Jong Soo Park & Jung Yoon Park Foundation
- Assets
- $423.0k
- Revenue
- $104.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 07/1999
- Data as of
- 12/2023
- EIN
- 38-3468276
Organization Overview
Jong Soo Park & Jung Yoon Park Foundation is located in Los Angeles, CA. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Jong Soo Park & Jung Yoon Park 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, Jong Soo Park & Jung Yoon Park Foundation generated $104.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $163.7k during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 8 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.
Since 2016, Jong Soo Park & Jung Yoon Park Foundation has awarded 25 individual grants totaling $758,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jong Soo Park President | 0.1 | $0 | |
Jung Yoon Park Secretary | 0.1 | $0 | |
David Park Vice Preside | 0.1 | $0 | |
Adelaide Park Director | 0.1 | $0 | |
Grace Park Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100,000 |
| Interest on Savings | $35 |
| Dividends & Interest | $4,503 |
| 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 | $104,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $137 |
| Total operating and administrative expenses | $1,207 |
| Contributions, gifts, grants paid | $162,500 |
| Total expenses and disbursements | $163,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,483 |
| Savings and temporary cash investments | $404,503 |
| 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 | $422,986 |
| 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, Jong Soo Park & Jung Yoon Park Foundation has awarded $162,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BERENDO STREET BAPTIST CHURCH PURPOSE: QUALIFIED CHURCH RELATED | $50,000 |
NEW ASIA FOUNDATION FOR EDUCATION A PURPOSE: QUALIFIED CHURCH RELATED | $2,500 |
SEOUL NATIONAL UNIVERSITY FOUNDATIO PURPOSE: EDUCATION GENERAL FUND | $110,000 |