Liabilities / Assets
78th percentile
Higher debt load relative to assets than 78% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.03x
Liabilities / Revenue
77th percentile
Higher debt load relative to revenue than 77% of similar nonprofits.
Net Margin
68th percentile
Higher net margin than 68% of similar nonprofits.
Top Officer Pay
88th percentile
Higher top officer pay than 88% of similar nonprofits.
Top officer pay equals 7.8% of source-year revenue.
Asset Growth
52nd percentile
Faster asset growth than 52% of similar nonprofits.
Revenue Growth
73rd percentile
Faster revenue growth than 73% of similar nonprofits.
Balance Sheet
Assets
Up$275,402
Up $31,104 (+13%) from 2019
Net Assets
Up$268,093
Up $46,241 (+21%) from 2019
Liabilities
Down$7,309
Down $15,137 (-67%) from 2019
Revenue And Expenses
Revenue
Up$295,075
Up $39,736 (+16%) from 2019
Expenses
Down$248,834
Down $21,424 (-7.9%) from 2019
Net Income
Up$46,241
Up $61,160 (+410%) from 2019
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2020 to Dec 31, 2020
- Signed
- Sep 2, 2021
- Return Version
- 2020v4.0
- Gross Receipts
- $295,075
Mission and Program Overview
Mission
To encourage education and educational excellence through academic programs, grants, scholarship, and financial assistance to the students and people underprivileged in the united states and developing countries who do not have learning opportunities due to financial hardship. To provide the students with various opportunities to achieve the academic, musical, artistic and spiritual development so that in the future they can give back, directly or indirectly, same chances and hopes to the children underprivileged.
SEE SCHEDULE O
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $203,809 | $225,666 | ▲ $21,857 |
| Cash and Non-Interest-Bearing Accounts | $23,067 | $49,467 | ▲ $26,400 |
| Prepaid Expenses and Deferred Charges | $14,022 | $269 | ▼ $13,753 |
| Total Assets | $244,298 | $275,402 | ▲ $31,104 |
| Other Assets Total | $3,400 | - | - |
| Liabilities | |||
| Other Liabilities | $21,571 | $5,490 | ▼ $16,081 |
| Accounts Payable and Accrued Expenses | $875 | $1,819 | ▲ $944 |
| Total Liabilities | $22,446 | $7,309 | ▼ $15,137 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $221,852 | $268,093 | ▲ $46,241 |
| Total Net Assets Fund Balance | $221,852 | $268,093 | ▲ $46,241 |
| Total Liabilities and Net Assets / Fund Balance | $244,298 | $275,402 | ▲ $31,104 |
Compensation and Service Providers
Employees
| Name | Title | Base | Total |
|---|---|---|---|
| Sungbong Kim | Executive Di | $22,873 | $22,873 |
Board Members and Trustees
| Name | Title |
|---|---|
| Hyungmin Lee | President |
| Eric Kang | Trustee |
| Jimmy Song | Trustee |
| Edward Yun | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $273,218
- Program Service Revenue
- $0
- Investment Income
- $21,857
- Other Revenue
- $0
- All Other Contributions
- $259,768
- Change in Net Assets
- $46,241
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $159,816 |
| Other Expenses | $78,289 |
| Grants and Similar Amounts Paid | $10,729 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $98,199 | $17,329 | - | $115,528 |
| Current Officers, Directors, Trustees, and Key Employees | $22,873 | - | - | $22,873 |
| Occupancy | $15,087 | $2,663 | - | $17,750 |
| Fees for Services Other | $13,610 | $2,403 | - | $16,013 |
| Payroll Taxes | $13,009 | $2,296 | - | $15,305 |
| Grants to Domestic Orgs | $10,729 | - | - | $10,729 |
| Office Expenses | $8,247 | $1,455 | - | $9,702 |
| Insurance | $7,278 | $1,284 | - | $8,562 |
| Other Employee Benefits | $5,194 | $916 | - | $6,110 |
| Fees for Services Legal | $2,846 | $502 | - | $3,348 |
| All Other Expenses | $550 | $97 | - | $647 |
| Other Expenses | $480 | $85 | - | $565 |
| Information Technology | $257 | $45 | - | $302 |
| Advertising | $85 | $15 | - | $100 |
| Total Functional Expenses | $216,549 | $32,285 | $0 | $248,834 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Accrued Expenses | $2,609 |
| Credit Card | $1,688 |
| Flexible Spending Account Payable | $625 |
| 401 (k) Payable | $568 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Backup withholding compliance
- No
- 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
- No
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- No
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 11B
“Once the form 990 is prepared by the paid preparer, it is presented to the treasurer for an initial review. Upon the intial review performed by the treasurer, he or she provides the entire package to the president for the second review. Once reviewed by the president, it is presented to the board of trustees for the final review and sign-off.”
