FRIENDS OF GRACE SENIORS INC DBA K… - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

MYOUNGMI KIM

Phone

2125411200

Tax Period

2025-01-01 to 2025-02-28

FRIENDS OF GRACE SENIORS INC DBA KOREAN COMMUNITY CENTER, founded in 2000, is a micro nonprofit in the Human Services sector that reported $91K in total revenue in fiscal year 2025. Revenue fell 90% from the prior year — a significant decline worth monitoring. Expenses of $138K exceeded revenue, resulting in a 52% operating deficit.

Mission

To promote healthy and independent living for all ages and to integrate the people with Korean Heritage into the greater community through culture and education, outreach, health and social services,and civic advocacy.

Program Service Accomplishments

Program 1

Expenses: $113,007 Revenue: $40,850

Provided educational, cultural, and physical wellness programs through classes at the center. Assisted parents and children/youth promoting pride in themselves through seminar, counseling and other activities. Qualified instructors were recruited, and professional services were provided.

Program 2

Provided senior care service through care management program, information, assistance, and benefit screening. Provided preventive health services including community health disparity prevention...

Provided senior care service through care management program, information, assistance, and benefit screening. Provided preventive health services including community health disparity prevention program, aging and disability resource centers care management program, health screening, health education, and immunization services. Advertised programs in the web and newspaper to induce public to join the programs. Performed art contest to create opportunities for the children, middle and high school students of KCC family members to receive recognition, encourage personal growth and confidence, offer professional development, meet and network with young professionals, etc.

Program 3

Secure building space for the program services.

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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 (2025)

Revenue Breakdown

Contributions & Grants $48,796

Program Service Revenue $40,850

Investment Income $8

Other Revenue $966

TOTAL REVENUE $90,620

Expense Breakdown

Grants Paid $0

Salaries & Benefits $53,093

Fundraising Expenses $13,047

Program Expenses $113,007

Other Expenses $85,038

TOTAL EXPENSES $138,131

Year-over-Year Comparison

	2025	2024	Change
Revenue	$90,620	$877,829	-0.9%
Expenses	$138,131	$1,474,834	-0.9%
Net Income	$-47,511	$-597,005	-0.9%

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

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

$25,326

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KYUNGMUN NAM	CEO	40.00	Officer	$6,385	$0	$6,385
JUNGHYE AHN	Dir Health&Soc	40.00	Officer	$5,321	$0	$5,321
SEUNGHEE KANG	Dir Oper&Comm	40.00	Officer	$5,214	$0	$5,214
IL KYUNG SONG	Creative Dir.	40.00	Officer	$4,256	$0	$4,256
YOUNG DECK LEE	Care Manager	40.00	Officer	$4,150	$0	$4,150
KEVIN SHIM	Secretary	1.00	Officer Director	$0	$0	$0
CONNIE CHOI	Trustee	1.00	Director	$0	$0	$0
JASON CHON	Trustee	1.00	Director	$0	$0	$0
DAVID LEE	Trustee	1.00	Director	$0	$0	$0
MYOUNGMI KIM	President & CEO	40.00	Officer	$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	$90,620	$138,131	No data	$-47,511
2024	No data	No data	No data	No data
2023	$785,789	$1,518,434	$5,970,025	$-732,645
2022	$509,229	$1,086,387	$6,829,799	$-577,158
2021	$792,004	$897,633	$5,596,974	$-105,629
2021	$819,464	$882,249	$5,639,811	$-62,785
2020	$696,845	$943,252	$5,847,880	$-246,407
2019	$1,184,043	$1,065,404	$5,852,662	$118,639
2018	$933,549	$944,603	$5,995,492	$-11,054

FRIENDS OF GRACE SENIORS INC DBA KOREAN COMMUNITY CENTER