International Foundation For Korea University Inc
- Assets
- $598.4k
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 01/1999
- Data as of
- 12/2021
- EIN
- 13-3995485
Organization Overview
International Foundation For Korea University Inc is located in Los Angeles, CA. The organization was established in 1999. According to its NTEE Classification (Q11) the organization is classified as: Single Organization Support, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Foundation For Korea University Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, International Foundation For Korea University Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 41.4% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 41.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL AND CHARITABLE SUPPORT TO COMMUNITY AND KOREA UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ASSISTANCE TO IMPROVE SCHOOL FACILITIES OF KOREA UNIVERSITY, PROMOTE DEVELOPMENT OF KOREA UNIVERSITY AND ALSO PROVIDE SCHOLARSHIP FOR NEEDY STUDENTS IN THE LOCAL COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Won C Yi Fundraising | Officer | $0 | |
Kevin K Lee Vice Preside | Officer | $0 | |
Joanne Kim President | Officer | $0 | |
Soh Yun Kang Park Treasurer | Officer | $0 | |
Seongho Ahn Vice Preside | Officer | $0 | |
Soo Yeon Cho Secretary | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,430,314 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,430,314 |
| Total Program Service Revenue | $23,500 |
| Investment income | $7,659 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,461,473 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,000 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,300,678 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,053 |
| Advertising and promotion | $0 |
| Office expenses | $4,912 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $150 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $190 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,344,883 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,335 |
| Savings and temporary cash investments | $279,588 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $147,511 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $598,434 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $598,434 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $598,434 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that International Foundation For Korea University Inc has recieved totaling $22,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: INTERNATIONAL, FOREIGN AFFAIRS | $12,000 |
Kyc Foundation Torrance, CA PURPOSE: SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iit Bombay Heritage Foundation Cupertino, CA | $11,247,779 | $5,508,477 |
Acts Of Mercy Foundation Rancho Santa Margarita, CA | $9,833,426 | $2,106,440 |
International Foundation For Korea University Inc Los Angeles, CA | $598,434 | $2,461,473 |
Spring Impact Incorporated San Francisco, CA | $945,318 | $1,392,102 |
East-West Center Foundation Honolulu, HI | $18,725,557 | $1,487,119 |
Hospital De La Familia Foundation Berkeley, CA | $3,498,616 | $942,980 |
Maranatha Volunteers International Foundation Inc Roseville, CA | $4,379,779 | $384,974 |
Joni And Friends Foundation Agoura Hills, CA | $16,599,678 | $12,470,149 |
Day One Health Inc Redding, CA | $7,087 | $242,175 |
Landmine Relief Fund Van Nuys, CA | $255,144 | $558,242 |
United States University Of Diplomatic Studies Foundation Scottsdale, AZ | $100,864 | $403,713 |
American Friends Of Koret Israel Economic Development Funds San Francisco, CA | $0 | $0 |