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K J Choi Foundation FY2020 filing

Tax-deductible

Westlake, TX501(c)(3)International EIN 38-4065282Revenue $833K in FY2020

On file with the IRS2205 Vaquero Estates Blvd, 76262-4825 · Westlake, TXTax-exempt since Feb 2019Publicly supported charity — 170(b)(1)(A)(vi)

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To contribute in the development of our underprivileged youth by providing them opportunities and educational experiences.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $115K a year · 28% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Plus $653K in investments, Pt X · Ln 11–13
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$68K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$833K
Spent
$304K
To programs
96%
Net assets
$663K
By yearFY2020–FY2024
Revenue
$833K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$833K
FY2021$258K
FY2022$280K
FY2023$373K
FY2024$338K
Expenses
$304K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$304K
FY2021$215K
FY2022$289K
FY2023$387K
FY2024$311K
Net assets
$663K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$663K
FY2021$706K
FY2022$701K
FY2023$688K
FY2024$716K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $292K Management & general 4% · $12K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Hyun Jung Choi
Vice President
$0Pt VII · Sec A
Bongryong Kim
Secretary
$0Pt VII · Sec A
See K J Choi Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Empowers underprivileged youth through educational opportunities and developmental experiences.

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Provided by the organization

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3 programs · $191K · in their own filed words · FY2020
01

Support non profit organizations both foreign and domestic whose mission & values allign with the KJ choi foundation.

$111Kprogram expense
02

Provide support to other charitable organizations to host youth golf tournaments.

$80Kprogram expense
03

Provide entry fees to youth golf tournaments for less fortunate young golfers.

$750program expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Kwon S Foundation INCFY2025$11K
Total grants receivedfrom 1 funder$11K
Grants paid · 7 grants · $399K · 2020–2023
American Junior Golf Association INCGA · FY2023$140,000
NJ Onnuri Community ChurhFY2023$30,000
American Junior Golf Association INCGA · FY2022$44,675
American Junior Golf Association INCGA · FY2021$94,812
American Junior Golf Association INCGA · FY2020$80,000
Odessa College GolfFY2020$5,000
Keller High SchoolFY2020$5,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$833K
Ln 12
Gifts and grantsLn 1h$810K
Investment incomeLn 3$22K
Money outPt IX
$304K
Ln 25
Programscol B$292K
Managementcol C$12K
Owns and owesPt X
$663K
net assets · Ln 32
Cash and savingsLn 1–2$78K
Total assetsLn 16$731K
LiabilitiesLn 26$68K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$810K
Investment incomeLn 3$22K
Gains on assetsLn 7$10K
Total revenueLn 12$833K
Assets in detailPt X, end of year
CashLn 1$56K
SavingsLn 2$22K
Cash and savings togetherLn 1–2$78K
InvestmentsLn 11–13$653K
Total assetsLn 16$731K
LiabilitiesLn 26$68K
Net assetsLn 32$663K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$138K$78K
InvestmentsLn 11–13$653K
Total assetsLn 16$138K$731K
LiabilitiesLn 26$54K$68K
Net assetsLn 32$84K$663K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$91K$91K
Grants and assistance to foreign recipientsLn 3$100K$100K
Accounting feesLn 11c$6K$6K
Office expensesLn 13$6K$6K
OccupancyLn 16$19K$19K
TravelLn 17$66K$66K
Other expenses (24a–d)Ln 24$16K$16K$246
Total functional expensesLn 25$304K$292K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $338K$311K$28K$716K 990 PDF
FY2023 $373K$387K−$13K$688K 990 PDF
FY2022 $280K$289K−$9K$701K 990 PDF
FY2021 $258K$215K$43K$706K 990 PDF
FY2020 Viewing $833K$304K$529K$663K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $832,780 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $232,482$810,374
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $3$22,406
I-11 Other revenuePrior year −$13,917$0
I-12 Total revenuePrior year $218,568$832,780
I-13 Grants and similar amounts paidPrior year $69,752$191,104
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $64,935$113,060
I-18 Total expensesPrior year $134,687$304,164
I-19 Revenue less expensesPrior year $83,881$528,616
Part VI · Governance 3 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $832,780 across 5 lines filed
VIII-1f All other contributions, gifts and grants$810,374
VIII-1h Total contributions, gifts and grants$810,374
VIII-3 Investment incomeExcluded from tax $12,853$12,853
VIII-7 Net gain or loss on sales of assetsRelated to mission $9,553$9,553
VIII-12 Total revenueRelated to mission $9,553 · Unrelated business $0 · Excluded from tax $12,853$832,780
Part IX · Statement of functional expenses $304,164 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $91,104$91,104
IX-3 Grants and assistance to foreign recipientsPrograms $100,000$100,000
IX-11c Accounting feesManagement $5,700$5,700
IX-13 Office expensesManagement $6,197$6,197
IX-16 OccupancyPrograms $19,017$19,017
IX-17 TravelPrograms $66,014$66,014
IX-24 Other expenses (24a–d)Programs $15,886 · Management $246$16,132
IX-25 Total functional expensesPrograms $292,021 · Management $12,143 · Fundraising $0$304,164
Part X · Balance sheet $730,758 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $117,740$55,744
X-2 Savings and temporary cash investmentsStart of year $20,005$22,406
X-11 Publicly traded securities$652,608
X-16 Total assetsStart of year $137,745$730,758
X-17 Accounts payable and accrued expensesStart of year $2,897$23,394
X-26 Total liabilitiesStart of year $53,864$67,680
X-32 Total net assets or fund balancesStart of year $83,881$663,078
X-33 Total liabilities and net assetsStart of year $137,745$730,758
Part XI · Reconciliation of net assets $663,078 net assets at year end
XI-1 Total revenue$832,780
XI-2 Total expenses$304,164
XI-3 Revenue less expenses$528,616
XI-4 Net assets at start of year$83,881
XI-5 Net unrealized gains (losses) on investments$50,581
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$663,078

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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