CHI FAMILY FOUNDATION INC: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
CHI FAMILY FOUNDATION INC (EIN 46-4168073)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-05-09
IRS object ID
201911299349101961
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 ReturnHeader

FieldValueIRS element (for citing)
Return2019-05-09T15:53:48-05:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

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 Line11646 CENTER AVEAddressLine1Txt
CityFORT LEECityNm
State AbbreviationNJStateAbbreviationCd
ZIP07024ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

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
Signature2019-05-03SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonYONG BAE KIMPreparerPersonNm
PTINP00738702PTIN
Phone2014612727PhoneNum
Preparation2019-05-09PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address96.242.234.89IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-05-09IPDt
IP Tm15:53:48IPTm
IP TimezoneCDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdDA5A9378A6570422ED15BD5FD9A0B11E068A0D0CAtSubmissionCreationDeviceId
At Submission Filing Device Id3760DF6C88FF073E1FD3983241A5BD276B507B2FAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2019-02-21 02:37:17ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$4,634,633FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$500,614ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$98,466DividendsRevAndExpnssAmt
Dividends Net Invst Incm$98,466DividendsNetInvstIncmAmt
Total Rev And Expnss$599,080TotalRevAndExpnssAmt
Total Net Invst Incm$98,466TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$1,600AccountingFeesRevAndExpnssAmt
Taxes Rev And Expnss$8,894TaxesRevAndExpnssAmt
Taxes Net Invst Incm$5,880TaxesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$10,494TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$5,880TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$228,600ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$228,600ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$239,094TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$5,880TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$228,600TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$359,986ExcessRevenueOverExpensesAmt
Net Investment Income$92,586NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$356,815CashBOYAmt
Cash EOY$216,187CashEOYAmt
Cash EOYFMV$216,187CashEOYFMVAmt
Corporate Stock BOY$3,181,815CorporateStockBOYAmt
Corporate Stock EOY$3,682,429CorporateStockEOYAmt
Corporate Stock EOYFMV$4,418,446CorporateStockEOYFMVAmt
Total Assets BOY$3,538,630TotalAssetsBOYAmt
Total Assets EOY$3,898,616TotalAssetsEOYAmt
Total Assets EOYFMV$4,634,633TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind
Unrestricted BOY$3,538,630UnrestrictedBOYAmt
Unrestricted EOY$3,898,616UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY$3,538,630TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,898,616TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$3,538,630TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,898,616TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$3,538,630TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$359,986ExcessRevenueOverExpensesAmt
Subtotal$3,898,616SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,898,616TotNetAstOrFundBalancesEOYAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$199,725AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$3,755,950NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.053176DistributionYr1Rt
Adjusted Qlfy Distri Yr2$149,208AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$2,659,773NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.056098DistributionYr2Rt
Adjusted Qlfy Distri Yr3$141,217AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$2,121,854NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.066554DistributionYr3Rt
Adjusted Qlfy Distri Yr4$50,000AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$1,116,159NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.044796DistributionYr4Rt
Total Distribution0.220624TotalDistributionRt
Average Distribution0.055156AverageDistributionRt
Net Vl Noncharitable Assets$4,403,377NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$242,873AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$926NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$243,799AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$228,600QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,852InvestmentIncomeExciseTaxAmt
Subtotal$1,852SubtotalAmt
Tax Based On Investment Income$1,852TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$1,500EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$1,500TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$2EsPenaltyAmt
Tax Due$354TaxDueAmt

