Chon Family Foundation Inc
- Assets
- $769.3k
- Revenue
- $89.6k
- Investments
- $715.5k
- Employees
- 0
- Location
- Alpine, NJ
- Founding
- 08/2014
- Data as of
- 12/2022
- 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 12/2022, Chon Family Foundation Inc generated $89.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $30.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Chon Family Foundation Inc has awarded 19 individual grants totaling $170,400. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT GRANTS AND CONTRIBUTIONS PAID TO CHARITABLE ORGANIZATIONS
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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 | $482 |
| Dividends & Interest | $13,157 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $75,986 |
| Capital Gain Net Income | $75,986 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $89,625 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $88 |
| Total operating and administrative expenses | $6,598 |
| Contributions, gifts, grants paid | $23,900 |
| Total expenses and disbursements | $30,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,236 |
| Savings and temporary cash investments | $2,591 |
| 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 | $769,298 |
| 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 $23,900 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNDERWOOD ORCHESTRA INC PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $500 |
GIVE CHANCES PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $5,000 |
KOREAN-AMERICAN YOUTH ASSISSTANCE PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $2,400 |
VISION USA PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $1,000 |
ENOB PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $5,000 |
NY NANUM FOUNDATION PURPOSE: TO ASSIST PURPOSE OF DONEE ORGANIZAT | $10,000 |