WANG FAMILY FOUNDATION: Form 990PF, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
WANG FAMILY FOUNDATION (EIN 68-0338738)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-03-22
IRS object ID
201700819349100905
Schema version
2016v3.0
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)
Return2017-03-22T18:00:30-07:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

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 Begin2016-01-01TaxPeriodBeginDt

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
Signature2017-03-20SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonEric LehmanPreparerPersonNm
PTINP00817680PTIN
Phone7072246584PhoneNum
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,204,139FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$56,808DividendsRevAndExpnssAmt
Dividends Net Invst Incm$56,808DividendsNetInvstIncmAmt
Dividends Adj Net Incm$56,808DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$54,466NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$341,025GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$54,466CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$8,058NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$111,274TotalRevAndExpnssAmt
Total Net Invst Incm$111,274TotalNetInvstIncmAmt
Total Adj Net Incm$64,866TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$1,400AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$1,530TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$5,319OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$8,249TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$313,905ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$313,905ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$322,154TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$313,905TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$210,880ExcessRevenueOverExpensesAmt
Net Investment Income$111,274NetInvestmentIncomeAmt
Adjusted Net Income$64,866AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$119,191CashBOYAmt
Cash EOY$194,870CashEOYAmt
Cash EOYFMV$194,870CashEOYFMVAmt
Corporate Stock BOY$2,295,828CorporateStockBOYAmt
Corporate Stock EOY$2,009,269CorporateStockEOYAmt
Corporate Stock EOYFMV$2,009,269CorporateStockEOYFMVAmt
Total Assets BOY$2,415,019TotalAssetsBOYAmt
Total Assets EOY$2,204,139TotalAssetsEOYAmt
Total Assets EOYFMV$2,204,139TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$2,415,019UnrestrictedBOYAmt
Unrestricted EOY$2,204,139UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$2,415,019TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,204,139TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,415,019TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,204,139TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,415,019TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$210,880ExcessRevenueOverExpensesAmt
Subtotal$2,204,139SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,204,139TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmtCost Or Other BasisCostOrOtherBasisAmt
Fidelity InvestmentsP2016-06-012016-06-01$8,058$8,058$8,058
Fidelity Investments 1566P2013-05-032016-04-01$332,967$46,408$46,408$286,559
FieldValueIRS element (for citing)
Capital Gain Net Income$54,466CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$8,058NetShortTermCapitalGainLossAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$384,879AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$2,415,019NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.15937DistributionYr1Rt
Adjusted Qlfy Distri Yr2$213,078AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$2,738,031NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.07782DistributionYr2Rt
Adjusted Qlfy Distri Yr3$252,134AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$1,508,589NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.16713DistributionYr3Rt
Adjusted Qlfy Distri Yr4$171,323AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,631,120NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.10503DistributionYr4Rt
Adjusted Qlfy Distri Yr5$448,664AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$1,892,633NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.23706DistributionYr5Rt
Total Distribution0.746415TotalDistributionRt
Average Distribution0.149283AverageDistributionRt
Net Investment Income Pct$1,113NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$1,113AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$313,905QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$1,113InvestmentIncomeExciseTaxAmt
Subtotal$1,113SubtotalAmt
Tax Based On Investment Income$1,113TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$33EsPenaltyAmt
Tax Due$1,146TaxDueAmt

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
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)
Phone7072592806PhoneNum

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 (4 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
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)
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$162,178Expenses1Amt
Description2Cornell Law School.The Foundation continues its engagement with the law school in supporting its international programs.Description2Txt
Expenses2$25,000Expenses2Amt
Description3University of California - Berkeley.The Foundation continues its engagement with UC Berkeley by supporting research and programs.Description3Txt
Expenses3$36,154Expenses3Amt

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$313,905ExpensesAndContributionsAmt
Qualifying Distributions$313,905QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$1,113PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$312,792AdjustedQualifyingDistriAmt

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$313,905CurrentYearAmt
Total$313,905TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$313,905CurrentYearAmt
Total$313,905TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line1RecipientForeignAddress/AddressLine1TxtCityRecipientForeignAddress/CityNmCountryRecipientForeignAddress/CountryCdProvince Or StateRecipientForeignAddress/ProvinceOrStateNm
International Assoc of Law Schools
124 Myron Taylor HallIthicaNY14853PCContinuity of charitable activities.$162,178
Cornell Law School
124 Myron Taylor HallIthicaNY14853EOFThe Foundation continues its engagement with the law school in supporting international programs.$25,000
University of California-Berkeley
University AveBerkeleyCA94707PCThe Foundation continues its engagement with UC Berkeley by supporting research and programs.$36,154
Jessup-China National Rounds
POFThe Foundation continues its support of the Phillip Jessup International Moot Court competition in China.$49,184Renmin UniversityBeijingCH
Other Grants to Unrelated Entities
PFContinuation of charitable activity.$11,492Kenneth Wang School of LawSoochow UniversityCHSuzhou
After Jessup-Hasting Law School
200 McAllister StreetSan FranciscoCA94102EOFThe Foundation supported a China - US mixed Jessup competition after the Jessup International Rounds.$29,897
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$313,905TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$56,808RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$54,466RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$111,274RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$111,274TotalIncomeProducingActyAmt

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)
CategoryTax Preparation FeeCategoryTxt
Amt$1,400Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockFidelity Investments 1566StockNm
EOY Book Value$2,009,269EOYBookValueAmt
EOYFMV$2,009,269EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
Bank Fees$2,087
Operating Expenses$3,232

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
Franchise Tax Board$30
Internal Revenue Service$1,500

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