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Ik-Joong Kang Foundation Inc

EIN 99-3514044 · New York, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak6 out of 100GovernanceNot ratedThe short tax form does not cover thisImpact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It reported loans to or from officers, directors or other insiders.
  • It owes more than it owns.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

THE FOUNDATION'S MISSION IS TO PROMOTE THE CULTURAL UNDERSTANDING AND CULTURAL EXCHANGE THROUGH ARTISTIC ENDEAVORS, WITH A FOCUS ON CREATING BRIDGES BETWEEN THE GLOBAL ARTS COMMUNITY AND THE KOREAN PEOPLE IN SOUTH KOREA AND ABROAD.

Income
$171,505
Spending
$180,269
Reserves
-0.6 months of spending
Largest source of income
donations and private grants, 100%

Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 6 out of 100. Higher than 2% of charities in its peer group (arts and culture, under $250k).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    0 of 20

    It owes 809% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 5% of income.

Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

This organization files the short tax form, which does not ask about boards, policies or audits. That is normal for a small charity and is not a mark against it.

Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $21,500 spent. ARTIST AND DIRECTOR OF THE HANGEUL PROJECT, IK-JOONG KANG, WILL USE 20,000 HANGEUL TILES TO CREATE THE WORLD'S FIRST HANGEUL WALL AT THE KOREAN CULTURAL CENTER IN NEW YORK. AMONG THE 20,000 TILES WILL BE 1,000 PIECES CREATED BY INDIVIDUALS FROM AROUND THE WORLD. INDIVIDUALS HAD UNTIL JUNE 30, 2024, TO SUBMIT THEIR OWN ARTWORKS INSPIRED BY THE THEME "THINGS I LOVE TO TALK ABOUT AND 1,000 OF THE PIECES WILL BE SELECTED THROUGH ONLINE VOTING BY THE PUBLIC AND REVIEW BY IK-JOONG KANG TO BECOME PART OF THE HANGEUL WALL. NOT ONLY DOES THIS INITIATIVE ALLOW PEOPLE FROM AROUND THE WORLD TO CONTRIBUTE TO A HISTORIC PIECE OF ART BUT IT PROVIDES AN EDUCATIONAL OPPORTUNITY FORPARTICIPANTS TO EXPLORE THE HISTORICAL SIGNIFICANCE OF HANGEUL.
  2. $158,739 spent. A PROJCET IN CAIRO, EGYPT TO BE KNOWN AS THE HANGEUL TEMPLE AND WILL BEINSTALLED IN FRONT OF THE PYRAMIDS OF GIZA IN THE FALL OF 2024. THE OUTER WALLS OF THESE PRISMS WILL BEINSCRIBED WITH THE LYRICS OF THE KOREAN FOLK SONG ARIRANG IN HANGEUL, ENGLISH, ARABIC, AND HIEROGLYPHICS. THE INTERIOR WILL BE ADORNED WITH OVER 5,000 MURAL DRAWINGS OF DREAMS CREATED BY CHILDREN FROM AROUND THE WORLD. IK JOONG KANG BELIEVES THAT THE "PYRAMIDS SYMBOLIZE THE PAST, 'ARIRANG' THE PRESENT, AND THE CHILDREN THE FUTURE. THIS WORK EMBODIES THE BELIEF THAT THE WORLD CAN COEXIST PEACEFULLY THROUGH EXCHANGEDESPITE THE DIVISIONS AND CONFLICTS ON EARTH. IT CREATES A CONNECTION BETWEEN THE PAST, PRESENT, AND FUTURE."EMBEDDED WITHIN THE FRAMEWORK OF A NONPROFIT CULTURAL ENDEAVOR, THIS PROJECT ASPIRES NOT ONLY TO AMPLIFYAWARENESS OF KOREA'S RICH CULTURAL HERITAGE BUT ALSO TO FOSTER PROFOUND GLOBAL COMMUNITY ENGAGEMENT.

Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.