Teikyo Foundation Inc
EIN 592896682About
A PLAN OF DISSOLUTION WAS ADOPTED BY THE BOARD OF DIRECTORS ON FEBRUARY 27, 2020. TEIKYO FOUNDATION WAS EFFECTIVELY DISSOLVED ON FEBRUARY 29, 2020 UPON FILING THE ARTICLES OF DISSOLUTION WITH THE FLORIDA DEPARTMENT OF STATE. AS PART OF IT'S WINDING UP PHASE OF THE DISSOLUTION , TEIKYO FOUNDATION ATTEMPTED TO CLOSE OUT ITS INVESTMENT ACCOUNTS WITH THE VANGUARD GROUP, INC., BUT RAN INTO ISSUES WITH VANGUARD. AFTER SEVERAL FAILED ATTEMPTS, TEIKYO FOUNDATION WAS FINALLY ABLE TO GET VANGUARD TO COMPLETE THE TRANSFER OF INVESTMENTS. DURING FISCAL YEAR ENDED APRIL 30, 2023, TEIKYO FOUNDATION TRANFERED ITS INVESTMENTS ASSETS AND REMAINING CASH TO OKINAGA FOUNDATION, A NONOPERATING PRIVATE FOUNDATON. TEIKYO FOUNDATION AND OKINAGA FOUNDATION ARE EFFECTIVELY CONTROLLED BY THE SAME PERSON OR PERSONS. UNDER SECTION 1.507 -3(A)(9)(L), IF A PRIVATE FOUNDATION TRANSFERS ALL OR A PORTION OF ITS NET ASSETS TO ONE OR MORE PRIVATE FOUNDATIONS THAT ARE EFFECTIVELY CONTROLLED, DIRECTLY OR INDIRECTLY, BY THE SAME PERSON OR PERSONS THAT EFFECTIVELY CONTROL THE TRANSFEROR ORIVATE FOUNDATION, THE TRANSFEREE PRIVATE FOUNDATION WILL BE TREATED AS IF IT WERE THE TRANSFEROR PRIVATE FOUNDATION FOR PURPOSES OF SECION 4940 THROUGH 4948 AND SECTIONS 507 THROUGH 509. CASH IN THE AMOUNT OF 2,229,595 AND INVESTMENTS HELD PRIMARILY AS MUTUAL FUND SHARES IN THE AMOUNT OF 1,502,089 WERE TRANSFERED TO THE OKINAGA FOUNDATION FOR A TOTAL OF 3,731,684. STATEMENT REGARDING EXPENDITURE RESPONSIBILITY TEIKYO FOUNDATION DISBURSED 459,601 OF ITS QUALIFIED DISTRIBUTION TO OKINAGA FOUNDATION WHICH SPENT OR PROVIDED GRANTS TO QUALIFIED CHARITIES OR EDUCATIONAL INSTITUTIOINS FOLLOWING THE DISSOLUTION OF THE TEIKYO FOUNDATION. THESE FUNDS WILL BE DEDUCTED FROM OKINAGA CORPUS AND TREATED AS DISTRIBUTIONS "OUT OF CORPUS" WITHIN THE MEANING OF TREAS. REG, SECTION 53.4942(A)-3(C). ON OKINAGA'S TAX RETURNS AND WILL NOT BE COUNTED AS QUALIFYING DISTRIBUTIONS FOR THE YEARS ENDED JUNE 30, 2023 AND 2024.
Focus Areas
Application Information
Financial Trends
Giving Over Time
Total Assets Over Time
View financial data as table
| Year | Total Giving | Total Assets | Revenue | Grants |
|---|---|---|---|---|
| 2017 | $50K | $4.5M | $59K | 1 |
| 2018 | $50K | $4.7M | $74K | 1 |
| 2019 | $50K | $4.8M | $112K | 1 |
| 2020 | N/A | $4.7M | $39K | N/A |
| 2021 | N/A | $5.5M | $101K | N/A |
| 2022 | N/A | $5.3M | $55K | N/A |
| 2023 | $460K | $0 | $92K | 1 |
Grant Size Distribution
Based on 4 grants on record
Geographic Distribution
Officers & Directors
Grants Awarded (4 total)
| Purpose | ||||
|---|---|---|---|---|
| Okinaga Foundation | Englewood, NJ | $459,601 | EDUCATIONAL OR CHARITABLE | 2023 |
| Harvard College | Cambridge, MA | $50,000 | SCHOLARSHIP AND RESEARCH | 2019 |
| Harvard College | Cambridge, MA | $50,000 | SCHOLARSHIP AND RESEARCH | 2017 |
| Harvard College | Cambridge, MA | $50,000 | SCHOLARSHIP AND RESEARCH | 2018 |