Chon Family Foundation Inc
- Assets
- $710.2k
- Revenue
- $12.7k
- Investments
- $655.3k
- Employees
- 0
- Location
- Alpine, NJ
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 35-2462413
Organization Overview
Chon Family Foundation Inc is located in Alpine, NJ. The organization was established in 2014. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chon 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 12/2021, Chon Family Foundation Inc generated $12.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (27.7%) each year. All expenses for the organization totaled $32.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Chon Family Foundation Inc has awarded 13 individual grants totaling $146,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT GRANTS AND CONTRIBUTIONS PAID TO CHARITABLE ORGANIZATIONS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Chon Officer | 1 | $0 | |
Julie Park-Chon Officer | 1 | $0 | |
Justin Song Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $40 |
| Dividends & Interest | $12,664 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20 |
| Capital Gain Net Income | $20 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,724 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $67 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $177 |
| Total operating and administrative expenses | $2,351 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $32,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,297 |
| Savings and temporary cash investments | $2,590 |
| 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 | $710,171 |
| 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, Chon Family Foundation Inc has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KOREAN COMMUNITY CENTER PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $20,000 |
Northvale, NJ PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Civic Auto Ramps Inc Buffalo, NY | $1,499,927 | $7,888,664 |
Pocono Services For Families And Children Inc East Stroudsburg, PA | $5,666,674 | $5,697,584 |
Data & Society Research Institute New York, NY | $10,624,558 | $3,287,575 |
Bend The Arc Jewish Action Inc New York, NY | $2,917,123 | $4,796,081 |
Greater Syracuse Property Development Corporation Syracuse, NY | $6,042,694 | $3,813,121 |
East Mid-Manhattan District Management Association Inc New York, NY | $3,778,894 | $3,534,351 |
New York 811 Inc Bohemia, NY | $4,587,897 | $3,122,927 |
New York State Local Government Services Foundation Inc Albany, NY | $314,574 | $1,870,171 |
Municipal Risk Management Inc Sewickley, PA | $1,866,015 | $1,889,170 |
Conservative Mennonite Financial Lebanon, PA | $46,104,322 | $1,303,669 |
Cause Effective Inc New York, NY | $567,862 | $1,387,605 |
Kowalski Family Foundation Kinnelon, NJ | $925,164 | $966,952 |