Civic Intelligence

Kaesong Foundation

990 • Fiscal year 2021 • EIN 85-0795572

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 14, 2022

Organization ProfileN/A
2545 Finkle Grant DriveNew Hill, NC 27562

(919) 928-3894

Siviq Scores

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

Liabilities / Assets

59th percentile

0.00x

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

2021 filings • NTEE X20 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

61st percentile

0.00x

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

2021 filings • NTEE X20 • <$500k nonprofits • Source year 2021

Net Margin

91st percentile

66%

Higher net margin than 91% of similar nonprofits.

2021 filings • NTEE X20 • <$500k nonprofits • Source year 2021

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

2021 filings • NTEE X20 • <$500k nonprofits • Source year 2021

Asset Growth

58th percentile

24%

Faster asset growth than 58% of similar nonprofits.

2021 filings • NTEE X20 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

5th percentile

-69%

Faster revenue growth than 5% of similar nonprofits.

2021 filings • NTEE X20 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$422,478

Up $81,492 (+24%) from 2020

Net Assets

Up

$422,478

Up $81,492 (+24%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin91st percentile

Revenue

Down

$115,555

Down $252,505 (-69%) from 2020

Expenses

Up

$39,130

Up $12,056 (+45%) from 2020

Net Income

Down

$76,425

Down $264,561 (-78%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$600K$400K$200K$0Assets 2020: $340,986Liabilities 2020: $0Net Assets 2020: $340,9862020Assets 2021: $422,478Liabilities 2021: $0Net Assets 2021: $422,4782021Assets 2022: $452,206Liabilities 2022: $0Net Assets 2022: $452,2062022Assets 2023: $479,820Liabilities 2023: $0Net Assets 2023: $479,8202023Assets 2024: $518,249Liabilities 2024: $0Net Assets 2024: $518,2492024

Highlighted filing

2021

Assets$422,478
Liabilities$0
Net Assets$422,478
Open 2021 Filing

Operations Trend

Revenue Growth5th percentile

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

$400K$300K$200K$100K$0Revenue 2020: $368,060Expenses 2020: $27,074Net Income 2020: $340,9862020Revenue 2021: $115,555Expenses 2021: $39,130Net Income 2021: $76,4252021Revenue 2022: $115,726Expenses 2022: $57,426Net Income 2022: $58,3002022Revenue 2023: $71,289Expenses 2023: $55,815Net Income 2023: $15,4742023Revenue 2024: $49,787Expenses 2024: $47,034Net Income 2024: $2,7532024

Highlighted filing

2021

Revenue$115,555
Expenses$39,130
Net Income$76,425
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 14, 2022
Return Version
2021v4.2
Gross Receipts
$115,555
Mission and Program Overview

Mission

Spread god's love, promises and grace by delivering humanitarian aid and relief to the poor.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$340,986$422,478▲ $81,492
Savings and Temporary Cash Investments-$269,579-
Investments in Publicly Traded Securities-$150,899-
Cash and Non-Interest-Bearing Accounts$340,986$2,000▼ $338,986
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$340,986$422,478▲ $81,492
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$340,986$422,478▲ $81,492
Total Liabilities and Net Assets / Fund Balance$340,986$422,478▲ $81,492
Compensation and Service Providers
Top Officer Pay74th percentile

Board Members and Trustees

NameTitle
Mark LeeDirector & President
Sungsook LeeDirector & Vice-president
Marcus LeeSecretary
Diana LeeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$101,995
Program Service Revenue
$0
Investment Income
$13,560
Other Revenue
$0
All Other Contributions
$101,995
Change in Net Assets
$76,425
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$24,000
Other Expenses$15,130
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$24,000--$24,000
Conferences and Meetings-$9,600-$9,600
Other Expenses-$1,310-$1,310
Travel-$1,020-$1,020
Office Expenses-$965-$965
Fees for Services Legal-$420-$420
Fees for Services Other-$135-$135
Total Functional Expenses$24,000$15,130$0$39,130
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
First Korean Baptist Church-501(c)(3)Fund Christian Mission Trips That Provide Education, Subsistence and Supplies for Undeveloped Communities$24,000
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Mark and sungsook lee are married. Diana and marcus lee are children of mark and sungsook lee.”

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is provided to the board members, who review the financial information, income and expenses to ensure everything is reported accurately and to ensure they are operating in furtherance of their stated charitable activities.”

Form 990, Part VI, Section B, Line 12C

“Each board member is required to disclose any potential conflicts and sign a statement annually.”

