Civic Intelligence

Primax Foundation Inc.

990 • Fiscal year 2022 • EIN 20-8081933

Jan 01, 2022 to Dec 31, 2022 • Filed on Feb 23, 2023

Organization ProfileN/A
17036 Industry PlLA Mirada, CA 90638

(714) 523-2532

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

3rd percentile

-121%

Higher net margin than 3% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

23rd percentile

-7.8%

Faster asset growth than 23% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

3rd percentile

-74%

Faster revenue growth than 3% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$4,405,308

Down $370,338 (-7.8%) from 2021

Net Assets

Down

$4,405,308

Down $370,338 (-7.8%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin3rd percentile

Revenue

Down

$74,844

Down $207,602 (-74%) from 2021

Expenses

Up

$165,254

Up $106,614 (+182%) from 2021

Net Income

Down

-$90,410

Down $314,216 (-140%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $272,679Net Assets 2010: $272,6792010Assets 2011: $343,530Net Assets 2011: $343,5302011Assets 2012: $387,098Net Assets 2012: $387,0982012Assets 2013: $474,488Net Assets 2013: $474,4882013Assets 2014: $658,170Liabilities 2014: $4,700Net Assets 2014: $653,4702014Assets 2015: $815,571Liabilities 2015: $0Net Assets 2015: $815,5712015Assets 2016: $906,586Liabilities 2016: $0Net Assets 2016: $906,5862016Assets 2017: $1,038,504Liabilities 2017: $0Net Assets 2017: $1,038,5042017Assets 2018: $1,057,287Liabilities 2018: $0Net Assets 2018: $1,057,2872018Assets 2019: $1,332,884Liabilities 2019: $0Net Assets 2019: $1,332,8842019Assets 2020: $4,354,452Liabilities 2020: $0Net Assets 2020: $4,354,4522020Assets 2021: $4,775,646Liabilities 2021: $0Net Assets 2021: $4,775,6462021Assets 2022: $4,405,308Liabilities 2022: $0Net Assets 2022: $4,405,3082022Assets 2023: $4,484,852Liabilities 2023: $23Net Assets 2023: $4,484,8292023Assets 2024: $4,406,307Liabilities 2024: $0Net Assets 2024: $4,406,3072024Assets 2025: $4,603,546Liabilities 2025: $0Net Assets 2025: $4,603,5462025

Highlighted filing

2022

Assets$4,405,308
Liabilities$0
Net Assets$4,405,308
Open 2022 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $122,402Expenses 2010: $88,845Net Income 2010: $33,5572010Revenue 2011: $126,113Expenses 2011: $55,262Net Income 2011: $70,8512011Revenue 2012: $137,470Expenses 2012: $93,902Net Income 2012: $43,5682012Revenue 2013: $136,032Expenses 2013: $48,642Net Income 2013: $87,3902013Revenue 2014: $235,888Expenses 2014: $56,906Net Income 2014: $178,9822014Revenue 2015: $248,737Expenses 2015: $86,636Net Income 2015: $162,1012015Revenue 2016: $186,127Expenses 2016: $95,111Net Income 2016: $91,0162016Revenue 2017: $227,064Expenses 2017: $95,146Net Income 2017: $131,9182017Revenue 2018: $158,013Expenses 2018: $99,558Net Income 2018: $58,4552018Revenue 2019: $218,392Expenses 2019: $82,984Net Income 2019: $135,4082019Revenue 2020: $3,029,982Expenses 2020: $77,627Net Income 2020: $2,952,3552020Revenue 2021: $282,446Expenses 2021: $58,640Net Income 2021: $223,8062021Revenue 2022: $74,844Expenses 2022: $165,254Net Income 2022: -$90,4102022Revenue 2023: $113,362Expenses 2023: $302,570Net Income 2023: -$189,2082023Revenue 2024: $94,166Expenses 2024: $359,612Net Income 2024: -$265,4462024Revenue 2025: $58,419Expenses 2025: $157,304Net Income 2025: -$98,8852025

Highlighted filing

2022

Revenue$74,844
Expenses$165,254
Net Income-$90,410
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Feb 23, 2023
Return Version
2022v4.1
Gross Receipts
$74,844
Mission and Program Overview

Mission

The specific purpose of the organization is to support socially and economically disadvantaged people in local and international communities. Activities are youth empowerment and

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$135,834$2,334,801▲ $2,198,967
Investments in Publicly Traded Securities$1,400,502$1,162,431▼ $238,071
Savings and Temporary Cash Investments$3,118,850$900,000▼ $2,218,850
Cash and Non-Interest-Bearing Accounts$118,835$6,451▼ $112,384
Inventories for Sale or Use$1,625$1,625→ $0
Total Assets$4,775,646$4,405,308▼ $370,338
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,775,646$4,405,308▼ $370,338
Total Net Assets Fund Balance$4,775,646$4,405,308▼ $370,338
Total Liabilities and Net Assets / Fund Balance$4,775,646$4,405,308▼ $370,338

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,523,246-$1,523,246
Buildings$761,182-$761,182
Other Land Buildings$69,827-$69,827
Equipment$7,159-$7,159
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Jin K HongPresident
Minsook SuhTresurer
Revenue and Support

