THE KOREAN AMERICAN SCHOLARSHIP FOUNDATION

EIN: 237151484 501(c)(3)

TYSONS CORNER, VA

Total Revenue
$1,551,363
Total Expenses
$1,086,945
Total Assets
$6,710,527
Net Assets
$6,710,527
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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
DC
Phone
7037485935
Tax Period
2024-01-01 to 2024-12-31

THE KOREAN AMERICAN SCHOLARSHIP FOU, founded in 1969, is a small nonprofit that reported $968K in total revenue in fiscal year 2018. Revenue decreased 15% compared to the prior year. The organization ran a surplus of $278K, a strong 29% operating margin.

Mission

ORGANIZATION'S MISSION: THE PRIMARY PURPOSES OF THE ORGANIZATION ARE: 1) TO ASSIST FINANCIALLY NEEDY KOREAN AMERICAN STUDENTS IN PURSUIT OF ACADEMIC AND PERSONAL ACHIEVEMENT, 2) TO ENCOURAGE COMMUNITY AND CIVIC SERVICES AS AN INTERGRAL PART OF LEADERSHIP DEVELOPMENT, AND 3) TO NURTURE A SENSE OF PRIDE AND CONFIDENCE IN KOREAN CULTURE AND HERITAGE.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,218,369
Program Service Revenue $0
Investment Income $225,318
Other Revenue $107,676
TOTAL REVENUE $1,551,363

Expense Breakdown

Grants Paid $856,500
Salaries & Benefits $92,400
Fundraising Expenses $0
Program Expenses $906,746
Other Expenses $138,045
TOTAL EXPENSES $1,086,945

Year-over-Year Comparison

2024 2023 Change
Revenue $1,551,363 $724,706 +1.1%
Expenses $1,086,945 $1,090,432 0.0%
Net Income $464,418 $-365,726 -2.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
25
Independent Members
25
Employees
N/A
Volunteers
140

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
5
$92,400
Total Directors
25
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HYE WON CHO Executive Dir. 40.00
Officer
$92,400 $0 $92,400
JAY LEE CHAIRPERSON 2.00
Officer Director
$0 $0 $0
CHRISTINE KIM NERC TREASURER 2.00
Director
$0 $0 $0
ALEX LEE Secretary 2.00
Officer Director
$0 $0 $0
HYUN J NAM Treasurer 3.00
Officer Director
$0 $0 $0
HENRY CHOI Vice Chairman 2.00
Officer Director
$0 $0 $0
JANE LEE-KWON MWRC PRESIDENT 2.00
Director
$0 $0 $0
SUNGSU JOHN KANG Chairman 2.00
Director
$0 $0 $0
TOMAS RITTER MWRC Treasurer 2.00
Director
$0 $0 $0
SANG NAM LEE Chairman 2.00
Director
$0 $0 $0
ROBYN BRINKERHOFF CHAIRWOMAN 2.00
Director
$0 $0 $0
ERIC CHOI WRC PRESIDENT 2.00
Director
$0 $0 $0
YOUNG JIN LEE SRC TREASURER 2.00
Director
$0 $0 $0
HYUN JOO LEE NERC PRESIDENT 2.00
Director
$0 $0 $0
PHILIP YUN MSRC PRESIDENT 2.00
Director
$0 $0 $0
SANG JOSHUA KIM Chairman 3.00
Director
$0 $0 $0
FRANK LEE Chairman 3.00
Director
$0 $0 $0
GINA HUH CHAIRWOMAN 2.00
Director
$0 $0 $0
GIMIN KIM Chairman 2.00
Director
$0 $0 $0
SUZANNE KIM DOUD GALLI ERC PRESIDENT 2.00
Director
$0 $0 $0
MICHAEL KANG ERC TREASURER 2.00
Director
$0 $0 $0
MIKYONG HAHM SRC PRESIDENT 2.00
Director
$0 $0 $0
WONHO LEE SWRC PRESIDENT 2.00
Director
$0 $0 $0
JIHEE LEE SWRC TREASURER 2.00
Director
$0 $0 $0
IN-KYUNG CHUNG MSRC TREASURER 2.00
Director
$0 $0 $0
GLORIA LEE WRC TREASURER 2.00
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
2024 $1,551,363 $1,086,945 $6,710,527 $464,418
2023 $724,706 $1,090,432 $5,889,198 $-365,726
2022 $1,380,392 $953,923 $5,572,870 $426,469
2021 $1,135,969 $760,511 $6,210,929 $375,458
2020 $844,070 $782,973 $5,433,223 $61,097
2019 $1,185,463 $828,136 $5,020,878 $357,327
2018 $968,283 $690,777 $4,068,216 $277,506
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