Sung Tae Kim Foundation
- Assets
- $3.3m
- Revenue
- $598.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 08/2016
- Data as of
- 12/2023
- EIN
- 81-2446791
Organization Overview
Sung Tae Kim Foundation is located in Los Angeles, CA. The organization was established in 2016. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Sung Tae Kim 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, Sung Tae Kim Foundation generated $598.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $420.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Sung Tae Kim Foundation has awarded 46 individual grants totaling $1,932,313. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seonho Ha C.e.o. | 20 | $0 | |
Sung Mi Pak Secretary | 10 | $0 | |
Joon Woo Kim C.f.o. | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500,000 |
| Interest on Savings | $0 |
| 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 | $98,942 |
| Total Revenue | $598,942 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $144,000 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,345 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $67,334 |
| Total operating and administrative expenses | $223,729 |
| Contributions, gifts, grants paid | $197,192 |
| Total expenses and disbursements | $420,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $923,259 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $500,000 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $1,924,914 |
| 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 | $3,348,173 |
| Accounts payable and accrued expenses | $7,419 |
| 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 | $7,419 |
Grants Awarded
Over the last fiscal year, Sung Tae Kim Foundation has awarded $197,192 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
LA FULL GOSPEL CHURCH PURPOSE: RELIGIOUS | $0 |
VENTURA KOREAN CATHOLIC CHURCH PURPOSE: RELIGIOUS | $0 |
DEUG SHIN CHOI PURPOSE: RELIGIOUS | $18,000 |
COMPASSION INTERNATIONAL PURPOSE: RELIGIOUS | $75,582 |
HEUNG SOON PARK PURPOSE: RELIGIOUS | $34,910 |
SUN HEE HA PURPOSE: RELIGIOUS | $11,000 |