Hong Lok
- Assets
- $3.8m
- Revenue
- $357.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 02/2009
- Data as of
- 12/2023
- EIN
- 32-0255598
Organization Overview
Hong Lok is located in Phoenix, AZ. The organization was established in 2009. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hong Lok 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, Hong Lok generated $357.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $502.0k during the year ending 12/2023. While expenses have increased by 1.7% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING AND SUPPORT SERVICES FOR ELDERLY AND HANDICAPPED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS ORGANIZATION PROVIDED AFFORDABLE HOUSING TO ELDERLY PERSONS THROUGH THE OPERATION OF A 42-UNIT HUD 202 PRAC MULTIFAMILY HOUSING COMMUNITY IN PHOENIX, ARIZONA. THE ORGANIZATION PROVIDED DECENT AND SAFE HOUSING TO 84 RESIDENTS: 74% BETWEEN THE AGES 62-81 AND 26% BETWEEN THE AGES 82-93. HONG LOK EMPLOYED A SERVICE COORDINATOR WHO ASSISTED RESIDENTS WITH OBTAINING A VARIETY OF SOCIAL SERVICES AND REFERRALS, SUCH AS: ADVOCACY, ASSESSMENTS, CASE MANAGEMENT, BENEFITS AND ENTITLEMENTS (IE. SOCIAL SECURITY AND MEDICARE), TRANSLATION, TRANSPORTATION, CONFLICT RESOLUTION, HEALTHCARE SERVICES, COMPUTERS AND TECHNOLOGY, AND EMERGENCY FINANCIAL ASSISTANCE. EDUCATIONAL IN-SERVICES AND HEALTH AND WELLNESS ACTIVITIES WERE SCHEDULED EACH MONTH BY THE SERVICE COORDINATOR, IN ADDITION TO OTHER ACTIVITIES (CONT'D ON SCH O) PLANNED BY THE RESIDENT COUNCIL. RESIDENTS WERE ABLE TO RECEIVE ADDITIONAL SOCIAL SERVICES PROVIDED BY THE NEAR-BY SENIOR CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheak Yee Chair | OfficerTrustee | 0.2 | $0 |
Teresa Yung Vice Chair | OfficerTrustee | 0.2 | $0 |
Rudy Yee Treasurer | OfficerTrustee | 0.2 | $0 |
Brenda Fung Secretary | OfficerTrustee | 0.2 | $0 |
Joe Yue Auditor | OfficerTrustee | 0.2 | $0 |
Margaret T Liu Director | Trustee | 0.2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $359,868 |
| Investment income | $3,233 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,914 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $357,187 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| 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 | $115,514 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,221 |
| Payroll taxes | $11,762 |
| Fees for services: Management | $22,176 |
| Fees for services: Legal | $621 |
| Fees for services: Accounting | $18,344 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,345 |
| Advertising and promotion | $1,700 |
| Office expenses | $13,997 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,390 |
| Travel | $472 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,890 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $124,013 |
| Insurance | $20,499 |
| All other expenses | $0 |
| Total functional expenses | $502,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,724 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $487 |
| 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 | $10,608 |
| Net Land, buildings, and equipment | $3,338,977 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $361,742 |
| Total assets | $3,771,538 |
| Accounts payable and accrued expenses | $57,363 |
| Grants payable | $0 |
| Deferred revenue | $392 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $9,827 |
| 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 | $40,593 |
| Total liabilities | $108,175 |
| Net assets without donor restrictions | $3,663,363 |
| 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 | $3,771,538 |