CHI FAMILY FOUNDATION INC: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
CHI FAMILY FOUNDATION INC (EIN 46-4168073)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-01-30
IRS object ID
202410309349100011
Schema version
2023v4.0
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 ReturnHeader

FieldValueIRS element (for citing)
Return2024-01-30T11:51:13-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN112883955PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1KIM LEE CPAS LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1663 GRAND AVE STE 3AddressLine1Txt
CityRIDGEFIELDCityNm
State AbbreviationNJStateAbbreviationCd
ZIP076571521ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN464168073EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CHI FAMILY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlCHIFBusinessNameControlTxt
Phone6095196519PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O 265 INDIES WAY 902AddressLine1Txt
CityNAPLESCityNm
State AbbreviationFLStateAbbreviationCd
ZIP34110ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonYOUNGSUK CHIPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone6095196519PhoneNum
Signature2024-01-17SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstYOUNGSUKPersonFirstNm
Person LastCHIPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonYONG BAE KIMPreparerPersonNm
PTINP00738702PTIN
Phone2014612727PhoneNum
Preparation2024-01-30PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$7,759,180FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$130,306DividendsRevAndExpnssAmt
Dividends Net Invst Incm$130,306DividendsNetInvstIncmAmt
Total Rev And Expnss$130,306TotalRevAndExpnssAmt
Total Net Invst Incm$130,306TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$2,500AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$2,422TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$92OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$5,014TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$448,924ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$448,924ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$453,938TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$448,924TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$323,632ExcessRevenueOverExpensesAmt
Net Investment Income$130,306NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$220,591CashBOYAmt
Cash EOY$301,490CashEOYAmt
Cash EOYFMV$301,490CashEOYFMVAmt
Corporate Stock BOY$3,329,942CorporateStockBOYAmt
Corporate Stock EOY$3,091,584CorporateStockEOYAmt
Corporate Stock EOYFMV$7,457,690CorporateStockEOYFMVAmt
Total Assets BOY$3,550,533TotalAssetsBOYAmt
Total Assets EOY$3,393,074TotalAssetsEOYAmt
Total Assets EOYFMV$7,759,180TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$3,550,533NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$3,393,074NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$3,550,533TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,393,074TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,550,533TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,393,074TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,550,533TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$323,632ExcessRevenueOverExpensesAmt
Other Increases$166,173OtherIncreasesAmt
Subtotal$3,393,074SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,393,074TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,811InvestmentIncomeExciseTaxAmt
Subtotal$1,811SubtotalAmt
Tax Based On Investment Income$1,811TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,651EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$3,651TotalPaymentsAndCreditsAmt
Overpayment$1,840OverpaymentAmt
Applied To ES Tax$1,840AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksYOUNGSUK CHIIndividualWithBooksNm
Phone6095196519PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1265 INDIES WAY 902AddressLine1Txt
CityNAPLESCityNm
State AbbreviationFLStateAbbreviationCd
ZIP34110ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
YOUNGSUK CHI
265 INDIES WAY 902NAPLESFL34110PRESIDENT000.00$0$0$0
SUNGEUN KIM CHI
265 INDIES WAY 902NAPLESFL34110VICE-PRESIDE000.00$0$0$0
EUNJEONG KIM CHI
57 HODGE RDPRINCETONNJ08540DIRECTOR000.00$0$0$0
SOOJEONG SOPHIA CHI
6 PIERREPONT ST 4BNEW YORKNY11201DIRECTOR000.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$6,682,554AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$254,978AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$6,937,532TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$6,937,532AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$104,063CashDeemedCharitableAmt
Net Vl Noncharitable Assets$6,833,469NetVlNoncharitableAssetsAmt
Minimum Investment Return$341,673MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$341,673MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,811TaxBasedOnInvestmentIncomeAmt
Total Tax$1,811TotalTaxAmt
Distributable Before Adj$339,862DistributableBeforeAdjAmt
Distributable Before Ded$339,862DistributableBeforeDedAmt
Distributable As Adjusted$339,862DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$448,924ExpensesAndContributionsAmt
Qualifying Distributions$448,924QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$339,862DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$10,283ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$37,499ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$339,163ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$103,240ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$385ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$490,570TotalExcessDistributionCyovAmt
Qualifying Distributions$448,924QualifyingDistributionsAmt
Applied To Current Year$339,862AppliedToCurrentYearAmt
Remaining Distri From Corpus$109,062RemainingDistriFromCorpusAmt
Total Corpus$599,632TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$10,283ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$589,349ExcessDistriCyovToNextYrAmt
Excess From Year4$37,499ExcessFromYear4Amt
Excess From Year3$339,163ExcessFromYear3Amt
Excess From Year2$103,240ExcessFromYear2Amt
Excess From Year1$385ExcessFromYear1Amt
Excess From Current Year$109,062ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerYOUNGSUK CHIContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (12 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
NEPM FDN FOR BRAIN RESEARCH
29 MILLFARM LANESOUTHAMPTONNY11968PCGENERAL PURPOSE$10,000
ASIAN AMERICAN ALUM ASSO OF PRINCE
100 OVERLOOK CENTERPRINCETONNJ08540PCGENERAL PURPOSE$80
PHILIPPINES HUMANITARIAN
124 S 400 E SUITE 400SALT LAKE CITYUT84111PCGENERAL PURPOSE$10,000
625 FDN
C/O 157 ROUTE 315RUPERTVT05768PCGENERAL PURPOSE$20,000
COVENANT HOUSE
330 WASHINGTON STNEWARKNJ07102PCGENERAL PURPOSE$1,000
LAWRENCEVILLE SCHOOL
2500 MAIN STLAWRENCEVILLENJ08648PCGENERAL PURPOSE$1,200
MICHAEL J FOX FOUNDATION
PO BOX 5014HAGERSTOWNMD21741PCGENERAL PURPOSE$1,030
LPGA FOUNDATION
100 INTERNATIONAL GOLF DRDAYTONA BEACHFL32124PCGENERAL PURPOSE$1,000
PRINCETON CLASS OF 1983
100 OVERLOOK CENTERPRINCETONNJ08540PCGENERAL PURPOSE$83
BAN KIMOON FOUNDATION USA
112 EAST 71ST STREETNEW YORKNY10021PCGENERAL PURPOSE$100,019APT 2A
PRINCETON UNIVERSITY
100 OVERLOOK CENTERPRINCETONNJ08540PCGENERAL PURPOSE$203,684
FRIENDS OF U OF SURREY USA
1350 AVE OF THE AMERICANEW YORKNY10019PCGENERAL PURPOSE$100,828FL 2 SUITE 266
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$448,924TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$130,306RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$130,306RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$130,306TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEECategoryTxt
Amt$2,500Amt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (10 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
INTEL CORP$11,648$23,919
LVMH MOET HENNESSY LOUIS$57,852$100,719
COCA-COLA CO COM$89,595$134,655
WALT DISNEY CO$174,075$225,725
MICROSOFT CORP$186,100$1,880,200
RELX PLC SPON ADR$240,350$376,770
ENERGY SECTOR SPDR TRUST$307,510$293,440
RELX NV SPON ADR$336,342$884,735
RELX NV EUR$657,610$1,197,587
RELX PLC SPON ADR$1,030,502$2,339,940

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
BANK SERVICE CHARGES$67
DUES AND SUBSCRIPTIONS$25

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescSTOCK DONATION BOOK TAX DIFFDesc
Amt$166,173Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXCategoryTxt
Amt$2,422Amt

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