Primax Foundation Inc
- Assets
- $4.4m
- Revenue
- $74.8k
- Investments
- $0.0
- Employees
- 1
- Location
- La Mirada, CA
- Founding
- 04/2009
- Data as of
- 12/2022
- EIN
- 20-8081933
Organization Overview
Primax Foundation Inc is located in La Mirada, CA. The organization was established in 2009. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Primax 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 12/2022, Primax Foundation Inc generated $74.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (13.9%) each year. All expenses for the organization totaled $165.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SPECIFIC PURPOSE OF THE ORGANIZATION IS TO SUPPORT SOCIALLY AND ECONOMICALLY DISADVANTAGED PEOPLE IN LOCAL AND INTERNATIONAL COMMUNITIES. ACTIVITIES ARE YOUTH EMPOWERMENT AND
Describe the Organization's Program Activity:
Part 3 - Line 4a
NGO PROJECTS
MEXICO PROJECTS
SCHOLARSHIP AND OTHERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jin K Hong President | Officer | 20 | $0 |
Minsook Suh Tresurer | Officer | 18 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,945 |
| Noncash contributions included in lines 1a–1f | $31,942 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,945 |
| Total Program Service Revenue | $12,314 |
| Investment income | $13,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $74,844 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $61,706 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,530 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,878 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,282 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,576 |
| Travel | $4,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,158 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,613 |
| Insurance | $0 |
| All other expenses | $5,407 |
| Total functional expenses | $165,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,451 |
| Savings and temporary cash investments | $900,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,625 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,334,801 |
| Investments—publicly traded securities | $1,162,431 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,405,308 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $4,405,308 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,405,308 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Primax Foundation Inc has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Pak Family Foundation Los Angeles, CA PURPOSE: GENERAL DONATION | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asia Foundation San Francisco, CA | $76,412,898 | $96,548,436 |
Thousand Currents San Francisco, CA | $18,209,575 | $15,204,408 |
Medical Teams International Tigard, OR | $43,129,775 | $57,004,022 |
Living Goods Oakland, CA | $25,335,492 | $27,387,443 |
Transfair Usa Oakland, CA | $19,057,567 | $24,006,067 |
Hope Worldwide Ltd San Diego, CA | $8,639,959 | $19,582,305 |
World Emergency Relief San Dimas, CA | $1,123,706 | $17,740,144 |
Rippleworks Inc Redwood City, CA | $1,127,548,161 | $34,942,704 |
Project Concern International San Diego, CA | $10,331,948 | $12,210,235 |
Muso Inc San Francisco, CA | $26,014,068 | $28,737,104 |
Surgical Eye Expeditions International Inc Santa Barbara, CA | $14,555,876 | $8,599,014 |
Volunteers For Interamerican Development Assistance Berkeley, CA | $167,273 | $11,297,919 |