Yuen Hwa & Yong Sup Sim Family Community Foundation
- Assets
- $411.3k
- Revenue
- $170.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Cream Ridge, NJ
- Founding
- Data as of
- 12/2022
- EIN
- 84-3628677
Organization Overview
Yuen Hwa & Yong Sup Sim Family Community Foundation is located in Cream Ridge, NJ. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, 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. Yuen Hwa & Yong Sup Sim Family Community 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 12/2022, Yuen Hwa & Yong Sup Sim Family Community Foundation generated $170.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (14.3%) each year. All expenses for the organization totaled $67.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yong Sup Sim President/secretary | 2 | $0 | |
Yuen Hwa Sim Vp/treasurer | 2 | $0 | |
Eugene Sim Trustee | 1 | $0 | |
Sophia Sim Trustee | 1 | $0 | |
Hugo Dean Sim Trustee | 1 | $0 | |
Lindsay Sim Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $170,184 |
| Interest on Savings | $21 |
| 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 | $170,205 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,693 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,006 |
| Total operating and administrative expenses | $5,199 |
| Contributions, gifts, grants paid | $62,007 |
| Total expenses and disbursements | $67,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,316 |
| 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 | $250,000 |
| Other assets | $0 |
| Total assets | $411,316 |
| 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, Yuen Hwa & Yong Sup Sim Family Community Foundation has awarded $62,007 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
MERCER COUNTY COMMUNITY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIPS | $20,000 |
KOREAN AMERICAN INSTITUTE OF PRINCETON PURPOSE: SCHOLARSHIPS | $1,000 |
YANGCHUNG SCHOLARSHIP FOUNDATION PURPOSE: SCHOLARSHIPS | $3,000 |
PHILADELPHIA YOUNG KOREAN ACADEMY PURPOSE: SCHOLARSHIPS | $3,000 |
ARBOR DAY FOUNDATION PURPOSE: PROGRAM | $30 |
PBA LOCAL 390 PURPOSE: PROGRAM | $100 |