GLOBAL VISION FOUNDATION INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
GLOBAL VISION FOUNDATION INC (EIN 83-2548626)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-15
IRS object ID
202143199349330914
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)
Return2021-11-15T20:43:32-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN270484624PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BOM HOE HUH CPABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line17019-6B EVERGREEN COURTAddressLine1Txt
CityANNANDALECityNm
State AbbreviationVAStateAbbreviationCd
ZIP22003ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN832548626EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1GLOBAL VISION FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlGLOBBusinessNameControlTxt
Phone7147102674PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13583 SCOTLAND RDAddressLine1Txt
CitySCOTLANDCityNm
State AbbreviationPAStateAbbreviationCd
ZIP17254ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonOCK SEON NAMYOUPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone7147102674PhoneNum
Signature2021-11-15SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstOCK SEONPersonFirstNm
Person LastNAMYOUPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBOM HOE HUHPreparerPersonNm
PTINP00630874PTIN
Phone7036390634PhoneNum
Preparation2021-11-15PreparationDt
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerOCK SEON NAMYOUPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13583 SCOTLAND RDAddressLine1Txt
CitySCOTLANDCityNm
State AbbreviationPAStateAbbreviationCd
ZIP17254ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$3,782,067GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.GVCSPA.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2018FormationYr
Legal Domicile StatePALegalDomicileStateCd
Activity Or MissionGVCS FOUNDATION OPENS A WORLD OF OPPORTUNITIES FOR MIDDLE AND HIGH SCHOOL STUDENTS BY PROVIDING THEM WITH A SUPERIOR, DOMESTIC AND INTERNATIONAL EDUCATION, THROUGH PREPARATION FOR UNIVERSITY, AND A FUTURE THAT KNOWS NO BORDERS.ActivityOrMissionDesc
Voting Members Governing Body2VotingMembersGoverningBodyCnt
Voting Members Independent2VotingMembersIndependentCnt
Total Employee43TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$389,700PYContributionsGrantsAmt
CY Contributions Grants$368,013CYContributionsGrantsAmt
PY Program Service Revenue$1,536,366PYProgramServiceRevenueAmt
CY Program Service Revenue$3,414,054CYProgramServiceRevenueAmt
CY Investment Income$0CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$1,926,066PYTotalRevenueAmt
CY Total Revenue$3,782,067CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$641,513PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$1,793,251CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$1,096,661PYOtherExpensesAmt
CY Other Expenses$1,725,940CYOtherExpensesAmt
PY Total Expenses$1,738,174PYTotalExpensesAmt
CY Total Expenses$3,519,191CYTotalExpensesAmt
PY Revenues Less Expenses$187,892PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$262,876CYRevenuesLessExpensesAmt
Total Assets BOY$212,419TotalAssetsBOYAmt
Total Assets EOY$530,447TotalAssetsEOYAmt
Total Liabilities BOY$24,527TotalLiabilitiesBOYAmt
Total Liabilities EOY$79,679TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$187,892NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$450,768NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionGVCS FOUNDATION OPENS A WORLD OF OPPORTUNITIES FOR MIDDLE AND HIGH SCHOOL STUDENTS BY PROVIDING THEM WITH A SUPERIOR, DOMESTIC AND INTERNATIONAL EDUCATION, THROUGH PREPARATION FOR UNIVERSITY, AND A FUTURE THAT KNOWS NO BORDERS.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$3,519,191ExpenseAmt
DescSECONDARY SCHOOL EDUCATIONDesc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp

