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Nonprofiteer
← NAE IL FOUNDATION LTD

Form 990 for tax year 2024

Filed by NAE IL FOUNDATION LTD.

Totals

Total revenue
-$167,944
Total expenses
$420,147
Contributions and grants received
$0
Grants paid
$370,000
Program service revenue
$0
Investment income
-$167,944
Other revenue
$0
Total assets, end of year
$46,035,775
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$46,035,775
Program services expenses (Part IX)
$370,000
Management and general expenses
$50,147
Fundraising expenses
$0
Program service expenses (Part III)
$370,000

Program services were 88.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $454,583 · unrelated business $63,172 · excluded $391,411

  • 7a · Gross sales of assets other than inventory

    securities $636,209

  • 7b · Less cost or other basis and sales expenses

    securities $1,258,736

  • 7c · Gain or loss

    securities -$622,527

  • 7d · Net gain or loss

    total -$622,527 · excluded -$622,527

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $370,000 · program services $370,000

  • 11b · Fees: legal

    total $36,925 · management and general $36,925

  • 11c · Fees: accounting

    total $12,225 · management and general $12,225

  • 13 · Office expenses

    total $580 · management and general $580

  • 24a · Other expenses: BANK FEES

    total $300 · management and general $300

  • 24b · Other expenses: TAXES PAID

    total $117 · management and general $117

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,315,534 · end of year $1,294,789

  • 2 · Savings and temporary cash investments

    beginning of year $354,447 · end of year $2,497,821

  • 11 · Investments: publicly traded securities

    beginning of year $11,329,228 · end of year $8,646,056

  • 12 · Investments: other securities

    beginning of year $26,030,512 · end of year $33,597,109

  • 27 · Net assets without donor restrictions

    beginning of year $39,029,721 · end of year $46,035,775

Mission and programs · 2024

Mission

NAEIL FOUNDATION'S MISSION IS TO ADVANCE SOCIAL JUSTICE AND DEMOCRATIC VALUES IN THE KOREAN-AMERICAN COMMUNITY BY ADVOCATING FOR POLICIES AND CIVIC ENGAGEMENT THAT PLACES EDUCATIONAL ACCESS, PRESERVATION OF CULTURAL HERITAGE, CROSS-CULTURAL COALITION BUILDING, AND COMMUNITY PROSPERITY AT THE FOREFRONT. ADDITIONALLY THE FOUNDATION PROMOTES EQUITABLE TREATMENT OF AND OUTCOMES FOR SIMILARLY SITUATED UNDERREPRESENTED AND SOCIOECONOMICALLY DISADVANTAGED COMMUNITIES ACROSS THE UNITED STATES AND ITS TERRITORIES WHERE THE FOUNDATION IS A MAJOR STAKEHOLDER IN THE COMMUNITY.

Activities or mission (Part I)

NAEIL FOUNDATION MISSION IS TO ADVANCE SOCIAL JUSTICE AND DEMOCRATIC VALUES IN THE KOREAN-AMERICAN COMMUNITY BY ADVOCATING FOR POLICIES AND CIVIC ENGAGEMENT THAT PLACES EDUCATIONAL ACCESS, PRESERVATION OF CULTURAL HERITAGE, CROSS-CULTURAL COALITION BUILDING, AND COMMUNITY PROSPERITY AT THE FOREFRONT. ADDITIONALLY THE FOUNDATION PROMOTES EQUITABLE TREATMENT OF AND OUTCOMES FOR SIMILARLY SITUATED UNDERREPRESENTED AND SOCIOECONOMICALLY DISADVANTAGED COMMUNITIES ACROSS THE UNITED STATES AND ITS TERRITORIES WHERE THE FOUNDATION IS A MAJOR STAKEHOLDER IN THE COMMUNITY.

