Yung Hope Foundation
- Assets
- $2.3m
- Revenue
- $95.1k
- Investments
- $1.9m
- Employees
- 0
- Location
- Oak Brook, IL
- Founding
- 05/2019
- Data as of
- 12/2023
- EIN
- 83-2507984
Organization Overview
Yung Hope Foundation is located in Oak Brook, IL. The organization was established in 2019. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Yung Hope 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, Yung Hope Foundation generated $95.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 35.4% each year . All expenses for the organization totaled $106.4k during the year ending 12/2023. While expenses have increased by 4.5% 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 2020, Yung Hope Foundation has awarded 69 individual grants totaling $440,910. 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 |
|---|---|---|---|
Dr Cheuk W Yung President | 3 | $0 | |
Betsy P Yung Secetary/treasurer | 1 | $0 | |
Sophia M Moy Vice President | 1 | $0 | |
Steve C Yung Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $12,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $82,641 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$11 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $95,130 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $421 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $537 |
| Total operating and administrative expenses | $2,858 |
| Contributions, gifts, grants paid | $103,495 |
| Total expenses and disbursements | $106,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $403,313 |
| 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 | $2,292,375 |
| 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, Yung Hope Foundation has awarded $103,495 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
ALSACST JUDES CHILDREN'S RESEARCH HOSPITAL PURPOSE: GENERAL SUPPORT | $50 |
BRIGHT PROMISES FOUNDATION PURPOSE: GENERAL SUPPORT | $100 |
CCUC PURPOSE: GENERAL SUPPORT | $51,000 |
CHINESE AMERICAN MUSEUM OF CHICAGO PURPOSE: GENERAL SUPPORT | $100 |
CHINESE AMERICA SERVICE LEAGUE PURPOSE: GENERAL SUPPORT | $100 |
CHINESE CHRISTIAN MISSION PURPOSE: GENERAL SUPPORT | $1,000 |