WILLIAM AND MARGARET KANG FOUNDATION: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: WILLIAM AND MARGARET KANG FOUNDATION (EIN 82-4304512)
Tax period: 2018-01-01 to 2018-12-31
Filed: 2019-11-14
IRS object ID: 201903189349103170
Schema version: 2018v3.1
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
Form 990-PF
Schedule B
Gain Loss Sale Other Assets Sch
Legal Fees Schedule
Substantial Contributors Sch

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2019-11-14T15:32:25-06:00	ReturnTs
Tax Period End	2018-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	331080220	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	STEVEN LEE & ASSOCIATES PS	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1239 120TH AVE NE STE E	AddressLine1Txt
City	BELLEVUE	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	980052133	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2018-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	824304512	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	WILLIAM & MARGARET KANG FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	WILL	BusinessNameControlTxt
Phone	4257752020	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4215 198TH ST SW STE 104	AddressLine1Txt
City	LYNNWOOD	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	98036	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	WILLIAM KANG	PersonNm
Person Title	OFFICER	PersonTitleTxt
Phone	4257752020	PhoneNum
Signature	2019-11-12	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	STEVEN LEE CPA	PreparerPersonNm
PTIN	P00287695	PTIN
Phone	4256981348	PhoneNum
Preparation	2019-11-12	PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	50.248.195.122	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2019-11-14	IPDt
IP Tm	15:32:25	IPTm
IP Timezone	CS	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	27C5E843169213ECF010E1FA126CA7984A33D15F	AtSubmissionCreationDeviceId
At Submission Filing Device Id	F398FF37E5BDA7A09F342B2CFB5C0F3EF217102E	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2020-03-31 21:24:44Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Initial Return	Yes (X)	InitialReturnInd
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$198,003	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Contri Rcvd Rev And Expnss	$210,000	ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss	$1,183	InterestOnSavRevAndExpnssAmt
Dividends Rev And Expnss	$1,084	DividendsRevAndExpnssAmt
Net Gain Sale Ast Rev And Expnss	$542	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$38,263	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$2,289	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$212,809	TotalRevAndExpnssAmt
Total Net Invst Incm	$2,289	TotalNetInvstIncmAmt
Legal Fees Rev And Expnss	$2,056	LegalFeesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss	$2,056	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$0	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$0	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$12,750	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$12,750	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$14,806	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$0	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$12,750	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$198,003	ExcessRevenueOverExpensesAmt
Net Investment Income	$2,289	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash EOY	$198,003	CashEOYAmt
Cash EOYFMV	$198,003	CashEOYFMVAmt
Total Assets EOY	$198,003	TotalAssetsEOYAmt
Total Assets EOYFMV	$198,003	TotalAssetsEOYFMVAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind
Unrestricted EOY	$198,003	UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances EOY	$198,003	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$0	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$198,003	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Excess Revenue Over Expenses	$198,003	ExcessRevenueOverExpensesAmt
Subtotal	$198,003	SubtotalAmt
Tot Net Ast Or Fund Balances EOY	$198,003	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Field	Value	IRS element (for citing)
Capital Gain Net Income	$2,289	CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$46	InvestmentIncomeExciseTaxAmt
Subtotal	$46	SubtotalAmt
Tax Based On Investment Income	$46	TaxBasedOnInvestmentIncomeAmt
Tax Due	$46	TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	false	LegislativePoliticalActyInd
More Than100 Spent	false	MoreThan100SpentInd
Form1120 POL Filed	false	Form1120POLFiledInd
Activities Not Previously Rpt	false	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	false	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc	false	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (true)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (true)	AtLeast5000InAssetsInd
Org Report Or Register State	WA	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (true)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	false	PrivateOperatingFoundationInd
New Substantial Contributors	Yes (true)	NewSubstantialContributorsInd
Own Controlled Entity	false	OwnControlledEntityInd
Donor Advised Fund	false	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (true)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	WILLIAM KANG	IndividualWithBooksNm
Phone	4257752020	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	4215 198TH ST SW STE 104	AddressLine1Txt
City	LYNNWOOD	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	98036	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	false	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	false	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	false	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	false	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	false	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	false	TransferAstDisqualifiedPrsnInd
Payment To Government Official	false	PaymentToGovernmentOfficialInd
Undistributed Income PY	false	UndistributedIncomePYInd
Business Holdings	false	BusinessHoldingsInd
Jeopardy Investments	false	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	false	UncorrectedPYJeopardyInvstInd
Influence Legislation	false	InfluenceLegislationInd
Influence Election	false	InfluenceElectionInd
Grants To Individuals	false	GrantsToIndividualsInd
Grants To Organizations	false	GrantsToOrganizationsInd
Noncharitable Purpose	false	NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
WILLIAM KANG
17910 KAIREZ DR	EDMONDS	WA	98026	OFFICER	000.00	$0	$0	$0
MARGARET KANG
17910 KAIREZ DR	EDMONDS	WA	98026	OFFICER	000.00	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

