Overview
What is Frank Liu Jr Foundation Foundation?
The Frank and Cindy Liu Family Foundation, based in Houston, Texas, is a charitable organization operating as a 501(c)(3) entity. In line with its mission, it offers support to other qualified 501(c)(3) organizations by providing substantial financial contributions. The foundation's benevolent actions extended to donating $1,135,412 to numerous tax-exempt organizations in the year 2020.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, earning a Two-Star out of Four Star rating
The Frank Liu Jr Foundation has received a 74% rating from Charity Navigator, reflecting a moderate level of accountability and financial stability. The foundation demonstrates a commendable program expense ratio of 100%, indicating that all funding is directed towards its programs. However, the low percentage of independent board members (28%) and the small size of the independent board raises concerns about governance practices.
While the foundation has a strong conflict of interest policy and maintains transparency with its board meeting minutes, it falls short in certain areas such as the absence of its website on tax forms and failure to post its tax documents online. These gaps in financial transparency may hinder public trust and accountability.
Overall, the Frank Liu Jr Foundation shows dedication to its mission through effective program spending, but improvements in governance and transparency are necessary to enhance its reputation and foster greater confidence among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Frank Liu Jr Foundation Foundation legitimate?
Frank Liu Jr Foundation Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Frank Liu Jr Foundation Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Frank Liu Jr Foundation Foundation?
The Frank Liu Jr Foundation is a 501(c)(3) organization dedicated to offering assistance to other charitable organizations. Through generous donations, the foundation significantly contributes to the financial sustenance of various tax-exempt organizations. In 2020, the foundation donated an impressive sum of $1,135,412 to numerous charities. By providing support to these organizations, the foundation plays a crucial role in furthering their missions and making a difference in numerous lives.
Who is the CEO of Frank Liu Jr Foundation Foundation?
Frank Liu is the President/Director of Frank Liu Jr Foundation Foundation.
What is the revenue of Frank Liu Jr Foundation Foundation?
Frank Liu Jr Foundation Foundation's revenue in 2022 was $14,991,074.
Who are the executives of Frank Liu Jr Foundation Foundation and what are their salaries?
There 3 volunteers at Frank Liu Jr Foundation Foundation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Frank Liu Jr Foundation Foundation?
Frank Liu Jr Foundation Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Frank Liu Jr Foundation Foundation
The Frank Liu Jr Foundation Foundation is a charitable organization dedicated to extending a helping hand to other 501(c)(3) entities. With a generosity that reached $1,135,412 in donations alone in the year 2020, this foundation has made a significant impact on various tax-exempt organizations across the board.
Embodying the spirit of philanthropy, the Frank and Cindy Liu Family Foundation has adopted a mission to support fellow nonprofits in their respective endeavors. By providing financial assistance, this foundation serves as a crucial contributor in fostering the growth and success of various charitable initiatives. This collaboration not only extends resources but also strengthens the network of nonprofits working towards bettering communities and changing lives.
Through its charitable donations, the Frank Liu Jr Foundation Foundation plays a pivotal role in empowering these organizations to reach their full potential. By doing so, it fosters a ripple effect that ultimately benefits the communities they serve. This foundation's commitment to generosity and its unwavering support for other nonprofits makes it an invaluable partner in the world of philanthropy.
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Impact
October, 2024
The Frank Liu Jr Foundation has made a significant impact through its financial support of various charitable organizations. In 2020 alone, it donated over $1.1 million to multiple 501(c)(3) organizations, enabling them to further their missions and serve their communities. Based in Houston, Texas, the foundation focuses on amplifying the efforts of other nonprofits, thereby enhancing the overall landscape of philanthropy. By strategically allocating resources to diverse causes, it plays a pivotal role in fostering positive change and supporting initiatives that improve lives and communities.
This information is meant to be a general summary of Frank Liu Jr Foundation Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $8,416
- Gross Receipts: $16,023,546
Assets and Liabilities:
- Total Assets: $25,772,876
- Total Liabilities: $0
- Net Assets: $25,772,876
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Organization Details
Founding Year
2005
Phone
(713) 333-2200Principal Officer
Frank Liu
Main Address
515 POST OAK BLVD 1000, HOUSTON, TX, 77027
NTEE Category
Code: T22 - Philanthropy
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