Farfy Foundation

Private foundation · Grantmaker La Jolla, CA EIN: 83-2432751

Farfy Foundation is a private foundation, based in La Jolla, CA. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $7.2M in total assets. In 2024, it awarded 6 grants totaling $322K. Net investment income was $80K.

Key facts about Farfy Foundation

In short: Farfy Foundation gave $322K across 6 grants in 2024 (avg $54K), mostly in California. Source: 2024 IRS Form 990-PF.

EIN
83-2432751
Latest 990 filing
Form 990-PF, 2024
Annual giving (2024)
$322,493
Grants made (2024)
6
Average grant
$53,749
Median grant
$41,426
Total assets
$7,217,630
Primary geography
California (60% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$7.2M

+11.9% YoY

Annual Giving

$322K

+20.8% YoY

Grant Count

6

+20.0% YoY

Avg Grant Size

$54K

+0.7% YoY

Under IRS private-foundation payout rules, Farfy Foundation reported a distributable amount of $335K for 2024 — the minimum it must pay out in qualifying distributions.

How Farfy Foundation gives

  • Giving grew 130% from 2021 to 2024. Method
  • In 2024 it paid out 96% 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.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

3states

Share of 2024 grant dollars across all 6 itemized grants.

Cities

La JollaCambridgeAthertonNew YorkAlbany

Giving Over Time

Total grant dollars and number of grants per year

$0$100K$200K$300K$400K0 grants2019 2 grants2020 4 grants2021 7 grants2022 5 grants2023 6 grants2024

From 2020 to 2024, annual grant giving ranged from $80K (2020) to $322K (2024). In 2024 it made 6 grants totaling $322K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 6 recipients in 2024

La Jolla Music Socienty: $104KLa Jolla Music Socienty$104KDo Good USA: $100KDo Good USA$100KScripps Research: $50KScripps Research$50KUcsd: $33KUcsd$33KScience Club for Girls: $29KScience Club for Girls$29KThe Menlo School: $7KThe Menlo School$7K

The largest 2024 recipient was La Jolla Music Socienty ($104K). Together the top 6 received $322K.

Grant Size Distribution

24 grants across all recorded years

15<$50K5$50–100K4$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 15 grants of 24 (63%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
La Jolla Music Socienty La Jolla, CAMusic Education$104,000
Do Good USA New York, NYFemale Entreprenuership$100,000
Scripps Research La Jolla, CAGraduate Education for Minority Students$50,000
Ucsd La Jolla, CAGraduate Education for Minority Students$32,851
Science Club for Girls Cambridge, MATo Allow for the Education of Underprivelged Girls$29,142
The Menlo School Atherton, CATo Allow for the Education of Underpriviliged Girls.$6,500

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$200K$400K$600K$800K2019 2020 2021 2022 2023 2024
Metric202420232022
Total Assets$7,217,630$6,449,866$5,144,118
Revenue$80,376$562,028$-229,365
Expenses$563,510$528,702$487,732
Qualifying Distributions$322,493$266,858$302,950
Net Investment Income$80,376$161,112$217
Distributable Amount$335,445—$260,858

Data update history

When this profile's IRS filing data changed on Grantable

  1. Added Form 990-PF for fiscal year 2019 (received by the IRS July 14, 2020)
  2. Updated Form 990-PF for fiscal year 2020 (received by the IRS November 10, 2021)
  3. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 13, 2022)
  4. Updated Form 990-PF for fiscal year 2022 (received by the IRS September 29, 2023)
  5. Updated Form 990-PF for fiscal year 2023 (received by the IRS June 20, 2024)
  6. Updated Form 990-PF for fiscal year 2024 (received by the IRS July 2, 2025)
  7. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Officers and directors from IRS filings

Farfy Foundation is led by Liqun Wang, Executive Director on every filing since 2019; 1 of 2 officers listed in 2024 is compensated.

Officers on the 2024 filing

  • Liqun Wang

    Executive Director

    On filings since 2019

    No compensation reported

  • Marco Londei

    Director

    On filings since 2019

    40 hrs/week

    $105K (2022) → $140K (2024)

Data from IRS Form 990 filings, 2019–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Compensation Overview

From 2024 IRS filing

Marco Londei — Director: $140KMarco LondeiDirector$140K

The highest reported compensation on the 2024 filing was $140K, to Marco Londei (Director).

Frequently asked questions about Farfy Foundation

How much does Farfy Foundation give each year?

Farfy Foundation gave $322K across 6 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $267K across 5 grants.

What is Farfy Foundation's typical grant size?

Farfy Foundation's median grant in 2024 was $41,426, and its average grant was $53,749, across 6 grants on its 2024 IRS Form 990-PF.

Where does Farfy Foundation give grants?

Farfy Foundation gives mostly in California: 60% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were New York (31%) and Massachusetts (9%). The most frequent recipient cities were La Jolla, CA (3 grants).

Does Farfy Foundation give general operating support?

Not in 2024: none of the 6 grants with a stated purpose on Farfy Foundation's 2024 IRS Form 990-PF were described as general or operating support.

Who are Farfy Foundation's largest grantees?

Farfy Foundation's largest 2024 grantees include La Jolla Music Socienty ($104,000), Do Good USA ($100,000) and Scripps Research ($50,000), according to its 2024 IRS Form 990-PF. Together they received 79% of its itemized 2024 grant dollars.

How large is Farfy Foundation?

Farfy Foundation reported $7.2M in total assets on its 2024 IRS Form 990-PF. It paid out $322K in qualifying distributions that year, against a required minimum of $335K (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.

What is Farfy Foundation's EIN?

Farfy Foundation's EIN (Employer Identification Number) is 83-2432751. IRS Form 990 filing data is available on this page for 2019–2024.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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