GE LI & NING ZHAO FAMILY FOUNDATION: Form 990PF, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- GE LI & NING ZHAO FAMILY FOUNDATION (EIN 35-2684719)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-08
- IRS object ID
- 202213129349102031
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Schedule B
- Accounting Fees Schedule
- Compensation Explanation
- Depreciation Schedule
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Other Schedule2
- Legal Fees Schedule
- Other Expenses Schedule
- Other Professional Fees Schedule
- Reasonable Cause Explanation
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-11-08T15:18:11-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FOUNDATION SOURCE | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE HOLLOW LN STE 212 | AddressLine1Txt |
| City | LAKE SUCCESS | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 11042 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 352684719 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Ge Li & Ning Zhao Family Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % Foundation Source | InCareOfNm |
| Business Name Control | GELI | BusinessNameControlTxt |
| Phone | 8008391754 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Foundation Source 501 Silverside Rd | AddressLine1Txt |
| City | Wilmington | CityNm |
| State Abbreviation | DE | StateAbbreviationCd |
| ZIP | 198091377 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR NING ZHAO | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 8008391754 | PhoneNum |
| Signature | 2022-10-31 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DR NING | PersonFirstNm |
| Person Last | ZHAO | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jeffrey D Haskell | PreparerPersonNm |
| PTIN | P01345770 | PTIN |
| Phone | 8008391754 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | TrustedCustomerGrp |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $287,226,671 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $220,862,621 | ContriRcvdRevAndExpnssAmt |
| Interest On Sav Rev And Expnss | $1,604 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $1,604 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $8,908,422 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $8,908,422 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $10,712,023 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $477,333,360 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $86,239,588 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $240,484,670 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $95,149,614 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Legal Fees Rev And Expnss | $69,540 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $69,540 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $1,618 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $1,618 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $0 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $495,353 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $389,736 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $105,617 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $2,177,621 | TaxesRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $114,494 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $5,062 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $109,432 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $2,858,626 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $396,416 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $284,589 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $8,270,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $8,270,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $11,128,626 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $396,416 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $8,554,589 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $229,356,044 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $94,753,198 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $17,880,365 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $67,456,262 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $67,456,262 | SavAndTempCashInvstEOYFMVAmt |
| Corporate Stock BOY | $10,000,000 | CorporateStockBOYAmt |
| Corporate Stock EOY | $190,038,637 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $163,881,288 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $65,000,000 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $60,000,000 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $45,150,000 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $6,042,520 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $10,784,030 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $10,739,121 | OtherInvestmentsEOYFMVAmt |
| Total Assets BOY | $98,922,885 | TotalAssetsBOYAmt |
| Total Assets EOY | $328,278,929 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $287,226,671 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning BOY | $98,922,885 | RetainedEarningBOYAmt |
| Retained Earning EOY | $328,278,929 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $98,922,885 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $328,278,929 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $98,922,885 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $328,278,929 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $98,922,885 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $229,356,044 | ExcessRevenueOverExpensesAmt |
| Subtotal | $328,278,929 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $328,278,929 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | Publicly-traded Securities | PropertyDesc |
| Gross Sales Price | $477,333,360 | GrossSalesPriceAmt |
| Cost Or Other Basis | $391,093,772 | CostOrOtherBasisAmt |
| Gain Or Loss | $86,239,588 | GainOrLossAmt |
