Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
94 cents of each dollar spent went to programs.
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.
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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
Advocates for Korean-American social justice, education, and cultural heritage, promoting equitable treatment for all disadvantaged communities.
Questions for Nae Il Foundation Ltd
Your first name shows with your question. Nae Il Foundation Ltd answers here, for everyone.
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At the onset of the outbreak of coronavirus (COVID-19) in 2020, new york city became the epicenter of the pandemic in the united states. The foundation immediately secured and donated critically-necessary personal protective equipment (ppe) to new york city regional korean american organizations, hospitals, nursing homes, and to korean…
To ensure korean american participation in the 2020 census and the presidential elections, the foundation sponsored the launch of ka vote, a non-partisan, multi-generational task force made up of nearly 60 regional and national korean american organizations to increase korean american civic engagement and representation.
Recognizing the significance of the 70TH anniversary of the korean war (june 25, 1950 - july 27, 1953) and its impact on the korean identity and diaspora, the foundation funded the creation of a website dedicated to honoring korean war veterans around the world and in the united states while educating the public about the korean war.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $0 | $19K |
| InvestmentsLn 11–13 | $0 | $39.1M |
| Total assetsLn 16 | $0 | $39.6M |
| LiabilitiesLn 26 | $0 | $0 |
| Net assetsLn 32 | $0 | $39.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $575K | $575K | ||
| Legal feesLn 11b | $41K | $41K | ||
| Other fees for servicesLn 11g | $20K | $20K | ||
| Office expensesLn 13 | $182 | $182 | ||
| Information technologyLn 14 | $32K | $32K | ||
| Total functional expensesLn 25 | $667K | $627K | $41K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | −$168K | $420K | −$588K | $46.0M | 990 PDF |
| FY2023 | $1.6M | $468K | $1.1M | $39.0M | 990 PDF |
| FY2022 | $709K | $430K | $279K | $38.0M | 990 PDF |
| FY2021 | $11.6M | $426K | $11.2M | $50.8M | 990 PDF |
| FY2020 Viewing | $40.2M | $667K | $39.6M | $39.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $40,243,451 revenue, 12 lines filed
Part VI · Governance 3 of 3 board members independent, 4 to look at
Part VIII · Statement of revenue $40,243,451 across 6 lines filed
Part IX · Statement of functional expenses $667,442 across 5 lines filed
Part X · Balance sheet $39,576,009 assets, 8 lines filed
Part XI · Reconciliation of net assets $39,576,009 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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