KOREAN-AMERICAN ASSOCIATION OF NEW JERSEY (EIN 223782785) - 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

2000

Legal Domicile

Principal Officer

ADRIAN E LEE

Phone

2019459456

Tax Period

2024-01-01 to 2024-12-31

KOREAN-AMERICAN ASSOCIATION OF NEW JERSEY, founded in 2000, is a small nonprofit in the Arts, Culture & Humanities sector that reported $306K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $362K exceeded revenue, resulting in a 18% operating deficit.

Mission

TO ENHANCE KOREAN-AMERICAN RIGHTS AND TO DO CHARITABLE & FRATERNAL ACTIVITIES IN THE STATE OF NEW JERSEY.

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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 $161,387

Program Service Revenue $144,560

Investment Income $0

Other Revenue $0

TOTAL REVENUE $305,947

Expense Breakdown

Grants Paid $11,169

Salaries & Benefits $46,461

Fundraising Expenses $0

Program Expenses $174,446

Other Expenses $304,207

TOTAL EXPENSES $361,837

Year-over-Year Comparison

	2024	2023	Change
Revenue	$305,947	$262,305	+0.2%
Expenses	$361,837	$254,648	+0.4%
Net Income	$-55,890	$7,657	-8.3%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADRIAN E LEE	PRESIDENT	N/A	Officer	$0	$0	$0
DANIEL D KIM	VICE PRESIDE	N/A	Officer	$0	$0	$0
EUNJOO KANG	VICE PRESIDE	N/A	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
2024	$305,947	$361,837	$15,914	$-55,890
2023	$262,305	$254,648	$30,313	$7,657
2022	$165,218	$178,690	$22,656	$-13,472
2021	$209,265	$179,859	$64,772	$29,406
2020	$88,250	$107,875	$46,066	$-19,625
2019	$296,209	$265,630	$65,691	$30,579
2018	$303,225	$282,592	$35,112	$20,633

KOREAN-AMERICAN ASSOCIATION OF NEW JERSEY