Gfoundation
- Assets
- $194.1k
- Revenue
- $244.9k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- Data as of
- 12/2023
- EIN
- 37-1996506
Organization Overview
Gfoundation is located in New York, NY. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2023, Gfoundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gfoundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
GFOUNDATION REACHES OUT TO NEIGHBORS WHO ARE VULNERABLE AND OVERLOOKED WITH A VISION TO CREATE A WORLD WHERE THERE IS NO DISTICTION BETWEEN THOSE WHO GIVE AND THOSE WHO RECEIVE HELP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM: HUMANITARIAN ASSISTANCE PROGRAM ACCOMPLISHMENT: GFOUNDATION WORKS FOR PEOPLE IN NEED AROUND THE WORLD. BY ADDRESSING THE HYGIENE, HEALTH, AND EDUCATIONAL CONCERNS IN COUNTRIES AROUND THE WORLD, WE HELP THEM BUILD A BETTER FUTURE FOR THEMSELVES. WHEN DISASTERS STRIKE, WE ARE ON THE GROUND TO HELP THE SURVIVORS RETURN TO THEIR NORMAL LIVES. GFOUNDATION RESPONDED TO THE 2023 EARTHQUAKES IN TURKEY AND MOROCCO AND FLOODING IN LIBYA BY PROVIDING ESSENTIAL SUPPORT TO SURVIVORS. IN TURKEY, GFOUNDATION DISTRIBUTED BASIC GOODS, FOOD, MEDICINE, AND WATER PURIFICATION FACILITIES TO THOSE AFFECTED, WORKING CLOSELY WITH LOCAL NGOS AND INTERNATIONAL RELIEF AGENCIES. IN MOROCCO, GFOUNDATION FOCUSED THEIR EFFORTS ON THE TOWNS OF TUBUKAL, RECARGA, AND AMIZMIZ, COLLABORATING WITH A LOCAL NGO TO PROVIDE NECESSARY RELIEF TO 300 AFFECTED FAMILIES. IN LIBYA, GFOUNDATION SUPPORTED 136 PEOPLE WITH INTERNATIONAL RELIEF AGENCIES. EMERGENCY MEDICAL SERVICES AND HYGIENE KITS WERE PROVIDED FOR THE AFFECTED LIBYANS. THROUGH THIS SUPPORT, WE AIMED TO ADDRESS THE LACK OF SURVIVAL NECESSITIES, MEDICAL SERVICES AND MEDICAL HUMAN RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sojin Bae Director | OfficerTrustee | 1 | $0 |
Chungkwan Park Director | OfficerTrustee | 1 | $0 |
Sooil Park Director | Trustee | 1 | $0 |
David Shin Director | OfficerTrustee | 1 | $0 |
Eunhye Jeong President | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $185,250 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $59,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,901 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $244,901 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $52,200 |
| 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 | $51,520 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,991 |
| Fees for services: Management | $4,200 |
| Fees for services: Legal | $11,510 |
| Fees for services: Accounting | $12,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $241 |
| Office expenses | $5,796 |
| Information technology | $2,747 |
| Royalties | $0 |
| Occupancy | $3,150 |
| Travel | $3,130 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,231 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,731 |
| Insurance | $3,365 |
| All other expenses | $0 |
| Total functional expenses | $207,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,304 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $139,824 |
| Total assets | $194,128 |
| Accounts payable and accrued expenses | $2,649 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $120,838 |
| Total liabilities | $123,487 |
| Net assets without donor restrictions | $70,641 |
| 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 | $194,128 |