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 ContributorsYes (true)NewSubstantialContributorsInd
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
407 PARK AVENUE SOUTH 9DNEW YORKNY10016DIRECTOR1.00$0$0$0
SOOJEONG SOPHIA CHI
60 WATER STBROOKLYNNY11201DIRECTOR1.00$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$4,084,270AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$386,163AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$4,470,433TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$4,470,433AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$67,056CashDeemedCharitableAmt
Net Vl Noncharitable Assets$4,403,377NetVlNoncharitableAssetsAmt
Minimum Investment Return$220,169MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$220,169MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,852TaxBasedOnInvestmentIncomeAmt
Total Tax$1,852TotalTaxAmt
Distributable Before Adj$218,317DistributableBeforeAdjAmt
Distributable Before Ded$218,317DistributableBeforeDedAmt
Distributable As Adjusted$218,317DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$228,600ExpensesAndContributionsAmt
Qualifying Distributions$228,600QualifyingDistributionsAmt
Adjusted Qualifying Distri$228,600AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$218,317DistributableAsAdjustedAmt
Excess Distribution Cyov Yr3$27,834ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$17,203ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$13,425ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$58,462TotalExcessDistributionCyovAmt
Qualifying Distributions$228,600QualifyingDistributionsAmt
Applied To Current Year$218,317AppliedToCurrentYearAmt
Remaining Distri From Corpus$10,283RemainingDistriFromCorpusAmt
Total Corpus$68,745TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$68,745ExcessDistriCyovToNextYrAmt
Excess From Year3$27,834ExcessFromYear3Amt
Excess From Year2$17,203ExcessFromYear2Amt
Excess From Year1$13,425ExcessFromYear1Amt
Excess From Current Year$10,283ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (8 entries)

Address Line1RecipientUSAddress/AddressLine1TxtAddress Line2RecipientUSAddress/AddressLine2TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
KATE & JUSTIN ROSE FOUNDATION
10524 MOSS PARK ROADSUITE 204-712ORLANDOFL32832PCYOUTH ASSISTANCE$6,000
KAIST USA FOUNDATION
1510 PAGE MILL ROADSUITE 110PALO ALTOCA94304PCGENERAL PURPOSE$20,000
COLUMBIA BUSINESS SCHOOL
COLUMBIA UNIVERSITY3022 BROADWAYNEW YORKNY10027PCGENERAL PURPOSE$20,000
PRINCETON UNIVERSITY
PRINCETON UNIVERSITYPRINCETONNJ08544PCGENERAL PURPOSE$150,000
LAWRENCEVILLE SCHOOL
2500 MAIN STREETLAWRENCEVILLENJ08648PCGENERAL PURPOSE$1,600
PHILIPPINES HUMANITARIAN
211 EAST BROADWAYSALT LAKE CITYUT84111PCSUPPORT CHILDREN$10,000
UNITED BOARD FOR CHEIA
475 RIVERSIDE DRIVESUITE 1221NEW YORKNY10115PCGENERAL PURPOSE$20,000
SONOMA ASHRAM FOUNDATION
PO BOX 950SONOMACA95476PCGENERAL PURPOSE$1,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$228,600TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$98,466RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$98,466RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$98,466TotalIncomeProducingActyAmt

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

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonYOUNGSUK CHIContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1265 INDIES WAY 902AddressLine1Txt
CityNAPLESCityNm
State AbbreviationFLStateAbbreviationCd
ZIP34110ZIPCd
FieldValueIRS element (for citing)
Total Contributions$500,614TotalContributionsAmt
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Noncash PropertySTOCK: RELX PLC GBP FMNoncashPropertyDesc
Fair Market Value$500,614FairMarketValueAmt
Received2018-12-31ReceivedDt

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEECategoryTxt
Amt$1,600Amt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (8 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
COCA-COLA CO COM$156,840$189,400
ENERGY SECTOR SPDR TRUST$307,510$200,725
INTEL CORP$11,648$22,339
MICROSOFT CORP$186,100$507,850
RELX NV SPON ADR$713,272$970,760
RELX PLC SPON ADR$1,030,502$1,210,680
WALT DISNEY CO$174,075$274,125
RELX NV EUR$1,102,482$1,042,567

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonYOUNGSUK CHIPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1265 INDIES WAY 902AddressLine1Txt
CityNAPLESCityNm
State AbbreviationFLStateAbbreviationCd
ZIP34110ZIPCd

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
FOREIGN TAXES$5,880$5,880
EXCISE TAX$3,014

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