Hwarang Youth Foundation
- Assets
- $27.1k
- Revenue
- $243.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Los Angeles, CA
- Founding
- 11/2017
- Data as of
- 12/2023
- EIN
- 81-1776153
Organization Overview
Hwarang Youth Foundation is located in Los Angeles, CA. The organization was established in 2017. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Hwarang Youth Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hwarang Youth 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 12/2023, Hwarang Youth Foundation generated $243.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $255.4k during the year ending 12/2023. While expenses have increased by 14.2% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HWARANG ALSO KNOWN AS FLOWERING KNIGHTS, REFERS TO AN ELITE GROUP OF MALE YOUTH IN SILLA IN ORDER TO CREATE WELL-ROUNDED ELITE MEMBERS OF THE SOCIETY. INSPIRED BY THAT, THE HWARANG YOUTH FOUNDATION IS A SERVICE GROUP COMPOSED OF GOAL-DRIVEN FUTURE LEADERS, AIMING TO BETTER THE INTERNATIONAL COMMUNITY THROUGH CONSISTENT UNIFIED EFFORTS. WE SEEK TO ADDRESS ISSUES WITHIN OUR COMMUNITIES BY PROMOTING THE IMPLEMENTATION OF OUR ACTIVE ROLES AS ADVOCATORS OF LOVE AND PEACE. EACH AND EVERY HWARANG INDIVIDUAL IS A DILIGENT AND PASSIONATE LEADER WITH HIGH REGARD FOR COMMUNITY AFFAIRS. COMING TOGETHER, WE STAND PROUDLY AS COMBATANTS AGAINST GLOBAL ISSUES. HWARANG HAS A SAYING, TODAY'S HWARANGS, TOMORROW'S LEADERS. OUR HWARANG YOUTH FOUNDATION AND SAVE OUR SOCIETY ARE NOT JUST VOLUNTEER ORGANIZATIONS, BUT ARE OUTLETS TO HELP STUDENTS BECOME EFFECTIVE, POWERFUL, AND ACTIVE LEADERS OF THEIR RESPECTIVE COMMUNITIES. OUR VOLUNTEERS HAVE BEEN A PART OF SEVERAL ACTIVITIES OVER THE YEARS: PARK RESTORATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
HWARANG ANNUAL GALA AND AWARD IS A CHARITY EVENT THAT CELEBRATES HWARANG?S ACHIEVEMENTS WITH AN AWARD CEREMONY THAT SIGNIFIES MEMBERS GREAT COMMITMENT. STRENGTHENING THE RELATIONSHIPS BETWEEN MEMBERS BY SEEING EACH OTHER FACE-TO-FACE TO START A MORE ENGAGED FRESH YEAR. FUNDRAISING VIA DONATIONS AND SPONSORSHIPS TO OPERATE HWARANG NEXT YEAR.
SUPPORT MEMBERS' RELIGIOUS ACTIVITIES
HWARANG VISION CAMP PROVIDES FREE CATARACT SURGERY TO LOW-INCOME FAMILIES IN GUATEMALA. HWARANG PURCHASED A MEDICAL VAN TO TRANSPORT THE VOLUNTEERS SAFELY AND PAID THE FULL COST OF CATARACT SURGERY, DOCTORS & NURSES. HWARANG VOLUNTEERS DONATED THOUSANDS OF DAILY NECESSITIES AND HELD FREE ENTERTAINING CLASSES FOR THE YOUTHS IN GUATEMALA. HWARANG COLLECTED FUNDS FOR THIS EVENT THROUGH AN ANNUAL VISION CONCERT.
SUMMIT OFFICERS AND CHAPTER OFFICERS BOND AND LEARN WHAT THEIR POSITION ENTAILS. THE OFFICERS DISCUSS THE WAYS TO IMPROVE HWARANG. HWARANG GRANTS SCHOLARSHIPS TO THE NEWLY ELECTED OFFICERS. BONDING ACTIVITIES INCLUDE CHAPTER OFFICER INTRODUCTIONS, CHARADES, AND VARIOUS OTHER GAMES THAT REQUIRE TEAMWORK. THIS EVENT IS AN OVERNIGHT EVENT, REQUIRED TO RESERVE HOTEL ROOMS AND CONFERENCE ROOMS, TO PROVIDE MEALS AND UNIFORMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Jung CFO | Officer | $0 | |
Jason Oh Secretary | Officer | $0 | |
Howard Park CEO | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $45,567 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $197,885 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $243,452 |
| 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 | $243,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| 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 | $63,952 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,550 |
| Fees for services: Management | $695 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,539 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,479 |
| Advertising and promotion | $3,050 |
| Office expenses | $14,846 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,357 |
| Travel | $19,277 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,634 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $255,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,969 |
| 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 | $9,136 |
| Total assets | $27,105 |
| Accounts payable and accrued expenses | $1,877 |
| 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 | $0 |
| Total liabilities | $1,877 |
| Net assets without donor restrictions | $0 |
| 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 | $25,228 |
| Total liabilities and net assets/fund balances | $27,105 |