FOR IMMEDIATE RELEASE:
Monday, July 8, 2024

New York, NY – The Korean American Community Foundation (KACF) is thrilled to announce that we have received a one-time, unrestricted grant of $5 million from philanthropist MacKenzie Scott. For more than 22 years, KACF has been at the forefront of mobilizing Korean Americans to drive positive change in their communities through philanthropy.

“This transformative gift is a powerful affirmation of trust in our track record and vision. With it, we will accelerate the next chapter of our growth as a national foundation, doing more for our most vulnerable neighbors and bridging connections between Korean Americans across the country and generations to ignite an even greater philanthropic movement by and for our community.”

Kyung B. Yoon, President & CEO of KACF

KACF’s journey began in 2002 with a small group of Korean Americans who wanted to give back to their community, raising $60,000 from friends and family to provide its first grants to five underfunded nonprofits serving the most vulnerable Korean Americans in the New York metropolitan area. This past year, the Foundation distributed $1.8 million in grants to 35 organizations across the country that are addressing issues of economic insecurity. Since its inception, KACF has invested $14 million in the community by fostering a culture of giving that has brought together thousands of Korean American donors.

The grant from MacKenzie Scott will help seed KACF’s vision to be a foundation working on a national scale to increase the funding pie for Korean American-led and -focused nonprofits, strengthen the philanthropic impact of Korean Americans, and fill critical data gaps by commissioning research such as its recent national study on Korean older adults.

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CONTACT:
Monica Lee, Communications Officer
monica@kacfny.org