KOREA MUSIC FOUNDATION INC

EIN: 133255396 501(c)(3) Arts, Culture & Humanities

Nyack, NY

Total Revenue
$132,970
Total Expenses
$89,294
Total Assets
$52,761
Net Assets
$52,761
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
NY
Principal Officer
KYUNG HEE KIM
Tax Period
2023-01-01 to 2023-12-31

KOREA MUSIC FOUNDATION INC, founded in 1984, is a small nonprofit in the Arts, Culture & Humanities sector that reported $133K in total revenue in fiscal year 2023. Revenue surged 1573% from the prior year, signaling strong growth momentum. The organization ran a surplus of $44K, a strong 33% operating margin.

Mission

TO STIMULATE PUBLIC INTEREST IN GOOD MUSIC, TO OFFER AN OPPORTUNITY TO THOSE INTERESTED IN MUSIC TO PERFORM MUSICAL COMPOSITIONS OF MERIT

Program Service Accomplishments

Program 1
Expenses: $89,294

CHARITABLE ACTIVIES GIVING OPPORTUNITIES TO PERFORMERS TO GIVE PERFORMANCES AND MUSIC ASWARENESS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $132,970
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $132,970

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,600
Fundraising Expenses $0
Program Expenses $89,294
Other Expenses $85,694
TOTAL EXPENSES $89,294

Year-over-Year Comparison

2023 2022 Change
Revenue $132,970 $7,947 +15.7%
Expenses $89,294 $1,337 +65.8%
Net Income $43,676 $6,610 +5.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$3,600
Total Directors
4
$3,600
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KYUNG HEE KIM PRESIDENT 3.000
Officer Director
$3,000 $0 $3,000
TAEJA KIM DIRECTOR N/A
Officer Director
$0 $0 $0
SUNG HEE CHO KO TREASURER N/A
Officer Director
$0 $0 $0
SUNG AH JUNG SECRETARY N/A
Officer Director
$600 $0 $600
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $132,970 $89,294 $52,761 $43,676
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