THE KOREAN AMERICAN ASSOCIATION OF GREATER NEW YORK INC (EIN 237329822) - 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

1972

Legal Domicile

Principal Officer

MYUNGSUK LEE

Phone

2122556969

Tax Period

2024-05-01 to 2025-04-30

THE KOREAN AMERICAN ASSOCIATION OF GREATER NEW YORK INC, founded in 1972, is a small nonprofit that reported $602K in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum.

Mission

HELPING SOUTH KOREAN IMMIGRANTS TO SETTLE DOWN IN THE GREATER NEW YORK AREA AS KOREAN-AMERICAN CITIZENS AND PROMOTE ACTIVITIES FOR UNITY AND HEALTHY SOCIAL RELATIONSHIPS.

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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 $672,883

Program Service Revenue $29,000

Investment Income $0

Other Revenue $-99,832

TOTAL REVENUE $602,051

Expense Breakdown

Grants Paid $0

Salaries & Benefits $70,928

Fundraising Expenses $9,753

Program Expenses $503,615

Other Expenses $569,444

TOTAL EXPENSES $640,372

Year-over-Year Comparison

	2024	2023	Change
Revenue	$602,051	$438,647	+0.4%
Expenses	$640,372	$447,734	+0.4%
Net Income	$-38,321	$-9,087	+3.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KWANG S KIM	PRESIDENT	40.00	Officer	$0	$0	$0
KANGWON LEE	DIRECTOR	10.00	Director	$0	$0	$0
WONCHUL CHOI	DIRECTOR	10.00	Director	$0	$0	$0
HEESOO LEE	DIRECTOR	10.00	Director	$0	$0	$0
JAEBONG RYU	DIRECTOR	10.00	Director	$0	$0	$0
YONGCHUL KIM	DIRECTOR	10.00	Director	$0	$0	$0
WONHOON CHO	DIRECTOR	0.00	Director	$0	$0	$0
GEUMSOO HWANG	DIRECTOR	0.00	Director	$0	$0	$0
EUNKYUNG KIM	DIRECTOR	0.00	Director	$0	$0	$0
TAEKYU PARK	DIRECTOR	0.00	Director	$0	$0	$0
WONHO KANG	DIRECTOR	0.00	Director	$0	$0	$0
SUNGWON PARK	DIRECTOR	0.00	Director	$0	$0	$0
KWANGSOO BAE	DIRECTOR	0.00	Director	$0	$0	$0
DONGHYUN CHO	DIRECTOR	0.00	Director	$0	$0	$0
JINSU KIM	DIRECTOR	0.00	Director	$0	$0	$0
MYUNGHA CHO	DIRECTOR	0.00	Director	$0	$0	$0
DONGCHEON SEO	DIRECTOR	0.00	Director	$0	$0	$0
MONICA PARK	DIRECTOR	0.00	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
2025	$602,051	$640,372	$582,100	$-38,321
2024	$438,647	$447,421	$620,027	$-8,774
2024	$438,647	$447,734	$620,027	$-9,087
2023	$469,352	$673,949	$760,569	$-204,597
2022	$873,620	$950,881	$1,049,161	$-77,261
2021	$2,022,836	$1,721,765	$1,206,734	$301,071
2021	$2,022,816	$1,721,765	$1,206,734	$301,051
2021	$2,022,816	$1,721,765	$1,206,734	$301,051
2020	$477,732	$397,688	$1,320,369	$80,044
2019	$420,559	$442,818	$1,303,117	$-22,259
2018	$587,295	$633,259	$1,044,348	$-45,964
2018	$674,956	$375,519	$1,381,749	$299,437

THE KOREAN AMERICAN ASSOCIATION OF GREATER NEW YORK INC