HUNG & LEE FAMILY FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
HUNG & LEE FAMILY FOUNDATION (EIN 45-5329133)
Tax period
2014-05-01 to 2015-04-30
Filed
2015-07-10
IRS object ID
201501919349100410
Schema version
2014v5.0
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)
Return2015-07-10T11:55:28-07:00ReturnTs
Tax Period End2015-04-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

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 Begin2014-05-01TaxPeriodBeginDt

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 Line1608 ALBERTA AVEAddressLine1Txt
CitySUNNYVALECityNm
State AbbreviationCAStateAbbreviationCd
ZIP94087ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSIMON HUNGPersonNm
Person TitleSecretaryPersonTitleTxt
Signature2015-07-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSHUANG MAOPreparerPersonNm
PTINP00660082PTIN
Phone4083929977PhoneNum
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$83,917FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$25,361ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$224DividendsRevAndExpnssAmt
Dividends Net Invst Incm$224DividendsNetInvstIncmAmt
Dividends Adj Net Incm$224DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$16NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$16GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$16CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$16NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$25,601TotalRevAndExpnssAmt
Total Net Invst Incm$240TotalNetInvstIncmAmt
Total Adj Net Incm$240TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$1,485AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$1,485AccountingFeesChrtblPrpsAmt
Deprec And Dpltn Rev And Expnss$905DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$10OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$10OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$2,400TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$1,495TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,400TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$1,495TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$23,201ExcessRevenueOverExpensesAmt
Net Investment Income$240NetInvestmentIncomeAmt
Adjusted Net Income$240AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$5,407CashBOYAmt
Cash EOY$4,016CashEOYAmt
Cash EOYFMV$4,016CashEOYFMVAmt
Corporate Stock BOY$20,411CorporateStockBOYAmt
Corporate Stock EOY$45,908CorporateStockEOYAmt
Corporate Stock EOYFMV$79,401CorporateStockEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$3,819LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$2,765LandBldgEquipAccumDeprecAmt
Land BOY$1,959LandBOYAmt
Land EOY$1,054LandEOYAmt
Land EOYFMV$500LandEOYFMVAmt
Total Assets BOY$27,777TotalAssetsBOYAmt
Total Assets EOY$50,978TotalAssetsEOYAmt
Total Assets EOYFMV$83,917TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$27,777RetainedEarningBOYAmt
Retained Earning EOY$50,978RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$27,777TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$50,978TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$27,777TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$50,978TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$27,777TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$23,201ExcessRevenueOverExpensesAmt
Subtotal$50,978SubtotalAmt
Tot Net Ast Or Fund Balances EOY$50,978TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$16CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$16NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$5InvestmentIncomeExciseTaxAmt
Subtotal$5SubtotalAmt
Tax Based On Investment Income$5TaxBasedOnInvestmentIncomeAmt
Tax Due$5TaxDueAmt

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 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 ContributorsYes (true)NewSubstantialContributorsInd
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 Line1608 ALBERTA AVEAddressLine1Txt
CitySUNNYVALECityNm
State AbbreviationCAStateAbbreviationCd
ZIP94087ZIPCd
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 (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
SIMON HUNG
608 ALBERTA AVESUNNYVALECA94087Secretary1.00$0
WEI-FANG HUNG
608 ALBERTA AVESUNNYVALECA94087President & CEO1.00$0
OLIVIA LEE
608 ALBERTA AVESUNNYVALECA94087CFO1.00$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$52,476AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$4,150AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$56,626TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$56,626AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$849CashDeemedCharitableAmt
Net Vl Noncharitable Assets$55,777NetVlNoncharitableAssetsAmt
Minimum Investment Return$2,789MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$2,789MinimumInvestmentReturnAmt
Tax Based On Investment Income$5TaxBasedOnInvestmentIncomeAmt
Total Tax$5TotalTaxAmt
Distributable Before Adj$2,784DistributableBeforeAdjAmt
Distributable Before Ded$2,784DistributableBeforeDedAmt
Distributable As Adjusted$2,784DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,495ExpensesAndContributionsAmt
Qualifying Distributions$1,495QualifyingDistributionsAmt
Adjusted Qualifying Distri$1,495AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$2,784DistributableAsAdjustedAmt
Excess Distribution Cyov Yr2$16,105ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,019ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$17,124TotalExcessDistributionCyovAmt
Qualifying Distributions$1,495QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$1,495AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$1,289ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$1,289ExcessDistributionCyovAppCYAmt
Total Corpus$15,835TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$15,835ExcessDistriCyovToNextYrAmt
Excess From Year2$14,816ExcessFromYear2Amt
Excess From Year1$1,019ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

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

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion1ExclusionCd

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$224RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$16RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$240RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$240TotalIncomeProducingActyAmt

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 Line1608 ALBERTA AVEAddressLine1Txt
CitySUNNYVALECityNm
State AbbreviationCAStateAbbreviationCd
ZIP94087ZIPCd
FieldValueIRS element (for citing)
Total Contributions$36,841TotalContributionsAmt
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Noncash Property168 SH TSLA STOCK TRADED ON NASDAQNoncashPropertyDesc
Fair Market Value$36,841FairMarketValueAmt
Received2014-12-19ReceivedDt

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryAccounting FeesCategoryTxt
Amt$1,485Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$1,485DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (3 entries)

PropertyPropertyDescAcquiredAcquiredDtCost Or Other BasisCostOrOtherBasisAmtPrior Year DepreciationPriorYearDepreciationAmtComputation MethodComputationMethodTxtRtRtCurrent Year ExpenseCurrentYearExpenseAmt
COMPUTER2012-11-19$2,144$1,115200DB0.4000$412
CAMERA2012-12-13$998$519200DB0.4000$192
COMPUTER2013-06-12$677$226200DB0.4445$301

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockCHARLES SCHWAB ACC#9048StockNm
EOY Book Value$45,908EOYBookValueAmt
EOYFMV$79,401EOYFMVAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp

FieldValueIRS element (for citing)
Category Or ItemMachinery and EquipmentCategoryOrItemTxt
Cost Or Other Basis$3,819CostOrOtherBasisAmt
Accumulated Depreciation$2,765AccumulatedDepreciationAmt
Book Value$1,054BookValueAmt
EOYFMV$500EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescFiling FeeDesc
Revenue And Expenses Per Books$10RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$10DisbursementsCharitablePrpsAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonSIMON HUNG OLIVIA LEEPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1608 ALBERTA AVEAddressLine1Txt
CitySUNNYVALECityNm
State AbbreviationCAStateAbbreviationCd
ZIP94087ZIPCd

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