WANGSONG FAMILY FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
WANGSONG FAMILY FOUNDATION (EIN 46-1586372)
Tax period
2023-11-01 to 2024-10-31
Filed
2025-10-09
IRS object ID
202542829349100119
Schema version
2023v6.0
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)
Return2025-10-09T11:43:37-00:00ReturnTs
Tax Period End2024-10-31TaxPeriodEndDt
Return Type990PFReturnTypeCd
Tax Period Begin2023-11-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN461586372EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1WANGSONG FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlWANGBusinessNameControlTxt
Phone4084317688PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12522 BATON ROUGEAddressLine1Txt
CitySAN JOSECityNm
State AbbreviationCAStateAbbreviationCd
ZIP95133ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonXIN-NING SONGPersonNm
Person TitleCFOPersonTitleTxt
Phone4084317688PhoneNum
Signature2025-10-09SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonWINSTON W LEEPreparerPersonNm
PTINP00269636PTIN
Phone7075295480PhoneNum
Preparation2025-10-09PreparationDt
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$314,804FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Interest On Sav Rev And Expnss$2InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$2InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$10,394DividendsRevAndExpnssAmt
Dividends Net Invst Incm$10,394DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$62,556NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,011,556GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$62,556CapGainNetIncmNetInvstIncmAmt
Gross Sales Less Ret And Allwnc$56,271GrossSalesLessRetAndAllwncAmt
Cost Of Goods Sold$60,229CostOfGoodsSoldAmt
Gross Profit Rev And Expnss-$3,958GrossProfitRevAndExpnssAmt
Total Rev And Expnss$68,994TotalRevAndExpnssAmt
Total Net Invst Incm$72,952TotalNetInvstIncmAmt
Taxes Rev And Expnss$6TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$1,529OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$1,535TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$14,075ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$14,075ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$15,610TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$14,075TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$53,384ExcessRevenueOverExpensesAmt
Net Investment Income$72,952NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$9,153CashBOYAmt
Cash EOY$39,805CashEOYAmt
Cash EOYFMV$39,805CashEOYFMVAmt
Sav And Temp Cash Invst BOY$212,357SavAndTempCashInvstBOYAmt
Acct Rcvbl BOY$31,029AcctRcvblBOYAmt
Inventories BOY$5,120InventoriesBOYAmt
Inventories EOY$3,000InventoriesEOYAmt
Inventories EOYFMV$3,000InventoriesEOYFMVAmt
Corporate Stock EOY$264,599CorporateStockEOYAmt
Corporate Stock EOYFMV$271,999CorporateStockEOYFMVAmt
Total Assets BOY$257,659TotalAssetsBOYAmt
Total Assets EOY$307,404TotalAssetsEOYAmt
Total Assets EOYFMV$314,804TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$257,659NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$307,404NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$257,659TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$307,404TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$257,659TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$307,404TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$257,659TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$53,384ExcessRevenueOverExpensesAmt
Subtotal$311,043SubtotalAmt
Other Decreases$3,639OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$307,404TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyFIDELITY ACCT Z40-387050PropertyDesc
How AcquiredPHowAcquiredCd
Acquired2023-11-01AcquiredDt
Sold2024-10-31SoldDt
Gross Sales Price$1,011,556GrossSalesPriceAmt
Cost Or Other Basis$949,000CostOrOtherBasisAmt
Gain Or Loss$62,556GainOrLossAmt
Gains Minus Excess Or Losses$62,556GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$62,556CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,014InvestmentIncomeExciseTaxAmt
Subtotal$1,014SubtotalAmt
Tax Based On Investment Income$1,014TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$1,500ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$1,500TotalPaymentsAndCreditsAmt
Original Return Tax Paid$1,500OriginalReturnTaxPaidAmt
Overpayment$486OverpaymentAmt
Applied To ES Tax$486AppliedToESTaxAmt

