LI & YE FAMILY FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
LI & YE FAMILY FOUNDATION (EIN 87-1849249)
Tax period
2022-07-01 to 2023-06-30
Filed
2023-11-07
IRS object ID
202313119349101886
Schema version
2022v5.0
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)
Return2023-11-07T15:32:33-08:00ReturnTs
Tax Period End2023-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN263000418PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ABEST TAX SERVICES INCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11621A S MAIN STAddressLine1Txt
CityMILPITASCityNm
State AbbreviationCAStateAbbreviationCd
ZIP95035ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN871849249EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LI & YE FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlLI&YBusinessNameControlTxt
Phone6504769354PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14603 BORINA DRAddressLine1Txt
CitySAN JOSECityNm
State AbbreviationCAStateAbbreviationCd
ZIP95129ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonHAOPENG LIPersonNm
Person TitleCEOPersonTitleTxt
Signature2023-11-07SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstHAOPENGPersonFirstNm
Person LastLIPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSHUANG MAOPreparerPersonNm
PTINP00660082PTIN
Phone4083929977PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$146,411FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,000ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$2,976DividendsRevAndExpnssAmt
Dividends Net Invst Incm$2,976DividendsNetInvstIncmAmt
Dividends Adj Net Incm$2,976DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$2,725NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$4,956GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$2,725CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$2,725NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$6,701TotalRevAndExpnssAmt
Total Net Invst Incm$5,701TotalNetInvstIncmAmt
Total Adj Net Incm$5,701TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$2,130AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$2,130AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$30TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$30TaxesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss$347DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$55OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$55OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$2,562TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$2,215TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,562TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$2,215TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$4,139ExcessRevenueOverExpensesAmt
Net Investment Income$5,701NetInvestmentIncomeAmt
Adjusted Net Income$5,701AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$2,114CashBOYAmt
Cash EOY$2,150CashEOYAmt
Cash EOYFMV$2,150CashEOYFMVAmt
Acct Rcvbl$18AcctRcvblAmt
Acct Rcvbl EOY$18AcctRcvblEOYAmt
Acct Rcvbl EOYFMV$18AcctRcvblEOYFMVAmt
Corporate Stock BOY$43,402CorporateStockBOYAmt
Corporate Stock EOY$41,171CorporateStockEOYAmt
Corporate Stock EOYFMV$143,993CorporateStockEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$1,042LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$521LandBldgEquipAccumDeprecAmt
Land BOY$868LandBOYAmt
Land EOY$521LandEOYAmt
Land EOYFMV$250LandEOYFMVAmt
Total Assets BOY$46,384TotalAssetsBOYAmt
Total Assets EOY$43,860TotalAssetsEOYAmt
Total Assets EOYFMV$146,411TotalAssetsEOYFMVAmt
Other Liabilities BOY$6,663OtherLiabilitiesBOYAmt
Total Liabilities BOY$6,663TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$39,721RetainedEarningBOYAmt
Retained Earning EOY$43,860RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$39,721TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$43,860TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$46,384TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$43,860TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$39,721TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$4,139ExcessRevenueOverExpensesAmt
Subtotal$43,860SubtotalAmt
Tot Net Ast Or Fund Balances EOY$43,860TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyCharles Schwab - 0674PropertyDesc
How AcquiredPHowAcquiredCd
Acquired2022-12-01AcquiredDt
Sold2022-12-01SoldDt
Gross Sales Price$4,956GrossSalesPriceAmt
Cost Or Other Basis$2,231CostOrOtherBasisAmt
Gain Or Loss$2,725GainOrLossAmt
Gains Minus Excess Or Losses$2,725GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$2,725CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$2,725NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$79InvestmentIncomeExciseTaxAmt
Subtotal$79SubtotalAmt
Tax Based On Investment Income$79TaxBasedOnInvestmentIncomeAmt
Tax Due$79TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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 SatisfiedYes (true)Section508eRqrSatisfiedInd
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 Line1HAOPENG LIBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6504769354PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14603 BORINA DRAddressLine1Txt
CitySAN JOSECityNm
State AbbreviationCAStateAbbreviationCd
ZIP95129ZIPCd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
HAOPENG LI
4603 BORINA DRSAN JOSECA95129CEO1.00$0
HENG YE
4603 BORINA DRSAN JOSECA95129Secretary1.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$96,909AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,424AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$98,333TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$98,333AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$1,475CashDeemedCharitableAmt
Net Vl Noncharitable Assets$96,858NetVlNoncharitableAssetsAmt
Minimum Investment Return$4,843MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$4,843MinimumInvestmentReturnAmt
Tax Based On Investment Income$79TaxBasedOnInvestmentIncomeAmt
Total Tax$79TotalTaxAmt
Distributable Before Adj$4,764DistributableBeforeAdjAmt
Distributable Before Ded$4,764DistributableBeforeDedAmt
Distributable As Adjusted$4,764DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$2,215ExpensesAndContributionsAmt
Qualifying Distributions$2,215QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$4,764DistributableAsAdjustedAmt
Excess Distribution Cyov Yr1$4,947ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$4,947TotalExcessDistributionCyovAmt
Qualifying Distributions$2,215QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$2,215AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$2,549ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$2,549ExcessDistributionCyovAppCYAmt
Total Corpus$2,398TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$2,398ExcessDistriCyovToNextYrAmt
Excess From Year1$2,398ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerHAOPENG LIContributingManagerNm
Contributing ManagerHENG YEContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,976RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,725RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$5,701RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$5,701TotalIncomeProducingActyAmt

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$2,130Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$2,130DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp

FieldValueIRS element (for citing)
PropertyCOMPUTERPropertyDesc
Acquired2021-07-21AcquiredDt
Cost Or Other Basis$1,042CostOrOtherBasisAmt
Prior Year Depreciation$174PriorYearDepreciationAmt
Computation MethodSLComputationMethodTxt
Rt0.3333Rt
Current Year Expense$347CurrentYearExpenseAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockCharles Schwab - 0674StockNm
EOY Book Value$41,171EOYBookValueAmt
EOYFMV$143,993EOYFMVAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or ItemMachinery and EquipmentCategoryOrItemTxt
Cost Or Other Basis$1,042CostOrOtherBasisAmt
Accumulated Depreciation$521AccumulatedDepreciationAmt
Book Value$521BookValueAmt
EOYFMV$250EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Bank Service Charge$30$30
Filing Expense$25$25

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryIncome tax - IRSCategoryTxt
Amt$30Amt
Disbursements Charitable Prps$30DisbursementsCharitablePrpsAmt

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