Lifecare Foundation Inc
Lifecare Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, 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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$56.4M
+20.6% YoY
Annual Giving
$2.1M
+44.4% YoY
Grant Count
8
-11.1% YoY
Avg Grant Size
$262K
+62.5% YoY
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.
About Lifecare Foundation Inc
Based on IRS filings
Lifecare Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, 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.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $56,372,205 | $46,756,402 | $37,214,645 |
| Revenue | $12,257,581 | $11,529,392 | $10,554,487 |
| Expenses | $2,650,778 | $1,987,635 | $2,203,279 |
| Qualifying Distributions | $2,095,681 | $1,451,624 | $1,623,967 |
| Net Investment Income | $1,912,315 | $1,195,259 | $204,437 |
| Distributable Amount | $2,713,560 | $2,180,574 | $1,537,114 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
44 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Fidelity Charitable ($1,050,000), Vanguard Charitable Fund ($1,000,000), Princeton Korean Church ($20,000).
| Recipient | Purpose | Amount |
|---|---|---|
| FIDELITY CHARITABLE CINCINNATI, OH | KANG FAMILY CHARITABLE FUND | $1,050,000 |
| KOREAN AMERICAN INSTITUTE OF PRINCETON PRINCETON, NJ | GENERAL | $10,000 |
| VANGUARD CHARITABLE FUND BOSTON, MA | THE KANG FAMILY CHARITABLE FUND | $1,000,000 |
| Syngman Rhee Memorial Foundation PLYMOUTH MEETING, PA | GENERAL SUPPORT | $3,000 |
| Michael Kim Monmouth Jct, NJ | scholarship | $5,000 |
| Princeton Korean Church Princeton, NJ | General SUPPORT | $20,000 |
| PENN MEDICINE PHILADELPHIA, PA | GENERAL | $2,000 |
| Jeremy Choi MONMOUTH JUNCTION, NJ | Scholarship PAID TO KAREN DON | $2,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JEMO KANG | DIRECTOR | 0.5 | — |
| MONICA KANG | DIRECTOR | 0.5 | — |
| WALTER KANG | DIRECTOR | 0.5 | — |
| ROGER KANG | DIRECTOR | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Lifecare Foundation Inc?
Lifecare Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MONMOUTH JUNCTION, NJ. It holds $56.4M in total assets as of 2024.
How large is Lifecare Foundation Inc?
As of 2024, Lifecare Foundation Inc holds $56.4M in total assets with $12.3M in annual revenue. It awarded 8 grants totaling $2.1M in 2024.
Where does Lifecare Foundation Inc operate?
Lifecare Foundation Inc has awarded grants in Arizona, Massachusetts, New Jersey, Ohio, Pennsylvania, Texas, Virginia.
What size grants does Lifecare Foundation Inc award?
In 2024, Lifecare Foundation Inc awarded 8 grants totaling $2.1M — an average of about $262K per grant, based on its IRS Form 990 filings.
How much is Lifecare Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Lifecare Foundation Inc reported a distributable amount of $2.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Lifecare Foundation Inc's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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