DHC & CLC Foundation
EIN 811567287About
We respectfully request that the Foundation's quarterly estimated tax payments be treated as timely and request that no underpayment penalties be assessed because the payment delay was due to reasonable cause. Treasury Regulations SEC. 301.6651-1(c)(1) defines reasonable cause by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to submit a payment in a timely fashion for Form 990-PF. The Foundation's 2023 990-PF quarterly estimates were underpaid due to administrative error. It was discovered during the preparation of the 2023 990-PF that information relevant to the tax calculation was misclassified which caused the underpayment. Form 990-PF Part V, Line 8 reports no underpayment penalty of estimated tax since this was through no fault of the Foundation. The administrator is in the process of updating its policies and procedures to ensure that this will not occur in the future. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's and its administrator's actions were reasonable and in good faith. The underpayment of quarterly estimates was not in any way due to an intentional disregard of IRS rules but rather a clerical error. Therefore, we believe the Foundation is entitled to abatement of any penalty.
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 | $13K | $1.2M | $554K | 6 |
| 2018 | $4K | $2.9M | $1.9M | 4 |
| 2020 | $143K | $10.7M | $4.1M | 8 |
| 2021 | $234K | $63.9M | $50.6M | 1 |
| 2022 | $447K | $64.5M | $2.0M | 5 |
| 2023 | $212K | $77.2M | $36K | 5 |
| 2024 | $442K | $93.8M | $430K | 7 |
Grant Size Distribution
Based on 36 grants on record
Geographic Distribution
Officers & Directors
Grants Awarded (36 total)
| Purpose | ||||
|---|---|---|---|---|
| Fidelity Investments Charitable Gift Fund | Boston, MA | $439,022 | Chang Family Donor Advised Fund | 2022 |
| Fidelity Investments Charitable Gift Fund | Boston, MA | $233,772 | Chang Family Donor Advised Fund | 2021 |
| Campanile Foundation | San Diego, CA | $200,000 | provide support for the Electric Drive Transportation Center in the Electrical and Computer Engineering department | 2023 |
| University of San Diego | San Diego, CA | $200,000 | Engineering and Entrepreneurship Lab | 2024 |
| Campanile Foundation | San Diego, CA | $150,000 | Electric Drive Transportation Center in the Electrical and Computer Engineering department | 2024 |
| Fidelity Investments Charitable Gift Fund | Boston, MA | $113,086 | Chang Family Donor Advised Fund | 2020 |
| University of San Diego | San Diego, CA | $50,000 | To support the renovations of one electrical engineering and entrepreneurship laboratory at USD's Shiley-Macros... | 2024 |
| Sharp Healthcare Foundation | San Diego, CA | $40,000 | General & Unrestricted | 2024 |
| American Chinese Culture and Education Foundation | San Diego, CA | $20,000 | Covid-19 Fund | 2020 |
| La Jolla Country Day School | La Jolla, CA | $10,000 | for the support of learning differences and teacher training & support | 2017 |
| San Diego Chinese American Association | San Diego, CA | $5,000 | Covid-19 Fund | 2020 |
| U C San Diego Foundation | La Jolla, CA | $5,000 | Global Policy and Strategy 21st Century China Center | 2023 |
| Friends of We Chinese in America | San Diego, CA | $3,500 | General & Unrestricted | 2023 |
| San Diego Chinese Association for Science and Tech | San Diego, CA | $3,000 | General & Unrestricted | 2022 |
| United Chinese Alumni Association & Foundation | Dublin, CA | $3,000 | General & Unrestricted | 2018 |
| Friends of Coast Walk Trail | La Jolla, CA | $2,500 | General & Unrestricted | 2022 |
| Friends of Coast Walk Trail | La Jolla, CA | $2,500 | General & Unrestricted | 2023 |
| American Chinese Culture and Education Foundation | San Diego, CA | $2,000 | Coronavirus Fund | 2020 |
| University of San Diego | San Diego, CA | $1,500 | Parent's Fund | 2022 |
| American Chinese Culture and Education Foundation | San Diego, CA | $1,000 | General & Unrestricted | 2020 |
| Chinese Writers Association of America | San Diego, CA | $1,000 | for the publication of the anthology of the Writers Association | 2023 |
| American Chinese Culture and Education Foundation | San Diego, CA | $1,000 | General & Unrestricted | 2024 |
| Friends of Coast Walk Trail | La Jolla, CA | $1,000 | Charitable Event | 2024 |
| San Diego Chinese American Association | San Diego, CA | $1,000 | Charitable Event | 2017 |
| San Diego Hua Xia Chinese School Incorporation | San Diego, CA | $1,000 | General & Unrestricted | 2017 |