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H U Lee Memorial Foundation

Tax-deductible

Little Rock, AR501(c)(3)EducationEIN 71-0696757

To award scholarships to qualified students for taekwondo and to further the principles of taekwondo set forth by grand master h u lee.

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $13K a year · 26% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
152 mo
of spending, in cash
Looks good: 151.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$95K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$76K
-21% vs prior year
Spent
$44K
To programs
67%
Net assets
$477K
By yearFY2020–FY2024
Revenue
$76K
FY2024▼ -21%
Revenue by fiscal year
FY2020$17K
FY2021$45K
FY2022$15K
FY2023$96K
FY2024$76K
Expenses
$44K
FY2024▼ -31%
Expenses by fiscal year
FY2020$15K
FY2021$39K
FY2022$24K
FY2023$64K
FY2024$44K
Net assets
$477K
FY2024▲ +7%
Net assets by fiscal year
FY2020$415K
FY2021$421K
FY2022$412K
FY2023$444K
FY2024$477K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2000.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $30K Management & general 29% · $13K Fundraising 3% · $1K

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Sun C Lee
Chairman
$0Pt VII · Sec A
Lucas Lee
Advisory Committee Member
$0Pt VII · Sec A
Linus Raines
Advisory Committee Member
$0Pt VII · Sec A
Zach Rodgers
Advisory Committee Member
$0Pt VII · Sec A
Lisa Lee
Advisory Committee Member
$0Pt VII · Sec A
See H U Lee Memorial 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 15aYes

Programs and updates

Awards scholarships to students for Taekwondo and promotes its principles.

Provided by the organization

This section is blank until H U Lee Memorial Foundation claims this page.

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1 program service account for $30K of program spending, described in the organization's own filed words · FY2024.
01

Scholarships granted to qualified students

$30Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $148K · 2020–2024
Unitemized GrantFY2024$29,571
Unitemized GrantFY2023$49,283
Unitemized GrantFY2022$20,337
Unitemized GrantFY2021$36,497
Unitemized GrantFY2020$12,214

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$76K
Ln 12
Gifts and grantsLn 1h$59K
Investment incomeLn 3$17K
Money outPt IX
$44K
Ln 25
Programscol B$30K
Managementcol C$13K
Fundraisingcol D$1K
Owns and owesPt X
$477K
net assets · Ln 32
Cash and savingsLn 1–2$556K
Total assetsLn 16$572K
LiabilitiesLn 26$95K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$59K
Investment incomeLn 3$17K
Total revenueLn 12$76K
Assets in detailPt X, end of year
CashLn 1$556K
Cash and savings togetherLn 1–2$556K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$572K
LiabilitiesLn 26$95K
Net assetsLn 32$477K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$523K$556K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$546K$572K
LiabilitiesLn 26$102K$95K
Net assetsLn 32$444K$477K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$30K$30K
Other fees for servicesLn 11g$12K$12K
Office expensesLn 13$872$872
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$44K$30K$13K$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $76K$44K$32K$477K 990 PDF
FY2023 $96K$64K$32K$444K 990 PDF
FY2022 $15K$24K−$9K$412K 990 PDF
FY2021 $45K$39K$5K$421K 990 PDF
FY2020 $17K$15K$2K$415K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $76,292 across 4 lines filed
VIII-1f All other contributions, gifts and grants$59,492
VIII-1h Total contributions, gifts and grants$59,492
VIII-3 Investment incomeExcluded from tax $16,800$16,800
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $16,800$76,292
Part IX · Statement of functional expenses $43,905 across 4 lines filed
IX-2 Grants to domestic individualsPrograms $29,571$29,571
IX-11g Other fees for servicesManagement $12,000$12,000
IX-13 Office expensesManagement $872$872
IX-24 Other expenses (24a–d)Fundraising $1,462$1,462
IX-25 Total functional expensesPrograms $29,571 · Management $12,872 · Fundraising $1,462$43,905
Part X · Balance sheet $571,539 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $522,705$555,946
X-4 Accounts receivableStart of year $23,424$15,593
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $546,129$571,539
X-17 Accounts payable and accrued expensesStart of year $101,715$94,738
X-26 Total liabilitiesStart of year $101,715$94,738
X-27 Net assets without donor restrictionsStart of year $444,414$476,801
X-32 Total net assets or fund balancesStart of year $444,414$476,801
X-33 Total liabilities and net assetsStart of year $546,129$571,539
Part XI · Reconciliation of net assets $476,801 net assets at year end
XI-1 Total revenue$76,292
XI-2 Total expenses$43,905
XI-3 Revenue less expenses$32,387
XI-4 Net assets at start of year$444,414
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$476,801

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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