Fong & Lee Foundation Inc

Analysis

Fong & Lee Foundation Inc is a registered charity in United States, based in Bonita SPGS, FL. It received its IRS tax-exemption ruling in August 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Fong & Lee Foundation Inc reported income of $52k and spending of $32k, leaving 40% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $31k to $52k (+71%), an average of +71% a year. The sharpest change came in the year to December 2023, when income rose by 71%. Over the whole period it spent 50% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fong & Lee Foundation Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 24th percentile within FL. Charities of a similar size with the same main cause include Forever Families Home Study Agency Inc ($52k), Madison Senior Center Foundation Inc ($52k) and Flagler Womans Club ($52k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $41k against liabilities of $0, net assets of $41k.