Civic Intelligence

LI Huasheng Art Foundation

EIN 82-4407587 • 501(c)3 • Shoreline, WA

Profile

Advance ink as a medium and means of expression in the arts and to further the legacy of Li Huasheng as a visual artist through research, authentication, certification, publication, and exhibition.

153 NW Highland DriveShoreline, WA 98177

www.lihuasheng.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

27th percentile

0.08x

Higher debt load relative to revenue than 27% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

40th percentile

1.0%

Higher net margin than 40% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

16th percentile

$37,500

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 72.3% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

34th percentile

0.0%

Faster asset growth than 34% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

4th percentile

-57%

Faster revenue growth than 4% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$19,016,303

Up $1,053 (+0.0%) from 2023

Liabilities

Up

$3,986

Up $512 (+15%) from 2023

Net Assets

Up

$19,012,317

Up $541 (+0.0%) from 2023

Operations
Liabilities / Revenue27th percentileNet Margin40th percentile

Revenue

Down

$51,846

Down $68,724 (-57%) from 2023

Expenses

Up

$51,305

Up $41,991 (+451%) from 2023

Net Income

Down

$541

Down $110,715 (-100%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth34th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2018: $19,447,054Liabilities 2018: $62,238Net Assets 2018: $19,384,8162018Assets 2019: $19,308,335Liabilities 2019: $55,265Net Assets 2019: $19,253,0702019Assets 2020: $19,206,157Liabilities 2020: $19,772Net Assets 2020: $19,186,3852020Assets 2021: $19,162,119Liabilities 2021: $22,098Net Assets 2021: $19,140,0212021Assets 2022: $18,953,219Liabilities 2022: $52,699Net Assets 2022: $18,900,5202022Assets 2023: $19,015,250Liabilities 2023: $3,474Net Assets 2023: $19,011,7762023Assets 2024: $19,016,303Liabilities 2024: $3,986Net Assets 2024: $19,012,3172024

Highlighted filing

2024

Assets$19,016,303
Liabilities$3,986
Net Assets$19,012,317
Open 2024 Filing

Operations Trend

Revenue Growth4th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2018: $19,461,027Expenses 2018: $76,211Net Income 2018: $19,384,8162018Revenue 2019: -$13,004Expenses 2019: $45,602Net Income 2019: -$58,6062019Revenue 2020: $2,635Expenses 2020: $69,320Net Income 2020: -$66,6852020Revenue 2021: -$55Expenses 2021: $46,309Net Income 2021: -$46,3642021Revenue 2022: -$105,372Expenses 2022: $134,129Net Income 2022: -$239,5012022Revenue 2023: $120,570Expenses 2023: $9,314Net Income 2023: $111,2562023Revenue 2024: $51,846Expenses 2024: $51,305Net Income 2024: $5412024

Highlighted filing

2024

Revenue$51,846
Expenses$51,305
Net Income$541
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,016,303
Liabilities
$3,986
Net assets
$19,012,317
Revenue
$51,846
Expenses
$51,305
Net income
$541
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$19.0$0.00$19.0$0.05$0.05$0.00
2023Detailed filing. Detailed filing data is available for this year.$19.0$0.00$19.0$0.12$0.01$0.11
2022Detailed filing. Detailed filing data is available for this year.$19.0$0.05$18.9$0.11$0.13$0.24
2021Detailed filing. Detailed filing data is available for this year.$19.2$0.02$19.1$0.00$0.05$0.05
2020Detailed filing. Detailed filing data is available for this year.$19.2$0.02$19.2$0.00$0.07$0.07
2019Summary only. Only limited summary data is available for this year.$19.3$0.06$19.3$0.01$0.05$0.06
2018Summary only. Only limited summary data is available for this year.$19.4$0.06$19.4$19.5$0.08$19.4
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$231,087
Mission and Program Overview

Mission

Advance ink as a medium and means of expression in the arts and to further the legacy of Li Huasheng as a visual artist through research, authentication, certification, publication, and exhibition.

Collection of more than 2000 artworks Activities include academic publication authoring and scholarly research

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$440,157$546,900▲ $106,743
Savings and Temporary Cash Investments$351,501$300,779▼ $50,722
Prepaid Expenses and Deferred Charges$1,396$1,431▲ $35
Pledges and Grants Receivable-$247-
Total Assets$19,015,250$19,016,303▲ $1,053
Other Assets Total$18,222,196$18,166,946▼ $55,250
Liabilities
Accounts Payable and Accrued Expenses$3,474$3,986▲ $512
Total Liabilities$3,474$3,986▲ $512
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,011,776$19,012,317▲ $541
Total Net Assets Fund Balance$19,011,776$19,012,317▲ $541
Total Liabilities and Net Assets / Fund Balance$19,015,250$19,016,303▲ $1,053

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$17,042,251--
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Britta Erickson PhdDirectorPT$37,500$37,500
Donald a LeitzTreasurer-$1,662$1,662

Board Members and Trustees

NameTitle
Craig L YeePresident
Alan YeungDirector
Chongbin ZhengDirector
Richard Fabian ReverendDirector
Stephen Little PhdDirector
Susanna FerrellDirector
Wei XiongDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$267
Program Service Revenue
$0
Investment Income
$51,579
Other Revenue
$0
All Other Contributions
$267
Change in Net Assets
$541
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$40,745
Other Expenses$10,560
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$37,500--$37,500
Payroll Taxes$3,245--$3,245
Information Technology$2,936$298-$3,234
Insurance-$1,526-$1,526
Fees for Services Other-$1,310-$1,310
Fees for Services Accounting-$1,067-$1,067
Fees for Services Management-$980-$980
Office Expenses-$704-$704
Other Expenses$269$496-$269
Total Functional Expenses$44,924$6,381$0$51,305
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Ink Studio LLCGreater than 35%Commissions payableYes$90,124
China Fine Art Hk Ltdownership by boardCommissions payableYes$33,867
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 2

“Donald Leitz and Craig Yee have a family relationship.”

