BETA

WILLIAM AND MARGARET KANG FOUNDATION: Form 990PF, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
WILLIAM AND MARGARET KANG FOUNDATION (EIN 82-4304512)
Tax period
2019-01-01 to 2019-12-31
Filed
2020-11-13
IRS object ID
202043189349102914
Schema version
2019v5.0
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)
Return2020-11-13T14:02:31-06:00ReturnTs
Tax Period End2019-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN331080220PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1STEVEN LEE & ASSOCIATES PSBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11239 120TH AVE NE STE EAddressLine1Txt
CityBELLEVUECityNm
State AbbreviationWAStateAbbreviationCd
ZIP980052133ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2019-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN824304512EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1WILLIAM & MARGARET KANG FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlWILLBusinessNameControlTxt
Phone4257752020PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line14215 198TH ST SW STE 104AddressLine1Txt
CityLYNNWOODCityNm
State AbbreviationWAStateAbbreviationCd
ZIP98036ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonWILLIAM KANGPersonNm
Person TitleOFFICERPersonTitleTxt
Phone4257752020PhoneNum
Signature2020-11-12SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSTEVEN LEE CPAPreparerPersonNm
PTINP00287695PTIN
Phone4256981348PhoneNum
Preparation2020-11-12PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address50.248.195.122IPv4AddressTxt
FieldValueIRS element (for citing)
IP2020-11-13IPDt
IP Tm14:02:31IPTm
IP TimezoneCSIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdF398FF37E5BDA7A09F342B2CFB5C0F3EF217102EAtSubmissionCreationDeviceId
At Submission Filing Device IdF398FF37E5BDA7A09F342B2CFB5C0F3EF217102EAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2021-04-22 16:20:28ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$394,778FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$200,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$2,933InterestOnSavRevAndExpnssAmt
Dividends Rev And Expnss$2,414DividendsRevAndExpnssAmt
Net Gain Sale Ast Rev And Expnss$1,660NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$101,577GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$1,577CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$207,007TotalRevAndExpnssAmt
Total Net Invst Incm$1,577TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$2,000AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$46TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$2,046TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$20,250ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$20,250ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$22,296TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$20,250TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$184,711ExcessRevenueOverExpensesAmt
Net Investment Income$1,577NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$198,003CashBOYAmt
Cash EOY$394,153CashEOYAmt
Cash EOYFMV$394,153CashEOYFMVAmt
Other Investments EOY$625OtherInvestmentsEOYAmt
Other Investments EOYFMV$625OtherInvestmentsEOYFMVAmt
Total Assets BOY$198,003TotalAssetsBOYAmt
Total Assets EOY$394,778TotalAssetsEOYAmt
Total Assets EOYFMV$394,778TotalAssetsEOYFMVAmt
Grants Payable EOY$12,064GrantsPayableEOYAmt
Total Liabilities EOY$12,064TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$198,003NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$382,714NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$198,003TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$382,714TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$198,003TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$394,778TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$198,003TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$184,711ExcessRevenueOverExpensesAmt
Subtotal$382,714SubtotalAmt
Tot Net Ast Or Fund Balances EOY$382,714TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$1,577CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$12,750AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets$241,602NetVlNoncharitableAssetsAmt
Net Investment Income Pct$16NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$16AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$20,250QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Domestic Org Meeting Sect4940eYes (X)DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax$16InvestmentIncomeExciseTaxAmt
Subtotal$16SubtotalAmt
Tax Based On Investment Income$16TaxBasedOnInvestmentIncomeAmt
Tax Due$16TaxDueAmt

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 StateWAOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksWILLIAM KANGIndividualWithBooksNm
Phone4257752020PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line14215 198TH ST SW STE 104AddressLine1Txt
CityLYNNWOODCityNm
State AbbreviationWAStateAbbreviationCd
ZIP98036ZIPCd
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 (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
WILLIAM KANG
17910 VISTA DEL MAR DRIVEEDMONDSWA98026OFFICER000.00$0$0$0
MARGARET KANG
17910 VISTA DEL MAR DRIVEEDMONDSWA98026OFFICER000.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1SCHOLARSHIP GRANTSDescription1Txt

