Civic Intelligence

Wa Sang Foundation

990 • Fiscal year 2017 • EIN 94-3113810

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 08, 2018

657 South King Street Apt 209Seattle, 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

0.73x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

95th percentile

4.76x

Higher debt load relative to revenue than 95% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

26th percentile

-5.9%

Higher net margin than 26% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

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.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

64th percentile

8.2%

Faster asset growth than 64% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

17th percentile

-14%

Faster revenue growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$2,768,815

Up $209,706 (+8.2%) from 2016

Net Assets

Up

$734,569

Up $206,398 (+39%) from 2016

Liabilities

Up

$2,034,246

Up $3,308 (+0.2%) from 2016

Revenue

Down

$427,449

Down $69,431 (-14%) from 2016

Expenses

Up

$452,739

Up $6,213 (+1.4%) from 2016

Net Income

Down

-$25,290

Down $75,644 (-150%) from 2016

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

2017

Assets$2,768,815
Liabilities$2,034,246
Net Assets$734,569

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

2017

Revenue$427,449
Expenses$452,739
Net Income-$25,290
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 8, 2018
Return Version
2017v2.2
Gross Receipts
$511,788
Mission and Program Overview

Mission

LOW INCOME HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,879,638$2,063,903▲ $184,265
Land, Buildings, and Equipment, Net$567,283$600,062▲ $32,779
Savings and Temporary Cash Investments$99,066$96,688▼ $2,378
Prepaid Expenses and Deferred Charges$10,025$3,236▼ $6,789
Accounts Receivable$77$1,906▲ $1,829
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$2,559,109$2,768,815▲ $209,706
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$14,708$15,851▲ $1,143
Accounts Payable and Accrued Expenses$4,741$6,906▲ $2,165
Total Liabilities$2,030,938$2,034,246▲ $3,308
Net Assets / Fund Balance
Unrestricted Net Assets$528,171$734,569▲ $206,398
Total Net Assets Fund Balance$528,171$734,569▲ $206,398
Total Liabilities and Net Assets / Fund Balance$2,559,109$2,768,815▲ $209,706

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$422,110$2,056,408$2,478,518
Other Land Buildings$177,952$119,215$297,167
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
$238,798
Investment Income
$47,417
Other Revenue
$5,458
All Other Contributions
$135,776
Change in Net Assets
$-25,290

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$444,204
Salaries, Compensation, and Employee Benefits$8,535
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$97,885--$97,885
Fees for Services Management$42,165--$42,165
Occupancy$18,000$18,000-$36,000
Insurance$22,320--$22,320
Fees for Service Investment Mgmnt Fees-$16,840-$16,840
Fees for Services Accounting$6,916--$6,916
Payroll Taxes$5,561--$5,561
Other Expenses$5,043--$5,043
All Other Expenses$4,392--$4,392
Office Expenses$2,062$2,062-$4,124
Other Employee Benefits$2,974--$2,974
Advertising$750--$750
Fees for Services Legal$50--$50
Total Functional Expenses$415,837$36,902$0$452,739
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$36,000

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$15,851
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
657 SOUTH KING STREET APT 209, SEATTLE, WA 98114

Signing Officer

Name
Ling Chinn
Title
Director
Signed
2018-11-08
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
Raw XML AppendixShowing 400 of 405 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/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0135776
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0523433
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0164699
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01095460
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt042354
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt051315
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt049642
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt065623
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt042594
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0251528
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.81330
IRS990ScheduleA/PublicSupportPY170Pct00.81790
IRS990ScheduleA/PublicSupportTotal170Amt01095460
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0135776
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0135776
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0135776
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0523433
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0164699
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01095460
IRS990ScheduleA/TotalSupportAmt01346988
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0422110
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02056408
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02478518
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0177952
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0119215
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0297167
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015851
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS DEPOSITS IN TRUST
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0600062
IRS990ScheduleD/TotalLiabilityAmt015851
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0GIN HOLDINGS LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0LING CHINN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt036000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0LEASE RENT
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SCHEDULE L, PART V - ADDITIONAL INFORMATIONSCHEDULE L, PART IV, BUSINESS TRANSACTION INVOLVING INTERESTED PERSONS:A) NAME OF PERSON: GIN HOLDINGS, LLCB) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: OWNED BY LING CHINN, DIRECTORC) AMOUNT OF TRANSACTION: $36,000D) DESCRIPTION OF TRANSACTION: LEASE RENT PAID FROM WA SANG FOUNDATION TO GIN HOLDINGS FOR USE OF REX BUILDING'S RESIDENTIAL UNITS.E) SHARING OF ORGANIZATION REVENUES?: NO
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02559109
IRS990/TotalAssetsEOYAmt02768815
IRS990/TotalAssetsGrp/BOYAmt02559109
IRS990/TotalAssetsGrp/EOYAmt02768815
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0135776
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036902
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0415837
IRS990/TotalFunctionalExpensesGrp/TotalAmt0452739
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02030938
IRS990/TotalLiabilitiesEOYAmt02034246
IRS990/TotalLiabilitiesGrp/BOYAmt02030938
IRS990/TotalLiabilitiesGrp/EOYAmt02034246
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0528171
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0734569
IRS990/TotalProgramServiceExpensesAmt0415837
IRS990/TotalProgramServiceRevenueAmt0238798
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0291673
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0427449
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02559109
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02768815
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0528171
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0734569
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0657 S KING ST 209
IRS990/USAddress/CityNm0SEATTLE
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd098114
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LING CHINN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WA SANG FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WASA
ReturnHeader/Filer/EIN0943113810
ReturnHeader/Filer/PhoneNum02066222032
ReturnHeader/Filer/USAddress/AddressLine1Txt0657 SOUTH KING STREET APT 209
ReturnHeader/Filer/USAddress/CityNm0SEATTLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098114
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0911274993
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Jeffrey M Wilson PS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt015215 52nd Ave S 9
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tukwila
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd098188
ReturnHeader/PreparerPersonGrp/PhoneNum02062822727
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY M WILSON

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