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Gong Family Foundation is a private corporation based in NORTH SALEM, NY. The foundation received its IRS ruling in 2021. It holds total assets of $27.7M. Annual income is reported at $30.2M. Total assets have grown from $4M in 2020 to $5.1M in 2023. The foundation is governed by 2 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. According to available records, Gong Family Foundation has made 10 grants totaling $4.2M, with a median grant of $50K. Annual giving has grown from $1M in 2021 to $3.2M in 2022. Individual grants have ranged from $25K to $1M, with an average award of $423K. The foundation has supported 4 unique organizations. The foundation primarily supports organizations in New Jersey, Massachusetts, District of Columbia, which account for 70% of all grants. Grantmaking reaches organizations across 4 states. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Gong Family Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 10 grants. Its grantmaking reaches organizations primarily in NJ, MA, DC.
Gong Family Foundation has distributed a total of $4.2M across 10 grants. The median grant size is $50K, with an average of $423K. Individual grants have ranged from $25K to $1M.
Gong Family Foundation typically selects its grantees rather than accepting unsolicited proposals.
Gong Family Foundation is headquartered in NORTH SALEM, NY. While based in NY, the foundation distributes grants to organizations across 4 states.
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| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Hanson Gong | VICE PRESIDENT/SEC | $0 | $0 | N/A |
| Tim Gong | PRESIDENT/TRESURER | $0 | $0 | N/A |
Total Giving
$1.2M
Total Assets
$5.1M
Fair Market Value
$6.7M
Net Worth
$3.9M
Grants Paid
$1.1M
Contributions
N/A
Net Investment Income
$52K
Distribution Amount
$257K
Total: $3.2M
Total Grants
10
Total Giving
$4.2M
Average Grant
$423K
Median Grant
$50K
Unique Recipients
4
Most Common Grant
$1M
of 2022 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Princeton UniversityTO SUPPORT THE GONG *91 BIOENGINEERING POSTDOCTORAL FELLOWS AND GRADUATE FELLOWS FUND | Princeton, NJ | $1M | 2022 |
| Keseb Co The Fund For Constitutional GovernmentTO SUPPORT AN ECOSYSTEM FOR LEARNING, COLLABORATION, AND INNOVATION TO ADVANCE DEMOCRACY. | Washington, DC | $50K | 2022 |
| Sustainable Markets FoundationTO SUPPORT GRANTMAKING AND PROGRAMMATIC ACTIVITIES ON ENVIRONMENTAL PRESERVATION, ENERGY AND CLIMATE ISSUES, AND CONSUMER HEALTH AND SAFETY. | New York, NY | $25K | 2022 |
| Jfflabs IncPURCHASER'S PRIMARY PURPOSE IN MAKING THE INVESTMENT IS TOSIGNIFICANTLY FURTHER THE ACCOMPLISHMENT OF ITS CHARITABLE AND OTHER EXEMPT PURPOSES, ANDSUCH PURCHASER WOULD NOT HAVE MADE THE INVESTMENT BUT FOR THE RELATIONSHIP BETWEEN THEINVESTMENT AND THE ACCOMPLISHMENT OF THESE PURPOSES. NO PURPOSE OF THE INVESTMENT IS TOACCOMPLISH ONE OR MORE PURPOSES DESCRIBED IN SECTION 170(C)(2)(D) OF THE CODE. | Boston, MA | $1M | 2021 |