Chung Foundation
- Assets
- $1.8m
- Revenue
- $834.9k
- Investments
- $1.5m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 11/2019
- Data as of
- 12/2023
- EIN
- 82-3760826
Organization Overview
Chung Foundation is located in Wilmington, DE. The organization was established in 2019. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chung 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, Chung Foundation generated $834.9k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $608.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Chung Foundation has awarded 33 individual grants totaling $2,686,900. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caleb Chung Dir, VP | 1 | $0 | |
Leisle Chung Dir, Pres, Sec, Treas | 1 | $0 | |
Vinh Chung Dir, VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $780,010 |
| Interest on Savings | $3,570 |
| Dividends & Interest | $41,638 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,659 |
| Capital Gain Net Income | $9,659 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $834,877 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $762 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $30,504 |
| Printing and publications | $0 |
| Other expenses | $13,083 |
| Total operating and administrative expenses | $56,421 |
| Contributions, gifts, grants paid | $552,000 |
| Total expenses and disbursements | $608,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $269,989 |
| 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 | $1,801,416 |
| 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, Chung Foundation has awarded $552,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CASA OF THE PIKES PEAK REGION INC PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
INTERNATIONAL JUSTICE MISSION PURPOSE: NORTHERN TRIANGLE - VAWC | $100,000 |
PINE CREEK HIGH SCHOOL PURPOSE: TO SUPPORT PCHS SPEECH AND DEBATE TEAM | $7,000 |
WORLD VISION PURPOSE: NEXT GEN FUNDRAISER CAMPAIGN FOR THE HUNGER CRISIS IN SOMALIA | $20,000 |
WORLD VISION PURPOSE: PROMESA DEL SUR PROJECT IN HONDURAS | $400,000 |