Empowerment Fund Project Inc
- Assets
- $115.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Tenafly, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 87-4098376
Organization Overview
Empowerment Fund Project Inc is located in Tenafly, NJ. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Empowerment Fund Project Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
EFP ACHIEVED THE FOLLOWING IN THE YEAR 2023: (1) INVESTMENT PROGRAM DELIVERED AN ANNUAL RETURN OF 91% FOR THREE SUPPORTED ORGANIZATIONS - LIBERTY IN NORTH KOREA, YOUNG LIFE, AND KING'S KIDS (2) REGULAR CHECK-INS WITH THE LEADERS OF THREE ORGANIZATIONS THROUGHOUT THE YEAR TO DISCUSS OPERATIONS, EXAMINE THE IMPACT OF THEIR WORK, AND ENCOURAGE THE PRACTICE OF PUBLIC READING OF SCRIPTURE / JUST-SHOW-UP BOOK CLUBS (3) MADE A GRANT DISTRIBUTION OF $3,000 EACH TO LIBERTY IN NORTH KOREA AND YOUNG LIFE (4) UPON AN AFFIRMATIVE VOTE OF TWO-THIRDS (2/3) OF THE DIRECTORS, KING'S KIDS WAS REMOVED FROM THE LIST OF SUPPORTED ORGANIZATIONS EFFECTIVE JANUARY 1, 2024. MS. BAIK, WHO SERVED AS THE DIRECTOR FOR KING'S KIDS SINCE THE ORGANIZATION OF EFP, RETIRED FROM KING'S KIDS AFTER 20+ YEARS OF SERVICE AND AS SUCH RESIGNED FROM THE BOARD OF EFP EFFECTIVE JANUARY 1, 2024.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chung Ko President And Director | 2 | $0 | |
Juhee Choi Treasurer, Secretary And Director | 2 | $0 | |
John Mooney Director | 0.5 | $0 | |
Brian Hall Director | 0.5 | $0 | |
Hyo Jung Baik Director | 0.5 | $0 | |
Jayden Ko Founder Member | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $50 |
| Gain or Loss | $48,304 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $48,354 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $40 |
| Total expenses | $6,040 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $114,697 |
| Other assets | $0 |
| Total assets | $115,170 |
| Total liabilities | $25 |
| Net assets or fund balances | $115,145 |