Leon & Grace Foundation in Cupertino, California (CA)

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Leon & Grace Foundation
Employer Identification Number (EIN)453954780
Name of OrganizationLeon & Grace Foundation
In Care of NameLixin Chen
Address10168 Amelia Ct, Cupertino, CA 95014-1066
SubsectionCharitable Organization
Ruling Date04/2012
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period10/2013
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$1,123,532
Amount of Income$791,960
Form 990 Revenue Amount$473,120
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Emergency Assistance (Food, Clothing, Cash)


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Amount of income in 2013: $791,960 (it was $516,245 in 2012)
Leon & Grace Foundation: 

 $791,960
Other organizations performing similar types of work: 

 $61,953

Assets in 2013: $1,123,532 (it was $391,633 in 2012)
Leon & Grace Foundation: 

 $1,123,532
Other organizations performing similar types of work: 

 $34,253

Expenses in 2013: $59,516
Leon & Grace Foundation: 

 $59,516
Other organizations performing similar types of work: 

 $53,058

Income to expenses ratio in 2013: 13.3
Leon & Grace Foundation: 

 13.3
Other organizations performing similar types of work: 

 0.9

Grants share in income in 2013: 85.6%
Leon & Grace Foundation: 

 85.6%
Other organizations performing similar types of work: 

 8.9%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$791,960$113,960$98,597
Contributions, gifts, grants, etc., received$678,000
Interest on savings and temporary cash investments$0
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$113,960
Gross profit from sales of goods$0
Other income$0
Other$113,960
Total expenses and disbursements$59,516$244$244$59,272
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$2,500
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$365
Printing and publications$0
Total operating and administrative expenses$59,516$244$59,272
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$732,444
Net investment income$113,716
Adjusted net income$98,353
Balance Sheets
20122013
Book ValueFair Market ValueBook ValueFair Market Value
Total assets$391,633$416,769$1,123,532$1,123,532
Cash - non-interest-bearing$0$0
Investments-U.S. and state government obligations$0$0
Investments-corporate stock$0$0
Investments-corporate bonds$0$0
Investments-mortgage loans$0$0
Investments-other$285,434$1,029,392
Other assets$0$0
Total liabilities$545$0
Total liabilities and net assets/fund balances$391,088$1,123,532
Capital Gains and Losses for Tax on Investment Income
20122013
Capital gain net income$12,193$113,960
Net capital loss$0$0
Excise Tax Based on Investment Income
20122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNo
Tax based on investment income$244$2,274
Total credits and payments$244$0
Any penalty for underpayment of estimated tax$0$108
Tax due$0$2,382
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0
Statements Regarding Activities
20122013
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?YesYes
Did any persons become substantial contributors during the tax year?YesYes
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
20122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNo
Agree to pay money or property to a government official?NoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
20122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$300,222$750,515
Net value of noncharitable-use assets$295,719$739,257
Minimum investment return$14,463$36,963
Distributable Amount
20122013
Distributable amount$0$0
Undistributed Income
20122013
Distributable amount for this year$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$36,963$12,195$0$0$49,158
Qualifying distributions made directly for active conduct of exempt activities$59,272$81,532$0$0$140,804
Value of all assets$1$0$0$0$1
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$24,642$9,642$0$0$34,284
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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IdNameAddressStateEstablishedTotal Income
1Weaverland Financial Aid1601 Lincoln Rd, Lititz, PA 17543-9161PA2004-06$3,271,147
2Richmond Outreach Center IncPO BOX 6415, Richmond, VA 23230-0415VA2001-03$2,412,691
3South Central Los Angeles Ministry Project Inc892 E 48th St, Los Angeles, CA 90011-5451CA1996-10$1,061,418
4Miracle Babies501 W Broadway Ste 510, San Diego, CA 92101-8595CA2010-02$903,978
5Three Angels Childrens Relief Incorporated25867 The Old Road 285, Stevenson Ranch, CA 91381CA2003-10$806,314
6Loved Twice5245 College Ave Suite 803, Oakland, CA 94618CA2009-02$794,819
7Leon & Grace Foundation10168 Amelia Ct, Cupertino, CA 95014-1066CA2012-04$791,960
8Farmers Family Fund6303 Owensmouth Avenue, Woodland Hills, CA 91367-2264CA2012-01$695,286
9Northern California Compassion Network3295 School St, Oakland, CA 94602-3638CA2011-09$590,968
10Sheriffs Employee Assistance Team Inc655 E 3rd St, Sn Bernrdno, CA 92415-1017CA2008-09$572,584
11Three Angels Childrens Relief25876 The Old Rd, Stevenson Rnh, CA 91381-1711CA2003-10$498,364
12Dont Give Up3841 Fig Street, Sacramento, CA 95838CA2005-04$472,636
13Well In The Desert555 N Commercial Rd Ste 10, Palm Springs, CA 92262-6213CA1996-08$402,636
14Connecting Mental Health & Education Inc901 N Pacific Coast Hwy Ste 200a, Redondo Beach, CA 90277-7702CA2010-06$300,485
1524 Hour Fitness Helping Hands Foundation12647 Alcosta Blvd Suite 500, San Ramon, CA 94583CA2012-02$246,438
16Active Auctioneers Foundation4022 Calle Marlena, San Clemente, CA 92672-4514CA2011-05$216,738
17Hands 4 Others33 West Mission Street Ste 201, Santa Barbara, CA 93101CA2009-05$207,497
18Foundation For The Least Last & Lost Of Visalia Inc, The Warehouse Visalia319 W Murray Ave, Visalia, CA 93291-4936CA2012-11$197,857
19Siempre Para Los Ninos5623 Arlington Ave, Riverside, CA 92504-2032CA2004-12$196,654
20Mitchell Thorp Foundation6965 El Camino Real Suite 105-433, Carlsbad, CA 92009-4100CA2010-06$195,532
Number of organizations performing similar types of work
Alaska10
Alabama99
Arkansas42
Arizona94
California548
Colorado123
Connecticut43
District of Columbia19
Delaware18
Florida403
Georgia235
Hawaii18
Iowa42
Idaho33
Illinois171
Indiana107
Kansas46
Kentucky85
Louisiana99
Massachusetts106
Maryland105
Maine24
Michigan175
Minnesota72
Missouri119
Mississippi45
Montana17
North Carolina177
North Dakota7
Nebraska13
New Hampshire28
New Jersey145
New Mexico33
Nevada42
New York272
Ohio191
Oklahoma52
Oregon64
Pennsylvania154
Rhode Island16
South Carolina63
South Dakota10
Tennessee121
Texas431
Utah39
Virginia135
Vermont16
Washington98
Wisconsin71
West Virginia29
Wyoming17
International5
Total5,127

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