Form 990, Part VI, Section B, Line 15

“The nonprofit is not compensating its officers or directors; however if it does compensate an officer, director or key employee, it will comply with the rebuttable presumption standard described in section 4958 of the code. The nonprofit will document its decisions in writing and verify that the compensation is reasonable based on comparable salary, for a comparable position with similar duties and requirements, for a similarly-situated organization.”

Form 990, Part VI, Section C, Line 18

“Form 1023 and 990 are available for the public review upon request.”

Form 990, Part VI, Section C, Line 19

“The nonprofit hired another company to create its governing documents and prepare its tax returns. The nonprofit will work with that company to produce the requested documents and will furnish these requested documents upon request.”

Filing and Contact Details

Filer

Filer Name
Kaesong Foundation
EIN
85-0795572
Phone
9199283894
Address
2545 FINKLE GRANT DRIVE, NEW HILL, NC 27562

Signing Officer

Name
Mark Lee
Title
Director & President
Phone
9199283894
Signed
2022-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Lee
Formed
2020
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Anderson Law Group Pllc
Address
3225 MCLEOD DRIVE, LAS VEGAS, NV 89121
Preparer
Karim Hanafy
Phone
8889692677
Raw XML Appendix322 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/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR & PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR & VICE-PRESIDENT
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE KAESONG FOUNDATION WAS ORGANIZED IN 2020. THEREFORE, 2020 IS A SHORT YEAR.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, SHORT YEAR EXPLANATION:
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FIRST KOREAN BAPTIST CHURCH
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE NONPROFIT WILL MAKE GRANTS TO SIMILAR ORGANIZATIONS THAT WILL CARRY OUT SIMILAR CHARITABLE ACTIVITIES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MARK AND SUNGSOOK LEE ARE MARRIED. DIANA AND MARCUS LEE ARE CHILDREN OF MARK AND SUNGSOOK LEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD MEMBERS, WHO REVIEW THE FINANCIAL INFORMATION, INCOME AND EXPENSES TO ENSURE EVERYTHING IS REPORTED ACCURATELY AND TO ENSURE THEY ARE OPERATING IN FURTHERANCE OF THEIR STATED CHARITABLE ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH BOARD MEMBER IS REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS AND SIGN A STATEMENT ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE NONPROFIT IS NOT COMPENSATING ITS OFFICERS OR DIRECTORS; HOWEVER IF IT DOES COMPENSATE AN OFFICER, DIRECTOR OR KEY EMPLOYEE, IT WILL COMPLY WITH THE REBUTTABLE PRESUMPTION STANDARD DESCRIBED IN SECTION 4958 OF THE CODE. THE NONPROFIT WILL DOCUMENT ITS DECISIONS IN WRITING AND VERIFY THAT THE COMPENSATION IS REASONABLE BASED ON COMPARABLE SALARY, FOR A COMPARABLE POSITION WITH SIMILAR DUTIES AND REQUIREMENTS, FOR A SIMILARLY-SITUATED ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 1023 AND 990 ARE AVAILABLE FOR THE PUBLIC REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE NONPROFIT HIRED ANOTHER COMPANY TO CREATE ITS GOVERNING DOCUMENTS AND PREPARE ITS TAX RETURNS. THE NONPROFIT WILL WORK WITH THAT COMPANY TO PRODUCE THE REQUESTED DOCUMENTS AND WILL FURNISH THESE REQUESTED DOCUMENTS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK LEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR & PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09199283894
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KAESONG FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0KAES
ReturnHeader/Filer/EIN0850795572
ReturnHeader/Filer/PhoneNum09199283894
ReturnHeader/Filer/USAddress/AddressLine1Txt02545 FINKLE GRANT DRIVE
ReturnHeader/Filer/USAddress/CityNm0NEW HILL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027562
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0911956265
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANDERSON LAW GROUP PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03225 MCLEOD DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAS VEGAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NV
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd089121
ReturnHeader/PreparerPersonGrp/PhoneNum08889692677
ReturnHeader/PreparerPersonGrp/PreparationDt02022-04-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KARIM HANAFY
ReturnHeader/ReturnTs02022-04-14T14:22:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MARK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LEE
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$422,478
Liabilities
$0
Net assets
$422,478
Revenue
$115,555
Expenses
$39,130
Net income
$76,425
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.18$0.00$5.18$0.50$0.47$0.03
2023Detailed filing. Detailed filing data is available for this year.$4.80$0.00$4.80$0.71$0.56$0.15
2022Detailed filing. Detailed filing data is available for this year.$4.52$0.00$4.52$1.16$0.57$0.58
2021Detailed filing. Detailed filing data is available for this year.$4.22$0.00$4.22$1.16$0.39$0.76
2020Detailed filing. Detailed filing data is available for this year.$3.41$0.00$3.41$3.68$0.27$3.41