Turbo Charitable Foundation

Organization Overview

Turbo Charitable Foundation is located in Rolling Hills, CA. The organization was established in 2011. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Turbo Charitable 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 12/2021, Turbo Charitable Foundation generated $264.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $71.8k during the year ending 12/2021. While expenses have increased by 5.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE FINANCIAL AID TO CHILDREN WHO ARE EXPERIENCING ECONOMIC CHALLENGES DURING THEIR ACADEMIC DEVELOPMENT. TO SUPPORT NEW GENERATION AND TO CONTRIBUTE TO THE SOCIETY AND DEVELOPMENT OF LEADERSHIP

Describe the Organization's Program Activity:

Part 3 - Line 4a

RELIEF FOR NEEDY FAMILIES IN COMMUNITY


SCHOLARSHIP AWARD TO 2 STUDENTS


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Board, Officers & Key Employees

Name (title)Compensation
Brian S Kim
Treasurer An
$0
Shinyong Kim
Secretary An
$0
Young S Kim
President An
$0
Joon Ho Choi
Director
$0
Ki June Kwon
Director
$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$244,500
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$244,500
Total Program Service Revenue$0
Investment income $27,923
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$8,063
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $264,360

Grants Awarded

Over the last fiscal year, Turbo Charitable Foundation has awarded $27,000 in support to 2 organizations.

Grant RecipientAmount

Los Angeles, CA

PURPOSE: FOR NEEDED FAMILY

$20,000

KOREA TOWN SENIOR AND COMMUNITY CTR

Org PageRecipient Profile

Los Angeles, CA

PURPOSE: FOR NEEDED FAMILY

$7,000
View Grant Profile

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