Civic Intelligence

Wa Sang Foundation

990 • Fiscal year 2015 • EIN 94-3113810

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

PO Box 14027Seattle, WA 98104

(206) 622-2032

Siviq Scores

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

Liabilities / Assets

87th percentile

0.81x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

94th percentile

4.29x

Higher debt load relative to revenue than 94% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

68th percentile

10%

Higher net margin than 68% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

33rd percentile

-2.7%

Faster asset growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

6th percentile

-45%

Faster revenue growth than 6% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$2,510,301

Down $69,033 (-2.7%) from 2014

Net Assets

Down

$477,612

Down $75,872 (-14%) from 2014

Liabilities

Up

$2,032,689

Up $6,839 (+0.3%) from 2014

Revenue

Down

$474,063

Down $390,299 (-45%) from 2014

Expenses

Down

$424,325

Down $3,962 (-0.9%) from 2014

Net Income

Down

$49,738

Down $386,337 (-89%) from 2014

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

2015

Assets$2,510,301
Liabilities$2,032,689
Net Assets$477,612

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

2015

Revenue$474,063
Expenses$424,325
Net Income$49,738
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.0
Gross Receipts
$914,796
Mission and Program Overview

Mission

LOW INCOME HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,763,328$1,766,844▲ $3,516
Land, Buildings, and Equipment, Net$723,575$632,528▼ $91,047
Savings and Temporary Cash Investments$89,411$104,952▲ $15,541
Prepaid Expenses and Deferred Charges-$2,910-
Accounts Receivable-$47-
Cash and Non-Interest-Bearing Accounts-$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-
Total Assets$2,579,334$2,510,301▼ $69,033
Other Assets Total$3,020$3,020→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,011,489$2,011,489→ $0
Other Liabilities$14,032$14,512▲ $480
Accounts Payable and Accrued Expenses$329$6,688▲ $6,359
Total Liabilities$2,025,850$2,032,689▲ $6,839
Net Assets / Fund Balance
Unrestricted Net Assets$553,484$477,612▼ $75,872
Total Net Assets Fund Balance$553,484$477,612▼ $75,872
Total Liabilities and Net Assets / Fund Balance$2,579,334$2,510,301▼ $69,033

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$602,368$1,876,150$2,478,518
Other Land Buildings$30,160$105,234$135,394
Compensation and Service Providers

Board Members and Trustees

NameTitle
Will SpiessPresident
Ling ChinnDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$135,776
Program Service Revenue
$219,593
Investment Income
$115,425
Other Revenue
$3,269
All Other Contributions
$135,776
Change in Net Assets
$49,738

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$135,776
Total Noncash Contributions1$135,776
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$418,737
Salaries, Compensation, and Employee Benefits$5,588
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$135,776--$135,776
Depreciation Depletion$96,127--$96,127
Occupancy$18,432$18,432-$36,864
Fees for Services Management$36,485--$36,485
Fees for Service Investment Mgmnt Fees-$23,725-$23,725
Insurance$14,554--$14,554
Fees for Services Accounting$8,431--$8,431
Payroll Taxes$5,588--$5,588
Other Expenses$2,566--$2,566
Office Expenses$1,239$1,239-$2,478
All Other Expenses$824--$824
Fees for Services Legal$136--$136
Advertising$135--$135
Total Functional Expenses$380,929$43,396$0$424,325
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$36,864

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$14,512
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 14027, SEATTLE, WA 98104

Signing Officer

Name
Ling Chinn
Title
Director
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ling Chinn
Formed
1989
Legal Domicile
Wa
Voting Board Members
2
Independent Board Members
0
Employees
0

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/CurrentTaxYearMinus4YearsAmt0164699
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IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt049642
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt065623
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt041185
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt044448
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0243492
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0242711
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.82570
IRS990ScheduleA/PublicSupportPY170Pct00.83360
IRS990ScheduleA/PublicSupportTotal170Amt01153306
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0135776
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0523433
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0164699
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0164699
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0164699
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01153306
IRS990ScheduleA/TotalSupportAmt01396798
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
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0602368
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01876150
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02478518
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt030160
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0105234
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0135394
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014512
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS DEPOSITS IN TRUST
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0632528
IRS990ScheduleD/TotalLiabilityAmt014512
IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0LING CHINN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt036864
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0LEASE RENT
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IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
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IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0135776
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
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IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt02510301
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IRS990/TotalAssetsGrp/EOYAmt02510301
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0135776
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt043396
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0380929
IRS990/TotalFunctionalExpensesGrp/TotalAmt0424325
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02025850
IRS990/TotalLiabilitiesEOYAmt02032689
IRS990/TotalLiabilitiesGrp/BOYAmt02025850
IRS990/TotalLiabilitiesGrp/EOYAmt02032689
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0553484
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0477612
IRS990/TotalProgramServiceExpensesAmt0380929
IRS990/TotalProgramServiceRevenueAmt0219593
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0338287
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0474063
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02579334
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02510301
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0553484
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0477612
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 14329
IRS990/USAddress/CityNm0SEATTLE
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd098114
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LING CHINN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WA SANG FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WASA
ReturnHeader/Filer/EIN0943113810
ReturnHeader/Filer/PhoneNum02066222032
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 14027
ReturnHeader/Filer/USAddress/CityNm0SEATTLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098104

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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