Civic Intelligence

Wa Sang Foundation

990 • Fiscal year 2014 • EIN 94-3113810

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 16, 2015

PO Box 14329Seattle, WA 98114

(206) 622-2032

Siviq Scores

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

Liabilities / Assets

87th percentile

0.79x

Higher debt load relative to assets than 87% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

90th percentile

2.34x

Higher debt load relative to revenue than 90% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

92nd percentile

50%

Higher net margin than 92% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

35th percentile

$3,000

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

59th percentile

4.9%

Faster asset growth than 59% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

89th percentile

57%

Faster revenue growth than 89% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$2,579,334

Up $120,338 (+4.9%) from 2013

Net Assets

Up

$553,484

Up $494,510 (+839%) from 2013

Liabilities

Down

$2,025,850

Down $374,172 (-16%) from 2013

Revenue

Up

$864,362

Up $313,265 (+57%) from 2013

Expenses

Down

$428,287

Down $6,132 (-1.4%) from 2013

Net Income

Up

$436,075

Up $319,397 (+274%) from 2013

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $2,195,730Liabilities 2011: $2,398,068Net Assets 2011: -$202,3382011Assets 2012: $2,246,001Liabilities 2012: $2,399,233Net Assets 2012: -$153,2322012Assets 2013: $2,458,996Liabilities 2013: $2,400,022Net Assets 2013: $58,9742013Assets 2014: $2,579,334Liabilities 2014: $2,025,850Net Assets 2014: $553,4842014Assets 2015: $2,510,301Liabilities 2015: $2,032,689Net Assets 2015: $477,6122015Assets 2016: $2,559,109Liabilities 2016: $2,030,938Net Assets 2016: $528,1712016Assets 2017: $2,768,815Liabilities 2017: $2,034,246Net Assets 2017: $734,5692017Assets 2018: $2,689,189Liabilities 2018: $2,036,230Net Assets 2018: $652,9592018Assets 2019: $2,952,161Liabilities 2019: $2,033,137Net Assets 2019: $919,0242019Assets 2020: $3,352,775Liabilities 2020: $2,188,728Net Assets 2020: $1,164,0472020Assets 2021: $3,494,140Liabilities 2021: $2,234,500Net Assets 2021: $1,259,6402021Assets 2022: $2,965,328Liabilities 2022: $2,183,053Net Assets 2022: $782,2752022Assets 2023: $3,263,332Liabilities 2023: $2,187,084Net Assets 2023: $1,076,2482023Assets 2024: $3,526,209Liabilities 2024: $2,183,784Net Assets 2024: $1,342,4252024

Highlighted filing

2014

Assets$2,579,334
Liabilities$2,025,850
Net Assets$553,484

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $242,3532011Revenue 2012: $405,220Expenses 2012: $418,694Net Income 2012: -$13,4742012Revenue 2013: $551,097Expenses 2013: $434,419Net Income 2013: $116,6782013Revenue 2014: $864,362Expenses 2014: $428,287Net Income 2014: $436,0752014Revenue 2015: $474,063Expenses 2015: $424,325Net Income 2015: $49,7382015Revenue 2016: $496,880Expenses 2016: $446,526Net Income 2016: $50,3542016Revenue 2017: $427,449Expenses 2017: $452,739Net Income 2017: -$25,2902017Revenue 2018: $862,130Expenses 2018: $476,110Net Income 2018: $386,0202018Revenue 2019: $568,977Expenses 2019: $516,488Net Income 2019: $52,4892019Revenue 2020: $438,710Expenses 2020: $529,857Net Income 2020: -$91,1472020Revenue 2021: $620,068Expenses 2021: $595,017Net Income 2021: $25,0512021Revenue 2022: $705,432Expenses 2022: $494,917Net Income 2022: $210,5152022Revenue 2023: $501,476Expenses 2023: $486,150Net Income 2023: $15,3262023Revenue 2024: $742,796Expenses 2024: $613,848Net Income 2024: $128,9482024

Highlighted filing

2014

Revenue$864,362
Expenses$428,287
Net Income$436,075
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$1,386,090
Mission and Program Overview

Mission

LOW INCOME HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,551,712$1,763,328▲ $211,616
Land, Buildings, and Equipment, Net$814,383$723,575▼ $90,808
Savings and Temporary Cash Investments$89,881$89,411▼ $470
Cash and Non-Interest-Bearing Accounts-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,458,996$2,579,334▲ $120,338
Other Assets Total$3,020$3,020→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,384,684$2,011,489▼ $373,195
Other Liabilities$14,686$14,032▼ $654
Accounts Payable and Accrued Expenses$652$329▼ $323
Total Liabilities$2,400,022$2,025,850▼ $374,172
Net Assets / Fund Balance
Unrestricted Net Assets$58,974$553,484▲ $494,510
Total Net Assets Fund Balance$58,974$553,484▲ $494,510
Total Liabilities and Net Assets / Fund Balance$2,458,996$2,579,334▲ $120,338

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$692,497$1,786,021$2,478,518
Other Land Buildings$31,078$99,236$130,314
Compensation and Service Providers

