Form 990 for tax year 2024

Filed by HSU FAMILY EDUCATIONAL FOUNDATION INC.

Totals

Total revenue: $937,357
Total expenses: $775,857
Contributions and grants received: $928,663
Grants paid: $24,153
Program service revenue: $8,151
Investment income: $197
Other revenue: $346
Total assets, end of year: $2,051,199
Total liabilities, end of year: $77,261
Net assets or fund balances, end of year: $1,973,938
Program services expenses (Part IX): $567,424
Management and general expenses: $208,433
Fundraising expenses: $0
Program service expenses (Part III): $567,424

Program services were 73.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1e · Government grants (contributions)

$108,123
1f · All other contributions, gifts and grants

$820,540
1g · Noncash contributions included above

$3,500
2f · All other program service revenue

total $8,151 · related or exempt $8,151
3 · Investment income

total $197 · related or exempt $197
11a · Other revenue: REFUNDS

total $346 · related or exempt $346
11e · Other revenue, total

$346

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $24,153 · program services $24,153
7 · Other salaries and wages

total $275,681 · program services $206,761 · management and general $68,920
9 · Other employee benefits

total $66,860 · program services $50,145 · management and general $16,715
10 · Payroll taxes

total $50,320 · program services $37,740 · management and general $12,580
11g · Fees: other

total $69,842 · management and general $69,842
12 · Advertising and promotion

total $6,673 · management and general $6,673
13 · Office expenses

total $2,011 · program services $2,011
16 · Occupancy

total $10,000 · management and general $10,000
17 · Travel

total $5,675 · management and general $5,675
24a · Other expenses: PROGRAM EXPENSES

total $120,235 · program services $120,235
24b · Other expenses: CONTRACT SERVICES

total $117,028 · program services $117,028
24c · Other expenses: SUPPLIES

total $14,740 · management and general $14,740
24d · Other expenses: DUES & SUBSCRIPTIONS

total $8,571 · program services $5,283 · management and general $3,288
24e · All other expenses

total $4,068 · program services $4,068

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $20,656 · end of year $139,334
2 · Savings and temporary cash investments

beginning of year $23,347 · end of year $20,569
4 · Accounts receivable

end of year $6,372
10a · Land, buildings and equipment: cost or other basis

$2,071,420
10b · Land, buildings and equipment: accumulated depreciation

$186,496
10c · Land, buildings and equipment, net

beginning of year $1,884,924 · end of year $1,884,924
17 · Accounts payable and accrued expenses

beginning of year $35,818
24 · Unsecured notes and loans payable

beginning of year $8,000 · end of year $8,000
25 · Other liabilities

beginning of year $72,671 · end of year $69,261
27 · Net assets without donor restrictions

beginning of year $1,812,438 · end of year $1,973,938

Mission and programs · 2024

Mission

THE STATED MISSION OF HSU FAMILY EDUCATIONAL FOUNDATION, INC (CORPORATION) IS TO PROMOTE EXCELLENCE IN EDUCATION AND ENCOURAGE CLASSROOM INNOVATION. ALL PROGRAMS OF THE CORPORATION SHALL SUPPORT THAT MISSION, AND ALL WHO WORK FOR OR ON BEHALF OF THE CORPORATION SHALL UNDERSTAND AND BE LOYAL TO THAT MISSION AND PURPOSE.

Activities or mission (Part I)

PROMOTE EXCELLENCE IN EDUCATION AND ENCOURAGE CLASSROOM INNOVATION.

EDUCATIONAL SUPPORT PROGRAM: THE HSU EDUCATIONAL FOUNDATION ENCOURAGES ENTREPRENEURSHIP BY SPONSORING EDUCATIONAL EVENTS AND SUPPORTING PROGRAMS THAT HIGHLIGHT STRATEGIES FOR BEING SUCCESSFUL IN SMALL BUSINESS.

Expenses $482,311 · Grants $20,530
DRONE TEAM CHALLENGE: UNMANNED AERIAL VEHICLES (UAVS) ARE THE WAY OF THE FUTURE AND TRAINING STUDENTS TO USE THEM EARLY ON GIVES THEM A COMPETITIVE ADVANTAGE THAT WILL BENEFIT THE STUDENT AS WELL AS THE WORKFORCE. BEGINNING AS EARLY AS 3RD GRADE, STUDENTS CAN DIVE INTO AN IMMERSIVE PROGRAM THAT WILL TAKE THEM THROUGH PROGRESSIVE TRAINING COMPLETELY PREPARING THEM FOR A VARIETY OF DRONE RELATED CAREER OPPORTUNITIES.

Expenses $56,742 · Grants $2,415
T.E.A.M.S.: RECOGNIZES AND REWARDS ELIGIBLE HIGH SCHOOL EDUCATORS WITH TOP TEAMS AWARDS OF $5,000 EACH AND MERIT AWARDS OF $500 EACH SPONSORED BY LOCAL BUSINESSES. SELECTION IS MADE THROUGH A NOMINATION AND APPLICATION PROCESS. NOMINATIONS MAY BE SUBMITTED BY ANYONE STUDENTS, PARENTS, COMMUNITY MEMBERS, FACULTY, AND TEACHERS MAY EVEN NOMINATE THEMSELVES.

Expenses $28,371 · Grants $1,208

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Paul S Hsu Ph DPAUL S HSU PH D

PRESIDENT

Total calculated

$0

Hours/week

5
Majes HsuMAJES HSU

VICE PRESIDENT

Total calculated

$0

Hours/week

0.5
D Timothy HerndonD TIMOTHY HERNDON

SECRETARY/TREASURER

Total calculated

$0

Hours/week

0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2024
Filed: 15 September 2026
IRS schema version: 2024v5.5
Source object: 202612589349302371

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