SBU Educational Foundation: Form 990PF, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- SBU Educational Foundation (EIN 47-4158306)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-08-07
- IRS object ID
- 201802199349100525
- Schema version
- 2017v2.2
- 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
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-08-07T14:35:07-07:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Joseph S Ro CPA Inc | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9618 Garden Grove Blvd Ste 211 | AddressLine1Txt |
| City | Garden Grove | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92844 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 474158306 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SBU Educational Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SBUE | BusinessNameControlTxt |
| Phone | 7147973737 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2727 W 6th Street | AddressLine1Txt |
| City | Los Angeles | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90057 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID KWON | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 7147973737 | PhoneNum |
| Signature | 2018-08-01 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOSEPH RO | PreparerPersonNm |
| PTIN | P00400582 | PTIN |
| Phone | 7145379500 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $783,114 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Total Rev And Expnss | $0 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $0 | TotalNetInvstIncmAmt |
| Accounting Fees Rev And Expnss | $4,465 | AccountingFeesRevAndExpnssAmt |
| Other Prof Fees Rev And Expnss | $100 | OtherProfFeesRevAndExpnssAmt |
| Taxes Rev And Expnss | $10 | TaxesRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $30 | OtherExpensesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $4,605 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $558,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $558,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $562,605 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $558,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$562,605 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $1,225,719 | CashBOYAmt |
| Cash EOY | $466,666 | CashEOYAmt |
| Cash EOYFMV | $466,666 | CashEOYFMVAmt |
| Grants Receivable EOY | $100,000 | GrantsReceivableEOYAmt |
| Grants Receivable EOYFMV | $100,000 | GrantsReceivableEOYFMVAmt |
| Rcvbl From Officers BOY | $120,000 | RcvblFromOfficersBOYAmt |
| Prepaid Expenses EOY | $16,448 | PrepaidExpensesEOYAmt |
| Prepaid Expenses EOYFMV | $16,448 | PrepaidExpensesEOYFMVAmt |
| Corporate Stock EOY | $200,000 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $200,000 | CorporateStockEOYFMVAmt |
| Total Assets BOY | $1,345,719 | TotalAssetsBOYAmt |
| Total Assets EOY | $783,114 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $783,114 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
| Unrestricted BOY | $1,345,719 | UnrestrictedBOYAmt |
| Unrestricted EOY | $783,114 | UnrestrictedEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $1,345,719 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $783,114 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $1,345,719 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $783,114 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $1,345,719 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$562,605 | ExcessRevenueOverExpensesAmt |
| Subtotal | $783,114 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $783,114 | TotNetAstOrFundBalancesEOYAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Adjusted Qlfy Distri Yr1 | $231,000 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $709,555 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.325556 | DistributionYr1Rt |
| Total Distribution | 0.325556 | TotalDistributionRt |
| Average Distribution | 0.325556 | AverageDistributionRt |
| Adj Nonchrtbl Net Invst Incm Pct | $0 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $558,000 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Domestic Org Meeting Sect4940e | Yes (X) | DomesticOrgMeetingSect4940eInd |
| Investment Income Excise Tax | $0 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Tax Based On Investment Income | $0 | TaxBasedOnInvestmentIncomeAmt |
| Applied To ES Tax | $0 | AppliedToESTaxAmt |
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 | false | 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 | Yes (true) | 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 | DAVID PARK | IndividualWithBooksNm |
| Phone | 7145333946 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 721 N Euclid St | AddressLine1Txt |
| City | Anaheim | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92801 | 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 |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| 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 |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| DAVID KWON | ||||||||
| 2727 W 6th St | Los Angeles | CA | 90057 | President | 10.00 | $0 | $0 | $0 |
| DAVID PARK | ||||||||
| 200 S Windsor Blvd | Los Angeles | CA | 90004 | Secretary | 10.00 | $0 | $0 | $0 |
| MARIA MOON | ||||||||
| 535 S Hobart Blvd | Los Angeles | CA | 90020 | CFO | 10.00 | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | Made donations for shcolarship or grant fund tonon-profit organizations exempted under IRC 501(c)(3). | Description1Txt |
| Expenses1 | $558,000 | Expenses1Amt |
| Expenses2 | $0 | Expenses2Amt |
| Expenses3 | $0 | Expenses3Amt |
| Expenses4 | $0 | Expenses4Amt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $0 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $0 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $0 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $0 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $0 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $0 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $0 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $558,000 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $558,000 | QualifyingDistributionsAmt |
| Adjusted Qualifying Distri | $558,000 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $0 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr1 | $190,228 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $190,228 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $558,000 | QualifyingDistributionsAmt |
| Remaining Distri From Corpus | $558,000 | RemainingDistriFromCorpusAmt |
| Total Corpus | $748,228 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $748,228 | ExcessDistriCyovToNextYrAmt |
| Excess From Year1 | $190,228 | ExcessFromYear1Amt |
| Excess From Current Year | $558,000 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (4 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| Seed USA Ministry Inc | ||||||
| 14545 Valley View Ave | Santa Fe Springs | CA | 90670 | 501(c)(3)active | Donation | $2,000 |
| South Baylo University | ||||||
| 1126 N Brookhurst St | Anaheim | CA | 92801 | 501(c)(3)active | ScholarshipGrant or | $470,000 |
| Yonsei University Alumni Association | ||||||
| 3850 Wilshire Blvd 350 | Los Angeles | CA | 90010 | 501(c)(3)active | ScholarshipGrant or | $15,000 |
| Han Eol(Han Spirit) Institute | ||||||
| 2727 W 6th St 109 | Los Angeles | CA | 90057 | 501(c)(3)active | DonationsGrant or | $71,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $558,000 | TotalGrantOrContriPdDurYrAmt |
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 | Joseph S Ro CPA Inc Accounting/tax | CategoryTxt |
| Amt | $4,465 | Amt |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Stock | Hoon-Min Jeong Um, Inc. | StockNm |
| EOY Book Value | $200,000 | EOYBookValueAmt |
| EOYFMV | $200,000 | EOYFMVAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Bank charges | Desc |
| Revenue And Expenses Per Books | $30 | RevenueAndExpensesPerBooksAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | FTB filing fee | CategoryTxt |
| Amt | $10 | Amt |