Overview
What is Wa Sang Foundation?
The Wa Sang Foundation is a charitable organization situated in Seattle, Washington. Its primary mission is to address the housing needs of low-income individuals, achieving this through its program, The Rex Apartments. This program offers 30 units of affordable housing, making it a vital resource within the community. As a housing support services organization, Wa Sang Foundation is dedicated to improving living conditions for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars (37%)
The Wa Sang Foundation has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scores poorly in several key areas, particularly in governance, where it has no independent board members and lacks essential policies, such as conflict of interest and whistleblower policies. Furthermore, the foundation's financial transparency is called into question, evidenced by the absence of financial statements and a missing website listed on its tax form.
However, the foundation does demonstrate a commitment to its programs, with a program expense ratio of 84.30%, suggesting that a significant portion of its resources is allocated towards its mission. This is a positive aspect amidst the otherwise concerning findings. The organization also passed the assessment for material diversion of assets, indicating no reported issues in that area.
Overall, while Wa Sang Foundation may be effective in delivering its programs, the lack of independent oversight, missing policy frameworks, and transparency issues highlight serious governance and financial management challenges that potential donors and stakeholders should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Wa Sang Foundation legitimate?
Wa Sang Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wa Sang 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 Wa Sang Foundation?
The Wa Sang Foundation's mission is centered around providing affordable housing solutions. Through its program, The Rex Apartments, the organization offers 30 units for individuals with limited income. Acting as a housing support services provider, the Wa Sang Foundation aims to contribute positively to the community by offering a vital living space for those in need. Its efforts are focused on enhancing the living standards of its residents, providing them with a secure and comfortable environment.
Who is the CEO of Wa Sang Foundation?
Ling Chinn is the Director of Wa Sang Foundation.
What is the revenue of Wa Sang Foundation?
Wa Sang Foundation's revenue in 2022 was $705,432.
Who are the executives of Wa Sang Foundation and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Wa Sang Foundation?
Wa Sang Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wa Sang Foundation
The Wa Sang Foundation, a nonprofit organization, is dedicated to addressing the housing needs of individuals with limited income. Through its program, The Rex Apartments, the foundation offers 30 units of housing, serving as a vital housing support service provider. The Wa Sang Foundation's mission is to provide affordable living spaces, contributing to the well-being and stability of its residents. By offering these housing units, the Wa Sang Foundation plays a significant role in addressing the housing challenges faced by individuals with low income, ultimately enhancing their overall quality of life.
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Impact
July, 2024
The Wa Sang Foundation's impact lies in providing essential low-income housing through its program, The Rex Apartments, in Seattle, Washington. By offering 30 units through this initiative, the foundation significantly contributes to addressing the housing needs of vulnerable populations in the city. This direct action positively impacts individuals and families struggling to find affordable housing options, ultimately improving their quality of life and promoting stability within the community.
This information is meant to be a general summary of Wa Sang 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: $261,454
- Program Service Revenue: $298,318
- Gross Receipts: $1,227,487
Assets and Liabilities:
- Total Assets: $2,965,328
- Total Liabilities: $2,183,053
- Net Assets: $782,275
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$298,318
Organization Details
Founding Year
1989
Phone
(206) 622-2032Principal Officer
Ling Chinn
Main Address
657 SOUTH KING STREET APT 209, SEATTLE, WA, 98104
NTEE Category
Code: L20 - Housing
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