So Mang Foundation
- Assets
- $7.1m
- Revenue
- $2.3m
- Investments
- $3.0m
- Employees
- 0
- Location
- La Verne, CA
- Founding
- 04/1998
- Data as of
- 12/2021
- EIN
- 95-4658284
Organization Overview
So Mang Foundation is located in La Verne, CA. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. So Mang 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, So Mang Foundation generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.9% each year . All expenses for the organization totaled $474.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, So Mang Foundation has awarded 41 individual grants totaling $913,890. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
SUPPORT CHURCH AND MISSION ACTIVITY
SUPPORT FOREIGN MISSIONARY
SCHOLARSHIP & GRANT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eun Il Shin President | 0 | $0 | |
Hong Sik Shin CFO | 0 | $0 | |
Marian Limb Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $221,400 |
| Interest on Savings | $20,000 |
| Dividends & Interest | $902 |
| Net Rental Income | -$97,570 |
| Net Gain on Sale of Assets | $194,970 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,800,000 |
| Total Revenue | $2,254,872 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $10,206 |
| Taxes | $75 |
| Depreciation | $2,870 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $107,800 |
| Total operating and administrative expenses | $122,751 |
| Contributions, gifts, grants paid | $351,600 |
| Total expenses and disbursements | $474,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,525 |
| 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 | $3,721,348 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,985,156 |
| Net Land, buildings, and equipment | $195,070 |
| Other assets | $0 |
| Total assets | $7,090,099 |
| 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 | $300,988 |
| Other liabilities | $0 |
| Total liabilities | $300,988 |
Grants Awarded
Over the last fiscal year, So Mang Foundation has awarded $351,600 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Pomona, CA PURPOSE: CHURCH SUPPORT | $184,100 |
MUJIGYE FOUNDAITON PURPOSE: MISSION SUPPORT | $100,000 |
HOPE CHURCH PURPOSE: CHURCH SUPPORT | $35,000 |
SERVE AND GIVE MISSION PURPOSE: MISSION SUPPORT | $10,000 |
NAFEC PURPOSE: MISSIONARY SUPPORT | $7,500 |
CHINA MISSION PURPOSE: MISSION SUPPORT | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Shimon Ben Joseph Foundation San Francisco, CA | $1,592,283,787 | $39,921,005 |
Alfred C Munger Foundation Los Angeles, CA | $17,737,694 | $91,163,030 |
Hellman Foundation San Francisco, CA | $693,471,633 | $133,789,010 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA | $1,715,568,763 | $412,161,407 |
Omidyar Network Fund Inc Redwood City, CA | $490,038,780 | $21,031,743 |
Sobrato Family Foundation Mountain View, CA | $811,956,453 | $266,068,436 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Benificus Foundation San Carlos, CA | $13,481,294 | $1,960,393 |
H&h Evergreen Foundation Menlo Park, CA | $393,647,714 | $39,435,652 |
The Energy Foundation San Francisco, CA | $108,278,429 | $83,158,939 |
Stupski Foundation San Francisco, CA | $0 | $134,835,311 |