Chee and Carole Foundation
Chee and Carole Foundation is a private foundation, based in Saratoga, CA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $238K in total assets. In 2024, it awarded 1 grant totaling $500. Net investment income was $18K.
Chee and Carole Foundation at a glance
In short: Chee and Carole Foundation gave $500 across 1 grant in 2024 (avg $500), mostly in California. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $500
- -82.5% vs 2023
- Grants made (2024)
- 1
- -50.0% vs 2023
- Average grant
- $500
- -65.1% vs 2023
- Median grant
- $500
- Total assets
- $238,009
- -2.3% vs 2023
- Primary geography
- California (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
Who Chee and Carole Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Ascession Church ($500).
Grant Size Distribution
17 grants across all recorded years
The most common grant size was under $50K: 17 grants of 17 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
Cities
How Chee and Carole Foundation gives
- Giving fell 86% from 2021 to 2024. Method
- In 2024 it paid out 4% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $500 (2024) to $7K (2020). In 2024 it made 1 grant totaling $500.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ascession Church Saratoga, CA | charity | $500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $238,009 | $18,000 | $23,525 | $500 | 1 | $500 | $18,000 | $11,421 |
| 2023 | $243,534 | $18,004 | $24,976 | $2,865 | 2 | $2,865 | $18,004 | $11,666 |
| 2022 | $250,506 | $16,702 | $29,576 | $2,700 | 2 | $2,700 | $16,702 | $11,926 |
| 2021 | $260,844 | $12,001 | $22,585 | $3,500 | 3 | $14,248 | $12,001 | $12,537 |
| 2020 | $271,428 | $14,201 | $27,321 | $6,900 | 9 | — | $14,201 | $13,309 |
Under IRS private-foundation payout rules, Chee and Carole Foundation reported a distributable amount of $11K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Chee and Carole Foundation is led by Carole Fong, CEO on every filing since 2020; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Carole Fong
CEO
On filings since 2020
1 hr/week
No compensation reported
Chee Fong
CFO
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Chee and Carole Foundation
How much does Chee and Carole Foundation give each year?
Chee and Carole Foundation gave $500 across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $3K across 2 grants.
How large is Chee and Carole Foundation?
Chee and Carole Foundation reported $238K in total assets on its 2024 IRS Form 990-PF. It paid out $500 in qualifying distributions that year, against a required minimum of $11K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Chee and Carole Foundation operate?
Chee and Carole Foundation has awarded grants in California, District of Columbia, Louisiana, Maryland, Mississippi, North Carolina, Texas.
What is Chee and Carole Foundation's EIN?
Chee and Carole Foundation's EIN (Employer Identification Number) is 47-2520360. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 8, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS October 23, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS October 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 13, 2025)
- IRS filings on file for fiscal years 2020–2024
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