The Kang Family Foundation Inc
- Assets
- $210.0k
- Revenue
- $7.6k
- Investments
- $202.7k
- Employees
- 0
- Location
- Lisle, IL
- Founding
- 03/2007
- Data as of
- 12/2023
- EIN
- 87-0792549
Organization Overview
The Kang Family Foundation Inc is located in Lisle, IL. The organization was established in 2007. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kang Family 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 12/2023, Kang Family Foundation Inc generated $7.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (28.5%) each year. All expenses for the organization totaled $50.3k during the year ending 12/2023. 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 |
|---|---|---|---|
Su-Pa Kang President | 1 | $0 | |
Frances Kang Treasurer | 1 | $0 | |
Matthew Kang Vice President/secretary | 1 | $0 | |
Kathleen Domm Board Member | 0.5 | $0 | |
Therese Carrigan Board Member | 0.5 | $0 | |
Ellen Kang Board Member | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,530 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,073 |
| Capital Gain Net Income | $2,073 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,603 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $67 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $100 |
| Total operating and administrative expenses | $1,506 |
| Contributions, gifts, grants paid | $48,838 |
| Total expenses and disbursements | $50,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $949 |
| Savings and temporary cash investments | $6,340 |
| 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 | $202,729 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $210,018 |
| 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, The Kang Family Foundation Inc has awarded $48,838 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SAINT ROSE CATHOLIC CHURCH PURPOSE: PRAYER GARDEN | $39,838 |
SAINT ROSE SCHOOL PURPOSE: SCHOLARSHIP | $2,000 |
TOLEDO YES PROJECT PURPOSE: GENERAL SUPPORT | $1,000 |
SAINTS PETER & PAUL CATHOLIC SCHOOL PURPOSE: SCHOLARSHIP | $6,000 |