Mbk Educational Foundation Inc

NEW YORK, NY EIN: 26-2987483

Mbk Educational Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW YORK, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $26.1M in total assets. In 2024, it awarded 7 grants totaling $8.6M.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$26.1M

+237.0% YoY

Annual Giving

$8.6M

+136.9% YoY

Grant Count

+16.7% YoY

Avg Grant Size

$1.2M

+103.0% YoY

Under IRS private-foundation payout rules, Mbk Educational Foundation Inc reported a distributable amount of $140 for 2024 — the minimum it must pay out in qualifying distributions.

About Mbk Educational Foundation Inc

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

New York $6.3M (55%)

Pennsylvania $4.7M (40%)

Illinois $458K (4%)

Massachusetts $85K (1%)

States

Illinois Massachusetts New York Pennsylvania

Cities

BostonChicagoHaverfordNew YorkWellesley

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$26,116,969	$7,750,404	$530,437
Revenue	$26,982,900	$10,864,800	$1,962,000
Expenses	$26,983,002	$10,869,833	$1,957,151
Qualifying Distributions	$8,616,335	$3,640,333	$1,457,151
Net Investment Income	—	—	—
Distributable Amount	$140	$25	$130

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 7 recipients in 2024

Grant Size Distribution

24 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Haverford College ($4,600,000), The Metropolitan Museum of Art ($2,550,000), Mbk Scholarship Foundation ($800,000).

Recipient	Purpose	Amount
GRACE CHURCH SCHOOL NEW YORK, NY	GENERAL EDUCATIONAL SUPPORT	$7,500
MBK SCHOLARSHIP FOUNDATION	TO SUPPORT MBK SCHOLARSHIP FOUNDATION'S SCHOLARSHIP MAKING ACTIVITIES TO FINANCIALLY NEEDY STUDENTS IN KOREA.	$800,000
NEW YORK PUBLIC LIBRARY ASTOR LENNOX AND TILDEN FDN NEW YORK, NY	TO SUPPORT NEW TECHNOLOGY, COLLECTIONS, AND OVERALL REFRESH OF THE MUHLENBERG LIBRARY'S CHILDREN AND TEEN CENTER, AS WELL AS SUPPORT YOUTH EDUCATIONAL INITIATIVES, INCLUDING NYPL AFTER SCHOOL AND ENHANCED TEEN PROGRAMMING.	$250,000
SOLOMAN R GUGGENHEIM FOUNDATION NEW YORK, NY	TO SUPPORT OF GUGGENHEIM EDUCATION PROGRAMS 2024-25	$50,000
THE METROPOLITAN MUSEUM OF ART NEW YORK, NY	TO SUPPORT THE MUSEUM'S PLANS IN THE AREA OF MODERN AND CONTEMPORARY ART SPECIFICALLY FOR THE COSTS ASSOCIATED WITH THE CONSTRUCTION, MAINTENANCE, OPERATIONS, PROGRAMMING, OR OTHER NEEDS OF A NEW OR RENOVATED MODERN WING (THE "NEW MODERN WING"), AND OTHER ACTIVITIES UNDERTAKEN WITH THE GOAL OF KEEPING THE MUSEUM AT THE FOREFRONT OF PRESENTING MODERN AND CONTEMPORARY ART TO THE PUBLIC, AT THE MUSEUM'S SOLE DISCRETION.	$2,550,000
HAVERFORD COLLEGE HAVERFORD, PA	TO SUPPORT THE CONSTRUCTION OF A NEW BUILDING FOR THE ETHICAL INQUIRY AND LEADERSHIP INSTITUTE TO BE NAMED THE MICHAEL B. KIM INSTITUTE FOR ETHICAL INQUIRY AND LEADERSHIP (HEREINAFTER, "SPACE") AND ESTABLISHING THE MICHAEL B. KIM INSTITUTE FOR ETHICAL INQUIRY AND LEADERSHIP ENDOWED FUND (HEREINAFTER, "FUND") IN SUPPORT OF THE OPERATION AND ACTIVITIES OF THE MICHAEL B. KIM INSTITUTE FOR ETHICAL INQUIRY AND LEADERSHIP (THE "INSTITUTE").	$4,600,000
UNIVERSITY OF CHICAGO CHICAGO, IL	THE GIFT SHALL BE EXPENDABLE AND SHALL BE USED TO CREATE AND SUPPORT AN EXPENDABLE FUND TO BE KNOWN AS THE KIM AND PARK STUDY OF THE BOOK PROGRAM FUND THE ASSETS OF THE PROGRAM FUND SHALL BE USED TO SUPPORT THE LIBRARY'S NEW STUDY OF THE BOOK PROGRAM.	$358,333

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
MIMI OKKYUNG KIM	DIRECTOR, PRESIDENT	10	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Mbk Educational Foundation Inc?

Mbk Educational Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in NEW YORK, NY. It holds $26.1M in total assets as of 2024.

How large is Mbk Educational Foundation Inc?

As of 2024, Mbk Educational Foundation Inc holds $26.1M in total assets with $27.0M in annual revenue. It awarded 7 grants totaling $8.6M in 2024.

Where does Mbk Educational Foundation Inc operate?

Mbk Educational Foundation Inc has awarded grants in Illinois, Massachusetts, New York, Pennsylvania.

What size grants does Mbk Educational Foundation Inc award?

In 2024, Mbk Educational Foundation Inc awarded 7 grants totaling $8.6M — an average of about $1.2M per grant, based on its IRS Form 990 filings.

How much is Mbk Educational Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Mbk Educational Foundation Inc reported a distributable amount of $140 on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Mbk Educational Foundation Inc's EIN?

Mbk Educational Foundation Inc's EIN (Employer Identification Number) is 26-2987483. IRS Form 990 filing data is available on this page for 2020–2024.