WANG FAMILY FOUNDATION: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
WANG FAMILY FOUNDATION (EIN 68-0338738)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-05-14
IRS object ID
201511349349101596
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)
Return2015-05-14T16:54:08-05:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

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 Begin2014-01-01TaxPeriodBeginDt

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
Phone7072592811PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13268 VILLA LANEAddressLine1Txt
CityNAPACityNm
State AbbreviationCAStateAbbreviationCd
ZIP94558ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFRANCIS WANGPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone7072592811PhoneNum
Signature2015-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonERIC LEHMAN CPAPreparerPersonNm
PTINP00817680PTIN
Phone7072246584PhoneNum
Preparation2015-05-14PreparationDt
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$2,738,031FMVAssetsEOYAmt
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$61,113DividendsRevAndExpnssAmt
Dividends Net Invst Incm$61,113DividendsNetInvstIncmAmt
Dividends Adj Net Incm$61,113DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$33,711NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$33,711GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$33,711CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$94,824TotalRevAndExpnssAmt
Total Net Invst Incm$94,824TotalNetInvstIncmAmt
Total Adj Net Incm$61,113TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$1,100AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,100AccountingFeesNetInvstIncmAmt
Other Prof Fees Rev And Expnss$1,800OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$1,800OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$830TaxesRevAndExpnssAmt
Taxes Net Invst Incm$830TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$548OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$548OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$4,278TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$4,278TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$213,078ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$213,078ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$217,356TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$4,278TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$213,078TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$122,532ExcessRevenueOverExpensesAmt
Net Investment Income$90,546NetInvestmentIncomeAmt
Adjusted Net Income$61,113AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$300,000CashBOYAmt
Cash EOY$177,468CashEOYAmt
Cash EOYFMV$410,708CashEOYFMVAmt
Corporate Stock BOY$48,627CorporateStockBOYAmt
Corporate Stock EOY$48,627CorporateStockEOYAmt
Corporate Stock EOYFMV$2,053,523CorporateStockEOYFMVAmt
Corporate Bonds EOYFMV$273,800CorporateBondsEOYFMVAmt
Total Assets BOY$348,627TotalAssetsBOYAmt
Total Assets EOY$226,095TotalAssetsEOYAmt
Total Assets EOYFMV$2,738,031TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$348,627UnrestrictedBOYAmt
Unrestricted EOY$226,095UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$348,627TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$226,095TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$348,627TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$226,095TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$348,627TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$122,532ExcessRevenueOverExpensesAmt
Subtotal$226,095SubtotalAmt
Tot Net Ast Or Fund Balances EOY$226,095TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$33,711CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$252,134AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$1,508,589NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.167132DistributionYr1Rt
Adjusted Qlfy Distri Yr2$171,323AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$1,631,120NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.105034DistributionYr2Rt
Adjusted Qlfy Distri Yr3$448,664AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$1,892,633NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.237058DistributionYr3Rt
Adjusted Qlfy Distri Yr4$528,976AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,323,444NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.399697DistributionYr4Rt
Adjusted Qlfy Distri Yr5$213,808AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5$1,487,764NetVlNoncharitableAssetsYr5Amt
Distribution Yr50.143711DistributionYr5Rt
Total Distribution1.052632TotalDistributionRt
Average Distribution0.210526AverageDistributionRt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Net Investment Income Pct$905NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$905AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$213,078QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$905InvestmentIncomeExciseTaxAmt
Subtotal$905SubtotalAmt
Tax Based On Investment Income$905TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$19EsPenaltyAmt
Tax Due$924TaxDueAmt

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 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
Individual With BooksWANG FAMILY FOUNDATIONIndividualWithBooksNm
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
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

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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
FRANCIS SL WANG
3268 VILLA LANENAPACA94558EXEC DIRECTO2.00$0$0$0
LAURA WY YOUNG
3268 VILLA LANENAPACA94558DIRECTOR1.00$0$0$0
MARY WANG
3268 VILLA LANENAPACA94558DIRECTOR0.50$0$0$0
ELIZABETH WANG
3268 VILLA LANENAPACA94558DIRECTOR1.00$0$0$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)
Description1CORNELL LAW SCHOOL. THE FOUNDATION CONTINUED ITS WORK IN ASSISTING PUBLIC EDUCATION SYSTEMS IN DEVELOPING RELATIONSHIPS WITH INTERNATIONAL LAW SCHOOLS. IT HAS SPONSORED A VARIETY OF PROJECTS AT THE LAW SCHOOL, INCLUDING PRESERVATION AND MAINTENANCE OF THE FACILITIES.Description1Txt
Expenses1$50,088Expenses1Amt
Description2INTERNATIONAL ASSOCIATION OF LAW SCHOOLS. THE IALS IS A NON-PROFIT INTERNATIONAL ORGANIZATION OF THE WORLD'S LEADING LAW SCHOOLS, WITH APPROXIMATELY 150 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 ORGANIZAING AND SUPPORTING CONFERENCES ON VARIOUS LEGAL EDUCATIONAL TOPICS.Description2Txt
Expenses2$153,507Expenses2Amt
Description3VARIOUS CHARITABLE ENTITIES DEDICATED TO THE DEVELOPMENT OF SOCIAL AND CIVIL RIGHTS PROGRAMS AROUND THE WORLD.Description3Txt
Expenses3$9,483Expenses3Amt

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$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
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$213,078ExpensesAndContributionsAmt
Qualifying Distributions$213,078QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$905PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$212,173AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$213,078QualifyingDistributionsAmt
Remaining Distri From Corpus$213,078RemainingDistriFromCorpusAmt
Total Corpus$213,078TotalCorpusAmt

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$213,078CurrentYearAmt
Year1$252,945Year1Amt
Year2$171,323Year2Amt
Year3$448,985Year3Amt
Total$1,086,331TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$213,078CurrentYearAmt
Year1$252,945Year1Amt
Year2$171,323Year2Amt
Year3$448,985Year3Amt
Total$1,086,331TotalAmt

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 (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
CORNELL LAW SCHOOL
124 MYRON TAYLOR HALLITHICANY14853NONECHARITABLE PURPOSE$50,088
INTERNATIONAL ASSO OF LAW SCHOOLS
124 MYRON TAYLOR HALLITHICANY14853CHARITABLE PURPOSE$153,507
OTHER GRANTS TO NONRELATED ENTITIES
3268 VILLA LANENAPACA94558CHARITABLE PURPOSE$9,483
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$213,078TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$61,113RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$33,711RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$94,824RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$94,824TotalIncomeProducingActyAmt

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 PREPARATIONCategoryTxt
Amt$1,100Amt
Net Investment Income$1,100NetInvestmentIncomeAmt

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp

FieldValueIRS element (for citing)
EOYFMV$273,800EOYFMVAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockCORP STOCK INVESTMENTStockNm
EOY Book Value$48,627EOYBookValueAmt
EOYFMV$2,053,523EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
OPERATING EXPENSES$548$548

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryOTHER PROFESSIONAL FEESCategoryTxt
Amt$1,800Amt
Net Investment Income$1,800NetInvestmentIncomeAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonLISA WANGPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13268 VILLA LANEAddressLine1Txt
CityNAPACityNm
State AbbreviationCAStateAbbreviationCd
ZIP94558ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTAXESCategoryTxt
Amt$830Amt
Net Investment Income$830NetInvestmentIncomeAmt

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