Form 990, Page 6, Part VI, Line 15B
“The compensation and other benefit package, if any, of any officers are reviewed and approved by the board of trustees.”
Form 990, Page 6, Part VI, Line 19
“The governing documents are available to the general public on a written or in-person request at the principle office of the organization.”
Filing and Contact Details
Filer
- Filer Name
- Give Chances Inc
- EIN
- 45-0725864
- Phone
- 2012660726
- Address
- 235 PEGASUS AVE, NORTHVALE, NJ 07647
Signing Officer
- Name
- Hyungmin Lee
- Title
- President
- Phone
- 2012660726
- Signed
- 2021-09-02
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Hyungmin Lee
- Formed
- 2011
- Legal Domicile
- Nj
- Voting Board Members
- 5
- Independent Board Members
- 2
- Employees
- 6
- Volunteers
- 41
Preparer
- Firm
- Klichs Llp
- Address
- 3505 KOGER BLVD STE 350, DULUTH, GA 30096-8900
- Preparer
- Youngtae Kim
- Phone
- 4708513600
Supplemental Narrative
Additional Explanations
Form 990
“Organization's mission or most significant activities to encourage education and educational excellence through academic programs, grants, scholarship, and financial assistqance to the students and people privileged in the united states and developing countries who do not have learning opportunities due to financial hardship. To provide the students with various opportunities to achive the academic,musical, artistic and spiritual development so that in the future they can give back, directly or indirectly, same chances and hopes to the children privileged.”
Form 990, Part III
“Organization's mission 1. To encourage education and educational excellence through academic programs, grants, scholarship, and financial assistqance to the students and people privileged in the united states and developing countries who do not have learning opportunities due to financial hardship. 2. To provide the students with various opportunities to achive the academic,musical, artistic and spiritual development so that in the future they can give back, directly or indirectly, same chances and hopes to the children privileged.”
Form 990, Page 2, Part III, Line 4D
“MANAGEMENT & GENERAL”
Raw XML Appendix363 raw XML fields
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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| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignOfficeInd | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 40.00 |
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| IRS990/FormationYr | 0 | 2011 |
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| IRS990ScheduleA/SubstantialContributorsTotAmt | 0 | 430166 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 273218 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 251253 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 167248 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 121457 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 275167 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 1088343 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 1118066 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 2609 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 1688 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 625 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 3 | 568 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | ACCRUED EXPENSES |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | CREDIT CARD |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | FLEXIBLE SPENDING ACCOUNT PAYABLE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 3 | 401 (K) PAYABLE |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 5490 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES TO ENCOURAGE EDUCATION AND EDUCATIONAL EXCELLENCE THROUGH ACADEMIC PROGRAMS, GRANTS, SCHOLARSHIP, AND FINANCIAL ASSISTQANCE TO THE STUDENTS AND PEOPLE PRIVILEGED IN THE UNITED STATES AND DEVELOPING COUNTRIES WHO DO NOT HAVE LEARNING OPPORTUNITIES DUE TO FINANCIAL HARDSHIP. TO PROVIDE THE STUDENTS WITH VARIOUS OPPORTUNITIES TO ACHIVE THE ACADEMIC,MUSICAL, ARTISTIC AND SPIRITUAL DEVELOPMENT SO THAT IN THE FUTURE THEY CAN GIVE BACK, DIRECTLY OR INDIRECTLY, SAME CHANCES AND HOPES TO THE CHILDREN PRIVILEGED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | ORGANIZATION'S MISSION 1. TO ENCOURAGE EDUCATION AND EDUCATIONAL EXCELLENCE THROUGH ACADEMIC PROGRAMS, GRANTS, SCHOLARSHIP, AND FINANCIAL ASSISTQANCE TO THE STUDENTS AND PEOPLE PRIVILEGED IN THE UNITED STATES AND DEVELOPING COUNTRIES WHO DO NOT HAVE LEARNING OPPORTUNITIES DUE TO FINANCIAL HARDSHIP. 