Employees

NameTitleBaseTotal
Ling ChinnDirector$3,000$3,000

Board Members and Trustees

NameTitle
Will SpiessPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$523,433
Program Service Revenue
$207,390
Investment Income
$129,772
Other Revenue
$3,767
All Other Contributions
$523,433
Change in Net Assets
$436,075

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$373,195
Other Non Cash Contri Table1$135,776
Other Non Cash Contri Table1$14,462
Total Noncash Contributions3$523,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$414,252
Salaries, Compensation, and Employee Benefits$14,035
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$150,238--$150,238
Depreciation Depletion$94,818--$94,818
Fees for Services Management$40,294--$40,294
Occupancy$11,247$11,247-$22,494
Fees for Service Investment Mgmnt Fees-$18,591-$18,591
Insurance$15,640--$15,640
Other Salaries and Wages$8,000--$8,000
Office Expenses$2,095$2,094-$4,189
Payroll Taxes$3,035--$3,035
Current Officers, Directors, Trustees, and Key Employees$3,000--$3,000
Other Expenses$2,558--$2,558
Fees for Services Accounting$1,084--$1,084
Advertising$822--$822
All Other Expenses$565--$565
Fees for Services Legal$345--$345
Total Functional Expenses$396,355$31,932$0$428,287
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
Gin Holdings LLCLing ChinnLease RentNo$12,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenants Deposits in Trust$13,879
Payroll Liabilities$153
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
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

Related party information among officers -ling chinn: mother-in-law of will spiesswill spiess: son-in-law of ling chinn

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

Organization's process to review form 990 - a copy of form 990 is provided to the president for review prior to signing.

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

Governing documents disclosure explanation -the document can be obtained upon request

Filing and Contact Details

Filer

Filer Name
Wa Sang Foundation
EIN
94-3113810
Phone
2066222032
Address
PO BOX 14329, SEATTLE, WA 98114

Signing Officer

Name
Ling Chinn
Title
Director
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Formed
1989
Legal Domicile
Wa
Voting Board Members
2
Independent Board Members
0
Employees
2

Preparer

Firm
Jeffrey M Wilson PS
Address
15215 52nd Ave S 9, Tukwila, WA 98188
Preparer
Jeffrey M Wilson
Phone
2062822727
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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/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0164699
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0164699
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0165064
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01182594
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt044448
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt042279
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0242711
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IRS990ScheduleA/PublicSupportPY170Pct00.79940
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0165064
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01182594
IRS990ScheduleA/TotalSupportAmt01418723
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0692497
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01786021
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02478518
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt031078
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt099236
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0130314
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0153
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt113879
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANTS DEPOSITS IN TRUST
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IRS990ScheduleD/TotalLiabilityAmt014032
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0LING CHINN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt012000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0LEASE RENT
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IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
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IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt11
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt21
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IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt114462
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt2373195
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RELATED PARTY INFORMATION AMONG OFFICERS -LING CHINN: MOTHER-IN-LAW OF WILL SPIESSWILL SPIESS: SON-IN-LAW OF LING CHINN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION'S PROCESS TO REVIEW FORM 990 - A COPY OF FORM 990 IS PROVIDED TO THE PRESIDENT FOR REVIEW PRIOR TO SIGNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS DISCLOSURE EXPLANATION -THE DOCUMENT CAN BE OBTAINED UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt02579334
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0523433
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031932
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0396355
IRS990/TotalFunctionalExpensesGrp/TotalAmt0428287
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02400022
IRS990/TotalLiabilitiesEOYAmt02025850
IRS990/TotalLiabilitiesGrp/BOYAmt02400022
IRS990/TotalLiabilitiesGrp/EOYAmt02025850
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt058974
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0553484
IRS990/TotalProgramServiceExpensesAmt0396355
IRS990/TotalProgramServiceRevenueAmt0207390
IRS990/TotalReportableCompFromOrgAmt03000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0340929
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0864362
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02458996
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02579334
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt058974
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0553484
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LING CHINN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WA SANG FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WASA
ReturnHeader/Filer/EIN0943113810
ReturnHeader/Filer/PhoneNum02066222032

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.53$2.18$1.34$0.74$0.61$0.13
2023Detailed filing. Detailed filing data is available for this year.$3.26$2.19$1.08$0.50$0.49$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.97$2.18$0.78$0.71$0.49$0.21
2021Detailed filing. Detailed filing data is available for this year.$3.49$2.23$1.26$0.62$0.60$0.03
2020Detailed filing. Detailed filing data is available for this year.$3.35$2.19$1.16$0.44$0.53$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.95$2.03$0.92$0.57$0.52$0.05
2018Detailed filing. Detailed filing data is available for this year.$2.69$2.04$0.65$0.86$0.48$0.39
2017Detailed filing. Detailed filing data is available for this year.$2.77$2.03$0.73$0.43$0.45$0.03
2016Detailed filing. Detailed filing data is available for this year.$2.56$2.03$0.53$0.50$0.45$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.51$2.03$0.48$0.47$0.42$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.58$2.03$0.55$0.86$0.43$0.44
2013Summary only. Only limited summary data is available for this year.$2.46$2.40$0.06$0.55$0.43$0.12
2012Summary only. Only limited summary data is available for this year.$2.25$2.40$0.15$0.41$0.42$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.20$2.40$0.20$0.24