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WEI & WANG FAMILY FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
WEI & WANG FAMILY FOUNDATION INC (EIN 86-3133026)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-11-10
IRS object ID
202203149349102530
Schema version
2021v4.2
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)
Return2022-11-10T15:25:00-06:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN204851730PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Entholpy EMC IncBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line146520 Fremont BlvdAddressLine1Txt
Address Line2Ste606AddressLine2Txt
CityFremontCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94538ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN863133026EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Wei & Wang Family Foundation IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Sichao WeiInCareOfNm
Business Name ControlWEIWBusinessNameControlTxt
Phone9177555643PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line148 Random Farms CirAddressLine1Txt
CityChappaquaCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10514ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSICHAO WEIPersonNm
Person TitlePresidentPersonTitleTxt
Phone9177555643PhoneNum
Signature2022-11-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstSICHAOPersonFirstNm
Person LastWEIPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDANMING XUPreparerPersonNm
PTINP00728294PTIN
Phone4089962002PhoneNum
Preparation2022-11-10PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Initial ReturnYes (X)InitialReturnInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,111,925FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$1,155,000ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$300DividendsRevAndExpnssAmt
Dividends Net Invst Incm$300DividendsNetInvstIncmAmt
Gross Rents Rev And Expnss$13,951GrossRentsRevAndExpnssAmt
Gross Rents Net Invst Incm$13,951GrossRentsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$0NetGainSaleAstRevAndExpnssAmt
Gross Profit Rev And Expnss$0GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss$0OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$1,169,251TotalRevAndExpnssAmt
Total Net Invst Incm$14,251TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$0LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss$0AccountingFeesRevAndExpnssAmt
Other Prof Fees Rev And Expnss$6,350OtherProfFeesRevAndExpnssAmt
Other Prof Fees Dsbrs Chrtbl$6,350OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss$0TaxesRevAndExpnssAmt
Deprec And Dpltn Rev And Expnss$25,863DeprecAndDpltnRevAndExpnssAmt
Trav Conf Meeting Rev And Expnss$1,068TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Dsbrs Chrtbl$1,068TravConfMeetingDsbrsChrtblAmt
Other Expenses Rev And Expnss$14,814OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$14,140OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$674OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$48,095TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$14,140TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$8,092TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$11,103ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$11,103ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$59,198TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$14,140TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$19,195TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$1,110,053ExcessRevenueOverExpensesAmt
Net Investment Income$111NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash EOY$65,180CashEOYAmt
Cash EOYFMV$65,180CashEOYFMVAmt
Acct Rcvbl$9,811AcctRcvblAmt
Acct Rcvbl EOY$9,811AcctRcvblEOYAmt
Acct Rcvbl EOYFMV$9,811AcctRcvblEOYFMVAmt
Rcvbl From Officers EOY$0RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY$0OtherNtsAndLoansRcvblEOYAmt
US Government Obligations EOY$0USGovernmentObligationsEOYAmt
Corporate Stock EOY$0CorporateStockEOYAmt
Corporate Bonds EOY$0CorporateBondsEOYAmt
Land Bldg Investments EOY$0LandBldgInvestmentsEOYAmt
Other Investments EOY$0OtherInvestmentsEOYAmt
Land Bldg Equip Cost Or Other Bss$1,062,797LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$25,863LandBldgEquipAccumDeprecAmt
Land EOY$1,036,934LandEOYAmt
Land EOYFMV$1,036,934LandEOYFMVAmt
Other Assets BOY$0OtherAssetsBOYAmt
Other Assets EOY$0OtherAssetsEOYAmt
Other Assets EOYFMV$0OtherAssetsEOYFMVAmt
Total Assets EOY$1,111,925TotalAssetsEOYAmt
Total Assets EOYFMV$1,111,925TotalAssetsEOYFMVAmt
Accounts Payable EOY$1,872AccountsPayableEOYAmt
Loans From Officers EOY$0LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY$0MortgagesAndNotesPayableEOYAmt
Total Liabilities EOY$1,872TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Additional Paid In Capital EOY$1,110,053AdditionalPaidInCapitalEOYAmt
Tot Net Ast Or Fund Balances EOY$1,110,053TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$0TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,111,925TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Excess Revenue Over Expenses$1,110,053ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$1,110,053SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$1,110,053TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$2SubtotalAmt
Tax Based On Investment Income$2TaxBasedOnInvestmentIncomeAmt
Tax Due$2TaxDueAmt
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
Form990 T FiledfalseForm990TFiledInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsfalseAtLeast5000InAssetsInd
Org Report Or Register StateNYOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Sichao WeiBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9177555643PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line148 Random Farms CirAddressLine1Txt
CityChappaquaCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10514ZIPCd
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 PrsnYes (true)PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
Business HoldingsfalseBusinessHoldingsInd
Excess Business HoldingsfalseExcessBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
Maintained Expenditure RspnsfalseMaintainedExpenditureRspnsInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd
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
SICHAO WEI
48 Random Farms CirChappaquaNY10514President2.000$0
JIALAN WANG
48 Random Farms CirChappaquaNY10514CFO2.000$0
JEREMY WEI
48 Random Farms CirChappaquaNY10514Treasurer2.000$0

