Jung Hwang Legacy Foundation Inc

Analysis

Jung Hwang Legacy Foundation Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in June 2021, 5 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Jung Hwang Legacy Foundation Inc reported income of $58k and spending of $64k, spending 110% of what it took in. Across the 2 years on record, from December 2020 to December 2023, income grew from $13k to $58k (+357%), an average of +357% a year. The sharpest change came in the year to December 2023, when income rose by 357%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Jung Hwang Legacy Foundation Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 21st percentile within KY. Charities of a similar size with the same main cause include Chilmark Volunteer Firemans Association Inc ($58k), Global Hero Foundation Inc ($58k) and Muskingum County Senior Services Advisory Council Inc ($58k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $51k against liabilities of $0, net assets of $51k.