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Nonprofiteer
← PROJECT BELONG FOUNDATION

Form 990 for tax year 2024

Filed by PROJECT BELONG FOUNDATION.

Totals

Total revenue
$11,798
Total expenses
$269,308
Contributions and grants received
$0
Grants paid
$250,000
Program service revenue
$0
Investment income
$11,798
Other revenue
$0
Total assets, end of year
$3,372,133
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,372,133
Program services expenses (Part IX)
$250,000
Management and general expenses
$19,308
Fundraising expenses
$0
Program service expenses (Part III)
$250,000

Program services were 92.8% 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 $34,409 · unrelated business $0 · excluded $34,409

  • 7a · Gross sales of assets other than inventory

    securities $1,115,987

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

    securities $1,138,598

  • 7c · Gain or loss

    securities -$22,611

  • 7d · Net gain or loss

    total -$22,611 · related or exempt $0 · unrelated business $0 · excluded -$22,611

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $250,000 · program services $250,000

  • 11f · Fees: investment management

    total $19,308 · program services $0 · management and general $19,308 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $321,759 · end of year $120,096

  • 11 · Investments: publicly traded securities

    beginning of year $2,792,405 · end of year $3,252,037

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,114,164 · end of year $3,372,133

Mission and programs · 2024

Mission

To support organizations that inspire, recruit and resource individuals within local churches in northern Virginia to care for vulnerable children.

  • The Foundation supported an organization in fulfillment of its mission.

    Expenses $250,000 · Grants $250,000

As filed on the 2024 return.

Listed in Part VII

  • Bora Jin

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Peter Gibson

    President

    Total calculated
    $0
    Hours/week
    10

  • Paul Jin

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    3

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
24 April 2025
IRS schema version
2024v5.2
Source object
202542319349300924

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