Transparent Fish Fund Inc
Nonprofit profile at a glance
- EIN
- 452885139
- IRS 990 coverage
- 2014–2025
- Forms available
- Form 990 2025
- Location
- Los Altos, CA, USA
- Phone
- 9173453465
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- International Relief
Reported finances
- Revenue
- $292,159
- Expenses
- $255,597
- Assets
- $355,420
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- PAUL CHAN (PRESIDENT)
People named in this filing
- PAUL CHAN (PRESIDENT)
- DOUG TSUI (TREASURER)
- JOHN MAR (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Transparent fish fund is a 501(c)(3) us non-profit organization founded in 2011 in palo alto, California, established exclusively for charitable purposes to connect credible chinese and east asian grassroots ngos with individuals from the west. The greater mission behind this work is to foster a sustainable long-term NGO culture in east asia, and in doing so, spread a global spirit of philanthropy.
What it reported doing in 2025
Poverty alleviation in east asia: in 2025, we continued our impactful programs across china and southeast asia, supporting over 20 key initiatives. These efforts included reducing maternal and neonatal mortality, providing nutrition support for children, and offering computer and stem education to migrant children in china and vietnam. We also support life-saving heart surgeries for children born with congenital heart disease. In cambodia, we provided students with clean water in schools and pediatric medical training. While in thailand and, we provided healthcare for children and orphans rescued from human trafficking. In burma, we established safe spaces for children displaced by conflict and support medics team - and much more.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 72
- Accountability: 70
- Sustainability: 60
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.5%; rating input score 85
- Program expense ratio: 96.6%; rating input score 97
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 10th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: 2 of 8 controls in place; rating input score 25
- Claims monitoring procedures: Pass
- Requires narrative reports: Fail
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Pass
- Conducts site visits: Fail
- Requires grant agreements: Fail
- May require repayment: Fail
- Grant itemization coverage: 82%; rating input score 82; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 12.5%; rating input score 61; 61st percentile among comparable filings
- Total-asset coverage ratio: 1.39; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings
Growth
- Program expense growth: 4% per year; rating input score 100; 46th percentile among comparable filings
- Revenue growth: 1.4% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: 1.4% per year; rating input score 100; 28th percentile among comparable filings
Details
- Where the money goes: 84.5% of revenue deployed · 96.6% of spending went to programs
- Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $247K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 17 of 18 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors, foreign activity, and grants
- Filing history: 11 filing years from 2014 to 2025
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.