HUNG & LEE FAMILY FOUNDATION: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
HUNG & LEE FAMILY FOUNDATION (EIN 45-5329133)
Tax period
2020-05-01 to 2021-04-30
Filed
2021-09-15
IRS object ID
202112589349101101
Schema version
2020v4.0
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)
Return2021-09-15T14:17:36-07:00ReturnTs
Tax Period End2021-04-30TaxPeriodEndDt

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 Begin2020-05-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN455329133EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1HUNG & LEE FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlHUNGBusinessNameControlTxt
Phone3155674666PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1650 CASTRO ST SUITE 120-377AddressLine1Txt
CityMOUNTAIN VIEWCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94041ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSIMON HUNGPersonNm
Person TitleSecretaryPersonTitleTxt
Signature2021-09-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstSIMONPersonFirstNm
Person LastHUNGPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

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)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$662,757FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$10,000ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$393DividendsRevAndExpnssAmt
Dividends Net Invst Incm$393DividendsNetInvstIncmAmt
Dividends Adj Net Incm$393DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$82,763NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$88,793GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$82,763CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$82,763NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$93,156TotalRevAndExpnssAmt
Total Net Invst Incm$83,156TotalNetInvstIncmAmt
Total Adj Net Incm$83,156TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$4,820AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$4,820AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$7TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$7TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$1,237OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$1,237OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$6,064TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$6,064TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$6,064TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$6,064TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$87,092ExcessRevenueOverExpensesAmt
Net Investment Income$83,156NetInvestmentIncomeAmt
Adjusted Net Income$83,156AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$3,156CashBOYAmt
Cash EOY$96,278CashEOYAmt
Cash EOYFMV$96,278CashEOYFMVAmt
Corporate Stock BOY$49,823CorporateStockBOYAmt
Corporate Stock EOY$43,793CorporateStockEOYAmt
Corporate Stock EOYFMV$566,479CorporateStockEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$3,819LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$3,819LandBldgEquipAccumDeprecAmt
Total Assets BOY$52,979TotalAssetsBOYAmt
Total Assets EOY$140,071TotalAssetsEOYAmt
Total Assets EOYFMV$662,757TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$52,979RetainedEarningBOYAmt
Retained Earning EOY$140,071RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$52,979TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$140,071TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$52,979TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$140,071TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$52,979TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$87,092ExcessRevenueOverExpensesAmt
Subtotal$140,071SubtotalAmt
Tot Net Ast Or Fund Balances EOY$140,071TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyCharles Schwab - 9048PropertyDesc
How AcquiredPHowAcquiredCd
Acquired2020-05-01AcquiredDt
Sold2020-05-01SoldDt
Gross Sales Price$88,793GrossSalesPriceAmt
Cost Or Other Basis$6,030CostOrOtherBasisAmt
Gain Or Loss$82,763GainOrLossAmt
Gains Minus Excess Or Losses$82,763GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$82,763CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$82,763NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,156InvestmentIncomeExciseTaxAmt
Subtotal$1,156SubtotalAmt
Tax Based On Investment Income$1,156TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Tax Due$1,156TaxDueAmt

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 Line1SIMON HUNGBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3155674666PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1650 CASTRO ST SUITE 120-377AddressLine1Txt
CityMOUNTAIN VIEWCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94041ZIPCd
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
SIMON HUNG
650 CASTRO ST SUITE 120-377MOUNTAIN VIEWCA94041Secretary1.00$0
WEI-FANG HUNG
650 CASTRO ST SUITE 120-377MOUNTAIN VIEWCA94041President & CEO1.00$0
OLIVIA LEE
650 CASTRO ST SUITE 120-377MOUNTAIN VIEWCA94041CFO1.00$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$440,070AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$46,585AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$486,655TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$486,655AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$7,300CashDeemedCharitableAmt
Net Vl Noncharitable Assets$479,355NetVlNoncharitableAssetsAmt
Minimum Investment Return$23,968MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$23,968MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,156TaxBasedOnInvestmentIncomeAmt
Total Tax$1,156TotalTaxAmt
Distributable Before Adj$22,812DistributableBeforeAdjAmt
Distributable Before Ded$22,812DistributableBeforeDedAmt
Distributable As Adjusted$22,812DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$6,064ExpensesAndContributionsAmt
Qualifying Distributions$6,064QualifyingDistributionsAmt
Adjusted Qualifying Distri$6,064AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$22,812DistributableAsAdjustedAmt
Undistributed Income PY$5,721UndistributedIncomePYAmt
Qualifying Distributions$6,064QualifyingDistributionsAmt
Applied To Year1$5,721AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$343AppliedToCurrentYearAmt
Undistributed Income CY$22,469UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerSIMON HUNGContributingManagerNm
Contributing ManagerOLIVIA LEEContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$393RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$82,763RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$83,156RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$83,156TotalIncomeProducingActyAmt

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 PersonSIMON HUNG OLIVIA LEEContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1650 CASTRO ST SUITE 120-377AddressLine1Txt
CityMOUNTAIN VIEWCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94041ZIPCd
FieldValueIRS element (for citing)
Total Contributions$10,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryAccounting FeesCategoryTxt
Amt$4,820Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$4,820DisbursementsCharitablePrpsAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockCHARLES SCHWAB ACC#9048StockNm
EOY Book Value$43,793EOYBookValueAmt
EOYFMV$566,479EOYFMVAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or ItemMachinery and EquipmentCategoryOrItemTxt
Cost Or Other Basis$3,819CostOrOtherBasisAmt
Accumulated Depreciation$3,819AccumulatedDepreciationAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Auto lease$1,068$1,068
Bank Service Charges$159$159
Filing Fee$10$10

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryIncome TaxCategoryTxt
Amt$7Amt
Disbursements Charitable Prps$7DisbursementsCharitablePrpsAmt

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