| Gains Minus Excess Or Losses | $86,239,588 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $86,239,588 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $1,317,069 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $1,317,069 | SubtotalAmt |
| Tax Based On Investment Income | $1,317,069 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $1,253,600 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $91,900 | ExtsnRequestIncomeTaxPaidAmt |
| Total Payments And Credits | $1,345,500 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $28,431 | OverpaymentAmt |
| Applied To ES Tax | $28,431 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | DE | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Foundation Source | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8008391754 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 Silverside Road Suite 123 | AddressLine1Txt |
| City | Wilmington | CityNm |
| State Abbreviation | DE | StateAbbreviationCd |
| ZIP | 198091377 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | Yes (true) | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (6 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| Dr Ge Li | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir, Treas | 4.0 | $0 | $0 | $0 |
| Michael Le-Cheng Li | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir | 8.0 | $0 | $0 | $0 |
| Teddy Wang | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Treas | 18.0 | $0 | $0 | $0 |
| Lawrence Zhang | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Sec | 17.0 | $0 | $0 | $0 |
| Jun Zhao | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | VP | 17.0 | $0 | $0 | $0 |
| Dr Ning Zhao | ||||||||
| Foundation Source 501 Silverside Rd | Wilmington | DE | 198091377 | Dir, Pres, Sec | 10.0 | $0 | $0 | $0 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Foundation Source | |||||
| 55 Walls Drive 3rd Fl | Fairfield | CT | 06824 | Administrative | $106,054 |
| Seyfarth Shaw LLP | |||||
| 233 S Wacker Dr STE 8000 | CHICAGO | IL | 606066448 | Legal | $68,027 |
| Enboon Capital Management Corporation | |||||
| 251 Little Falls Dr | WILMINGTON | DE | 19808 | Admin & Inv MGMT | $479,167 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Summary Of Direct Chrtbl Acty | SummaryOfDirectChrtblActyGrp | |
| Sum Of Program Related Invst | SumOfProgramRelatedInvstGrp |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $152,089,769 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $12,393,323 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $9,998,497 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $174,481,589 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $174,481,589 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $2,617,224 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $171,864,365 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $8,593,218 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $8,593,218 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $1,317,069 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $1,317,069 | TotalTaxAmt |
| Distributable Before Adj | $7,276,149 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $7,276,149 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $7,276,149 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $8,554,589 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Charitable Assets Acquis Paid | $0 | CharitableAssetsAcquisPaidAmt |
| Set Aside Suitability Test | $0 | SetAsideSuitabilityTestAmt |
| Set Aside Cash Distri Test | $0 | SetAsideCashDistriTestAmt |
| Qualifying Distributions | $8,554,589 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $7,276,149 | DistributableAsAdjustedAmt |
| Prior Year1 | 2019 | PriorYear1Yr |
| Prior Year2 | 2018 | PriorYear2Yr |
| Prior Year3 | 2017 | PriorYear3Yr |
| Excess Distribution Cyov Yr1 | $1,047,708 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $1,047,708 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $8,554,589 | QualifyingDistributionsAmt |
| Applied To Current Year | $7,276,149 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $1,278,440 | RemainingDistriFromCorpusAmt |
| Total Corpus | $2,326,148 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $2,326,148 | ExcessDistriCyovToNextYrAmt |
| Excess From Year1 | $1,047,708 | ExcessFromYear1Amt |
| Excess From Current Year | $1,278,440 | ExcessFromCurrentYearAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Foundations | PrivateOperatingFoundationsGrp |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | DR GE LI | ContributingManagerNm |
| Contributing Manager | DR NING ZHAO | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|---|
| COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK | |||||||
| 622 W 113TH ST MC4524 | NEW YORK | NY | 10025 | N/A | PC | For the benefit of Columbia College, the Faculty of Arts and Sciences and the Graduate School of Arts & Sciences | $4,000,000 |
| MEMORIAL SLOAN-KETTERING CANCER CENTER The Societ | |||||||
| PO BOX 27106 | NEW YORK | NY | 10087 | N/A | PC | to establish The Ning Zhao & Ge Li Family Initiative for Lung Cancer Research and New Therapies | $4,000,000 |
| PEDDIE SCHOOL | |||||||
| 201 S MAIN ST | HIGHTSTOWN | NJ | 08520 | N/A | PC | Seltzer team | $5,000 |
| SCRIPPS RESEARCH INSTITUTE | |||||||
| 10550 N TORREY PINES RD | LA JOLLA | CA | 92037 | N/A | PC | In support of the John Martin Memorial Lecture | $250,000 |
| SOMERSET HILLS LEARNING INSTITUTE INC | |||||||
| 1810 BURNT MILLS RD | BEDMINSTER | NJ | 07921 | N/A | PC | In support of the Halloween Ball | $15,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $8,270,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees Contracts From Govt Ag | FeesContractsFromGovtAgGrp | |
| Membership Dues And Assmnt | MembershipDuesAndAssmntGrp |
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $1,604 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $8,908,422 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Rntl Incm Re Debt Fincd Prop | NetRntlIncmReDebtFincdPropGrp | |
