Lifecare Foundation Inc
Lifecare Foundation Inc is a private foundation, based in Monmouth Junction, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $56.4M in total assets. In 2024, it awarded 8 grants totaling $2.1M. Net investment income was $1.9M.
Lifecare Foundation Inc at a glance
In short: Lifecare Foundation Inc gave $2.1M across 8 grants in 2024 (avg $262K), mostly in Ohio. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $2,092,000
- +44.4% vs 2023
- Grants made (2024)
- 8
- -11.1% vs 2023
- Average grant
- $261,500
- +62.5% vs 2023
- Median grant
- $7,500
- Total assets
- $56,372,205
- +20.6% vs 2023
- Primary geography
- Ohio (50% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Lifecare Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
The largest 2024 recipient was Fidelity Charitable ($1.1M). Together the top 7 received $2.1M.
Organizations only. It also paid 1 individual scholarship ($2,000), which are not listed by name.
Grant Size Distribution
44 grants across all recorded years
The most common grant size was under $50K: 34 grants of 44 (77%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 8 itemized grants.
Cities
How Lifecare Foundation Inc gives
- Giving grew 84% from 2021 to 2024. Method
- In 2024 it paid out 77% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $803K (2020) to $2.1M (2024). In 2024 it made 8 grants totaling $2.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Fidelity Charitable Cincinnati, OH | Kang Family Charitable Fund | $1,050,000 |
| Vanguard Charitable Fund Boston, MA | The Kang Family Charitable Fund | $1,000,000 |
| Princeton Korean Church Princeton, NJ | General SUPPORT | $20,000 |
| Korean American Institute of Princeton Princeton, NJ | General | $10,000 |
| Michael Kim Monmouth Jct, NJ | scholarship | $5,000 |
| Syngman Rhee Memorial Foundation Plymouth Meeting, PA | General Support | $3,000 |
| Penn Medicine Philadelphia, PA | General | $2,000 |
| 1 individual scholarship Recipients not named | — | $2,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $56,372,205 | $12,257,581 | $2,650,778 | $2,092,000 | 8 | $2,095,681 | $1,912,315 | $2,713,560 |
| 2023 | $46,756,402 | $11,529,392 | $1,987,635 | $1,448,531 | 9 | $1,451,624 | $1,195,259 | $2,180,574 |
| 2022 | $37,214,645 | $10,554,487 | $2,203,279 | $1,621,000 | 7 | $1,623,967 | $204,437 | $1,537,114 |
| 2021 | $28,863,437 | $2,351,034 | $1,566,349 | $1,137,000 | 10 | $1,139,893 | $20,578 | $1,461,439 |
| 2020 | $28,078,751 | $8,402,782 | $1,304,215 | $803,000 | 10 | — | $67,180 | $1,128,043 |
Under IRS private-foundation payout rules, Lifecare Foundation Inc reported a distributable amount of $2.7M for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Lifecare Foundation Inc's 2024 filing lists 4 officers; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Jemo Kang
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Monica Kang
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Roger Kang
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Walter Kang
Director
On filings since 2020
0.5 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Lifecare Foundation Inc
How much does Lifecare Foundation Inc give each year?
Lifecare Foundation Inc gave $2.1M across 8 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.4M across 9 grants.
What is Lifecare Foundation Inc's typical grant size?
Lifecare Foundation Inc's median grant in 2024 was $7,500, and its average grant was $261,500, across 8 grants on its 2024 IRS Form 990-PF.
Where does Lifecare Foundation Inc give grants?
Lifecare Foundation Inc gives mostly in Ohio: 50% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Massachusetts (48%). The most frequent recipient cities were Princeton, NJ (2 grants).
Does Lifecare Foundation Inc give general operating support?
Yes: 50% of Lifecare Foundation Inc's 2024 grants with a stated purpose (4 of 8) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Lifecare Foundation Inc's largest grantees?
Lifecare Foundation Inc's largest 2024 grantees include Fidelity Charitable ($1,050,000), Vanguard Charitable Fund ($1,000,000) and Princeton Korean Church ($20,000), according to its 2024 IRS Form 990-PF. It also paid 1 individual scholarship ($2,000), which are not listed by name. Together they received 99% of its itemized 2024 grant dollars.
How large is Lifecare Foundation Inc?
Lifecare Foundation Inc reported $56.4M in total assets on its 2024 IRS Form 990-PF. It paid out $2.1M in qualifying distributions that year, against a required minimum of $2.7M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Lifecare Foundation Inc's EIN?
Lifecare Foundation Inc's EIN (Employer Identification Number) is 22-3625576. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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