Jita Foundation Inc
- Assets
- $374.9k
- Revenue
- $382.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Lee, NJ
- Founding
- 09/2019
- Data as of
- 12/2022
- EIN
- 83-1898257
Organization Overview
Jita Foundation Inc is located in Fort Lee, NJ. The organization was established in 2019. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, 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. Jita 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, Jita Foundation Inc generated $382.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 30.8% each year . All expenses for the organization totaled $124.1k during the year ending 12/2022. While expenses have increased by 19.9% 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.
Since 2021, Jita Foundation Inc has awarded 29 individual grants totaling $215,381. 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
. PROVIDE SCHOLARSHIP FUND TO EDUCATIONAL ORGANIZATIONS AND NEEDY STUDENTS IN COMMUNITY SO EACH STUDENT CAN HAVE A BETTER OPPORTUNITY IN HIS OR HER EDUCATION INCLUDING CHRISTIAN EDUCATION. . SUPPORT CHRISTIAN MISSIONARIES AND THEIR FAMILIES SO THEY CAN SERVE THEIR COMMUNITY WHERE THEY STAY. . SUPPORT CHRISTIAN MISSION ACTIVITIES LIKE MISSION TRIP AND SPIRITUAL REVIVAL MOVEMENT. . SUPPORT NEEDY FAMILIES IN COMMUNITY SO THEY CAN HAVE A BETTER CHANCE TO FUNCTION AS A GOOD MEMBER OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Lee Founder & Pr | 10 | $0 | |
Ui Chin Lee Treasurer | 3 | $0 | |
Sun Rye Lee Secretary | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $382,929 |
| 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 | $0 |
| Total Revenue | $382,929 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $123,146 |
| Total operating and administrative expenses | $124,101 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $124,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $374,867 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $374,867 |
| 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, Jita Foundation Inc has awarded $122,381 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY VISION PURPOSE: CHRISTIAN MISSION | $3,600 |
PILGRIM CHURCH PURPOSE: CHRISTIAN CHURCH | $20,000 |
ARK CHURCH PURPOSE: CHRISTIAN CHURCH | $10,000 |
KI-HO SONG PURPOSE: CHRISTIAN MISSION (IN UK) | $10,350 |
YUN HYEONG KIM PURPOSE: CHRISTIAN MISSION (IN S. KOREA) | $3,850 |
JOHN JEEMYEONG KIM PURPOSE: CHRISTIAN MISSION | $5,000 |