Dyc Foundation Incorporated
- Assets
- $1.7m
- Revenue
- $4.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Silver Spring, MD
- Founding
- 01/2015
- Data as of
- 12/2021
- EIN
- 47-1837787
Organization Overview
Dyc Foundation Incorporated is located in Silver Spring, MD. The organization was established in 2015. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Dyc Foundation Incorporated 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, Dyc Foundation Incorporated generated $4.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (50.0%) each year. All expenses for the organization totaled $89.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Dyc Foundation Incorporated has awarded 25 individual grants totaling $173,178. 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 Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL ASSISTANCE AND ACADEMIC SCHOLARSHIPS TO HIGH PERFORMING, OR HIGH POTENTIAL STUDENTS WHO DEMONSTRATE FINANCIAL NEED AND/OR HAVE OVERCOME GREAT ADVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DYC FOUNDATION, INC. COLLEGE ASSISTANCE PROGRAM PROVIDES COMPREHENSIVE FINANCIAL, ACADEMIC, AND PERSONAL SUPPORT FOR ORPHANS, OR CHILDREN, CURRENTLY LIVING IN FOSTER CARE, CURRENTLY LIVING WITHOUT PARENTAL FINANCIAL SUPPORT, AND/OR UNDER OTHER EXTENUATING CIRCUMSTANCES. THE COLLEGE ASSISTANCE PROGRAM WILL SELECT HIGH POTENTIAL INDIVIDUALS FROM ESTABLISHED ORPHANAGES, SOCIAL CARE, OR CHURCH RELIEF PROGRAMS WHO DEMONSTRATE BOTH FINANCIAL NEED AND HIGH ACADEMIC AND PERSONAL POTENTIAL. THE DYC FOUNDATION WILL COVER ACADEMIC AND/OR LIVING COSTS (E.G., SCHOOL, ROOM AND BOARD, ETC.) OF THE SELECTED STUDENTS UNTIL GRADUATION FROM AN ACCREDITED COLLEGE OR UNIVERSITY.
DYC FOUNDATION, INC. OFFERS SCHOLARSHIPS FOR HIGH PERFORMING HIGH SCHOOL SENIORS DEMONSTRATING FINANCIAL NEED AT PAINT BRANCH HIGH SCHOOL OF BURTONSVILLE, MD, USA. THE SCHOLARSHIPS ARE TO BE APPLIED FOR THE RECIPIENTS' FIRST YEAR OF COLLEGE TUITION. IN 2018, THE DYC FOUNDATION OFFERED TWO SCHOLARSHIPS OF $1,000 TO TWO GRADUATING STUDENTS FROM PAINT BRANCH HIGH SCHOOL.
IN 2018, THE DYC FOUNDATION, INC. GAVE A SCHOLARSHIP TO A SELECTED STUDENTS FROM SOONG SIL MIDDLE/HIGH SCHOOL OF SEOUL, SOUTH KOREA. THE SCHOLARSHIP IS USED TO PROVIDE FULL FINANCIAL ASSISTANCE FOR TUITION AND RELATED EXPENSES FOR A STUDENT DEMONSTRATING FINANCIAL NEED WHILE ATTENDING SOONG SIL MIDDLE/HIGH SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Young S Chung Director | 0.5 | $0 | |
Song Hee Lee Director | 1 | $0 | |
Jina Chung Director | 3 | $0 | |
Duke C Chung Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,000 |
| Interest on Savings | $2,749 |
| Dividends & Interest | $0 |
| 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 | $4,749 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $95 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22 |
| Total operating and administrative expenses | $2,617 |
| Contributions, gifts, grants paid | $86,951 |
| Total expenses and disbursements | $89,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,405,117 |
| Savings and temporary cash investments | $258,143 |
| 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 | $1,663,260 |
| 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, Dyc Foundation Incorporated has awarded $86,951 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
SOONG SIL SCHOOL PURPOSE: EDUCATION SCHOLARSHIP TO STUDENTS FROM SOONG SIL MIDDLE/HIGH SCHOOL OF SEOUL, SOUTH KOREA. THE SCHOLARSHIP WAS USED TO PROVIDE FINANCIAL ASSISTANCE FOR TUITION AND RELATED EXPENSES FOR STUDENTS DEMONSTRATING FINANCIAL NEED WHILE ATTENDING SOONG SIL MIDDLE/HIGH SCHOOL. | $39,951 |
EDUCATION MISSION IN MALAWI PURPOSE: SUPPORT THE EDUCATION MISSION IN MALAWI | $12,000 |
Downers Grove, IL PURPOSE: TEACHER TRAINING | $10,000 |
Saddle Brook, NJ PURPOSE: 9 STUDENT SCHOLARSHIPS | $7,000 |
12 PLUS PURPOSE: SUPPORT EDUCATION - TO INCREASE EDUCATIONAL EQUITY BY BUILDING SCHOOL CULTURES THAT INSPIRE ACADEMIC ACHIEVEMENT AND EMPOWER STUDENTS TO SUCCEED IN EDUCATION BEYOND 12TH GRADE. | $5,000 |
Washington, DC PURPOSE: SUPPORT MISSION OF EMPOWERING UNDERSERVED YOUTHS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Forum For Youth Investment Washington, DC | $9,053,543 | $7,540,773 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
Mba Open Doors Foundation Washington, DC | $6,951,188 | $5,196,301 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
Passavant Hospital Foundation Pittsburgh, PA | $52,435,888 | $5,249,843 |
The Essential Foundation Fka Aqua Charitable Trust Bryn Mawr, PA | $32,073,281 | $19,000,000 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
The Meg And Bennett Goodman Family Foundation Jenkintown, PA | $50,458,470 | $11,004,981 |
Farm Journal Agricultural Foundation Washington, DC | $815,504 | $1,711,147 |
Yellow Ribbon Fund Inc Bethesda, MD | $1,996,496 | $3,055,184 |
Voorhis Foundation Wilmington, DE | $18,620,361 | $1,505,500 |
Izmirlian International Foundation Washington, DC | $264 | $2,005,003 |