The Korean American Foundation (KAF), a nonprofit organization chaired by Chang Keun Kang, will provide over $500,000 in grants to 27 selected organizations through its 2024 Community Grant Program.

The list of recipient organizations will be announced at a gala event held on Friday, November 22, at noon at the EK Art Gallery, located at 1125 Crenshaw Blvd., Los Angeles. According to KAF, the grants include $44,500 for each of 23 nonprofit organizations and $30,492 for each of 4 organizations, totaling $475,492.

Applications for the grant program were accepted until October 7 from organizations serving the community. Since its inception in 2021, KAF has supported over 30 organizations with more than $1 million in grants.

The grants are distributed through Restricted Funds and Donor Advised Funds (DAF). KAF began its efforts by providing $105,000 to five organizations in 2021, followed by $100,000 for eight organizations and $600,000 through DAF in 2022. In 2023, a total of $355,000 was distributed to 16 organizations from general and DAF funds, bringing the total contribution to $1.16 million.

Notably, KAF announced a $500,000 matching fund grant in November 2023 to the Korean American Special Education Center (KASEC), led by Rosa Chang. The matching fund, supported by a generous DAF donation from Koreatown Plaza’s former owner and KAF Founders Circle member Jungnam Yang, is set to distribute $100,000 annually for the next five years.

Founded in 2018 as the first community foundation in the Korean American community to manage charitable funds with integrity, KAF has raised over $7 million, led by its Founders Circle members, each contributing over $100,000.

Prominent members include Chairman Chang Keun Kang (EdgeMine CEO), Attorney John Lim, Young Seok Kim (3PlusLogic CEO), Brian Kim (Turbo Air CEO), Jinwoo Lee (M3 Asset CEO), Dr. Thomas Han, Brian Jung (Herb City Insurance CEO), Robin Kim (Korean American Scholarship Foundation Director), Young Shin (Senior Center Chairperson), Young Kim (Korean American Federation LA Chairperson), Jungnam Yang (former Koreatown Plaza owner), and David Lee (Jamison Group Chairman), among others, totaling over 50 contributors.

KAF aims to expand its base of $100,000 donors to 100 members and establish a $10 million endowment fund to foster community development and welfare.

Chairman Chang Keun Kang stated, "KAF's goal is to plant a large tree in the community, creating a haven where everyone can rest. Thanks to the generous contributions from Founders Circle members, we are delighted to provide $500,000 in support to nonprofit organizations this year."

For more information, contact Leslie Jung at (213) 792-2301 or email info@KoreanAmericanFoundation.org.



<Sehee Roh>