Lims Dream Foundation
- Assets
- $2.3m
- Revenue
- $335.8k
- Investments
- $1.1m
- Employees
- 0
- Location
- Rancho Palos Verdes, CA
- Founding
- 03/2011
- Data as of
- 12/2022
- EIN
- 27-6662545
Organization Overview
Lims Dream Foundation is located in Rancho Palos Verdes, CA. The organization was established in 2011. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lims Dream 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, Lims Dream Foundation generated $335.8k 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 (8.9%) each year. All expenses for the organization totaled $257.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lims Dream Foundation has awarded 27 individual grants totaling $512,520. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTS AND CULTURE SUPPORT
CHILDREN SUPPORT
VETERINARY SUPPORT
CHURCH DONATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sang Rock Lim Trustor | 0 | $0 | |
Boung Soon Lim Trustor | 0 | $0 | |
Jee Sook Lim Trustee | 0 | $0 | |
Rae Kyu Jeong Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11 |
| Dividends & Interest | $1,172 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,307 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $325,322 |
| Total Revenue | $335,812 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $10,500 |
| Pension plans, employee benefits | $1,013 |
| Interest | $0 |
| Taxes | $95 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $33,048 |
| Printing and publications | $0 |
| Other expenses | $190 |
| Total operating and administrative expenses | $48,446 |
| Contributions, gifts, grants paid | $209,280 |
| Total expenses and disbursements | $257,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,190,815 |
| 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 | $1,069,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,259,815 |
| 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 | $32,063 |
| Total liabilities | $32,063 |
Grants Awarded
Over the last fiscal year, Lims Dream Foundation has awarded $209,280 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SHALOM CHURCH OF SOUTHERN CA PURPOSE: CHARITABLE CONTRIBUTION | $150 |
KYULIM FOUNDATION PURPOSE: CHARITABLE CONTRIBUTION | $200,000 |
EWHA INTERNATIONAL FOUNDATION PURPOSE: CHARITABLE CONTRIBUTION | $730 |
WORLD VISION PURPOSE: CHARITABLE CONTRIBUTION | $8,400 |