Civic Intelligence

Nae IL Foundation Ltd

990 • Fiscal year 2021 • EIN 98-1525203

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

Organization ProfileWWW.NAEILFOUNDATION.ORG
Clarendon House 2 Church StreetHamilton HmBd

(917) 658-2227

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

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

2021 filings • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

12th percentile

0.00x

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

2021 filings • $50M-$100M nonprofits • Source year 2021

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

16th percentile

$0

Higher top officer pay than 16% of similar nonprofits.

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

2021 filings • $50M-$100M nonprofits • Source year 2021

Asset Growth

84th percentile

28%

Faster asset growth than 84% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

3rd percentile

-71%

Faster revenue growth than 3% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$50,776,401

Up $11,200,392 (+28%) from 2020

Net Assets

Up

$50,776,401

Up $11,200,392 (+28%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin98th percentile

Revenue

Down

$11,626,205

Down $28,617,246 (-71%) from 2020

Expenses

Down

$425,813

Down $241,629 (-36%) from 2020

Net Income

Down

$11,200,392

Down $28,375,617 (-72%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$60M$40M$20M$0Assets 2020: $39,576,009Liabilities 2020: $0Net Assets 2020: $39,576,0092020Assets 2021: $50,776,401Liabilities 2021: $0Net Assets 2021: $50,776,4012021Assets 2022: $38,028,994Liabilities 2022: $0Net Assets 2022: $38,028,9942022Assets 2023: $39,029,721Liabilities 2023: $0Net Assets 2023: $39,029,7212023Assets 2024: $46,035,775Liabilities 2024: $0Net Assets 2024: $46,035,7752024

Highlighted filing

2021

Assets$50,776,401
Liabilities$0
Net Assets$50,776,401
Open 2021 Filing

Operations Trend

Revenue Growth3rd percentile

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

$60M$40M$20M$0-$20MRevenue 2020: $40,243,451Expenses 2020: $667,442Net Income 2020: $39,576,0092020Revenue 2021: $11,626,205Expenses 2021: $425,813Net Income 2021: $11,200,3922021Revenue 2022: $709,096Expenses 2022: $430,202Net Income 2022: $278,8942022Revenue 2023: $1,581,308Expenses 2023: $468,456Net Income 2023: $1,112,8522023Revenue 2024: -$167,944Expenses 2024: $420,147Net Income 2024: -$588,0912024

Highlighted filing

2021

Revenue$11,626,205
Expenses$425,813
Net Income$11,200,392
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.2
Gross Receipts
$11,626,205
Mission and Program Overview

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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$39,056,813$39,056,813→ $0
Cash and Non-Interest-Bearing Accounts$19,196$9,855,358▲ $9,836,162
Savings and Temporary Cash Investments-$1,364,230-
Total Assets$39,576,009$50,776,401▲ $11,200,392
Other Assets Total$500,000$500,000→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$39,576,009$50,776,401▲ $11,200,392
Total Net Assets Fund Balance$39,576,009$50,776,401▲ $11,200,392
Total Liabilities and Net Assets / Fund Balance$39,576,009$50,776,401▲ $11,200,392

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$39,056,813--
Compensation and Service Providers
Top Officer Pay16th percentile

Board Members and Trustees

NameTitle
Michael LeeDirector
So Young KimDirector, Secretary
William MoonDirector, Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$11,626,205
Other Revenue
$0
Change in Net Assets
$11,200,392
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$301,050
Other Expenses$124,763
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$301,050--$301,050
Fees for Services Legal-$86,912-$86,912
Information Technology-$20,100-$20,100
Fees for Services Accounting-$12,150-$12,150
Travel-$4,798-$4,798
Office Expenses-$803-$803
Total Functional Expenses$301,050$124,763$0$425,813
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Korean American Association of Greater New YorkNew York, NY-SPONSORSHIP OF KAAGNY GALA ($100K) AND STOP ASIAN HATE CAMPAIGN ($10K)$110,000
Korean War Veterans Memorial FoundationNew Windsor, MD501(c)(3)Raise Awareness of Korean War$81,050
Gold House Foundation IncWalnut, CA501(c)(3)To Raise Awareness of the Film Minari$50,000
Multicultural Media & Correspondents AssociationWashington District of, DC501(c)(3)Sponsorship of Mmca Sheroes in Media Awards Gala$50,000
Korean American CoalitionLos Angeles, CA501(c)(3)Stop Asian Hate Campaign$10,000

