CHI FAMILY FOUNDATION INC: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
CHI FAMILY FOUNDATION INC (EIN 46-4168073)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-04-21
IRS object ID
202541119349100719
Schema version
2024v5.0
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)
Return2025-04-21T15:52:05-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

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 Begin2024-01-01TaxPeriodBeginDt

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
Signature2025-04-21SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonYONG BAE KIMPreparerPersonNm
PTINP00738702PTIN
Phone2014612727PhoneNum
Preparation2025-04-21PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$8,396,532FMVAssetsEOYAmt
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$142,738DividendsRevAndExpnssAmt
Dividends Net Invst Incm$142,738DividendsNetInvstIncmAmt
Total Rev And Expnss$142,738TotalRevAndExpnssAmt
Total Net Invst Incm$142,738TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$2,700AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$2,459TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$57OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$5,216TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$460,558ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$460,558ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$465,774TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$460,558TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$323,036ExcessRevenueOverExpensesAmt
Net Investment Income$142,738NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$301,490CashBOYAmt
Cash EOY$415,899CashEOYAmt
Cash EOYFMV$415,899CashEOYFMVAmt
Corporate Stock BOY$3,091,584CorporateStockBOYAmt
Corporate Stock EOY$2,883,091CorporateStockEOYAmt
Corporate Stock EOYFMV$7,980,633CorporateStockEOYFMVAmt
Total Assets BOY$3,393,074TotalAssetsBOYAmt
Total Assets EOY$3,298,990TotalAssetsEOYAmt
Total Assets EOYFMV$8,396,532TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$3,393,074NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$3,298,990NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$3,393,074TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,298,990TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,393,074TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,298,990TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,393,074TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$323,036ExcessRevenueOverExpensesAmt
Other Increases$228,952OtherIncreasesAmt
Subtotal$3,298,990SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,298,990TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,984InvestmentIncomeExciseTaxAmt
Subtotal$1,984SubtotalAmt
Tax Based On Investment Income$1,984TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,840EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$3,840TotalPaymentsAndCreditsAmt
Overpayment$1,856OverpaymentAmt
Applied To ES Tax$1,856AppliedToESTaxAmt

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 902NAPLESFL34110PRESIDENT1.00$0$0$0
SUNGEUN KIM CHI
265 INDIES WAY 902NAPLESFL34110VICE-PRESIDE1.00$0$0$0
EUNJEONG KIM CHI
57 HODGE RDPRINCETONNJ08540DIRECTOR1.00$0$0$0
SOOJEONG SOPHIA CHI
87 ESSEX AVEMONTCLAIRNJ07042DIRECTOR1.00$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$8,260,111AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$355,676AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$8,615,787TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$8,615,787AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$129,237CashDeemedCharitableAmt
Net Vl Noncharitable Assets$8,486,550NetVlNoncharitableAssetsAmt
Minimum Investment Return$424,328MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$424,328MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,984TaxBasedOnInvestmentIncomeAmt
Total Tax$1,984TotalTaxAmt
Distributable Before Adj$422,344DistributableBeforeAdjAmt
Distributable Before Ded$422,344DistributableBeforeDedAmt
Distributable As Adjusted$422,344DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$460,558ExpensesAndContributionsAmt
Qualifying Distributions$460,558QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$422,344DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$37,499ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$339,163ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$103,240ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$385ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$109,062ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$589,349TotalExcessDistributionCyovAmt
Qualifying Distributions$460,558QualifyingDistributionsAmt
Applied To Current Year$422,344AppliedToCurrentYearAmt
Remaining Distri From Corpus$38,214RemainingDistriFromCorpusAmt
Total Corpus$627,563TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$37,499ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$590,064ExcessDistriCyovToNextYrAmt
Excess From Year4$339,163ExcessFromYear4Amt
Excess From Year3$103,240ExcessFromYear3Amt
Excess From Year2$385ExcessFromYear2Amt
Excess From Year1$109,062ExcessFromYear1Amt
Excess From Current Year$38,214ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (9 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
PHILIPPINES HUMANITARIAN
124 S 400 E SUITE 400SALT LAKE CITYUT84111PCGENERAL PURPOSE$10,500
LAWRENCEVILLE SCHOOL
2500 MAIN STLAWRENCEVILLENJ08648PCGENERAL PURPOSE$10,200
PRINCETON CLASS OF 1983
100 OVERLOOK CENTERPRINCETONNJ08540PCGENERAL PURPOSE$83
BAN KIMOON FOUNDATION USA
112 EAST 71ST STREETNEW YORKNY10021PCGENERAL PURPOSE$96,882APT 2A
PRINCETON UNIVERSITY
100 OVERLOOK CENTERPRINCETONNJ08540PCGENERAL PURPOSE$244,976
FRIENDS OF U OF SURREY USA
1350 AVE OF THE AMERICANEW YORKNY10019PCGENERAL PURPOSE$95,587FL 2 SUITE 266
PRINCETON IN ASIA
C/O GIVE BUTTER 2810NWILMONGTONDE19802PCGENERAL PURPOSE$303CHURCH ST 53748
PAN MASS CHALLENGE
77 4TH AVENUENEEDHAMMA02494PCGENERAL PURPOSE$1,027
VAN SKINNER FOUNDATION
PO BOX 213BAY HEADNJ08742PCGENERAL PURPOSE$1,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$460,558TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$142,738RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$142,738RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$142,738TotalIncomeProducingActyAmt

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$2,700Amt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (10 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
INTEL CORP$11,648$9,544
LVMH MOET HENNESSY LOUIS$57,852$81,028
COCA-COLA CO COM$89,595$142,264
WALT DISNEY CO$174,075$278,375
MICROSOFT CORP$186,100$2,107,500
RELX PLC SPON ADR$240,350$431,490
ENERGY SECTOR SPDR TRUST$307,510$299,810
RELX NV SPON ADR$336,342$1,013,229
RELX NV EUR$449,117$937,613
RELX PLC SPON ADR$1,030,502$2,679,780

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
BANK SERVICE CHARGES$32
DUES AND SUBSCRIPTIONS$25

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescSTOCK DONATION BOOK TAX DIFFDesc
Amt$228,952Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXCategoryTxt
Amt$2,459Amt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.