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
Individual With BooksXIN-NING SONGIndividualWithBooksNm
Phone4084317688PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line12522 BATON ROUGEAddressLine1Txt
CitySAN JOSECityNm
State AbbreviationCAStateAbbreviationCd
ZIP95133ZIPCd
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
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
WEI WANG
2522 BATON ROUGESAN JOSECA95133CEO025.00$0
XIN-NING SONG
2522 BATON ROUGESAN JOSECA95133CFO SECRETARY025.00$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)
Description1SCHOLARSHIP SCHOLARSHIP AWARDS TO ACADEMIC EXCELLENT STUDENTSDescription1Txt
Expenses1$14,000Expenses1Amt
Description2CHARITABLE CONTRIBUTION LIVE OAK ACADEMYDescription2Txt
Expenses2$75Expenses2Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$273,988AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$23,332AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$297,320TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$297,320AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$4,460CashDeemedCharitableAmt
Net Vl Noncharitable Assets$292,860NetVlNoncharitableAssetsAmt
Minimum Investment Return$14,643MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$14,643MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,014TaxBasedOnInvestmentIncomeAmt
Total Tax$1,014TotalTaxAmt
Distributable Before Adj$13,629DistributableBeforeAdjAmt
Distributable Before Ded$13,629DistributableBeforeDedAmt
Distributable As Adjusted$13,629DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$14,075ExpensesAndContributionsAmt
Qualifying Distributions$14,075QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$13,629DistributableAsAdjustedAmt
Excess Distribution Cyov Yr2$8,104ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$11,101ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$19,205TotalExcessDistributionCyovAmt
Qualifying Distributions$14,075QualifyingDistributionsAmt
Applied To Current Year$13,629AppliedToCurrentYearAmt
Remaining Distri From Corpus$446RemainingDistriFromCorpusAmt
Total Corpus$19,651TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$19,651ExcessDistriCyovToNextYrAmt
Excess From Year2$8,104ExcessFromYear2Amt
Excess From Year1$11,101ExcessFromYear1Amt
Excess From Current Year$446ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerNONEContributingManagerNm
Shareholder ManagerNAShareholderManagerNm

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonXIN-NING SONGRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line12522 BATON ROUGEAddressLine1Txt
CitySAN JOSECityNm
State AbbreviationCAStateAbbreviationCd
ZIP95133ZIPCd
FieldValueIRS element (for citing)
Recipient Phone4084317688RecipientPhoneNum
Recipient Email AddressXINITAGMAIL.COMRecipientEmailAddressTxt
Form And Info And MaterialsNONE AT PRESENTFormAndInfoAndMaterialsTxt
Submission DeadlinesNONE AT PRESENTSubmissionDeadlinesTxt
Restrictions On AwardsNONE AT PRESENTRestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
ELENA ZONG
7413 SENECA FALLS LOOPAUSTINTX78739SCHOLARSHIP$4,000
SIPING SONG
1036 CAMEO CTATWATERCA95301SCHOLARSHIP$5,000
SIBO SONG
1036 CAMEO CTATWATERCA95301SCHOLARSHIP$5,000
LIVE OAK ACADEMY
2499 HOMESTEAD ROADSANTA CLARACA95050DONATION$75
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$14,075TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$2ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$10,394ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$62,556ExclusionAmt

Gross Profit Loss Sls Of Invntry GrossProfitLossSlsOfInvntryGrp

FieldValueIRS element (for citing)
Exclusion-$3,958ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$68,994ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$68,994TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp (7 entries)

Line NumberLineNumberTxtRelationship StatementRelationshipStatementTxt
1THE MISSION OF THE FOUNDATION IS TO PROVIDE EDUCATIONAL RESOURCES TO ACADEMIC
2INSTITUTIONS. IN FISCAL YEAR 2023, RESOURCES WERE FOCUSED ON SHOLARSHIP AWARDS
3TO ACADEMICALLY EXCEL STUDENTS. TOTAL SCHOLARSHIP AMOUNT AWARDED IN 2023 WERE 14000.
4THE FOUNDATION DISTRIBUTES EDUCATIONAL SOFTWARES AT AFFORDABLE PRICE TO ALL
5INTERESTED STUDENTS, INCLUDING LESS PRIVILEGED ONES. FOR STUDENTS WHO COULD NOT
6AFFORD, THE FOUNDATION HAS PROVIDED THE LEARNING SOFTWARE AT BELOW COST OR FREE.
7THE FOUNDATION ALSO PROVIDES FREE TUTORING SERVICES TO STUDENTS.

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

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
10000 shares of PROSHARES BITCOIN ETPS$191,400$198,800
73199 shares of FIDELITY GOVT MONEY MARKET$73,199$73,199

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescADJUSTMENTSDesc
Amt$3,639Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (9 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
ZOOM MEETING FEES$125
FILING FEE WITH CA SOS$20
GIFTS TO VOLUNTEERS$780
POSTAGE$23
YOUTUBE PREMIUM SUBSCRIPTION$276
OFFICE EXP$51
PARKING$3
BANKING FEES$24
BUSINESS MEALS$227

Sales Of Inventory List SalesOfInventoryList

Inventory Sale InventorySaleGrp

FieldValueIRS element (for citing)
CategoryEDUCATION SOFTWARESCategoryTxt
Gross Sales$56,271GrossSalesAmt
Cost Of Goods Sold$60,229CostOfGoodsSoldAmt
Net-$3,958NetAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL TAXCategoryTxt
Amt$6Amt

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