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
All Other Program Rltd Invst Tot$0AllOtherProgramRltdInvstTotAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$51,016AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$1,036,934FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,087,950TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$1,087,950AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$16,319CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,071,631NetVlNoncharitableAssetsAmt
Minimum Investment Return$53,582MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$53,582MinimumInvestmentReturnAmt
Tax Based On Investment Income$2TaxBasedOnInvestmentIncomeAmt
Total Tax$2TotalTaxAmt
Distributable Before Adj$53,580DistributableBeforeAdjAmt
Distributable Before Ded$53,580DistributableBeforeDedAmt
Distributable As Adjusted$53,580DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$19,195ExpensesAndContributionsAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$19,195QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$53,580DistributableAsAdjustedAmt
Qualifying Distributions$19,195QualifyingDistributionsAmt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$19,195AppliedToCurrentYearAmt
Undistributed Income CY$34,385UndistributedIncomeCYAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Support TotalSupportGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Public Support Type PublicSupportType

FieldValueIRS element (for citing)
Total$0TotalAmt

Largest Support From EO LargestSupportFromEOGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Gross Investment Income GrossInvestmentIncomeGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerSICHAO WEIContributingManagerNm
Contributing ManagerJIALAN WANGContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Pelotonia
450 W Broad StreetColumbusOH43215PCCharitable$103
Carnegie Mellon University
NASA Research Park Bldg 23 MoffettMountain ViewCA94035PCEducational$10,000
The Mount Kisco Interfaith Food Pantry
300 Main StMount KiscoNY10549PCCharitable$1,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$11,103TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$300ExclusionAmt

Net Rental Income Personal Prop NetRentalIncomePersonalPropGrp

FieldValueIRS element (for citing)
Exclusion16ExclusionCd
Exclusion$13,951ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$14,251ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$14,251TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1Sichao Wei & Jialan WangBusinessNameLine1Txt

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line148 Random Farms CirAddressLine1Txt
CityChappaquaCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10514ZIPCd
FieldValueIRS element (for citing)
Total Contributions$1,155,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp

FieldValueIRS element (for citing)
PropertyCondoPropertyDesc
Acquired2021-05-04AcquiredDt
Cost Or Other Basis$1,054,574CostOrOtherBasisAmt
Computation MethodAltMACRS SLComputationMethodTxt
Current Year Expense$25,863CurrentYearExpenseAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp (3 entries)

Category Or ItemCategoryOrItemTxtCost Or Other BasisCostOrOtherBasisAmtAccumulated DepreciationAccumulatedDepreciationAmtBook ValueBookValueAmtEOYFMVEOYFMVAmt
Condo Purchased on 050421$1,043,980$25,309$1,018,671$1,018,671
Condo Escrow FeePurchased on 050421$16,876$409$16,467$16,467
Condo Furniture Purchased on 08012021$1,941$145$1,796$1,796

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmtNet Investment IncomeNetInvestmentIncomeAmt
Office Expenses$264$264
Office Supplies$410$410
Condo Expenses$14,140$14,140

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Setup Fee$5,000$5,000
Consulting Fee$1,350$1,350

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCd
SICHAO WEI
48 Random Farms CirChappaquaNY10514
JIALAN WANG
48 Random Farms CirChappaquaNY10514

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