The Asomugha Foundation
- Assets
- $21.6k
- Revenue
- $27.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Torrance, CA
- Founding
- 05/2006
- Data as of
- 12/2023
- EIN
- 20-3196099
Organization Overview
The Asomugha Foundation is located in Torrance, CA. The organization was established in 2006. According to its NTEE Classification (Q33) the organization is classified as: International Relief, 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. Asomugha Foundation 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 12/2023, Asomugha Foundation generated $27.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (20.7%) each year. All expenses for the organization totaled $31.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (21.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTANCE TO ABANDONED CHILDREN, ORPHANS, BATTERED WOMEN, WIDOWS AND SIMILAR PERSON IN NEED OF ASSISTANCE.
OTHER US CHARITIES WIDOWS - HOMELESS - POOR AND NEEDY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Lilian I Asomugha President & CEO | 25 | $0 | |
Nnamdi Asomugha Director | 0 | $0 | |
Chijioke Asomugha Director | 0 | $0 | |
Richard Rozman Director | 0 | $0 | |
Frank Oti Director | 0 | $0 | |
Ari Warmerdam Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $27,850 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $27,850 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $705 |
| Total operating and administrative expenses | $2,690 |
| Contributions, gifts, grants paid | $28,510 |
| Total expenses and disbursements | $31,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,759 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $4,000 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $9,887 |
| Other assets | $0 |
| Total assets | $21,646 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Asomugha Foundation has awarded $28,510 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OWINA-NEW HOPE ACADEMY-GOLD CREST F PURPOSE: TO HELP WIDOWS IN NEED | $27,850 |
UNDERPRIVILEDGED KIDS PURPOSE: TO HELP THE HOMELESS IN LOS ANGLES | $660 |