| Net Rntl Incm Re Not Debt Fincd Prop | NetRntlIncmReNotDebtFincdProp | |
| Net Rental Income Personal Prop | NetRentalIncomePersonalPropGrp | |
| Other Investment Income | OtherInvestmentIncomeGrp |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $10,712,023 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $19,622,049 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $19,622,049 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
| Contributor Person | Dr Ge Li Dr Ning Zhao | ContributorPersonNm |
Contributor Foreign Address ContributorForeignAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | House 185 No 1883 Nong Hua Mu Rd | AddressLine1Txt |
| City | Shanghai | CityNm |
| Country | CH | CountryCd |
| Foreign Postal | 201204 | ForeignPostalCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | $220,862,621 | TotalContributionsAmt |
| Noncash Contribution | Yes (X) | NoncashContributionInd |
Non Cash Property Contribution NonCashPropertyContributionGrp (3 entries)
| ContributorContributorNum | Noncash PropertyNoncashPropertyDesc | Fair Market ValueFairMarketValueAmt | ReceivedReceivedDt |
|---|---|---|---|
| 1 | WUXI BIOLOGICS (CAYMAN) INC WXIBF, 5000000 sh. | $75,806,452 | 2021-05-28 |
| 1 | WUXI BIOLOGICS (CAYMAN) INC WXIBF, 5030000 sh. | $75,256,041 | 2021-10-06 |
| 1 | WUXI BIOLOGICS (CAYMAN) INC WXIBF, 5030000 sh. | $69,800,128 | 2021-11-22 |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | General Consultations | CategoryTxt |
| Amt | $1,618 | Amt |
| Net Investment Income | $1,618 | NetInvestmentIncomeAmt |
Compensation Explanation CompensationExplanation
Compensation Explanation CompensationExplanationGrp (5 entries)
| Short ExplanationShortExplanationTxt |
|---|
| Dr Ge Li |
| Dr. Ge Li, Director/Treasurer of Ge Li & Ning Zhao Family Foundation (the "Foundation"), is an owner at the consulting firm of Enboon Capital Management Corporation, a disqualified person which provides administrative and investment management services to the Foundation. During the taxable year ending December 31, 2021, the Foundation paid $97,917 for administrative services and $381,250 for investment management services rendered by such disqualified person as reported in Form 990-PF, Part I, Line 16c. Such consulting firm billed the Foundation at or below the rate it charges its other clients. |
| Teddy Wang |
| * Resigned from the Foundation in 2021 |
| Lawrence Zhang |
| * Resigned from the Foundation in 2021 |
| Jun Zhao |
| * Resigned from the Foundation in 2021 |
| Dr Ning Zhao |
| Dr. Ning Zhao, Director/President/Secretary of Ge Li & Ning Zhao Family Foundation (the "Foundation"), is an owner at the consulting firm of Enboon Capital Management Corporation, a disqualified person which provides administrative and investment management services to the Foundation. During the taxable year ending December 31, 2021, the Foundation paid $97,917 for administrative services and $381,250 for investment management services rendered by such disqualified person as reported in Form 990-PF, Part I, Line 16c. Such consulting firm billed the Foundation at or below the rate it charges its other clients. |
Depreciation Schedule DepreciationSchedule
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp (5 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| BSC GEARED BUFF BABA - 11.500% | $10,000,000 | $6,409,000 |
| CITI GEARED BUFFERED RECVON MS | $20,000,000 | $19,924,000 |
| CREDIT SUISSE - 20.65% | $10,000,000 | $8,535,000 |
| UBS AG - 23% - 02/01/2022 | $10,000,000 | $4,552,000 |
| UBS AG - 14.15% - 02/01/2022 | $10,000,000 | $5,730,000 |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (5 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| CITI 13.55% GEARED BUFFERED RE | $20,000,000 | $19,646,640 |
| CITI 18.05% GEARED BUFF TSLA 1 | $10,000,000 | $9,890,950 |
| PIMCO DYNAMIC INCOME OPPORTUNI | $5,000,000 | $4,890,000 |
| VANGUARD FTSE EUROPEAN ETF | $9,982,467 | $10,031,280 |
| WUXI BIOLOGICS (CAYMAN) INC | $145,056,170 | $119,422,418 |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (3 entries)
| Category Or ItemCategoryOrItemTxt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| CICFH HEALTHCARE INVESTMENT FU | $5,000,000 | $4,996,743 |
| GREENBACKER RENEWABLE ENERGY | $4,741,510 | $4,915,047 |
| SPECIAL OPPORTUNITY FUND VII, | $1,042,520 | $827,331 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | General Consultations | CategoryTxt |
| Legal Fees | $69,540 | LegalFeesAmt |
| Disbursements Charitable Prps | $69,540 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (4 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|---|
| Administrative Fees | $106,054 | $106,054 | |
| K-1 Exp GREENBACKER RENEWABLE | $5,062 | $5,062 | |
| Registered Agent Fee | $3,186 | $3,186 | |
| State or Local Filing Fees | $192 | $192 |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| Investment Management Services | $389,736 | $389,736 | |
| ADMINISTRATION OF FOUNDATION | $97,917 | $97,917 | |
| DESIGN FEE | $7,700 | $7,700 |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | The Foundation's tax preparer is located in Nassau County, NY, which, per IRS release NY-2021-01 announced on September 9, 2021, is included in the list of localities that constitute a covered disaster area for purposes of Treas. Reg. Sec. 301.7508A-1(d)(2) and are entitled to tax relief due to Hurricane Ida. Additional time was needed to calculate and transmit the tax payment. Therefore, Form 2220 indicates that the Q3 or Q4 estimated tax payment made on or before the extended deadline of February 15, 2022 was, in fact, made timely on the original due date of such payment. We respectfully request that no late payment penalties be assessed in connection with such payment(s) per Treas. Reg. Sec. 301.7508A-1(c)(1). | ExplanationTxt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt |
|---|---|
| 990-PF Estimated Tax for 2021 | $1,253,600 |
| 990-PF Excise Tax for 2020 | $924,021 |