The Albert Kim Foundation
- Assets
- $363.6k
- Revenue
- $100.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 03/2011
- Data as of
- 12/2023
- EIN
- 27-4375586
Organization Overview
The Albert Kim Foundation is located in Los Angeles, CA. The organization was established in 2011. 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. Albert Kim 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 12/2023, Albert Kim Foundation generated $100.0k 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 (18.2%) each year. All expenses for the organization totaled $232.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Y Kim President & CEO | 1 | $0 | |
Jung Mu Ryu Secretary | 1 | $0 | |
Katie Kwak CFO | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $100,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $75 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,175 |
| Contributions, gifts, grants paid | $231,774 |
| Total expenses and disbursements | $232,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,630 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $363,630 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Albert Kim Foundation has awarded $266,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
KOREAN AMERICAN FAMILY SERVICES PURPOSE: PROVIDE MUCH-NEEDED MENTAL HEALTH COUNSELING SERVICES TO KOREAN IMMIGRANT FAMILIES IN NEED(FEIN 95-3899329) | $255,000 |
FRIENDS OF LACES PURPOSE: PROVIDE LACES WITH MATERIALS, SUPPLIES AND SERVICES THAT NOT COVERED BY LAUSD (FEIN 93-1090541) | $10,000 |
EL NIDO FAMILY CENTERS PURPOSE: LOW-INCOME COMMUNITIES OF LOS ANGELES COUNTY | $1,000 |
RED CROSS PURPOSE: GENERAL FUND SUPPORT | $500 |