Youngbum Song Foundation
- Assets
- $7.1m
- Revenue
- $820.9k
- Investments
- $6.5m
- Employees
- 0
- Location
- Sun Valley, CA
- Founding
- 10/2016
- Data as of
- 12/2023
- EIN
- 81-0791933
Organization Overview
Youngbum Song Foundation is located in Sun Valley, CA. The organization was established in 2016. 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. Youngbum Song 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, Youngbum Song Foundation generated $820.9k 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 (7.5%) each year. All expenses for the organization totaled $408.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Youngbum Song Foundation has awarded 83 individual grants totaling $1,330,000. 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 |
|---|---|---|---|
Young B Song President | 0 | $0 | |
Julie K Song Secretary | 1 | $0 | |
Grace Song CFO | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500,000 |
| Interest on Savings | $12,709 |
| Dividends & Interest | $93,990 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $214,158 |
| Capital Gain Net Income | $15 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $820,857 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $26,285 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $180 |
| Total operating and administrative expenses | $28,165 |
| Contributions, gifts, grants paid | $380,000 |
| Total expenses and disbursements | $408,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,979 |
| Savings and temporary cash investments | $180,637 |
| 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 | $1,040,308 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,114,599 |
| 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, Youngbum Song Foundation has awarded $380,000 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
KOREAN AMERICAN COALITION PURPOSE: CHARITABLE PURPOSES | $30,000 |
KOREAN RESOURCE CENTER PURPOSE: CHARITABLE PURPOSES | $20,000 |
KOREAN AMERICAN SCHOLARSHIP FOUNDAT PURPOSE: CHARITABLE PURPOSES | $30,000 |
KOREAN AMERICAN WOMENS ASSOCIATION PURPOSE: CHARITABLE PURPOSES | $20,000 |
UCLA CENTER FOR KOREAN STUDIES PURPOSE: CHARITABLE PURPOSES | $30,000 |
USC KOREAN STUDIES INSTITUTE PURPOSE: CHARITABLE PURPOSES | $30,000 |