Seoul National University Foundation Inc
- Assets
- $6.8m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Lee, NJ
- Founding
- 02/2010
- Data as of
- 12/2021
- EIN
- 26-2615329
Organization Overview
Seoul National University Foundation Inc is located in Fort Lee, NJ. The organization was established in 2010. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, 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. Seoul National University 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 12/2021, Seoul National University Foundation Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 17.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BE CONTRIBUTORY FOR EDUCATIONAL ASSISTANCES. TO CONDUCT CHARITABLE ACTIVITIES. TO SUPPORT DEVELOPMENT OF SEOUL NATIONAL UNIVERSITY AND ITS AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE EDUCATION AND EDUCATIONAL EXCELLENCE THROUGH SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO STUDENTS, INSTITUTIONS AND OTHER ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Manuel M Lee President | Officer | 10 | $0 |
Hak Ryang Chung Director | Trustee | $0 | |
Seung Ja Lee Director | Trustee | $0 | |
Jong Chul Han Director | Trustee | $0 | |
Joonho Kang Director | Trustee | $0 | |
Byung Chul Kang Director | Trustee | $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 | $3,418,813 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,418,813 |
| Total Program Service Revenue | $0 |
| Investment income | $75,367 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $222,519 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,716,699 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,219,609 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,315 |
| Fees for services: Other | $0 |
| Advertising and promotion | $500 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,276,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,079,014 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,766,543 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,845,557 |
| Accounts payable and accrued expenses | $5,000 |
| 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 | $5,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $6,840,557 |
| 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 | $6,845,557 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Seoul National University Foundation Inc has recieved totaling $1,470,000.
| Awarding Organization | Amount |
|---|---|
H S Lee Family Foundation Inc Santa Rosa Beach, FL PURPOSE: GENERAL OPERATING SUPPORT | $1,000,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $250,000 |
Vanguard Charitable Endowment Program Southeastern, PA PURPOSE: FOR RECIPIENT'S EXEMPT PURPOSE | $200,000 |
The Chicago Community Trust Chicago, IL PURPOSE: TO SUPPORT SCHOLARSHIP FUND | $20,000 |
Endowment Analysis
| Beg. Balance | $5,136,735 |
| Earnings | $561,707 |
| Admin Expense | $57,089 |
| Net Contributions | $3,418,813 |
| Grants | $2,219,609 |
| Ending Balance | $6,840,557 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penn State Alumni Association University Park, PA | $100,014,631 | $13,658,978 |
Baseball Assistance Team Inc New York, NY | $16,328,027 | $4,707,517 |
United States Merchant Marine Academy Alumni Association And Fou Kings Point, NY | $55,826,934 | $8,053,233 |
Alumni Association Of New Jersey Institute Of Technology Paramus, NJ | $0 | $306,119 |
Alumni Of The Rabbinical College Knesseth Israel Of Slabodka Kowno Brooklyn, NY | $341,064 | $3,063,744 |
The Bronx High School Of Science Alumni Foundation Inc Bronx, NY | $31,172,697 | $12,367,161 |
Bernard M Baruch College Association Inc New York, NY | $9,740,278 | $4,039,630 |
Seoul National University Foundation Inc Fort Lee, NJ | $6,845,557 | $3,716,699 |
Syracuse Health Science Center Medical Alumni Foundation Inc Syracuse, NY | $50,640,765 | $25,764,011 |
Thaddeus Stevens Foundation Lancaster, PA | $7,318,571 | $3,742,597 |
Rowan University Alumni Association Glassboro, NJ | $0 | $183,589 |
Alumni Of The State Univ Of Ny Agri & Tech College At Cobleskill Cobleskill, NY | $10,808,498 | $1,450,996 |