Civic Intelligence

Laaunch Foundation

990 • Fiscal year 2021 • EIN 86-1979984

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization Profilewww.laaunch.org
3130 Alpine Rd Ste 288 Pmb 480Portola Vally, CA 94028

(650) 362-4076

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

41st percentile

0.01x

Higher debt load relative to assets than 41% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

37th percentile

0.01x

Higher debt load relative to revenue than 37% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

93rd percentile

69%

Higher net margin than 93% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets41st percentile

Assets

$457,464

No earlier filing loaded for comparison.

Net Assets

$454,107

No earlier filing loaded for comparison.

Liabilities

$3,357

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin93rd percentile

Revenue

$655,632

No earlier filing loaded for comparison.

Expenses

$201,525

No earlier filing loaded for comparison.

Net Income

$454,107

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2021: $457,464Liabilities 2021: $3,357Net Assets 2021: $454,1072021Assets 2022: $229,299Liabilities 2022: $0Net Assets 2022: $229,2992022Assets 2023: $245,718Liabilities 2023: $0Net Assets 2023: $245,7182023Assets 2024: $0Net Assets 2024: $02024

Highlighted filing

2021

Assets$457,464
Liabilities$3,357
Net Assets$454,107
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2021: $655,632Expenses 2021: $201,525Net Income 2021: $454,1072021Revenue 2022: $45,375Expenses 2022: $270,183Net Income 2022: -$224,8082022Revenue 2023: $34,348Expenses 2023: $17,929Net Income 2023: $16,4192023Revenue 2024: $61,612Expenses 2024: $23,071Net Income 2024: $38,5412024

Highlighted filing

2021

Revenue$655,632
Expenses$201,525
Net Income$454,107
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$655,632
Mission and Program Overview

Mission

Laaunch foundation is a non-profit organization working to end racism and increase representation for asian-americans by developing innovative programs that support, advocate, and elevate the asian-american community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$455,806-
Prepaid Expenses and Deferred Charges-$1,658-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$0$457,464▲ $457,464
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$3,357-
Total Liabilities$0$3,357▲ $3,357
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$454,107-
Total Net Assets Fund Balance$0$454,107▲ $454,107
Total Liabilities and Net Assets / Fund Balance$0$457,464▲ $457,464
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Norman ChenCEO/director
Edward KingCFO/director
Eric TodaDirector
Richard TingDirector
Wah ChenDirector
David TingSecretary/Director
Revenue and Support

Revenue Composition

Contributions and Grants
$655,632
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$655,632
Change in Net Assets
$454,107
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$201,525
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$166,207$4,657-$170,864
Fees for Services Accounting-$6,648-$6,648
Fees for Services Legal-$1,615-$1,615
Advertising-$1,347-$1,347
Other Expenses$1,300$990-$990
Insurance-$870-$870
Total Functional Expenses$167,507$34,018$0$201,525
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“David ting and richard ting are cousins.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Financial statement information which had been incorporated in the Form 990 were reviewed and approved by the board of directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The government docs, policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
LAAUNCH Foundation
EIN
86-1979984
Phone
6503624076
Address
3130 ALPINE RD STE 288 PMB 480, PORTOLA VALLY, CA 94028

Signing Officer

Name
Norman Chen
Title
CEO/director
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
2021
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Fong Ko & Associates Llp
Address
1510 FASHION ISLAND BLVD STE 200, SAN MATEO, CA 94404
Preparer
Oliver Laiming Ko
Phone
6502869966
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0454107
IRS990/TotalProgramServiceExpensesAmt0167507
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0655632
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IRS990/VotingMembersGoverningBodyCnt06
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NORMAN CHEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO/DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAAUNCH Foundation
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ReturnHeader/Filer/PhoneNum06503624076
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094404
ReturnHeader/PreparerPersonGrp/PhoneNum06502869966
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Oliver Laiming Ko
ReturnHeader/ReturnTs02022-11-14T16:59:37-08:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$457,464
Liabilities
$3,357
Net assets
$454,107
Revenue
$655,632
Expenses
$201,525
Net income
$454,107
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.62$0.23$0.39
2023Detailed filing. Detailed filing data is available for this year.$2.46$0.00$2.46$0.34$0.18$0.16
2022Detailed filing. Detailed filing data is available for this year.$2.29$0.00$2.29$0.45$2.70$2.25
2021Detailed filing. Detailed filing data is available for this year.$4.57$0.03$4.54$6.56$2.02$4.54