﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" returnVersion="2024v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-03-06T19:35:05-05:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>464497825</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Kaon Accountancy Corp</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>3580 Wilshire Blvd 1460</AddressLine1Txt>
        <CityNm>Los Angeles</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>90010</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>301086635</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE AJ FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <InCareOfNm>% Jay Cho</InCareOfNm>
      <BusinessNameControlTxt>AJFO</BusinessNameControlTxt>
      <PhoneNum>5626501134</PhoneNum>
      <USAddress>
        <AddressLine1Txt>14849 Northam St</AddressLine1Txt>
        <CityNm>La Mirada</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>90638</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JAY CHO</PersonNm>
      <PersonTitleTxt>Trustee</PersonTitleTxt>
      <PhoneNum>5626501134</PhoneNum>
      <SignatureDt>2025-03-06</SignatureDt>
      <DiscussWithPaidPreparerInd>false</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>SIJOONG YUN</PreparerPersonNm>
      <PTIN>P00995263</PTIN>
      <PhoneNum>4087020055</PhoneNum>
      <PreparationDt>2025-03-06</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="5">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2006174</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>35000</ContriRcvdRevAndExpnssAmt>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <TotalRevAndExpnssAmt>35000</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>0</TotalNetInvstIncmAmt>
        <OthEmplSlrsWgsRevAndExpnssAmt>74000</OthEmplSlrsWgsRevAndExpnssAmt>
        <OthEmplSlrsWgsDsbrsChrtblAmt>74000</OthEmplSlrsWgsDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="STM108">2625</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesChrtblPrpsAmt>2625</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="STM110">5922</TaxesRevAndExpnssAmt>
        <TaxesDsbrsChrtblAmt>5922</TaxesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>82547</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>0</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>82547</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>7000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>7000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>89547</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>0</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>89547</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-54547</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>64111</CashBOYAmt>
        <CashEOYAmt>13116</CashEOYAmt>
        <CashEOYFMVAmt>13116</CashEOYFMVAmt>
        <PrepaidExpensesBOYAmt>3551</PrepaidExpensesBOYAmt>
        <OtherInvestmentsBOYAmt>1706430</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="STM118">1993058</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>1993058</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>1774092</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2006174</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2006174</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>1774092</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>2006174</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1774092</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2006174</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1774092</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2006174</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1774092</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-54547</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="STM115">286629</OtherIncreasesAmt>
        <SubtotalAmt>2006174</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>2006174</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>0</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>0</TaxBasedOnInvestmentIncomeAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>false</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>true</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>false</ComplyWithPublicInspRqrInd>
        <IndividualWithBooksNm>Jay Cho</IndividualWithBooksNm>
        <PhoneNum>5626501134</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>14849 Northam St</AddressLine1Txt>
          <CityNm>La Mirada</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>90638</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Jay Cho</PersonNm>
          <USAddress>
            <AddressLine1Txt>14849 Northam St</AddressLine1Txt>
            <CityNm>La Mirada</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90638</ZIPCd>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>Education</Description1Txt>
        <Expenses1Amt>7000</Expenses1Amt>
        <TotalAmt>7000</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1849743</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>38613</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1888356</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1888356</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>28325</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1860031</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>93002</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>93002</MinimumInvestmentReturnAmt>
        <DistributableBeforeAdjAmt>93002</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>93002</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>93002</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>89547</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>7000</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>96547</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>93002</DistributableAsAdjustedAmt>
        <QualifyingDistributionsAmt>96547</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>93002</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>3545</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>3545</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>3545</ExcessDistriCyovToNextYrAmt>
        <ExcessFromCurrentYearAmt>3545</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>Gaoping Mu</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>na</AddressLine1Txt>
            <CityNm>La Puente</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91746</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>I</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Education</GrantOrContributionPurposeTxt>
          <Amt>7000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>7000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="STM108">
      <AccountingFeesDetail>
        <CategoryTxt>Accounting</CategoryTxt>
        <Amt>2625</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2625</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsOtherSchedule2 documentId="STM118">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Equitable Structured Capital</CategoryOrItemTxt>
        <BookValueAmt>1993058</BookValueAmt>
        <EOYFMVAmt>1993058</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherIncreasesSchedule documentId="STM115">
      <OtherIncreasesDetail>
        <Desc>Comprehense FMV</Desc>
        <Amt>286629</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <TaxesSchedule documentId="STM110">
      <TaxesDetail>
        <CategoryTxt>Payroll taxes</CategoryTxt>
        <Amt>5922</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5922</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>