International Summary

Offices
1
Employees
1
Spending
$9,855,358

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-11$9,855,358
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 8B

“The organization does not have committees that act on behalf of the governing body.”

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

“The form 990 is prepared by an public accounting firm in collaboration with the treasurer. A copy of the form 990 distributed to the directors for comments before filing.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Nae Il Foundation Ltd
EIN
98-1525203
Phone
9176582227
Address
BD
Doing Business As
Naeil

Signing Officer

Name
William Moon
Title
Treasurer
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Moon
Formed
2020
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Deloitte Tax Llp
Address
50 SOUTH SIXTH STREET, MINNEAPOLIS, MN 55402
Preparer
Chris Meskimen
Phone
6123974000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“The organization began a new program service, stop asian hate campaign, during the year.”

Form 990, Part III, Line 3

“Covid relief program and 2020 census program were not repeated in during calendar year 2021.”

Raw XML Appendix353 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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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2RAISE AWARENESS OF KOREAN WAR
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SPONSORSHIP OF MMCA SHEROES IN MEDIA AWARDS GALA
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GOLD HOUSE FOUNDATION INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1KOREAN AMERICAN COALITION
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3MULTICULTURAL MEDIA & CORRESPONDENTS ASSOCIATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4THE KOREAN AMERICAN ASSOCIATION OF GREATER NEW YORK
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S DUE DILIGENCE PROCESS CONTINUED TO EVOLVE AND WE WERE ABLE TO PERFORM DUE DILIGENCE ON ALL ORGANIZATIONS THAT WE ARE PLANNING TO MAKE GRANTEES. MOST GRANTS ARE SHORT TERM IN NATURE WITH CLEAR DELIVERABLES AND WE MONITOR FOR PERFORMANCE AT THE END OF THE GRANT TERM.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION BEGAN A NEW PROGRAM SERVICE, STOP ASIAN HATE CAMPAIGN, DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COVID RELIEF PROGRAM AND 2020 CENSUS PROGRAM WERE NOT REPEATED IN DURING CALENDAR YEAR 2021.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT HAVE COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY AN PUBLIC ACCOUNTING FIRM IN COLLABORATION WITH THE TREASURER. A COPY OF THE FORM 990 DISTRIBUTED TO THE DIRECTORS FOR COMMENTS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt039576009
IRS990/TotalAssetsGrp/EOYAmt050776401
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0301050
IRS990/TotalFunctionalExpensesGrp/TotalAmt0425813
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IRS990/TotalReportableCompFromOrgAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0HTTPS://WWW.NAEILFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DELOITTE TAX LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 SOUTH SIXTH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055402
ReturnHeader/PreparerPersonGrp/PhoneNum06123974000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRIS MESKIMEN
ReturnHeader/ReturnTs02022-11-14T13:35:52-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MOON
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$50,776,401
Liabilities
$0
Net assets
$50,776,401
Revenue
$11,626,205
Expenses
$425,813
Net income
$11,200,392
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.0$0.00$46.0$0.17$0.42$0.59
2023Detailed filing. Detailed filing data is available for this year.$39.0$0.00$39.0$1.58$0.47$1.11
2022Detailed filing. Detailed filing data is available for this year.$38.0$0.00$38.0$0.71$0.43$0.28
2021Detailed filing. Detailed filing data is available for this year.$50.8$0.00$50.8$11.6$0.43$11.2
2020Detailed filing. Detailed filing data is available for this year.$39.6$0.00$39.6$40.2$0.67$39.6