CHI FAMILY FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
CHI FAMILY FOUNDATION INC (EIN 46-4168073)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-05-01
IRS object ID
202341219349100924
Schema version
2022v5.0
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)
Return2023-05-01T09:51:35-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

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 Begin2022-01-01TaxPeriodBeginDt

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
Signature2023-04-24SignatureDt
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
Preparation2023-05-01PreparationDt
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$5,864,754FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$20ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$117,891DividendsRevAndExpnssAmt
Dividends Net Invst Incm$117,891DividendsNetInvstIncmAmt
Total Rev And Expnss$117,911TotalRevAndExpnssAmt
Total Net Invst Incm$117,891TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$2,250AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$3,261TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$225OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$5,736TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$314,107ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$314,107ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$319,843TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$314,107TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$201,932ExcessRevenueOverExpensesAmt
Net Investment Income$117,891NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$223,161CashBOYAmt
Cash EOY$220,591CashEOYAmt
Cash EOYFMV$220,591CashEOYFMVAmt
Corporate Stock BOY$3,458,710CorporateStockBOYAmt
Corporate Stock EOY$3,329,942CorporateStockEOYAmt
Corporate Stock EOYFMV$5,644,163CorporateStockEOYFMVAmt
Total Assets BOY$3,681,871TotalAssetsBOYAmt
Total Assets EOY$3,550,533TotalAssetsEOYAmt
Total Assets EOYFMV$5,864,754TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$3,681,871NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$3,550,533NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$3,681,871TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,550,533TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,681,871TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,550,533TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,681,871TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$201,932ExcessRevenueOverExpensesAmt
Other Increases$70,594OtherIncreasesAmt
Subtotal$3,550,533SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,550,533TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,639InvestmentIncomeExciseTaxAmt
Subtotal$1,639SubtotalAmt
Tax Based On Investment Income$1,639TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,290EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$3,290TotalPaymentsAndCreditsAmt
Overpayment$1,651OverpaymentAmt
Applied To ES Tax$1,651AppliedToESTaxAmt

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
6 PIERREPONT ST 4BNEW YORKNY11201DIRECTOR1.00$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$6,138,199AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$265,061AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$6,403,260TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$6,403,260AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$96,049CashDeemedCharitableAmt
Net Vl Noncharitable Assets$6,307,211NetVlNoncharitableAssetsAmt
Minimum Investment Return$315,361MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$315,361MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,639TaxBasedOnInvestmentIncomeAmt
Total Tax$1,639TotalTaxAmt
Distributable Before Adj$313,722DistributableBeforeAdjAmt
Distributable Before Ded$313,722DistributableBeforeDedAmt
Distributable As Adjusted$313,722DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$314,107ExpensesAndContributionsAmt
Qualifying Distributions$314,107QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$313,722DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$13,425ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$10,283ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$37,499ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$339,163ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$103,240ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$503,610TotalExcessDistributionCyovAmt
Qualifying Distributions$314,107QualifyingDistributionsAmt
Applied To Current Year$313,722AppliedToCurrentYearAmt
Remaining Distri From Corpus$385RemainingDistriFromCorpusAmt
Total Corpus$503,995TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$13,425ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$490,570ExcessDistriCyovToNextYrAmt
Excess From Year4$10,283ExcessFromYear4Amt
Excess From Year3$37,499ExcessFromYear3Amt
Excess From Year2$339,163ExcessFromYear2Amt
Excess From Year1$103,240ExcessFromYear1Amt
Excess From Current Year$385ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (8 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
CHINESE FOR AFFIRMATIVE ACTIVATION
17 WALTER U LUM PLSAN FRANCISCOCA94108PCGENERAL PURPOSE$25
TTEES LAWRENCEVILLE SCHOOL
2500 MAIN STLAWRENCEVILLENJ08648PCGENERAL PURPOSE$1,200
COLORECTAL CANCER ALLIANCE
1025 VERMONT AVENUE NWWASHINGTONDC20005PCGENERAL PURPOSE$1,000SUITE 1066
MADISION SQUARE PARK
11 MADISION AVENUENEW YORKNY10010PCGENERAL PURPOSE$7,50015TH FLOOR
FORE HIRE
23536 W JUPTIER COURTDEER PARKIL60010PCGENERAL PURPOSE$5,000
FOUNDATION FOR THE BAN KI-MOON
112 EAST 71STREETNEW YORKNY10021PCGENERAL PURPOSE$100,000APT 2A
PRINCETON UNIVERSITY
100 OVERLOOK CENTERPRINCETONNJ08540PCGENERAL PURPOSE$20SUITE 300
PRINCETON UNIVERSITY
100 OVERLOOK CENTERPRINCETONNJ08540PCGENERAL PURPOSE$199,362SUITE 300
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$314,107TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$117,891RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$117,891RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$117,891TotalIncomeProducingActyAmt

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$2,250Amt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (10 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
INTEL CORP$11,648$12,581
LVMH MOET HENNESSY LOUIS$57,852$89,819
COCA-COLA CO COM$156,840$254,440
WALT DISNEY CO$174,075$217,200
MICROSOFT CORP$186,100$1,199,100
RELX PLC SPON ADR$240,350$263,340
ENERGY SECTOR SPDR TRUST$307,510$306,145
RELX NV SPON ADR$336,342$618,378
RELX NV EUR$828,723$1,047,680
RELX PLC SPON ADR$1,030,502$1,635,480

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
BANK SERVICE CHARGES$225

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescSTOCK DONATION BOOK TAX DIFFDesc
Amt$70,594Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXCategoryTxt
Amt$3,261Amt

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