LAYGEND FOUNDATION: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
LAYGEND FOUNDATION (EIN 87-2737376)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-11-06
IRS object ID
202323109349101062
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)
Return2023-11-06T11:46:07-08:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

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 Begin2022-01-01TaxPeriodBeginDt

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
Signature2023-11-06SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJENG-GUANGPersonFirstNm
Person LastLAYPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
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

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$0FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$1,288InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,288InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$1,288InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$370,108DividendsRevAndExpnssAmt
Dividends Net Invst Incm$370,108DividendsNetInvstIncmAmt
Dividends Adj Net Incm$370,108DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss-$3,335,080NetGainSaleAstRevAndExpnssAmt
Total Rev And Expnss-$2,963,684TotalRevAndExpnssAmt
Total Net Invst Incm$371,396TotalNetInvstIncmAmt
Total Adj Net Incm$371,396TotalAdjNetIncmAmt
Legal Fees Rev And Expnss$42,645LegalFeesRevAndExpnssAmt
Legal Fees Dsbrs Chrtbl$42,645LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss$11,589AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$11,589AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$5,500TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$1,000OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$1,000OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$60,734TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$55,234TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$2,500,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$2,500,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,560,734TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$2,555,234TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$5,524,418ExcessRevenueOverExpensesAmt
Net Investment Income$371,396NetInvestmentIncomeAmt
Adjusted Net Income$371,396AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash EOY$9,000CashEOYAmt
Sav And Temp Cash Invst EOY$9,125,460SavAndTempCashInvstEOYAmt
Other Investments BOY$248,419,683OtherInvestmentsBOYAmt
Other Investments EOY$162,132,320OtherInvestmentsEOYAmt
Other Assets EOY$7,771OtherAssetsEOYAmt
Total Assets BOY$248,419,683TotalAssetsBOYAmt
Total Assets EOY$171,274,551TotalAssetsEOYAmt
Total Assets EOYFMV$0TotalAssetsEOYFMVAmt
Accounts Payable EOY$27,498AccountsPayableEOYAmt
Other Liabilities EOY$1,800OtherLiabilitiesEOYAmt
Total Liabilities EOY$29,298TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$248,419,683NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$171,245,253NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$248,419,683TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$171,245,253TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$248,419,683TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$171,274,551TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$248,419,683TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$5,524,418ExcessRevenueOverExpensesAmt
Subtotal$242,895,265SubtotalAmt
Other Decreases$71,650,012OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$171,245,253TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$5,162InvestmentIncomeExciseTaxAmt
Subtotal$5,162SubtotalAmt
Tax Based On Investment Income$5,162TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,700EstimatedPlusOvpmtIncmTxAmt
Extsn Request Income Tax Paid$2,800ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$6,500TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$77EsPenaltyAmt
Overpayment$1,261OverpaymentAmt
Applied To ES Tax$1,261AppliedToESTaxAmt

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$2,500,000Expenses1Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$183,050,109AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$798,985AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$183,849,094TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$183,849,094AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$2,757,736CashDeemedCharitableAmt
Net Vl Noncharitable Assets$181,091,358NetVlNoncharitableAssetsAmt
Minimum Investment Return$9,054,568MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$9,054,568MinimumInvestmentReturnAmt
Tax Based On Investment Income$5,162TaxBasedOnInvestmentIncomeAmt
Total Tax$5,162TotalTaxAmt
Distributable Before Adj$9,049,406DistributableBeforeAdjAmt
Distributable Before Ded$9,049,406DistributableBeforeDedAmt
Distributable As Adjusted$9,049,406DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$2,555,234ExpensesAndContributionsAmt
Qualifying Distributions$2,555,234QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$9,049,406DistributableAsAdjustedAmt
Undistributed Income PY$298,782UndistributedIncomePYAmt
Qualifying Distributions$2,555,234QualifyingDistributionsAmt
Applied To Year1$298,782AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$2,256,452AppliedToCurrentYearAmt
Undistributed Income CY$6,792,954UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

FieldValueIRS element (for citing)
Recipient PersonRegents of University of CaliforniaRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line19500 Gilman Drive 0940AddressLine1Txt
CityLa JollaCityNm
State AbbreviationCAStateAbbreviationCd
ZIP92093ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNon-relatedRecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposePostsecondary 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.GrantOrContributionPurposeTxt
Amt$2,500,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$2,500,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$1,288ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$370,108ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion-$3,335,080ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion-$2,963,684ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty-$2,963,684TotalIncomeProducingActyAmt

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)
Amt$11,589Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$11,589DisbursementsCharitablePrpsAmt

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
Legal Fees$42,645LegalFeesAmt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$42,645DisbursementsCharitablePrpsAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescInterest ReceivablesDesc
EOY Book Value$7,771EOYBookValueAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescCA Government Filing FeeDesc
Revenue And Expenses Per Books$1,000RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$1,000DisbursementsCharitablePrpsAmt

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

FieldValueIRS element (for citing)
DescAccrued Federal Excise TaxDesc
EOY Book Value$1,800EOYBookValueAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFederal Excise TaxCategoryTxt
Amt$5,500Amt

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