Adj Net Incm$365,267DividendsAdjNetIncmAmt
Total Rev And Expnss$674,230TotalRevAndExpnssAmt
Total Net Invst Incm$669,230TotalNetInvstIncmAmt
Total Adj Net Incm$669,230TotalAdjNetIncmAmt
Legal Fees Rev And Expnss$25,988LegalFeesRevAndExpnssAmt
Legal Fees Dsbrs Chrtbl$25,988LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$5,700AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$5,700AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$9,000TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$9,000TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$25OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$25OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$40,713TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$40,713TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$7,500,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$7,500,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$7,540,713TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$7,540,713TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$6,866,483ExcessRevenueOverExpensesAmt
Net Investment Income$669,230NetInvestmentIncomeAmt
Adjusted Net Income$669,230AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$9,000CashBOYAmt
Cash EOY$3,582CashEOYAmt
Sav And Temp Cash Invst BOY$9,125,460SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$2,243,438SavAndTempCashInvstEOYAmt
Other Investments BOY$162,132,320OtherInvestmentsBOYAmt
Other Investments EOY$126,391,983OtherInvestmentsEOYAmt
Other Assets BOY$7,771OtherAssetsBOYAmt
Total Assets BOY$171,274,551TotalAssetsBOYAmt
Total Assets EOY$128,639,003TotalAssetsEOYAmt
Total Assets EOYFMV$0TotalAssetsEOYFMVAmt
Accounts Payable BOY$27,498AccountsPayableBOYAmt
Accounts Payable EOY$570AccountsPayableEOYAmt
Other Liabilities BOY$1,800OtherLiabilitiesBOYAmt
Total Liabilities BOY$29,298TotalLiabilitiesBOYAmt
Total Liabilities EOY$570TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$171,245,253NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$128,638,433NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$171,245,253TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$128,638,433TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$171,274,551TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$128,639,003TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$171,245,253TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$6,866,483ExcessRevenueOverExpensesAmt
Subtotal$164,378,770SubtotalAmt
Other Decreases$35,740,337OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$128,638,433TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$9,302InvestmentIncomeExciseTaxAmt
Subtotal$9,302SubtotalAmt
Tax Based On Investment Income$9,302TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$12,061EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$12,061TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$2,759OverpaymentAmt
Applied To ES Tax$2,759AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedfalseSection508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateCAOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1MINTSEN CHENBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8584013066PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 7262AddressLine1Txt
CityRANCHO SANTA FECityNm
State AbbreviationCAStateAbbreviationCd
ZIP92067ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
JENG-GUANG LAY
PO BOX 676328RANCHO SANTA FECA92067President & CEO3.00$0
NAN JIANG
PO BOX 9923RANCHO SANTA FECA92067Secretary0.25$0
MINTSEN CHEN
PO BOX 7262RANCHO SANTA FECA92067Treasurer3.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1In 2022, Laygend Foundation established an endowment fund with UC San Diego Bioengineering Department in supporting and empowering UC San Diego bioengineering department to build on its well-recognized strengths in teaching, research and biotechnology workforce development in the future years and in honoring Shu Chien, a UC San Diego emeritus professor of bioengineering and medicine who is a renowned bioengineering researcher, educator and mentor. The first grant of $2.5 million was gifted in 2022.Description1Txt
Expenses1$0Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$134,098,529AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$4,784,188AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$138,882,717TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$138,882,717AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$2,083,241CashDeemedCharitableAmt
Net Vl Noncharitable Assets$136,799,476NetVlNoncharitableAssetsAmt
Minimum Investment Return$6,839,974MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$6,839,974MinimumInvestmentReturnAmt
Tax Based On Investment Income$9,302TaxBasedOnInvestmentIncomeAmt
Total Tax$9,302TotalTaxAmt
Distributable Before Adj$6,830,672DistributableBeforeAdjAmt
Distributable Before Ded$6,830,672DistributableBeforeDedAmt
Distributable As Adjusted$6,830,672DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$7,540,713ExpensesAndContributionsAmt
Qualifying Distributions$7,540,713QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$6,830,672DistributableAsAdjustedAmt
Undistributed Income PY$6,792,954UndistributedIncomePYAmt
Qualifying Distributions$7,540,713QualifyingDistributionsAmt
Applied To Year1$6,792,954AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$747,759AppliedToCurrentYearAmt
Undistributed Income CY$6,082,913UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Regents of University of California
9500 Gilman Drive 0940La JollaCA92093Non-relatedPCPostsecondary Education:The endowment will build on the UCSD's Department of Bioengineering excellence by providing transformative annual recurring support for research and education. Collectively, this funding will be critical for the department's efforts to bridge gaps between bioengineering research and clinical impacts that directly improve human health.$2,500,000
Havard Brigham and Woman Hospital
75 Francis StBostonMA02115Non-relatedEOFLaygend Foundation established Gene Lay Institute of Immunology and Inflammation in May 2023 and pledged an endowment fund in supporting and empowering multi-institution team and collective efforts of Brigham & Woman Hospital, Massachusetts General Hospital and Harvard Medical School for research activities in the areas of immunology and Inflammation and translate research discovery into therapies and bring solutions to patients and families. The primary areas of research will include basic understanding of immune-mediated diseases, aging, and cancer and translation of this knowledge to the development of new immunotherapies and build new knowledge to promote basic understanding for preventing and treating immune-mediated diseases. In addition, the Gene Lay Institute will provide substantial training opportunities for students and fellows to support immunology innovators of the future.$5,000,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$7,500,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$303,963RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$365,267RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$669,230RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$669,230TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryAccounting FeesCategoryTxt
Amt$5,700Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$5,700DisbursementsCharitablePrpsAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLegal FeesCategoryTxt
Legal Fees$25,988LegalFeesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$25,988DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescCA Government Filing FeeDesc
Revenue And Expenses Per Books$25RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$25DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFederal Excise TaxCategoryTxt
Amt$9,000Amt
Disbursements Charitable Prps$9,000DisbursementsCharitablePrpsAmt

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