So Mang Foundation
- Assets
- $7.5m
- Revenue
- $708.3k
- Investments
- $3.7m
- Employees
- 0
- Location
- La Verne, CA
- Founding
- 04/1998
- Data as of
- 12/2022
- 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 12/2022, So Mang Foundation generated $708.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $325.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, So Mang Foundation has awarded 46 individual grants totaling $1,121,440. 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
2022
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 | |
Marian Limb Secretary | 0 | $0 | |
Hong Sik Shin CFO | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $436,600 |
| Interest on Savings | $61,483 |
| Dividends & Interest | $0 |
| Net Rental Income | -$90,106 |
| Net Gain on Sale of Assets | $98,070 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $92,106 |
| Total Revenue | $708,259 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $9,514 |
| Taxes | $200 |
| Depreciation | $718 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $105,963 |
| Total operating and administrative expenses | $118,195 |
| Contributions, gifts, grants paid | $207,550 |
| Total expenses and disbursements | $325,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,706 |
| 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 | $3,691,562 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,656,245 |
| Net Land, buildings, and equipment | $94,022 |
| Other assets | $0 |
| Total assets | $7,454,535 |
| 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 | $282,910 |
| Other liabilities | $0 |
| Total liabilities | $282,910 |
Grants Awarded
Over the last fiscal year, So Mang Foundation has awarded $207,550 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
INLAND CHURCH PURPOSE: CHURCH SUPPORT | $180,050 |
HOPE CHURCH PURPOSE: CHURCH SUPPORT | $5,000 |
NAFEC PURPOSE: MISSIONARY SUPPORT | $6,000 |
OC URI CHURCH PURPOSE: CHURCH SUPPORT | $1,000 |
HARVEST CONNECTION PURPOSE: MISSION SUPPORT | $15,500 |