Field	Value	IRS element (for citing)
Description1	SCHOLARSHIP GRANTS	Description1Txt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Description1	N/A	Description1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$0	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$0	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$0	TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast	$0	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$0	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$0	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$0	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Tax Based On Investment Income	$46	TaxBasedOnInvestmentIncomeAmt
Total Tax	$46	TotalTaxAmt
Distributable As Adjusted	$0	DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$12,750	ExpensesAndContributionsAmt
Qualifying Distributions	$12,750	QualifyingDistributionsAmt
Adjusted Qualifying Distri	$12,750	AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$0	DistributableAsAdjustedAmt
Qualifying Distributions	$12,750	QualifyingDistributionsAmt
Remaining Distri From Corpus	$12,750	RemainingDistriFromCorpusAmt
Total Corpus	$12,750	TotalCorpusAmt
Undistributed Income CY	$0	UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr	$12,750	ExcessDistriCyovToNextYrAmt
Excess From Current Year	$12,750	ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	WILLIAM KANG	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
BRIAN ANGIE HWANG
4215 198TH ST SW	LYNNWOOD	WA	98036	UNRELATED	INDIVIDUAL	MISSION SUPPORT DONATION	$1,000
PUKYONG NATIONAL UNIVERSITY
4215 198TH ST SW	LYNNWOOD	WA	98036		UNIVERSITY	DONATION	$10,000
TOYS FOR TOTS CAMPAIGN
2730 OAKES AVE	EVERETT	WA	98201		501(C)	DONATION	$500
NOBADY LEAVES MID-HUDSON
29 N HAMILTON ST	POUGHKEEPSIE	NY	12601		501(C)	DONATION	$250
KOR AMERICAN EDU CULTURE FUND
P O BOX 1406	BELLEVUE	WA	98009		501(C)	DONATION	$1,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$12,750	TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$1,183	RelatedOrExemptFunctionIncmAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$1,084	RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$542	RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Related Or Exempt Function Incm	$2,809	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$2,809	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	false	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	false	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	false	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	false	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	false	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	false	ReimbursementArrangementsInd
Loans Or Loan Guarantees	false	LoansOrLoanGuaranteesInd
Performance Of Services Etc	false	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	false	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	false	RelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
General Rule	Yes (X)	GeneralRuleInd

Contributor Information ContributorInformationGrp (2 entries)

ContributorContributorNum	Address Line1ContributorUSAddress/AddressLine1Txt	CityContributorUSAddress/CityNm	State AbbreviationContributorUSAddress/StateAbbreviationCd	ZIPContributorUSAddress/ZIPCd	Total ContributionsTotalContributionsAmt	Person ContributionPersonContributionInd
WILLIAM KANG
1	17910 KAIREZ DR	EDMONDS	WA	98026	$200,000	Yes (X)
SKS INTERNATIONAL INC
2	4215 198TH ST SW 104	LYNNWOOD	WA	98036	$10,000	Yes (X)

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (5 entries)

AssetAssetDesc	AcquiredAcquiredDt	How AcquiredHowAcquiredTxt	SoldSoldDt	Gross Sales PriceGrossSalesPriceAmt	BasisBasisAmt	Total NetTotalNetAmt
CHAMPLAIN MDCP	2018-04	PURCHASE	2018-12	$7,974	$7,396	$578
FUNDAMENTAL INVS	2018-04	PURCHASE	2018-12	$10,000	$9,997	$3
CLRBRDG SMCP	2018-04	PURCHASE	2018-12	$6,000	$6,212	-$212
OPPEN INTL GRW	2018-04	PURCHASE	2018-12	$7,000	$8,389	-$1,389
OPPEN DEV MKT	2018-04	PURCHASE	2018-12	$5,000	$5,727	-$727

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Field	Value	IRS element (for citing)
Category	INDIRECT LEGAL FEES	CategoryTxt
Legal Fees	$2,056	LegalFeesAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd
WILLIAM KANG
17910 KAIREZ DR	EDMONDS	WA	98026
SKS INTERNATIONAL INC
4215 198TH ST SW SUITE 104	LYNNWOOD	WA	98036

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