Civic Intelligence

Nae IL Foundation Ltd

990 • Fiscal year 2022 • EIN 98-1525203

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

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

14th percentile

0.00x

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

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

14th percentile

0.00x

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

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Net Margin

79th percentile

39%

Higher net margin than 79% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

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

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Asset Growth

11th percentile

-25%

Faster asset growth than 11% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$38,028,994

Down $12,747,407 (-25%) from 2021

Net Assets

Down

$38,028,994

Down $12,747,407 (-25%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin79th percentile

Revenue

Down

$709,096

Down $10,917,109 (-94%) from 2021

Expenses

Up

$430,202

Up $4,389 (+1.0%) from 2021

Net Income

Down

$278,894

Down $10,921,498 (-98%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth11th 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

2022

Assets$38,028,994
Liabilities$0
Net Assets$38,028,994
Open 2022 Filing

Operations Trend

Revenue Growth1st 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

2022

Revenue$709,096
Expenses$430,202
Net Income$278,894
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$709,096
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$26,030,512▼ $13,026,301
Savings and Temporary Cash Investments$1,364,230$10,662,672▲ $9,298,442
Cash and Non-Interest-Bearing Accounts$9,855,358$1,335,810▼ $8,519,548
Total Assets$50,776,401$38,028,994▼ $12,747,407
Other Assets Total$500,000$0▼ $500,000
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$50,776,401$38,028,994▼ $12,747,407
Total Net Assets Fund Balance$50,776,401$38,028,994▼ $12,747,407
Total Liabilities and Net Assets / Fund Balance$50,776,401$38,028,994▼ $12,747,407

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$26,030,512--
Compensation and Service Providers
Top Officer Pay25th 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
$709,096
Other Revenue
$0
Change in Net Assets
$278,894
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$391,000
Other Expenses$39,202
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$391,000--$391,000
Fees for Services Legal-$23,343-$23,343
Information Technology-$6,608-$6,608
Fees for Services Accounting-$4,625-$4,625
Other Expenses-$2,975-$2,975
Office Expenses-$857-$857
Travel-$794-$794
Total Functional Expenses$391,000$39,202$0$430,202
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Korean American Association of Greater New YorkNew York, NY501(c)(3)2022 Kaagny Gala Sponsorship and Stop Asian Hate Campaign$125,000
Korean American CoalitionLos Angeles, CA501(c)(3)Civic and Civil Rights Support and Stop Asian Hate Campaign$110,000
Family Touch IncLittle Ferry, NJ501(c)(3)Family Counseling and Education$60,000
Madison Square Park ConservancyNew York, NY501(c)(3)A Taste of Asia in Nyc Event Support to Raise Awareness of Korean Culture$50,000
Korean American Family Service CenterQueens, NY501(c)(3)KAFSC'S 33RD ANNIVERSARY BENEFIT GALA TO PREVENT AND END DOMESTIC VIOLENCE, SEXUAL ASSAULT, AND RELATIONSHIP ABUSE, AND CREATING A VIOLENCE-FREE SOCIETY$40,000
Koreanamericanstoryorg IncScarsdale, NY501(c)(3)Raise Awareness of the Korean American Story$6,000

International Summary

Offices
1
Employees
1
Spending
$1,335,810

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$1,335,810
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
2023-11-13
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
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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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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1KAFSC'S 33RD ANNIVERSARY BENEFIT GALA TO PREVENT AND END DOMESTIC VIOLENCE, SEXUAL ASSAULT, AND RELATIONSHIP ABUSE, AND CREATING A VIOLENCE-FREE SOCIETY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2CIVIC AND CIVIL RIGHTS SUPPORT AND STOP ASIAN HATE CAMPAIGN
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3FAMILY COUNSELING AND EDUCATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4A TASTE OF ASIA IN NYC EVENT SUPPORT TO RAISE AWARENESS OF KOREAN CULTURE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5RAISE AWARENESS OF THE KOREAN AMERICAN STORY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE KOREAN AMERICAN ASSOCIATION OF GREATER NEW YORK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1KOREAN AMERICAN FAMILY SERVICE CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2KOREAN AMERICAN COALITION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3FAMILY TOUCH INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4MADISON SQUARE PARK CONSERVANCY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5KOREANAMERICANSTORYORG INC
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S DUE DILIGENCE PROCESS IS IN PLACE 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/PreparerPersonGrp/PhoneNum06123974000
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ReturnHeader/ReturnTs02023-11-14T02:19:51-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM
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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
$38,028,994
Liabilities
$0
Net assets
$38,028,994
Revenue
$709,096
Expenses
$430,202
Net income
$278,894
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