Civic Intelligence

Nae IL Foundation Ltd

990 • Fiscal year 2023 • EIN 98-1525203

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

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

13th percentile

0.00x

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

2023 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

13th percentile

0.00x

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

2023 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2023

Net Margin

88th percentile

70%

Higher net margin than 88% of similar nonprofits.

2023 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

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

2023 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2023

Asset Growth

40th percentile

2.6%

Faster asset growth than 40% of similar nonprofits.

2023 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

123%

Faster revenue growth than 86% of similar nonprofits.

2023 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets13th percentile

Assets

Up

$39,029,721

Up $1,000,727 (+2.6%) from 2022

Net Assets

Up

$39,029,721

Up $1,000,727 (+2.6%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin88th percentile

Revenue

Up

$1,581,308

Up $872,212 (+123%) from 2022

Expenses

Up

$468,456

Up $38,254 (+8.9%) from 2022

Net Income

Up

$1,112,852

Up $833,958 (+299%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2023

Assets$39,029,721
Liabilities$0
Net Assets$39,029,721
Open 2023 Filing

Operations Trend

Revenue Growth86th 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

2023

Revenue$1,581,308
Expenses$468,456
Net Income$1,112,852
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$1,581,308
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$26,030,512$26,030,512→ $0
Investments in Publicly Traded Securities-$11,329,228-
Cash and Non-Interest-Bearing Accounts$1,335,810$1,315,534▼ $20,276
Savings and Temporary Cash Investments$10,662,672$354,447▼ $10,308,225
Total Assets$38,028,994$39,029,721▲ $1,000,727
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$38,028,994$39,029,721▲ $1,000,727
Total Net Assets Fund Balance$38,028,994$39,029,721▲ $1,000,727
Total Liabilities and Net Assets / Fund Balance$38,028,994$39,029,721▲ $1,000,727

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$26,030,512--
Compensation and Service Providers
Top Officer Pay27th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,581,308
Other Revenue
$0
Change in Net Assets
$1,112,852
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$375,000
Other Expenses$93,456
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$375,000--$375,000
Fees for Services Legal-$61,583-$61,583
Fees for Services Accounting-$29,180-$29,180
Travel-$1,198-$1,198
Office Expenses-$1,154-$1,154
Other Expenses-$341-$341
Total Functional Expenses$375,000$93,456$0$468,456
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Korean American Family Service CenterQueens, NY501(c)(3)Raise Awareness and Address Domestic Violence and Sexual Assault Victims From a Combined Prevention and Intervention Perspective$300,000
Korean-american Community FoundationNew York, NY501(c)(3)Raising Funds for Programs Serving Under-resourced Korean American Individuals and Families, While Also Mobilizing Community Members to Engage in a Culture of Giving$50,000
The Korean American Association of Greater New YorkNew York, NY501(c)(3)Advancing the Interests, Rights, and Welfare of Korean Americans, and Enhancing the Friendship and Understanding Between the Korean American Community and the Wider Public$25,000

International Summary

Offices
1
Employees
1
Spending
$1,315,534

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$1,315,534
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 are 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
2024-11-14
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
111 MONUMENT CIRCLE SUITE 4200, INDIANAPOLIS, IN 46204
Preparer
Jeffrey D Frank
Phone
3174648600
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/MissionDesc0NAEIL 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.
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IRS990/ProgSrvcAccomActy2Grp/Desc0SUPPORT FOR THE KOREAN AMERICAN COMMUNITY FOUNDATION (KACF) WHICH PROVIDES GRANTS AND ORGANIZATIONAL DEVELOPMENT SUPPORT TO NONPROFIT GROUPS WORKING TO ADDRESS THE MOST PRESSING NEEDS IN THE KOREAN AMERICAN COMMUNITY AND BEYOND.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0RAISE AWARENESS AND ADDRESS DOMESTIC VIOLENCE AND SEXUAL ASSAULT VICTIMS FROM A COMBINED PREVENTION AND INTERVENTION PERSPECTIVE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1ADVANCING THE INTERESTS, RIGHTS, AND WELFARE OF KOREAN AMERICANS, AND ENHANCING THE FRIENDSHIP AND UNDERSTANDING BETWEEN THE KOREAN AMERICAN COMMUNITY AND THE WIDER PUBLIC
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2RAISING FUNDS FOR PROGRAMS SERVING UNDER-RESOURCED KOREAN AMERICAN INDIVIDUALS AND FAMILIES, WHILE ALSO MOBILIZING COMMUNITY MEMBERS TO ENGAGE IN A CULTURE OF GIVING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0KOREAN AMERICAN FAMILY SERVICE CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1THE KOREAN AMERICAN ASSOCIATION OF GREATER NEW YORK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2KOREAN-AMERICAN COMMUNITY FOUNDATION
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2135 EAST 64TH STREET
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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 ARE 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/TaxExemptBondsInd00
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IRS990/WebsiteAddressTxt0HTTPS://WWW.NAEILFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/ReturnTs02024-11-14T20:44:16-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,029,721
Liabilities
$0
Net assets
$39,029,721
Revenue
$1,581,308
Expenses
$468,456
Net income
$1,112,852
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