Revenue Composition

Contributions and Grants
$43,945
Program Service Revenue
$12,314
Investment Income
$13,424
Other Revenue
$5,161
All Other Contributions
$43,945
Change in Net Assets
$-90,410

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$31,942Stock Transfer
Total Noncash Contributions1$31,942-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$81,140
Grants and Similar Amounts Paid$61,706
Salaries, Compensation, and Employee Benefits$22,408
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$61,706--$61,706
Occupancy$24,203$10,373$0$34,576
Depreciation Depletion$0$26,613$0$26,613
Other Salaries and Wages$20,530$0$0$20,530
All Other Expenses$924$4,483$0$5,407
Travel$4,676$0$0$4,676
Payroll Taxes$1,878$0$0$1,878
Office Expenses$0$1,282$0$1,282
Conferences and Meetings$1,158$0$0$1,158
Fees for Services Accounting$0$900$0$900
Other Expenses$609$0$0$609
Total Functional Expenses$115,684$49,570$0$165,254
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Primax Foundation Inc
EIN
20-8081933
Phone
7145232532
Address
17036 INDUSTRY PL, LA MIRADA, CA 90638

Signing Officer

Name
Jin K Hong
Title
President
Phone
7145232532
Signed
2023-02-23
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
0
Employees
1
Volunteers
0

Preparer

Firm
Michael K Khim Accountancy Corporation
Address
3250 WILSHIRE BLVD STE 1705, LOS ANGELES, CA 90010
Preparer
Michael K Khim
Phone
2137366789
Supplemental Narrative

Additional Explanations

Pt VI, Line 8A

“The meetings held have been documented by the Board of Directors.”

Pt VI, Line 11B

“Copy of form 990 was reviewed before filing it at the meeting of Board of Directors.”

Pt VI, Line 19

“Conflict of interest policy and financial statements are available to the board members during the tax year.”

Pt VI, Line 8B

“No committee with authority to act on behalf of the governing body.”

Pt VI, Line 15A

“No other officers or key employees”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0761182
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0761182
IRS990ScheduleD/EquipmentGrp/BookValueAmt07159
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07159
IRS990ScheduleD/LandGrp/BookValueAmt01523246
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01523246
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt069827
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt069827
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02361414
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0true
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0STOCK TRANSFER
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt031942
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The meetings held have been documented by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Copy of form 990 was reviewed before filing it at the meeting of Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflict of interest policy and financial statements are available to the board members during the tax year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No committee with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No other officers or key employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15a
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04775646
IRS990/TotalAssetsEOYAmt04405308
IRS990/TotalAssetsGrp/BOYAmt04775646
IRS990/TotalAssetsGrp/EOYAmt04405308
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt043945
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049570
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0115684
IRS990/TotalFunctionalExpensesGrp/TotalAmt0165254
IRS990/TotalGrossUBIAmt05000
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04775646
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04405308
IRS990/TotalProgramServiceExpensesAmt0115684
IRS990/TotalProgramServiceRevenueAmt012314
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025899
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt074844
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt05000
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04775646
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04405308
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt04676
IRS990/TravelGrp/TotalAmt04676
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt017036 INDUSTRY PL
IRS990/USAddress/CityNm0LA MIRADA
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090638
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JIN K HONG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07145232532
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-02-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PRIMAX FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0PRIM
ReturnHeader/Filer/EIN0208081933
ReturnHeader/Filer/PhoneNum07145232532
ReturnHeader/Filer/USAddress/AddressLine1Txt017036 INDUSTRY PL
ReturnHeader/Filer/USAddress/CityNm0LA MIRADA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090638
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0954677994
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MICHAEL K KHIM ACCOUNTANCY CORPORATION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03250 WILSHIRE BLVD STE 1705
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOS ANGELES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090010
ReturnHeader/PreparerPersonGrp/PhoneNum02137366789
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL K KHIM
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-03-03T09:42:48-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HONG
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,405,308
Liabilities
$0
Net assets
$4,405,308
Revenue
$74,844
Expenses
$165,254
Net income
-$90,410
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.60$0.00$4.60$0.06$0.16$0.10
2024Detailed filing. Detailed filing data is available for this year.$4.41$0.00$4.41$0.09$0.36$0.27
2023Detailed filing. Detailed filing data is available for this year.$4.48$0.00$4.48$0.11$0.30$0.19
2022Detailed filing. Detailed filing data is available for this year.$4.41$0.00$4.41$0.07$0.17$0.09
2021Detailed filing. Detailed filing data is available for this year.$4.78$0.00$4.78$0.28$0.06$0.22
2020Detailed filing. Detailed filing data is available for this year.$4.35$0.00$4.35$3.03$0.08$2.95
2019Detailed filing. Detailed filing data is available for this year.$1.33$0.00$1.33$0.22$0.08$0.14
2018Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.16$0.10$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.04$0.00$1.04$0.23$0.10$0.13
2016Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.19$0.10$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.25$0.09$0.16
2014Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.65$0.24$0.06$0.18
2013Detailed filing. Detailed filing data is available for this year.$0.47$0.47$0.14$0.05$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.39$0.39$0.14$0.09$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.34$0.13$0.06$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.27$0.12$0.09$0.03