WANG FAMILY FOUNDATION: Form 990PF, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
WANG FAMILY FOUNDATION (EIN 68-0338738)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-06-01
IRS object ID
201841529349100614
Schema version
2017v2.2
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)
Return2018-06-01T15:09:48-07:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN941155092PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Lehman and AssociatesBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO Box 2880AddressLine1Txt
CityNapaCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94558ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN680338738EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Wang Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlWANGBusinessNameControlTxt
Phone7072592806PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13268 Villa LaneAddressLine1Txt
CityNapaCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94558ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFrancis SL WangPersonNm
Person TitlePresidentPersonTitleTxt
Signature2018-06-01SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonEric LehmanPreparerPersonNm
PTINP00817680PTIN
Phone7072246584PhoneNum
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

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

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$103,200ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$54,418DividendsRevAndExpnssAmt
Dividends Net Invst Incm$54,418DividendsNetInvstIncmAmt
Dividends Adj Net Incm$54,418DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$17,123NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$147,198GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$17,123CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$174,741TotalRevAndExpnssAmt
Total Net Invst Incm$71,541TotalNetInvstIncmAmt
Total Adj Net Incm$54,418TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$1,400AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$1,151TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$2,476OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$5,027TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$275,764ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$275,764ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$280,791TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$275,764TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$106,050ExcessRevenueOverExpensesAmt
Net Investment Income$71,541NetInvestmentIncomeAmt
Adjusted Net Income$54,418AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$194,870CashBOYAmt
Corporate Stock BOY$2,009,269CorporateStockBOYAmt
Corporate Stock EOY$2,098,089CorporateStockEOYAmt
Total Assets BOY$2,204,139TotalAssetsBOYAmt
Total Assets EOY$2,098,089TotalAssetsEOYAmt
Total Assets EOYFMV$0TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$2,204,139UnrestrictedBOYAmt
Unrestricted EOY$2,098,089UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$2,204,139TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,098,089TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,204,139TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,098,089TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,204,139TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$106,050ExcessRevenueOverExpensesAmt
Subtotal$2,098,089SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,098,089TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
Fidelity InvestmentsP1998-09-152017-12-29$134,378$130,075$4,303$4,303
Fidelity InvestmentsP2015-06-012017-06-01$12,820$12,820$12,820
FieldValueIRS element (for citing)
Capital Gain Net Income$17,123CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$312,792AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$2,204,139NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.14191DistributionYr1Rt
Adjusted Qlfy Distri Yr2$384,879AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$2,415,019NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.15937DistributionYr2Rt
Adjusted Qlfy Distri Yr3$213,078AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$2,738,031NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.07782DistributionYr3Rt
Adjusted Qlfy Distri Yr4$252,134AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,508,589NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.16713DistributionYr4Rt
Adjusted Qlfy Distri Yr5$171,323AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$1,631,120NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.10503DistributionYr5Rt
Total Distribution0.651268TotalDistributionRt
Average Distribution0.130254AverageDistributionRt
Net Investment Income Pct$715NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$715AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$275,764QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$715InvestmentIncomeExciseTaxAmt
Subtotal$715SubtotalAmt
Tax Based On Investment Income$715TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$18EsPenaltyAmt
Tax Due$733TaxDueAmt

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 AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateCAOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
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 Line1Frank WangBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone7072592811PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line13268 Villa LaneAddressLine1Txt
CityNapaCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94558ZIPCd
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
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

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (6 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Francis SL Wang
3268 Villa LaneNapaCA94558Director30.00$0
Laura Young
3268 Villa LaneNapaCA94558Director5.00$0
Mary Wang
3268 Villa LaneNapaCA94558Director1.00$0
Elizabeth Wang
3268 Villa LaneNapaCA94558Director1.00$0
Morgan Wang
3268 Villa LaneNapaCA94558Director1.00$0
Andrew Wang
3268 Villa LaneNapaCA94558Director1.00$0

Compensation Highest Paid Empl CompensationHighestPaidEmplGrp

FieldValueIRS element (for citing)
PersonMartha DelgadoPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13206 Stuart WayAddressLine1Txt
CityNapaCityNm
State AbbreviationCAStateAbbreviationCd
ZIP94558ZIPCd
FieldValueIRS element (for citing)
TitleProject ManagerTitleTxt
Average Hrs Per Wk Devoted To Pos30.00AverageHrsPerWkDevotedToPosRt
Compensation$58,254CompensationAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1International Association of Law Schools (IALS).The IALS is a non-profit international organization of the world's leading law schools, with approximately 170 members representing more than 50 different countries. The Foundation was instrumental in the founding of the organization. It continues its efforts in assisting the association to gain new members, provide membership services, and in the governance of the association. It also provides administrative, logistical, intellectual, and financial support for its programs. The Foundation continues its assistance in organizing and supporting conferences on various legal educational topics.Description1Txt
Expenses1$165,815Expenses1Amt
Description2Cornell Law School.The Foundation continues its engagement with the law school in supporting its international programs.Description2Txt
Expenses2$56,208Expenses2Amt
Description3University of California - Berkeley.The Foundation continues its engagement with UC Berkeley by supporting research and programs.Description3Txt
Expenses3$47,179Expenses3Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$275,764ExpensesAndContributionsAmt
Qualifying Distributions$275,764QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$715PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$275,049AdjustedQualifyingDistriAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j5Yes (X)Section4942j5Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

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

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$275,764CurrentYearAmt
Year1$313,905Year1Amt
Year2$384,879Year2Amt
Year3$213,078Year3Amt
Total$1,187,626TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$275,764CurrentYearAmt
Year1$313,905Year1Amt
Year2$384,879Year2Amt
Year3$213,078Year3Amt
Total$1,187,626TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerFrancis SL WangContributingManagerNm
Contributing ManagerLaura YoungContributingManagerNm
Shareholder ManagerFrancis SL WangShareholderManagerNm
Shareholder ManagerLaura YoungShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line1RecipientForeignAddress/AddressLine1TxtCityRecipientForeignAddress/CityNmProvince Or StateRecipientForeignAddress/ProvinceOrStateNmCountryRecipientForeignAddress/CountryCd
International Assoc of Law Schools
124 Myron Taylor HallIthicaNY14853PCContinuity of charitable activities.$165,815
Cornell Law School
124 Myron Taylor HallIthicaNY14853EOFThe Foundation continues its engagement with the law school in supporting international programs.$56,208
University of California-Berkeley
University AveBerkeleyCA94707PCThe Foundation continues its engagement with UC Berkeley by supporting research and programs.$47,179
Other Grants to Unrelated Entities
PCContinuation of charitable activity.$6,562Kenneth Wang School of LawSoochow UniversitySuzhouCH
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$275,764TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$54,418RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$17,123RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$71,541RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$71,541TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number1LineNumberTxt
Relationship StatementMaintain funds sufficient to insure present and future funding availabilty to accomplish its mission to improve education through it's programs with educational institutions.RelationshipStatementTxt

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)
CategoryConsulting and Tax PreparationCategoryTxt
Amt$1,400Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmt
Fidelity Investments 1566$1,994,889
6000 shs American Movil$103,200

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
Bank Fees$2,162
Operating Expenses$314

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
Franchise Tax Board$10
Internal Revenue Service$1,141

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