M & L Hong Foundation
- Assets
- $362.2k
- Revenue
- $48.9k
- Investments
- $354.4k
- Employees
- 0
- Location
- Pennington, NJ
- Founding
- 11/2018
- Data as of
- 12/2021
- EIN
- 83-6345283
Organization Overview
M & L Hong Foundation is located in Pennington, NJ. The organization was established in 2018. 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. M & L Hong 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 12/2021, M & L Hong Foundation generated $48.9k in total revenue.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hong Myung K Trustee | 0 | $0 | |
Hong Lorrie Y Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,906 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $40,974 |
| Capital Gain Net Income | $40,974 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $48,880 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,962 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $94 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $209 |
| Total operating and administrative expenses | $9,665 |
| Contributions, gifts, grants paid | $461,700 |
| Total expenses and disbursements | $471,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77 |
| Savings and temporary cash investments | $7,772 |
| 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 | $354,400 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $362,249 |
| 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, M & L Hong Foundation has awarded $461,700 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OVERSEAS KOREAN FOUNDATION PURPOSE: GENERAL OPERATING | $441,700 |
Los Angeles, CA PURPOSE: GENERAL OPERATING | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Womens Foundation New York, NY | $31,744,630 | $15,820,113 |
Ecumenical Enterprises Inc Dallas, PA | $29,362,494 | $14,819,334 |
Fund For The Aged Inc New York, NY | $109,939,296 | $8,972,478 |
Sdsn Association Inc New York, NY | $10,017,542 | $13,246,367 |
The Foundation For Enhancing Communities Harrisburg, PA | $107,592,484 | $47,434,480 |
Shear Family Foundation Inc Pittsburgh, PA | $193,925,105 | $4,615,784 |
Greater Ridgewood Youth Council Inc Ridgewood, NY | $6,525,051 | $8,713,714 |
Rite Aid Healthy Futures Camp Hill, PA | $33,191,715 | $15,687,011 |
Glasswing International Usa Inc New York, NY | $37,699,055 | $11,179,883 |
The Samberg Family Foundation Katonah, NY | $0 | $4,486,499 |
Single Stop Usa Inc New York, NY | $4,715,111 | $5,987,742 |
Malchus Foundation Brooklyn, NY | $24,956,883 | $30,497,983 |