KOREAN AMERICAN SOCIETY OF CPAS INC (EIN 202319012) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

MICHAEL CHOI

Phone

4693879412

Tax Period

2024-01-01 to 2024-12-31

KOREAN AMERICAN SOCIETY OF CPAS INC, founded in 1996, is a small nonprofit in the Community Improvement sector that reported $240K in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $226K left a modest 6% surplus.

Mission

TO ORGANIZE THE ANNUAL CONFERENCE FOR ALL CHAPTER MEMBERS ACROSS THE US. THE MAIN MISSION OF THIS ASSOCIATION IS TO HELP ACCOUNTANTS IMPROVE THEIR PROFESSIONALISM AND INCRESE DIVERSITY THROUGH EDUCATION, INFORMATION, AND EXCHANGES WITH MEMBERS AND RELATED PROFESSIONALS REQUIRED

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $239,757

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $239,757

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $218,410

Other Expenses $225,518

TOTAL EXPENSES $225,518

Year-over-Year Comparison

	2024	2023	Change
Revenue	$239,757	$283,485	-0.2%
Expenses	$225,518	$275,767	-0.2%
Net Income	$14,239	$7,718	+0.8%

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

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CHOI	PRESIDENT	2.00	Officer Director	$0	$0	$0
MYUNGSUN JANG	TREASURER	2.00	Officer Director	$0	$0	$0
STEVE PAK	SECRETARY	2.00	Officer Director	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$239,757	$225,518	$22,205	$14,239
2023	$283,485	$275,767	$7,966	$7,718

KOREAN AMERICAN SOCIETY OF CPAS INC