Kwon Foundation Inc
- Assets
- $175.3k
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Port Washington, NY
- Founding
- Data as of
- 12/2022
- EIN
- 47-5267415
Organization Overview
Kwon Foundation Inc is located in Port Washington, NY. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kwon 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, Kwon Foundation Inc generated $3.9m in total revenue. All expenses for the organization totaled $269.8k during the year ending 12/2022. While expenses have increased by 46.1% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Kwon Foundation Inc has awarded 44 individual grants totaling $101,574. 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
1)COLLEGE STUDENT SCHOLARSHIP 2)CHURCHES AND RELIGIOUS ORGANIZATIONS 3)GENERAL CHARITABLE PURPOSES 4)DONATION TO OTHER 501(C)(3) ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Young Kook Kwon Director | 1 | $0 | |
Min Ok Kwon Treasurer/se | 1 | $0 | |
Tae Jin Kwon President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,715,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | -$31,803 |
| 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 | $3,894,855 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $58,450 |
| Taxes | $0 |
| Depreciation | $8,512 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $144,721 |
| Total operating and administrative expenses | $212,683 |
| Contributions, gifts, grants paid | $57,100 |
| Total expenses and disbursements | $269,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,800 |
| Savings and temporary cash investments | $0 |
| 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 | $104,492 |
| Other assets | $0 |
| Total assets | $175,292 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $150,000 |
| Mortgages and other notes payable | $2,700,000 |
| Other liabilities | $0 |
| Total liabilities | $2,850,000 |
Grants Awarded
Over the last fiscal year, Kwon Foundation Inc has awarded $57,100 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
ALZHEIMER'S ASSOCIATION PURPOSE: ALZHEIMERS RESEARCH SUPPORT | $50 |
AMERICAN CANCER SOCIETY PURPOSE: CANCER RESEARCH SUPPORT | $100 |
AMERICAN INDIAN COLLEGE FUND PURPOSE: EDUCATIONAL SUPPORT | $100 |
AMERICAN LUNG ASSOCIATION PURPOSE: HEALTH RESEARCH SUPPORT | $50 |
DISABLED VETERAN NATIONAL FOUNDATIO PURPOSE: DISABLED VETERAN SUPPORT | $100 |
GREAT MISSION FOR NEW LIFE PURPOSE: CHRISTIAN MISSION SUPPORT | $300 |