CHI FAMILY FOUNDATION INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
CHI FAMILY FOUNDATION INC (EIN 46-4168073)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-05-07
IRS object ID
202141279349100714
Schema version
2020v4.0
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)
Return2021-05-07T10:28:41-05:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

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 Begin2020-01-01TaxPeriodBeginDt

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
Signature2021-05-03SignatureDt
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
Preparation2021-05-07PreparationDt
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$5,791,548FMVAssetsEOYAmt
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$131,872DividendsRevAndExpnssAmt
Dividends Net Invst Incm$131,872DividendsNetInvstIncmAmt
Total Rev And Expnss$131,872TotalRevAndExpnssAmt
Total Net Invst Incm$131,872TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$2,100AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$2,626TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$295OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$5,021TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$614,950ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$614,950ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$619,971TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$614,950TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$488,099ExcessRevenueOverExpensesAmt
Net Investment Income$131,872NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$28,008CashBOYAmt
Cash EOY$121,159CashEOYAmt
Cash EOYFMV$121,159CashEOYFMVAmt
Corporate Stock BOY$4,109,400CorporateStockBOYAmt
Corporate Stock EOY$3,732,470CorporateStockEOYAmt
Corporate Stock EOYFMV$5,670,389CorporateStockEOYFMVAmt
Total Assets BOY$4,137,408TotalAssetsBOYAmt
Total Assets EOY$3,853,629TotalAssetsEOYAmt
Total Assets EOYFMV$5,791,548TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$4,137,408NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$3,853,629NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$4,137,408TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,853,629TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$4,137,408TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,853,629TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$4,137,408TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$488,099ExcessRevenueOverExpensesAmt
Other Increases$204,320OtherIncreasesAmt
Subtotal$3,853,629SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,853,629TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,833InvestmentIncomeExciseTaxAmt
Subtotal$1,833SubtotalAmt
Tax Based On Investment Income$1,833TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$2,857EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$2,857TotalPaymentsAndCreditsAmt
Overpayment$1,024OverpaymentAmt
Applied To ES Tax$1,024AppliedToESTaxAmt

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$5,560,046AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$76,912AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$5,636,958TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$5,636,958AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$84,554CashDeemedCharitableAmt
Net Vl Noncharitable Assets$5,552,404NetVlNoncharitableAssetsAmt
Minimum Investment Return$277,620MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$277,620MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,833TaxBasedOnInvestmentIncomeAmt
Total Tax$1,833TotalTaxAmt
Distributable Before Adj$275,787DistributableBeforeAdjAmt
Distributable Before Ded$275,787DistributableBeforeDedAmt
Distributable As Adjusted$275,787DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$614,950ExpensesAndContributionsAmt
Qualifying Distributions$614,950QualifyingDistributionsAmt
Adjusted Qualifying Distri$614,950AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$275,787DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$27,834ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$17,203ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$13,425ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$10,283ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$37,499ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$106,244TotalExcessDistributionCyovAmt
Qualifying Distributions$614,950QualifyingDistributionsAmt
Applied To Current Year$275,787AppliedToCurrentYearAmt
Remaining Distri From Corpus$339,163RemainingDistriFromCorpusAmt
Total Corpus$445,407TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$27,834ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$417,573ExcessDistriCyovToNextYrAmt
Excess From Year4$17,203ExcessFromYear4Amt
Excess From Year3$13,425ExcessFromYear3Amt
Excess From Year2$10,283ExcessFromYear2Amt
Excess From Year1$37,499ExcessFromYear1Amt
Excess From Current Year$339,163ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (11 entries)

Address Line1RecipientUSAddress/AddressLine1TxtAddress Line2RecipientUSAddress/AddressLine2TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
FRIENDS OF U OF SURREY
155 E 44TH STREET6TH FLOOR SUITE 34NEW YORKNY10017PCGENERAL PURPOSE$10,000
LAWRENCEVILLE SCHOOL
2500 MAIN STREETLAWRENCEVILLENJ08648PCGENERAL PURPOSE$1,200
INNOCENCE PROJECT
40 WORTH STREETSUITE 701NEW YORKNY10013PCGENERAL PURPOSE$500
MAYOR'S FUND TO ADVANCE NYC
253 BROADWAY8TH FLOORNEW YORKNY10007PCGENERAL PURPOSE$1,000
FOOD BANK NYC
39 BROAD10TH FLOORNEW YORKNY10006PCGENERAL PURPOSE$500
NAACP LEGAL DEFENSE AND EDUCATIONAL
40 RECTOR STREET5TH FLOORNEW YORKNY10006PCGENERAL PURPOSE$500
ANDREW SIMPKINS INNOVATION FOUNDATI
1095 KENTUCKY DRIVELAWRENCEVILLEGA30044PCGENERAL PURPOSE$5,000
CHRIS LONG FOUNDATION
100 SOUTH BRENTWOOD BLVDSUITE 500CLAYTONMO63105PCGENERAL PURPOSE$5,000
YOUTH SERVICES
3080 W LAKE AVENUEGLENVIEWIL60026PCGENERAL PURPOSE$5,000
LEXIS NEXIS RULE OF LAW FOUNDATION
1150 18TH STREEW NWSUITE 641WASHINGTONDC20036PCGENERAL PURPOSE$5,000
PRINCETON UNIVERSITY
PRINCETON UNIVERSITYPRINCETONNJ08544PCGENERAL PURPOSE$581,250
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$614,950TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$131,872RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$131,872RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$131,872TotalIncomeProducingActyAmt

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$2,100Amt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (10 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
COCA-COLA CO COM$156,840$219,360
ENERGY SECTOR SPDR TRUST$307,510$132,650
INTEL CORP$11,648$23,714
MICROSOFT CORP$186,100$1,112,100
RELX NV SPON ADR$336,342$550,115
RELX PLC SPON ADR$1,030,502$1,454,940
WALT DISNEY CO$174,075$452,950
RELX NV EUR$1,102,483$1,240,830
RELX PLC SPON ADR$240,350$234,270
LVMH MOET HENNESSY LOUIS$186,620$249,460

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
EXPENSES
BANK SERVICE CHARGES$295

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescSTOCK DONATION BOOK TAX DIFFDesc
Amt$204,320Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXCategoryTxt
Amt$2,626Amt

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