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$216,769AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$28,512AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$245,281TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$245,281AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$3,679CashDeemedCharitableAmt
Net Vl Noncharitable Assets$241,602NetVlNoncharitableAssetsAmt
Minimum Investment Return$12,080MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$12,080MinimumInvestmentReturnAmt
Tax Based On Investment Income$16TaxBasedOnInvestmentIncomeAmt
Total Tax$16TotalTaxAmt
Distributable Before Adj$12,064DistributableBeforeAdjAmt
Distributable Before Ded$12,064DistributableBeforeDedAmt
Distributable As Adjusted$12,064DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$20,250ExpensesAndContributionsAmt
Qualifying Distributions$20,250QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm$16PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri$20,234AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$12,064DistributableAsAdjustedAmt
Excess Distribution Cyov Yr1$12,750ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$12,750TotalExcessDistributionCyovAmt
Qualifying Distributions$20,250QualifyingDistributionsAmt
Applied To Current Year$12,064AppliedToCurrentYearAmt
Remaining Distri From Corpus$8,186RemainingDistriFromCorpusAmt
Total Corpus$20,936TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$20,936ExcessDistriCyovToNextYrAmt
Excess From Year1$12,750ExcessFromYear1Amt
Excess From Current Year$8,186ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1TxtAddress Line2RecipientUSAddress/AddressLine2TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
CHANG SOO KIM
4215 198TH ST SW STE 104INDIVIDUAL IN KOREALYNNWOODWA98036UNRELATEDINDIVIDUALMISSION SUPPORT DONATION$10,000
UNITED SEATTLE-BELLEVUE KOR SCHOOL
P O BOX 1406BELLEVUEWA980091406UNLEATEDNON-PROFITDONATION$2,000
JASON LEE
4215 198TH ST SW STE 104INDIVIDUAL IN KOREALYNNWOODWA98036UNRELATEDINDIVIDUALSCHOLARSHIP (DAE-KWANG HIGHSCHOOL)$1,000
AMERICAN HEART ASSOCIATION
426 17TH ST SUITE 300OKLANDCA94612UNRELATEDNON-PROFITCHARITABLE DONATION$250
CARIBBEAN EVANGELICAL MISSION
3040 WINLOCK WAYGRANITE BAYCA95746UNLEATEDNON-PROFITMISSION SUPPORT$3,000
SIDWELL FRIENDS SCHOOL
3825 WISCONSIN AVE NWWASHINGONDC20016UNRELATEDNON-PROFITDONATION$250
HIE IK RO
4215 198TH ST SW STE 104INDIVIDUAL IN KOREALYNNWOODWA98036UNRELATEDINDIVIDUALSCHOLARSHIP (DAE-KWANG HIGHSCHOOL)$3,000
JUNIOR DIABETES ASSOCIATION
17106 SE 47TH CTBELLEVUEWA98005UNRELATEDNON-PROFITDONATION$250
TOYS FOR TOTS
17107 SE 47TH CTBELLEVUEWA98005UNRELATEDNON-PROFITDONATION$250
JERUSALEM UNIVERSITY COLLEGE
185 WESLEY AVEXENIAOH45385UNRELATEDUNIVERSITYDONATION$250
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$20,250TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,933RelatedOrExemptFunctionIncmAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,414RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,660RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$7,007RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$7,007TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (2 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionInd
WILLIAM KANG
117910 VISTA DEL MAR DRIVEEDMONDSWA98026$100,000Yes (X)
MARGARET KANG
217910 VISTA DEL MAR DRIVEEDMONDSWA98026$100,000Yes (X)

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT ACCOUNTING FEESCategoryTxt
Amt$2,000Amt

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp

FieldValueIRS element (for citing)
AssetGS NOTEAssetDesc
Acquired2018-11AcquiredDt
How AcquiredPURCHASEHowAcquiredTxt
Sold2019-11SoldDt
Gross Sales Price$100,000GrossSalesPriceAmt
Basis$99,917BasisAmt
Total Net$83TotalNetAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

FieldValueIRS element (for citing)
Category Or ItemUNKNOWN DIFFERENCECategoryOrItemTxt
Book Value$625BookValueAmt
EOYFMV$625EOYFMVAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCd
WILLIAM KANG
17910 VISTA DEL MAR DRIVEEDMONDSWA98026
MARGARET KANG
17910 VISTA DEL MAR DRIVEEDMONDSWA98026

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryINDIRECT TAXES/LICENSESCategoryTxt
Amt$46Amt

Comments

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