Kwon Foundation INC EIN 47-5267415 Form 990 (PDF) Claim this org

Kwon Foundation INC FY2022 filing

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A private foundation based in Port Washington, NY. It reported about $3.9M in revenue for 2022. For fiscal year 2022 it reported $3.9M in revenue, $270K in expenses, and $-2.7M in net assets.Pt I

Type
Private foundation / grantmaker · Education
Location
Port Washington, NY
Filings
5 on file (2021–2022)
Revenue
$3.9MFY2022
Expenses
$270K
Net assets
$-2.7M
People
0
Filings
5
Updates
0
More identity details & actions ⌄
EIN  47-5267415 Private foundation / grantmaker Port Washington, NY
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →
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Size
$1–10M
What they do
A private foundation based in Port Washington, NY. It reported about $3.9M in revenue for 2022.
Money in and out
$3.9M revenue, $270K expenses
Bottom line
Grants paid & assets · FY2022
Total revenue
$3.9M
Pt VIII · Ln 12
Total expenses
$270K
Pt IX · Ln 25
Net assets
$-2.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $3.6M
Total assets
175K
deployed as grants and operations
Grants paid
57K
in FY2022
Grants made
27grants
total in period
Payout rate
33%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 27 grants · $72K · 2025–2025
Korean American Scholarship FoundatFY2025$28,000
International Foundation for Skk UnFY2025$13,000
Stump Mission Ny INCFY2025$5,500
Light & Love Ny INCFY2025$4,500
Tree of Life Presbyt ChurchFY2025$3,000
Korean American Scholarship FoundatFY2025$3,000
Yale Presyterian ChurchFY2025$2,600
Pinehurst FoundationFY2025$2,000
Oregon Women Prison MinistryFY2025$1,500
Pres Rhee Syngman Memorial AssocFY2025$1,000
Ohio Northern UniversityFY2025$1,000
New Brunswick Theology SeminaryFY2025$1,000
Korean Chinese Mission ChurchFY2025$1,000
Korean Alumni Assoc of Nbts INCFY2025$1,000
Inca MissionFY2025$1,000
Denver SeminaryFY2025$1,000
Global Children's FoundationFY2025$500
Dong Duk Girl's High School AlumniFY2025$500
See all 27 grants →

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$3K
Median grantPart XV$1K
Largest grantPart XV$28K

Summary of the Filing

Part I · fiscal year 2022 · Form 990-PF
Revenue
$3.9M
FY2022▲ ×87
Expenses
$270K
FY2022▲ +493%
Total assets
$175K
FY2022▲ ×96
Total liabilities
$2.9M
FY2022
Total revenue
$3.9M
Pt VIII · Ln 12
Total expenses
$270K
Pt IX · Ln 25
Net assets
$-2.7M
Pt X · Ln 32
Total assetsPt II$175K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CKwon Foundation INC
EINHdr · item D47-5267415
Principal addressHdr · item CPort Washington, NY
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFJun 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Officers, directors & key employeesPt VII · Sec ANot reported
See Kwon Foundation INC executive salaries →

Statement of Revenue

Part VIII
Contributions & grants$3.7M · 95%
Other revenue$180K · 5%
Contributions & grants95%$3.7M
Other revenue5%$180K
Total revenueLn 12$3.9M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.21 Operating & administrative $0.79
Grants & contributions paid21%$57K
Operating & administrative79%$213K
Total functional expensesLn 25$270K

Balance Sheet

Part X · end of year
CashLn 1$71K
Total assetsLn 16$175K
Total liabilitiesLn 26$2.9M
Total net assetsLn 32$-2.7M
Months of cash on handcomputed3.1

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $175K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $3.9M
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $3.9M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $3.9M · Prior year $45K
×87
Net-asset trend (YoY)
End of year $-2.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.9M · Expenses $270K
+93%
Liabilities-to-Assets
Total liabilities — · Total assets $175K
Net-asset ratio
Net assets $-2.7M · Total assets $175K
-1526%
People & payroll
Highest Reported Total Compensation
Individual — · Reported title — · Highest reported compensation — · Total expenses $270K
No individual compensation reported on this filing
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth ×87

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$419K revenue · ⤓ 990 PDF
FY2024$406K revenue · ⤓ 990 PDF
FY2023$333K revenue · ⤓ 990 PDF
FY2022$3.9M revenue · viewing · ⤓ 990 PDF
FY2021$45K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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