CHUNG FAMILY FOUNDATION: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CHUNG FAMILY FOUNDATION (EIN 32-0549620)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202403209349107750
- Schema version
- 2023v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- Investments Corp Stock Schedule
- Other Expenses Schedule
- Other Increases Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-15T17:52:53-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 474686888 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JC & COMPANY LAW CORPORATION | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10 CORPORATE PARK SUITE 210 | AddressLine1Txt |
| City | IRVINE | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92606 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 320549620 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHUNG FAMILY FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CHUN | BusinessNameControlTxt |
| Phone | 9495531110 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10 CORPORATE PARK STE 210 | AddressLine1Txt |
| City | IRVINE | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92606 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | YONGDUK CHUNG | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 9495531110 | PhoneNum |
| Signature | 2024-11-15 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | false | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | YONGDUK CHUNG | PreparerPersonNm |
| PTIN | P00853212 | PTIN |
| Phone | 9495531110 | PhoneNum |
| Preparation | 2024-11-15 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $5,899 | FMVAssetsEOYAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $300,000 | ContriRcvdRevAndExpnssAmt |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $13,548 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $13,548 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $13,548 | InterestOnSavingsAdjNetIncmAmt |
| Dividends Rev And Expnss | $1,093 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $1,093 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $1,093 | DividendsAdjNetIncmAmt |
| Total Rev And Expnss | $314,641 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $14,641 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $14,641 | TotalAdjNetIncmAmt |
| Accounting Fees Rev And Expnss | $1,000 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Chrtbl Prps | $1,000 | AccountingFeesChrtblPrpsAmt |
| Taxes Rev And Expnss | $6 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $6 | TaxesNetInvstIncmAmt |
| Taxes Adj Net Incm | $6 | TaxesAdjNetIncmAmt |
| Other Expenses Rev And Expnss | $2,650 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $2,650 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Adj Net Incm | $2,650 | OtherExpensesAdjNetIncmAmt |
| Other Expenses Dsbrs Chrtbl | $2,500 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $3,656 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $2,656 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $2,656 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $3,500 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $3,656 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $2,656 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $2,656 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $3,500 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $310,985 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $11,985 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $11,985 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $9,405 | CashBOYAmt |
| Cash EOY | $5,899 | CashEOYAmt |
| Cash EOYFMV | $5,899 | CashEOYFMVAmt |
| Corporate Stock BOY | $500,462 | CorporateStockBOYAmt |
| Corporate Stock EOY | $875,694 | CorporateStockEOYAmt |
| Total Assets BOY | $509,867 | TotalAssetsBOYAmt |
| Total Assets EOY | $881,593 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $5,899 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $10,000 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $10,000 | AccountsPayableEOYAmt |
| Total Liabilities BOY | $10,000 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $10,000 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $499,867 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $871,593 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $499,867 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $871,593 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $509,867 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $881,593 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $499,867 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $310,985 | ExcessRevenueOverExpensesAmt |
| Other Increases | $60,741 | OtherIncreasesAmt |
| Subtotal | $871,593 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $871,593 | TotNetAstOrFundBalancesEOYAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $167 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $167 | SubtotalAmt |
| Tax Based On Investment Income | $167 | TaxBasedOnInvestmentIncomeAmt |
| Tax Due | $167 | TaxDueAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
| Individual With Books | YONGDUK CHUNG | IndividualWithBooksNm |
| Phone | 9495531110 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10 CORPORATE PARK STE 210 | AddressLine1Txt |
| City | IRVINE | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92606 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | YONGDUK CHUNG | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10 CORPORATE PARK STE 210 | AddressLine1Txt |
| City | IRVINE | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92606 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | CEO | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 000.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $0 | CompensationAmt |
| Employee Benefit Program | $0 | EmployeeBenefitProgramAmt |
| Expense Account Other Allwnc | $0 | ExpenseAccountOtherAllwncAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1Txt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $557,792 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $9,300 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $567,092 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $567,092 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $8,506 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $558,586 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $27,929 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $27,929 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $167 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $167 | TotalTaxAmt |
| Distributable Before Adj | $27,762 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $27,762 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $27,762 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $3,500 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $3,500 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $27,762 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $3,289 | UndistributedIncomePYAmt |
| Qualifying Distributions | $3,500 | QualifyingDistributionsAmt |
| Applied To Year1 | $3,289 | AppliedToYear1Amt |
| Applied To Current Year | $211 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $27,551 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
Application Submission Info ApplicationSubmissionInfoGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person | YONGDUK CHUNG | RecipientPersonNm |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10 CORPORATE PARK STE 210 | AddressLine1Txt |
| City | IRVINE | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92606 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Phone | 9495531110 | RecipientPhoneNum |
| Recipient Email Address | JCHUNG@JCLAWCPA.COM | RecipientEmailAddressTxt |
| Form And Info And Materials | N/A | FormAndInfoAndMaterialsTxt |
| Submission Deadlines | N/A | SubmissionDeadlinesTxt |
| Restrictions On Awards | N/A | RestrictionsOnAwardsTxt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $13,548 | RelatedOrExemptFunctionIncmAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $1,093 | RelatedOrExemptFunctionIncmAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | BANK SERVICE FEE REVERSAL | Desc |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $14,641 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $14,641 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ACCOUNTING FEE | CategoryTxt |
| Amt | $1,000 | Amt |
| Disbursements Charitable Prps | $1,000 | DisbursementsCharitablePrpsAmt |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Stock | MORGAN STANLEY | StockNm |
| EOY Book Value | $875,694 | EOYBookValueAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| EXPENSES | ||||
| CHARITABLE ACTIVITIES & DANAT | $2,500 | $2,500 | $2,500 | $2,500 |
| BANK SERVICE CHARGE | $150 | $150 | $150 |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | UNREALIZED CAPITAL GAIN | Desc |
| Amt | $60,741 | Amt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amt | $6 | Amt |
| Net Investment Income | $6 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $6 | AdjustedNetIncomeAmt |