Korean Library Foundation in Honolulu, Hawaii (HI)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Organizations performing similar types of work
| Korean Library Foundation | |
| Employer Identification Number (EIN) | 203213697 |
| Name of Organization | Korean Library Foundation |
| In Care of Name | Jennifer Kim |
| Address | 1227 Koloa Street, Honolulu, HI 96816 |
| Website | http://www.klfhawaii.org |
| Subsection | Charitable Organization, Educational Organization |
| Ruling Date | 02/2013 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 2013 |
| Assets | $0 |
| Income | $0 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $164,649 |
| Amount of Income | $33,497 |
| Form 990 Revenue Amount | $33,497 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Fund Raising and/or Fund Distribution |
Non-representatives - add comments:
Amount of income in 2013: $33,497 (it was $0 in 2013)
| This organization: | $33,497 |
| Other organizations performing similar types of work: | $66,972 |
Assets in 2013: $164,649 (it was $0 in 2013)
| This organization: | $164,649 |
| Other organizations performing similar types of work: | $164,649 |
Expenses in 2011: $28,602
| This organization: | $28,602 |
| Other organizations performing similar types of work: | $64,294 |
Income to expenses ratio in 2011: 1.2
| Korean Library Foundation: | 1.2 |
| Other organizations performing similar types of work: | 1.3 |
Grants share in income in 2011: 99.7%
| Korean Library Foundation: | 99.7% |
| Other organizations performing similar types of work: | 67.4% |
Revenue for 2011
Expenses for 2011
| Analysis of Revenue and Expenses (for 2011) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $33,497 | $93 | $0 | |
| Contributions, gifts, grants, etc., received | $33,404 | |||
| Interest on savings and temporary cash investments | $93 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $28,602 | $0 | $0 | $22,018 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $6,584 | $0 | $0 | |
| Contributions, gifts, grants paid | $22,018 | |||
| Excess of revenue over expenses and disbursements | $4,895 | |||
| Net investment income | $93 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2011) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $164,649 | $164,649 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $164,649 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $164,649 | |
| Capital Gains and Losses for Tax on Investment Income (for 2011) | |
| Capital gain net income | $0 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2011) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $2 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $2 |
| Amount to be credited to 2012 estimated tax | $0 |
| Statements Regarding Activities (for 2011) | |
| During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2011) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2011) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $146,262 |
| Net value of noncharitable-use assets | $144,060 |
| Minimum investment return | $7,203 |
| Distributable Amount (for 2011) | |
| Distributable amount | $7,201 |
| Undistributed Income (for 2011) | |
| Distributable amount for 2011 | $7,201 |
| Undistributed income for 2011. This amount must be distributed in 2012 | $0 |
| Private Operating Foundations (for 2011) | |||||
| 2011 | 2010 | 2009 | 2008 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Qualifying distributions made directly for active conduct of exempt activities | $0 | $0 | $0 | $0 | $0 |
| Value of all assets | $0 | $0 | $0 | $0 | $0 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) | $0 | $0 | $0 | $0 | $0 |
| Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) | $0 | $0 | $0 | $0 | $0 |
| Gross investment income | $0 | $0 | $0 | $0 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Shared Knowledge Literacy Foundation | 8161 Mechanicsville Tnpk, Mechanicsville, VA 23111 | VA | 2009-06 | $1,474,399 |
| 2 | Abbott Library Foundation | Po Box 66, Sunapee, NH 03782 | NH | 2011-12 | $541,722 |
| 3 | Library Foundation For Sarasota County Inc | 4780 Cattlemen Rd, Sarasota, FL 34233-5038 | FL | 2012-05 | $331,741 |
| 4 | Walnut Creek Library Foundation | PO BOX 4979, Walnut Creek, CA 94596-0979 | CA | 1999-07 | $262,236 |
| 5 | Tulare County Library Foundation | 200 W Oak Ave, Visalia, CA 93291-4931 | CA | 1999-03 | $163,368 |
| 6 | The Friends Of The Cupertino Library | 10800 Torre Ave, Cupertino, CA 95014-3234 | CA | 1999-05 | $100,465 |
| 7 | Friends Of Libraries And Archives Of Texas Inc | 1201 Brazos, Austin, TX 78711 | TX | 2001-03 | $55,703 |
| 8 | Rutherford Public Library Foundation | 150 Park Avenue, Rutherford, NJ 07070 | NJ | 2011-03 | $47,311 |
| 9 | Vermont Public Library Foundation Inc | 109 State Street, Montpelier, VT 05609-0002 | VT | 2000-09 | $36,198 |
| 10 | Friends Of The Manistee County Library | 95 Maple Street, Manistee, MI 49660 | MI | 2002-05 | $35,752 |
| 11 | Korean Library Foundation | 1227 Koloa Street, Honolulu, HI 96816 | HI | 2013-02 | $33,497 |
| 12 | South Sound Book Review Council | 150 E Balmoral Way, Shelton, WA 98584-8597 | WA | 2002-06 | $28,027 |
| 13 | Killbuck Community Library Association Inc | PO BOX 402, Killbuck, OH 44637 | OH | 1997-07 | $22,343 |
| 14 | The Friends Of The Upton Town Library Trust Inc | PO BOX 622, Upton, MA 01568-0622 | MA | 2001-02 | $8,681 |
| 15 | Thousand Palms Library Building Fund | 31189 Robert Road, Thousand Palms, CA 92276 | CA | 1998-08 | $7,966 |
| 16 | 1883 Library Fund Inc | C/O Robert B Sprouse 417 Palm Dr, St Simons Island, GA 31522 | GA | 2005-08 | $0 |
| 17 | Arnold Branch Friends Of The Library | 900 Buckley Rd, St Louis, MO 63125 | MO | 2007-12 | $0 |
| 18 | Book Magic | 2875 Cowley Way 809, San Diego, CA 92110 | CA | 2006-04 | $0 |
| 19 | Chestatee Regional Library Alliance | 342 Allen Street, Dawsonville, GA 30534 | GA | 2003-07 | $0 |
| 20 | Chestatee Regional Library Alliance, Friends Of The Lumpkin Co Library | 342 Courthouse Hl, Dahlonega, GA 30533-0507 | GA | 2004-05 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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