William And Margaret Kang Foundation
- Assets
- $736.0k
- Revenue
- $214.8k
- Investments
- $575.1k
- Employees
- 0
- Location
- Lynnwood, WA
- Founding
- 10/2018
- Data as of
- 12/2021
- EIN
- 82-4304512
Organization Overview
William And Margaret Kang Foundation is located in Lynnwood, WA. The organization was established in 2018. 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. William And Margaret Kang 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, William And Margaret Kang Foundation generated $214.8k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $38.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE DONATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Kang Officer | 0 | $0 | |
William Kang Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,884 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,893 |
| Capital Gain Net Income | $4,337 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $214,777 |
| 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 | $0 |
| Total operating and administrative expenses | $2,000 |
| Contributions, gifts, grants paid | $36,850 |
| Total expenses and disbursements | $38,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,888 |
| 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 | $736,008 |
| 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, William And Margaret Kang Foundation has awarded $36,850 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
LYOUNG KWON PURPOSE: DONATION | $6,500 |
HYUNSUNG JEONG PURPOSE: DONATION | $5,000 |
HUH JAE-MAN PURPOSE: DONATION | $5,000 |
UNITED PRESBYTERIAN CHURCH OF SEATT PURPOSE: DONATION | $4,600 |
Phoenix, AZ PURPOSE: DONATION | $3,000 |
New York, NY PURPOSE: DONATION | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stolte Family Foundation Seattle, WA | $78,833,189 | $10,332,086 |
The Robert P Rotella Foundation Bellevue, WA | $0 | $9,974 |
Cambia Health Foundation Portland, OR | $95,632,719 | $22,110,074 |
All Alaska Longshore Health And Welfare Trust Fund Portland, OR | $15,094,245 | $10,298,043 |
J R Simplot Foundation Inc Boise, ID | $241,362,659 | $7,582,149 |
Ken Birdwell Foundation Bellevue, WA | $76,202,815 | $4,458,349 |
Rose Foundation Vancouver, WA | $0 | $16,480 |
Apex Foundation Bellevue, WA | $126,367,624 | $451,103 |
Maybelle Clark Macdonald Fund Bend, OR | $136,588,963 | $11,503,848 |
Stewardship Foundation C D A B & W T Weyerhaeuser Ttees Tacoma, WA | $0 | $6,421,793 |
Laura Moore Cunningham Foundation Inc Boise, ID | $9,665,036 | $4,890,131 |
Bullitt Foundation Seattle, WA | $60,942,002 | $1,220,943 |