Nonprofit · EIN 85-0795572
KAESONG FOUNDATION
Tax-exempt · RALEIGH, NC 27613
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $49,787 | $47,034 | $2,753 | $518,249 | $0 | $518,249 |
| December 31, 2023 | 990 | $71,289 | $55,815 | $15,474 | $479,820 | $0 | $479,820 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $20,000
- Program service revenue
- $0
- Investment income
- $29,787
- Net gain from sales of assets
- $8,455
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $25,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $3,575
- Accounting fees
- $1,349
- Program services (functional)
- $27,565
- Management and general (functional)
- $18,614
- Fundraising (functional)
- $855
Balance sheet and other
- Total assets, start of year
- $479,820
- Total assets, end of year
- $518,249
- Total liabilities, end of year
- $0
- Net assets, end of year
- $518,249
- Publicly traded securities
- $121,518
- Gross receipts
- $81,766
- Employees
- 0
- Volunteers
- 3
- Year formed
- 2020
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK LEE | PRESIDENT Trustee or director, Officer | 3 | $0 |
| SUNGSOOK LEE | VICE PRESIDENT Trustee or director, Officer | 3 | $0 |
| DIANA LEE | TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK LEE | PRESIDENT Trustee or director, Officer | 3 | $0 |
| SUNGSOOK LEE | VICE PRESIDENT Trustee or director, Officer | 3 | $0 |
| DIANA LEE | TREASURER Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 8909 OLD CREEDMOOR RD, RALEIGH, NC 27613-6528
- In care of
- % MARK LEE
- Principal officer (990 for 2024)
- MARK LEE, 8909 OLD CREEDMOOR RD, RALEIGH, NC 27613
- Signed the 990
- MARK LEE, DIRECTOR & PRESIDENT
- Phone
- (919) 928-3894
- Return prepared by
- ANDERSON GLOBAL BUSINESS GROUP LLC
Mission
SPREAD GOD'S LOVE, PROMISES AND GRACE BY DELIVERING HUMANITARIAN AID AND RELIEF TO THE POOR.
Program accomplishments
- THE NONPROFIT MADE DONATIONS TO VARIOUS CHURCHES AND PROVIDED SMALL GROUP MEALS FOR ONE CHURCH. THE NONPROFIT IS RESEARCHING INTO FUNDING CHRISTIAN MISSION TRIPS THAT PROVIDE EDUCATION, SUBSISTENCE, AND SUPPLIES FOR UNDEVELOPED COMMUNITIES.Expenses $27,565 · grants $25,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-0795572
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Religion-related (X20)
- Assets (IRS master file)
- $518,249
- Income (IRS master file)
- $81,766
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $49,787 | $47,034 | $518,249 | IRS |
| 990 | December 2023 | $71,289 | $55,815 | $479,820 | XML |
| 990 | December 2022 | $115,726 | $57,426 | $452,206 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0795572).
Questions about KAESONG FOUNDATION
- What is the EIN of KAESONG FOUNDATION?
- The employer identification number (EIN) of KAESONG FOUNDATION is 85-0795572.
- Is KAESONG FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to KAESONG FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does KAESONG FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of KAESONG FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did KAESONG FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of KAESONG FOUNDATION?
- The 990 for the year ended December 31, 2024 names MARK LEE.
- Who are the officers and directors of KAESONG FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does KAESONG FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $49,787, expenses of $47,034 and total assets of $518,249 at year end.
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