Formosa Foundation in Rosemead, California (CA)

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Formosa Foundation
Employer Identification Number (EIN)912148124
Name of OrganizationFormosa Foundation
In Care of NameTerri Giles
Address3015 Walnut Grove Ave Ste A, Rosemead, CA 91770-2790
SubsectionEducational Organization
Ruling Date01/2002
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$85,071
Amount of Income$127,672
Form 990 Revenue Amount$74,949
National Taxonomy of Exempt Entities (NTEE)International, Foreign Affairs and National Security: International Peace and Security

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Amount of income in 2013: $127,672 (it was $261,753 in 2012)
This organization: 

Other organizations performing similar types of work: 


Assets in 2013: $85,071 (it was $193,347 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2013: $183,110
This organization: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 0.7
Formosa Foundation: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 97.8%
Formosa Foundation: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$104,786$74,949
Contributions, gifts, grants, and similar amounts received$103,477$73,275
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Investment income$7,792$3,002
Gain/Loss from sale of assets other than inventory$-6,483$-1,328
Gross amount from sale of assets other than inventory$174$51,395
Less: cost or other basis and sales expenses$6,657$52,723
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0
Other revenue$0$0
Total expenses$272,897$183,110
Total net assets$257,981$85,071
Excess/Deficit for the year$-168,111$-108,161
Net assets or fund balances at beginning of year$426,092$193,232
Other changes in net assets or fund balances$0$0
Net assets or fund balances at end of year$85,071
Balance Sheets
Total assets$261,095$193,347$85,071
Total liabilities$3,114$115$0
Net assets or fund balances$257,981$85,071
Other Information
Did the organization engage in any significant activity not previously reported to the IRS?No
Were any significant changes made to the organizing or governing documents?No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?No
Amount of political expenditures, direct or indirect$0
Did the organization file Form 1120-POL for this year?No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?No
Total amount involved$0
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$725,827
Subtotal Support$725,827
Gifts, grants, contributions, and membership fees received$725,827
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$770,788
Public Support$725,827
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$46,289
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$-1,328
Gross receipts from related activities, etc.$0
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Number of organizations performing similar types of work
District of Columbia43
North Carolina5
New Hampshire1
New Jersey6
New Mexico3
New York53
Rhode Island3
South Carolina1
West Virginia1
Total363 is not associated with, endorsed by, or sponsored by Formosa Foundation and has no official or unofficial affiliation with Formosa Foundation