Kung Family Foundation Inc
- Assets
- $49.3k
- Revenue
- $2.8k
- Investments
- $16.8k
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 06/2014
- Data as of
- 12/2023
- EIN
- 26-1880054
Organization Overview
Kung Family Foundation Inc is located in Las Vegas, NV. The organization was established in 2014. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kung Family Foundation 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 12/2023, Kung Family Foundation Inc generated $2.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $16.1k during the year ending 12/2023. While expenses have increased by 24.8% per year over the past 5 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
KUNG WOODWIND GUEST ARTIST PROGRAM WHICH FUNDS MASTER CLASSES FOR WOODWIND STUDENTS
FUND SHEET MUSIC SUPPLY AND SUPPORT STUDENT TRAINING FOR THE PALOS VERDES REGIONAL YOUTH ORCHESTRA OF WHITE WINDS AND SILVER STRINGSORCHESTRA.
GRANT TO A WINNER OF INTERNATIONAL STRING COMPETATION FOR FURTHER STUDIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Agnes Kung President | 1 | $0 | |
Jen Kai Kung Secretary | 0 | $0 | |
Brian Kung Director | 0 | $0 | |
Caroline Kung Kowalski Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $153 |
| Dividends & Interest | $2,602 |
| 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 | $2,755 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $109 |
| Total operating and administrative expenses | $2,126 |
| Contributions, gifts, grants paid | $14,000 |
| Total expenses and disbursements | $16,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,439 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $49,283 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $10,865 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,865 |
Grants Awarded
Over the last fiscal year, Kung Family Foundation Inc has awarded $14,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KAREN SU PURPOSE: TO SUPPORT THE WINNER OF AN PRETEGIOUS INTERNATIOANL MUSIC COMPETITION FOR FURTHER STUDIES | $10,000 |
WHITE WINGS SILVER STRINGS PURPOSE: YOUTH ORCHESTRA | $4,000 |