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MBK EDUCATIONAL FOUNDATION INC

NEW YORK, NY · EIN 262987483 · Form 990PF · FY2024 · NTEE T20 · Philanthropy & Grantmaking · Large ($10M-$50M)
revenue
$27.0M
expenses
$502
net assets
$302
employees
profile · synthesized from sources

Private foundation based in New York that provides grants to educational and cultural institutions. Primarily funds capital projects, endowments, and programming at colleges, museums, and libraries. Supports initiatives in ethical leadership, modern art, youth education, and scholarship programs for financially needy students in Korea.

named programs · 6 · from sources

What they call their work

Guggenheim Education Programs
Provides annual support for educational initiatives at the Solomon R. Guggenheim Foundation
Kim and Park Study of the Book Program
Supports a new library program at the University of Chicago focused on book studies
MBK Scholarship Program
Supports scholarships for financially needy students in Korea through the MBK Scholarship Foundation
Michael B. Kim Institute for Ethical Inquiry and Leadership
Supports the construction of a new building and endowment at Haverford College for ethical leadership and inquiry
Muhlenberg Library Children and Teen Center
Funds technology, collections, and youth education initiatives including after-school and teen programming at NYPL
New Modern Wing at The Metropolitan Museum of Art
Funds construction, operations, and programming for the modern and contemporary art wing
activities · 7 groups

What they do

  • University-Specific Endowment and Program Funding 2 activities
    • Funding a faculty office in the Science Center at Wellesley College
      Funds a faculty office in the Science Center at Wellesley College.
    • Funding the Study of the Book Program at the University of Chicago Library
      Funds the creation and support of an expendable fund for the Study of the Book Program at the University of Chicago Library.
  • Capital Infrastructure Funding 1 activity
    • Funding construction and endowed support for the Michael B. Kim Institute at Haverford College
      Funds the construction of a new building and an endowed fund for the Michael B. Kim Institute for Ethical Inquiry and Leadership at Haverford College.
  • Private K–12 School Support 1 activity
    • Funding general educational support at Grace Church School
      Provides general educational support to Grace Church School.
  • Art Museum Funding and Support 1 activity
    • Funding modern and contemporary art initiatives at the Metropolitan Museum of Art
      Funds the Metropolitan Museum of Art's plans for modern and contemporary art, including construction and programming for a new or renovated modern wing.
  • Local High School Scholarship Programs 1 activity
    • Funding scholarship programs for financially needy students in Korea
      Funds scholarship-making activities for financially needy students in Korea through the MBK Scholarship Foundation.
  • Literacy Program Funding 1 activity
    • Funding youth educational initiatives and technology upgrades at Muhlenberg Library's Children and Teen Center
      Funds technology upgrades, collections refresh, and youth educational initiatives at the Muhlenberg Library's Children and Teen Center, including NYPL After School and enhanced teen programming.
  • Uncategorized 1 activity
    • Funding Guggenheim education programs
      Funds Guggenheim education programs for the 2023–2024 and 2024–2025 academic years.
financials · form 990PF · fy2024
revenue
Total revenue$26.98M
Contributions & grants$26.98M100%
Program service revenue
Investment income$00%
Other revenue
expenses
Total expenses$502
Program expenses
Admin / overhead
Fundraising
Salaries & benefits$0
Grants paid out$8.62M
balance sheet
Total assets$26.12M
Cash
Investments
Liabilities
Net assets$302
5 years on record · 2020–2024 · YoY revenue +148.3%
leadership · form 990 part vii · fy2024

Who runs it

board members · 1
  • MIMI OKKYUNG KIM — DIRECTOR, PRESIDENT
relationships · 8

Who they work with

  • Grace Church School Partner — Provided general educational support.
  • Haverford College Partner — Funded the construction of a new building and an endowed fund for the Michael B. Kim Institute for Ethical Inquiry and Leadership.
  • MBK SCHOLARSHIP FOUNDATION Partner — Funded scholarship-making activities for financially needy students in Korea.
  • New York Public Library Astor Lenox and Tilden Foundation Partner — Funded technology upgrades, collections refresh, and youth educational initiatives at the Muhlenberg Library's Children and Teen Center.
  • Solomon R Guggenheim Foundation Partner — Funded Guggenheim education programs for the 2023–2024 and 2024–2025 academic years.
  • The Metropolitan Museum of Art Partner — Funded plans for modern and contemporary art, including construction and programming for a new or renovated modern wing.
  • University of Chicago Partner — Funded the creation and support of an expendable fund for the Study of the Book Program at the library.
  • Wellesley College Partner — Funded a faculty office in the Science Center.