CHI FAMILY FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
CHI FAMILY FOUNDATION INC (EIN 46-4168073)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-05-03
IRS object ID
202241239349102359
Schema version
2021v4.0
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)
Return2022-05-03T17:01:23-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

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 Begin2021-01-01TaxPeriodBeginDt

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
Signature2022-04-28SignatureDt
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

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonYONG BAE KIMPreparerPersonNm
PTINP00738702PTIN
Phone2014612727PhoneNum
Preparation2022-05-03PreparationDt
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$7,278,273FMVAssetsEOYAmt
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$124,770DividendsRevAndExpnssAmt
Dividends Net Invst Incm$124,770DividendsNetInvstIncmAmt
Total Rev And Expnss$124,770TotalRevAndExpnssAmt
Total Net Invst Incm$124,770TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$2,200AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$2,868TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$250OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$5,318TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$425,447ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$425,447ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$430,765TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$425,447TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$305,995ExcessRevenueOverExpensesAmt
Net Investment Income$124,770NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$121,159CashBOYAmt
Cash EOY$223,161CashEOYAmt
Cash EOYFMV$223,161CashEOYFMVAmt
Corporate Stock BOY$3,732,470CorporateStockBOYAmt
Corporate Stock EOY$3,458,710CorporateStockEOYAmt
Corporate Stock EOYFMV$7,055,112CorporateStockEOYFMVAmt
Total Assets BOY$3,853,629TotalAssetsBOYAmt
Total Assets EOY$3,681,871TotalAssetsEOYAmt
Total Assets EOYFMV$7,278,273TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$3,853,629NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$3,681,871NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$3,853,629TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,681,871TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,853,629TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,681,871TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,853,629TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$305,995ExcessRevenueOverExpensesAmt
Other Increases$134,237OtherIncreasesAmt
Subtotal$3,681,871SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,681,871TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,734InvestmentIncomeExciseTaxAmt
Subtotal$1,734SubtotalAmt
Tax Based On Investment Income$1,734TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,024EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$3,024TotalPaymentsAndCreditsAmt
Overpayment$1,290OverpaymentAmt
Applied To ES Tax$1,290AppliedToESTaxAmt

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
407 PARK AVENUE SOUTHNEW YORKNY10016DIRECTOR1.00$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$6,405,078AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$172,412AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$6,577,490TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$6,577,490AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$98,662CashDeemedCharitableAmt
Net Vl Noncharitable Assets$6,478,828NetVlNoncharitableAssetsAmt
Minimum Investment Return$323,941MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$323,941MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,734TaxBasedOnInvestmentIncomeAmt
Total Tax$1,734TotalTaxAmt
Distributable Before Adj$322,207DistributableBeforeAdjAmt
Distributable Before Ded$322,207DistributableBeforeDedAmt
Distributable As Adjusted$322,207DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$425,447ExpensesAndContributionsAmt
Qualifying Distributions$425,447QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$322,207DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$17,203ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$13,425ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$10,283ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$37,499ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$339,163ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$417,573TotalExcessDistributionCyovAmt
Qualifying Distributions$425,447QualifyingDistributionsAmt
Applied To Current Year$322,207AppliedToCurrentYearAmt
Remaining Distri From Corpus$103,240RemainingDistriFromCorpusAmt
Total Corpus$520,813TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$17,203ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$503,610ExcessDistriCyovToNextYrAmt
Excess From Year4$13,425ExcessFromYear4Amt
Excess From Year3$10,283ExcessFromYear3Amt
Excess From Year2$37,499ExcessFromYear2Amt
Excess From Year1$339,163ExcessFromYear1Amt
Excess From Current Year$103,240ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
LAWRENCEVILLE SCHOOL
2500 MAIN STREETLAWRENCEVILLENJ08648PCGENERAL PURPOSE$1,200
CHINESE FOR AFFIRMATIVE ACTIVATION
17 WALTER U LUM PLSAN FRANCISCOCA94108PCGENERAL PURPOSE$500
PHILIPPINES HUMANITARIAN
124 S 400 ESALT LAKE CITYUT84111PCGENERAL PURPOSE$10,000SUITE 400
KOREAN AMERICAN COMMUNITY
135 E 64TH STNEW YORKNY11065PCGENERAL PURPOSE$5,751
KOREAN AMERICAN COMMUNITY
135 E 64TH STNEW YORKNY11065PCGENERAL PURPOSE$407,996
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$425,447TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$124,770RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$124,770RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$124,770TotalIncomeProducingActyAmt

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$2,200Amt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (10 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
COCA-COLA CO COM$156,840$236,840
ENERGY SECTOR SPDR TRUST$307,510$194,250
INTEL CORP$11,648$24,514
MICROSOFT CORP$186,100$1,681,600
RELX NV SPON ADR$336,342$727,464
RELX PLC SPON ADR$1,030,502$1,923,990
WALT DISNEY CO$174,075$387,225
RELX NV EUR$828,723$1,238,434
RELX PLC SPON ADR$240,350$309,795
LVMH MOET HENNESSY LOUIS$186,620$331,000

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
BANK SERVICE CHARGES$225
DUES AND SUBSCRIPTIONS$25

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescSTOCK DONATION BOOK TAX DIFFDesc
Amt$134,237Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXCategoryTxt
Amt$2,868Amt

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