FieldValueIRS element (for citing)
DescSECONDARY SCHOOL EDUCATIONDesc
FieldValueIRS element (for citing)
Total Program Service Expenses$3,519,191TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingYes (true)SchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredfalseScheduleORequiredInd
IRP Document14IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee43EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Governing Body Voting Members2GoverningBodyVotingMembersCnt
Independent Voting Member2IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcfalseRegularMonitoringEnfrcInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonOCK SEON NAMYOUPersonNm
Phone7147102674PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13583 SCOTLAND RDAddressLine1Txt
CitySCOTLANDCityNm
State AbbreviationPAStateAbbreviationCd
ZIP17254ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (2 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
OCK SEON NAMYOU
PRESIDENT40.00Yes (X)Yes (X)$84,000$0$0
JOON NAM
TREASURER40.00Yes (X)Yes (X)$52,800$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$136,800TotalReportableCompFromOrgAmt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$368,013AllOtherContributionsAmt
Total Contributions$368,013TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescPROGRAM SERVICE REVENUEDesc
Total Revenue Column$3,414,054TotalRevenueColumnAmt
Related Or Exempt Func Income$3,414,054RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$3,414,054TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$3,782,067TotalRevenueColumnAmt
Related Or Exempt Func Income$3,414,054RelatedOrExemptFuncIncomeAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$136,800TotalAmt
Program Services$136,800ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$1,457,941TotalAmt
Program Services$1,457,941ProgramServicesAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$23,109TotalAmt
Program Services$23,109ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$31,853TotalAmt
Program Services$31,853ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$143,548TotalAmt
Program Services$143,548ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$4,500TotalAmt
Program Services$4,500ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$24,639TotalAmt
Program Services$24,639ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$575,286TotalAmt
Program Services$575,286ProgramServicesAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$20,715TotalAmt
Program Services$20,715ProgramServicesAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$2,003TotalAmt
Program Services$2,003ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,726TotalAmt
Program Services$1,726ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$5,757TotalAmt
Program Services$5,757ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
STUDENT MEALS$597,900$597,900
DUES AND SUBSCRIPTION$116,345$116,345
SCHOLARSHIP EXPENSE$70,242$70,242
EQUIPMENT RENTAL$54,983$54,983

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$251,844TotalAmt
Program Services$251,844ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$3,519,191TotalAmt
Program Services$3,519,191ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$212,419BOYAmt
EOY$431,627EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
EOY$88,466EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$12,080LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,726LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
EOY$10,354EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$212,419BOYAmt
EOY$530,447EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$24,527BOYAmt
EOY$79,679EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$24,527BOYAmt
EOY$79,679EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$187,892BOYAmt
EOY$450,768EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$187,892BOYAmt
EOY$450,768EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$212,419BOYAmt
EOY$530,447EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$262,876ReconcilationRevenueExpnssAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule D IRS990ScheduleD

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$12,080OtherCostOrOtherBasisAmt
Depreciation$1,726DepreciationAmt
Book Value$10,354BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$10,354TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
CREDIT CARD PAYABLE$71,959
LOCAL TAX PAYABLE$5,753
PENSION PAYABLE$1,967
FieldValueIRS element (for citing)
Total Liability$79,679TotalLiabilityAmt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (true)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (true)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (true)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (true)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (true)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (true)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (true)MaintainCpyOfAllSolInd
Discriminate Race Stdnts RghtsfalseDiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss PlcyfalseDiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm FcultyfalseDiscriminateRaceEmplmFcultyInd
Discriminate Race SchsfalseDiscriminateRaceSchsInd
Discriminate Race Educ PlcyfalseDiscriminateRaceEducPlcyInd
Discriminate Race Use Of FcltsfalseDiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt ProgfalseDiscriminateRaceAthltProgInd
Discriminate Race Other ActyfalseDiscriminateRaceOtherActyInd
Government Financial Aid RcvdfalseGovernmentFinancialAidRcvdInd
Government Financial Aid RvkdfalseGovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (true)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE E, LINE 3FormAndLineReferenceDesc
ExplanationGLOBAL VISION FOUNDATION IS COMMITTED TO PROVIDING EQUAL OPPORTUNITY AND AN EDUCATIONAL AND WORK ENVIRONMENT FREE FROM ANY DISCRIMINATION ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN AND SEX.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990 - ORGANIZATION'S MISSIONGVCS FOUNDATION OPENS A WORLD OF OPPORTUNITIES FOR MIDDLE AND HIGH SCHOOL STUDENTS BY PROVIDING THEM WITH A SUPERIOR, DOMESTIC AND INTERNATIONAL EDUCATION, THROUGH PREPARATION FOR UNIVERSITY, AND A FUTURE THAT KNOWS NO BORDERS.
FORM 990, PAGE 2, PART III, LINE 4DSECONDARY SCHOOL EDUCATION
FORM 990, PAGE 6, PART VI, LINE 11BNO REVIEW WAS OR WILL BE CONDUCTED.
FORM 990, PAGE 6, PART VI, LINE 19NO DOCUMENTS AVAILABLE TO THE PUBLIC

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