2. TO PROVIDE THE STUDENTS WITH VARIOUS OPPORTUNITIES TO ACHIVE THE ACADEMIC,MUSICAL, ARTISTIC AND SPIRITUAL DEVELOPMENT SO THAT IN THE FUTURE THEY CAN GIVE BACK, DIRECTLY OR INDIRECTLY, SAME CHANCES AND HOPES TO THE CHILDREN PRIVILEGED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | MANAGEMENT & GENERAL |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | ONCE THE FORM 990 IS PREPARED BY THE PAID PREPARER, IT IS PRESENTED TO THE TREASURER FOR AN INITIAL REVIEW. UPON THE INTIAL REVIEW PERFORMED BY THE TREASURER, HE OR SHE PROVIDES THE ENTIRE PACKAGE TO THE PRESIDENT FOR THE SECOND REVIEW. ONCE REVIEWED BY THE PRESIDENT, IT IS PRESENTED TO THE BOARD OF TRUSTEES FOR THE FINAL REVIEW AND SIGN-OFF. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE COMPENSATION AND OTHER BENEFIT PACKAGE, IF ANY, OF ANY OFFICERS ARE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE GOVERNING DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC ON A WRITTEN OR IN-PERSON REQUEST AT THE PRINCIPLE OFFICE OF THE ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART III |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | NJ |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 244298 |
| IRS990/TotalAssetsEOYAmt | 0 | 275402 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 244298 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 275402 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 273218 |
| IRS990/TotalEmployeeCnt | 0 | 6 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 32285 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 216549 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 248834 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 22446 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 7309 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 22446 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 7309 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 221852 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 268093 |
| IRS990/TotalOtherProgSrvcExpenseAmt | 0 | 427 |
| IRS990/TotalOtherProgSrvcGrantAmt | 0 | 427 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 216549 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 22873 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 21857 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 295075 |
| IRS990/TotalVolunteersCnt | 0 | 41 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 244298 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 275402 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/USAddress/AddressLine1Txt | 0 | 235 PEGASUS AVE |
| IRS990/USAddress/CityNm | 0 | NORTHVALE |
| IRS990/USAddress/StateAbbreviationCd | 0 | NJ |
| IRS990/USAddress/ZIPCd | 0 | 07647 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 5 |
| IRS990/VotingMembersIndependentCnt | 0 | 2 |
| IRS990/WebsiteAddressTxt | 0 | WWW.GIVECHANCES.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | false |
| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | HYUNGMIN LEE |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 2012660726 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2021-09-02 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | GIVE CHANCES INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | GIVE |
| ReturnHeader/Filer/EIN | 0 | 450725864 |
| ReturnHeader/Filer/PhoneNum | 0 | 2012660726 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 235 PEGASUS AVE |
| ReturnHeader/Filer/USAddress/CityNm | 0 | NORTHVALE |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | NJ |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 07647 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 462608003 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | KLICHS LLP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 3505 KOGER BLVD STE 350 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | DULUTH |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | GA |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 300968900 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 4708513600 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2021-09-10 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | YOUNGTAE KIM |
| ReturnHeader/ReturnTs | 0 | 2021-09-10T09:29:04-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm | 0 | HYUNGMIN |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | LEE |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2020-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2020-12-31 |
| ReturnHeader/TaxYr | 0 | 2020 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $275,402
- Liabilities
- $7,309
- Net assets
- $268,093
- Revenue
- $295,075
- Expenses
- $248,834
- Net income
- $46,241