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M & J Resources Foundation FY2022 filing

Tax-deductible

Torrance, CA501(c)(3)Arts & Culture EIN 87-4267294Revenue $211K in FY2022

On file with the IRS23214 Ocean Ave, 90505-3532 · Torrance, CATax-exempt since Jul 2022Private non-operating foundation

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To serve the community in needs

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
2 of 2
filings with a surplus
Average surplus $73K a year · 59% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 24.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$211K
Spent
$70K
To programs
100%
Net assets
$141K
By yearFY2022–FY2024
Revenue
$211K
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$211K
FY2024$38K
Expenses
$70K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2022$70K
FY2024$33K
Net assets
$141K
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$141K
FY2024$168K

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 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 Jul 2022.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $70K

Form 990 Part IX, line 25. 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
Jae Eun Min
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Mankee Min
President
$0Pt VII · Sec A
See M & J Resources 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides essential services to community members facing hardship.

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Provided by the organization

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1 program · $70K · in their own filed words · FY2022
01

To serve the community in needs

$70Kprogram expense

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 · 10 grants · $93K · 2022–2024
Good Community ChurchFY2024$6,500
Individual RecipientFY2024$6,000
Youstar FoundationCA · FY2024$5,000
Individual RecipientFY2024$4,000
Individual RecipientFY2024$3,000
Jubilee Presbyterian ChurchFY2024$1,500
KitaFY2024$1,200
Formosa Presbyterian ChurchFY2024$1,000
Individual RecipientFY2024$300
Unitemized GrantFY2022$64,233

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$211K
Ln 12
Gifts and grantsLn 1h$211K
Money outPt IX
$70K
Ln 25
Programscol B$70K
Owns and owesPt X
$141K
net assets · Ln 32
Cash and savingsLn 1–2$141K
Total assetsLn 16$141K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$211K
Total revenueLn 12$211K
Assets in detailPt X, end of year
CashLn 1$41K
SavingsLn 2$100K
Cash and savings togetherLn 1–2$141K
Total assetsLn 16$141K
LiabilitiesLn 26$0
Net assetsLn 32$141K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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 FY22End FY22
Cash and savingsLn 1–2$141K
Total assetsLn 16$0$141K
LiabilitiesLn 26$0$0
Net assetsLn 32$0$141K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$64K$64K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$44$44
TravelLn 17$1K$1K
InsuranceLn 23$604$604
Total functional expensesLn 25$70K$70K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $38K$33K$5K$168K 990 PDF
FY2023 Not on file
FY2022 Viewing $211K$70K$141K$141K 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 O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $211,000 revenue, 12 lines filed
I-8 Contributions and grants$211,000
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$211,000
I-13 Grants and similar amounts paid$64,233
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$5,834
I-18 Total expenses$70,067
I-19 Revenue less expenses$140,933
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $211,000 across 3 lines filed
VIII-1f All other contributions, gifts and grants$211,000
VIII-1h Total contributions, gifts and grants$211,000
VIII-12 Total revenue$211,000
Part IX · Statement of functional expenses $70,067 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $64,233$64,233
IX-11c Accounting feesPrograms $4,000$4,000
IX-11g Other fees for servicesPrograms $44$44
IX-17 TravelPrograms $1,186$1,186
IX-23 InsurancePrograms $604$604
IX-25 Total functional expensesPrograms $70,067 · Management $0 · Fundraising $0$70,067
Part X · Balance sheet $140,933 assets, 7 lines filed
X-1 Cash, non-interest-bearing$40,933
X-2 Savings and temporary cash investments$100,000
X-16 Total assetsStart of year $0$140,933
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictions$140,933
X-32 Total net assets or fund balancesStart of year $0$140,933
X-33 Total liabilities and net assetsStart of year $0$140,933
Part XI · Reconciliation of net assets $140,933 net assets at year end
XI-1 Total revenue$211,000
XI-2 Total expenses$70,067
XI-3 Revenue less expenses$140,933
XI-10 Net assets at end of year$140,933

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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