Simon & Joy Hong Foundation
- Assets
- $1.3m
- Revenue
- $308.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 04/2016
- Data as of
- 12/2021
- EIN
- 47-4837033
Organization Overview
Simon & Joy Hong Foundation is located in Los Angeles, CA. The organization was established in 2016. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Simon & Joy Hong Foundation 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, Simon & Joy Hong Foundation generated $308.9k 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 (6.3%) each year. All expenses for the organization totaled $98.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Simon & Joy Hong Foundation has awarded 88 individual grants totaling $714,870. 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
THE FOUNDATION'S ONLY ACTIVITIES IN 2021 WERE THE DONATIONS TO RELIGIOUS NON-PROFIT ORGANIZATIONS, SUCH AS CHURCH AND CHRISTIAN MISSIONARY ORGANIZATIONS.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $110,000 |
| Interest on Savings | $276 |
| Dividends & Interest | $17,085 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $73,800 |
| Capital Gain Net Income | $68,820 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $107,787 |
| Total Revenue | $308,948 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $75 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,240 |
| Total operating and administrative expenses | $3,315 |
| Contributions, gifts, grants paid | $94,900 |
| Total expenses and disbursements | $98,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,585 |
| Savings and temporary cash investments | $1,259,677 |
| 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 | $1,261,262 |
| 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, Simon & Joy Hong Foundation has awarded $94,900 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ALL NATIONS CHURCH PURPOSE: CHURCH | $79,280 |
SILK ROAD CONNECTION PURPOSE: CHRISTIAN MISSIONARY ORG. | $4,800 |
CHRIST KINGDOM CHURCH PURPOSE: CHURCH | $2,400 |
Los Angeles, CA PURPOSE: CHARITABLE ORG. | $2,100 |
Woodside, NY PURPOSE: CHRISTIAN MISSIONARY ORG. | $2,000 |
RAINBOW FAMILY MINISTRY PURPOSE: CHRISTIAN MISSIONARY ORG. | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Burton Family Foundation Phoenix, AZ | $142,839,047 | $129,470,588 |
The Reddere Foundation CO Silicon Valley Community Foundation C/O Silicon Valley Community Foundation Mountain View, CA | $1,000 | $363,994 |
California State University Foundation Long Beach, CA | $50,863,822 | $7,787,647 |
Friends Of South Central Losangeles Regional Center For Develop Los Angeles, CA | $80,196,128 | $6,156,555 |
The James B Mcclatchy Foundation Sacramento, CA | $57,491,792 | $3,443,288 |
Bernard A Newcomb Foundation Mountain View, CA | $29 | $26,230 |
Fairbrook Foundation Los Angeles, CA | $45,940,000 | $4,530,945 |
Opus Caritatis Inc Los Angeles, CA | $312,541,484 | $5,379,617 |
Coos Bay Rail Line Inc Coos Bay, OR | $1,080,981 | $4,330,336 |
Martin V And Martha K Smith Foundation Camarillo, CA | $13,107,884 | $1,460,523 |
Hollis Foundation Portland, OR | $88,968,365 | $14,360,180 |
Peter E Haas Jr Family Fund Novato, CA | $808,590,793 | $46,211,721 |