  • SUPPORT FOR THE KOREAN AMERICAN FAMILY SUPPORT CENTER WHICH IS HELPING ADULTS, YOUTH, AND CHILDREN TO LEAD SAFE AND HEALTHY LIVES BASED ON DIGNITY, COMPASSION, AND MUTUAL RESPECT. THE CENTER IS COMMITTED TO PREVENT AND END DOMESTIC VIOLENCE, SEXUAL ASSAULT, AND RELATIONSHIP ABUSE, OVERALL TO CREATE A VIOLENCE-FREE SOCIETY. THEY DELIVER COUNSELING, EDUCATION, AND ADVOCACY PROGRAMS FOR INDIVIDUALS AND FAMILIES IN THE NEW YORK TRI-STATE AREA AND ARE PROVIDED IN A CULTURALLY AND LINGUISTICALLY APPROPRIATE CONTEXT.

    Expenses $275,000 · Grants $275,000

  • SUPPORT FOR A RANGE OF SERVICES INCLUDING FAMILY INTERVENTION, MENTAL HEALTH, AND SOCIAL SERVICES THAT PROVIDE AN IMPORTANT SAFETY NET FOR ASIAN FAMILIES AND COMMUNITY MEMBERS. THE SKILLED TEAM OF MULTILINGUAL STAFF AND VOLUNTEERS SERVE OVER 10,000 ADULTS AND CHILDREN EACH YEAR WITH QUALITY, CULTURALLY RESPONSIVE SERVICES AND PASSIONATE CARE THAT SPEAK DIRECTLY TO THE CHALLENGES AMONG IMMIGRANT FAMILIES UNDERGOING TRAUMA OR ADAPTATION STRESSES.

    Expenses $50,000 · Grants $50,000

  • SUPPORT FOR THE PROMOTION OF THE CIVIC AND CIVIL RIGHTS INTERESTS OF THE KOREAN AMERICAN COMMUNITY. THE GOALS ARE ACHIEVED THROUGH EDUCATION, COMMUNITY ORGANIZING, LEADERSHIP DEVELOPMENT, AND COALITION-BUILDING WITH DIVERSE COMMUNITIES.

    Expenses $45,000 · Grants $45,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • So Young Kim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Moon

    DIRECTOR, TREASURER

    Total calculated
    $0
    Hours/week
    1.5

  • Michael Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • KOREAN AMERICAN FAMILY SERVICE CENTER

    $175,000

    TO ADDRESS DOMESTIC VIOLENCE AND SEXUAL ASSAULT VICTIMS FROM A COMBINED PREVENTION AND INTERVENTION PERSPECTIVE THAT REMAINS SENSITIVE TO OUR CULTURAL SETTING.

  • KOREAN AMERICAN FAMILY SERVICES INC (KFAM)

    $100,000

    TO PROVIDE CULTURALLY RESPONSIVE SOCIAL SERVICES IN THE AREAS OF MENTAL HEALTH, GENDER BASED VIOLENCE, ADOPTION AND FOSTER CARE, CHILD AND ADULT WELLNESS, AND OTHER FAMILY SUPPORT.

  • KOREAN AMERICAN COALITION

    $50,000

    TO PROMOTE THE CIVIC AND CIVIL RIGHTS INTERESTS OF THE KOREAN AMERICAN COMMUNITY. KAC ENDEAVORS TO ACHIEVE THESE GOALS THROUGH EDUCATION, COMMUNITY ORGANIZING, LEADERSHIP DEVELOPMENT, AND COALITION-BUILDING WITH DIVERSE COMMUNITIES.

  • THE HANA CENTER

    $45,000

    TO BUILD THE POWER OF KOREAN, ASIAN AMERICAN, AND MULTIETHNIC IMMIGRANT COMMUNITIES IN CHICAGOLAND THROUGH SOCIAL SERVICES, EDUCATION, CULTURE, AND COMMUNITY ORGANIZING TO ADVANCE HUMAN RIGHTS.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503199349300910

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