M and L Hong Foundation is a private foundation focused on Human Services, based in PENNINGTON, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $54.6M in total assets. In 2024, it awarded 2 grants totaling $750K. Net investment income was $2.8M.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$54.6M
+3.4% YoY
Annual Giving
$750K
Grant Count
2
Avg Grant Size
$375K
Under IRS private-foundation payout rules, M and L Hong Foundation reported a distributable amount of $2.9M for 2024 — the minimum it must pay out in qualifying distributions.
About M and L Hong Foundation
Based on IRS filings
M and L Hong Foundation is a private foundation focused on Human Services, based in PENNINGTON, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $54.6M in total assets. In 2024, it awarded 2 grants totaling $750K. Net investment income was $2.8M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $54,570,103 | $52,764,865 | $867,826 |
| Revenue | $2,952,869 | $52,021,815 | $575,630 |
| Expenses | $1,147,844 | $119,853 | $69,953 |
| Qualifying Distributions | $965,384 | $91,906 | $66,497 |
| Net Investment Income | $2,782,913 | $458,143 | $16,715 |
| Distributable Amount | $2,929,205 | $407,576 | $37,371 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2024
Grant Size Distribution
4 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Southeastern California Conference ($500,000), Loma Linda Korean Church ($250,000).
| Recipient | Purpose | Amount |
|---|---|---|
| LOMA LINDA KOREAN CHURCH REDLANDS, CA | GENERAL OPERATING | $250,000 |
| SOUTHEASTERN CALIFORNIA CONFERENCE RIVERSIDE, CA | GENERAL OPERATING | $500,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BANK OF AMERICA N A | TRUSTEE | 2 | $357,833 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is M and L Hong Foundation?
M and L Hong Foundation is a private foundation focused on Human Services, based in PENNINGTON, NJ. It holds $54.6M in total assets as of 2024.
How large is M and L Hong Foundation?
As of 2024, M and L Hong Foundation holds $54.6M in total assets with $3.0M in annual revenue. It awarded 2 grants totaling $750K in 2024.
Where does M and L Hong Foundation operate?
M and L Hong Foundation has awarded grants in California.
What size grants does M and L Hong Foundation award?
In 2024, M and L Hong Foundation awarded 2 grants totaling $750K — an average of about $375K per grant, based on its IRS Form 990 filings.
How much is M and L Hong Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, M and L Hong Foundation reported a distributable amount of $2.9M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is M and L Hong Foundation's EIN?
M and L Hong Foundation's EIN (Employer Identification Number) is 83-6345283. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.