Part VI Line 2

“Britta Erickson and Susanna Ferrell have a family relationship.”

Part VI Line 11B

“Form 990 is provided to directors prior to filing.”

Part VI Line 12C

“Officers monitor and enforce adherence to the conflict of interest policy”

Part VI Line 12C

“and review potential conflicts on an ongoing basis.”

Part VI Line 15A or B

“Treasurer: survey performed 2018 and compensation has not increased”

Part VI Line 15A or B

“Program Director: survey performed 2024”

Part VI Line 19

“Documents are available upon request to an officer or director”

Part VI Line 2

“Britta Erickson, Donald Leitz, and Craig Yee have a business relationship.”

Filing and Contact Details

Filer

Filer Name
Li Huasheng Art Foundation
EIN
82-4407587
In Care Of
% Craig Yee
Phone
2069796420
Address
153 NW HIGHLAND DRIVE, SHORELINE, WA 98177

Signing Officer

Name
Craig Yee
Title
President
Phone
4155336420
Signed
2025-11-17

Organization Details

Principal Officer
Craig L Yee
Formed
2018
Legal Domicile
Wa
Voting Board Members
7
Independent Board Members
5
Employees
1
Volunteers
7
Supplemental Narrative

Additional Explanations

Part III Line 2

“Commission a definitive biography of the artist Li Huasheng”

Financial Statement Notes

Part III, Line 4-Description organization'S collections

“Li Huasheng Art Foundations collection of more than 2,000 Li Huasheng artworksis the worlds largest and most comprehensive repository of the artistsworks. The collection supports the foundations mission through publicexhibitions, artwork loans to museums and academic institutions, and throughits open accessibility to all scholars with a research interest in Li Huasheng,in contemporary ink art, or contemporary art, more generally.”

Raw XML Appendix390 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt093
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt018
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt042
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt067
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0306
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.59240
IRS990ScheduleA/PublicSupportPY170Pct00.46980
IRS990ScheduleA/PublicSupportTotal170Amt0622
IRS990ScheduleA/SubstantialContributorsTotAmt0122
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0267
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0377
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt040
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt060
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0744
IRS990ScheduleA/TotalSupportAmt01050
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ArtPublicExhibitionAmountsGrp/AssetsIncludedAmt01124695
IRS990ScheduleD/CollectionUsedPreservationInd0X
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CollUsedLoanOrExchProgInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/HeldWorksArtGrp/AssetsIncludedAmt017042251
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01124695
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt117042251
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Permanent Art Collection
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Available Art Collection
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Li Huasheng Art Foundations collection of more than 2,000 Li Huasheng artworksis the worlds largest and most comprehensive repository of the artistsworks. The collection supports the foundations mission through publicexhibitions, artwork loans to museums and academic institutions, and throughits open accessibility to all scholars with a research interest in Li Huasheng,in contemporary ink art, or contemporary art, more generally.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Line 4-Description organization's collections
IRS990ScheduleD/TotalBookValueOtherAssetsAmt018166946
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0INK STUDIO LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1CHINA FINE ART HK LTD
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Greater than 35%
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1ownership by board
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2members and officers
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3Greater than 35%
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4ownership by board
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt5members and officers
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt090124
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt133867
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Commissions payable
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Commissions payable
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Commission a definitive biography of the artist Li Huasheng
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Donald Leitz and Craig Yee have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Britta Erickson and Susanna Ferrell have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 is provided to directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Officers monitor and enforce adherence to the conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5and review potential conflicts on an ongoing basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Treasurer: survey performed 2018 and compensation has not increased
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Program Director: survey performed 2024
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Documents are available upon request to an officer or director
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Britta Erickson, Donald Leitz, and Craig Yee have a business relationship.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part VI Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Part VI Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Part VI Line 15a or b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Part VI Line 15a or b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Part VI Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Part VI Line 2
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0true
IRS990/StatesWhereCopyOfReturnIsFldCd0WA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt019015250
IRS990/TotalAssetsEOYAmt019016303
IRS990/TotalAssetsGrp/BOYAmt019015250
IRS990/TotalAssetsGrp/EOYAmt019016303
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0267
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06381
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt044924
IRS990/TotalFunctionalExpensesGrp/TotalAmt051305
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03474
IRS990/TotalLiabilitiesEOYAmt03986
IRS990/TotalLiabilitiesGrp/BOYAmt03474
IRS990/TotalLiabilitiesGrp/EOYAmt03986
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019011776
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt019012317
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt044924
IRS990/TotalReportableCompFromOrgAmt039162
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt086
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt051846
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt019015250
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019016303
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01037 NE 65th Street Ste 82943
IRS990/USAddress/CityNm0Seattle
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd098115
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.lihuasheng.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CRAIG YEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum04155336420
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LI HUASHENG ART FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0LIHU
ReturnHeader/Filer/EIN0824407587
ReturnHeader/Filer/InCareOfNm0% Craig Yee
ReturnHeader/Filer/PhoneNum02069796420
ReturnHeader/Filer/USAddress/AddressLine1Txt0153 NW HIGHLAND DRIVE
ReturnHeader/Filer/USAddress/CityNm0SHORELINE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098177
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/ReturnTs02025-11-17T12:52:12-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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