HAWAII KOREAN CHAMBER OF COMMERCE

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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

1994

Legal Domicile

Principal Officer

GINA K NAKAMURA

Phone

8085233393

Tax Period

2022-01-01 to 2022-12-31

HAWAII KOREAN CHAMBER OF COMMERCE, founded in 1994, is a small nonprofit that reported $224K in total revenue in fiscal year 2022. Revenue surged 454% from the prior year, signaling strong growth momentum.

Mission

TO ENHANCE BUSINESS OPPORTUNITIES FOR OUR MEMBERS BY PROMOTING KOREAN BUSINESS DIVERSITY AND GROWTH, CREATING ECONOMIC VITALITY WITHIN HAWAII AND INTERNATIONALLY.

Program Service Accomplishments

Program 1

Expenses: $208,316 Revenue: $58,400

THE ANNUAL KOREAN FESTIVAL IS ONE OF THE PREMIER CULTURAL EVENTS IN HAWAII, BRINGING TOGETHER A BROAD ARRAY OF LOCAL BUSINESSES, COMMUNITY GROUPS AND INDIVIDUAL VOLUNTEERS FROM THE KOREAN COMMUNITY...

Program 2

Expenses: $6,000

THE HAWAII KOREAN CHAMBER OF COMMERCE IS PLEASED TO OFFER ITS ANNUAL SCHOLARSHIP TO OUTSTANDING STUDENTS WHO ARE ENROLLED OR WILL BE ENROLLING FULL-TIME IN AN ACCREDITED FOUR-YEAR COLLEGE FOR...

THE HAWAII KOREAN CHAMBER OF COMMERCE IS PLEASED TO OFFER ITS ANNUAL SCHOLARSHIP TO OUTSTANDING STUDENTS WHO ARE ENROLLED OR WILL BE ENROLLING FULL-TIME IN AN ACCREDITED FOUR-YEAR COLLEGE FOR UNDERGRADUATE STUDIES. THE SCHOLARSHIP IS AIMED AT CIVIC-MINDED INDIVIDUALS WHO HAVE A COMMITMENT TO SERVE THE NEEDS OF THE IMMEDIATE COMMUNITY AND SOCIETY AT LARGE. THE SCHOLARSHIP CONSISTS OF THREE 2,000 AWARDS. THE RECIPIENTS WILL RECEIVE THEIR AWARDS AT THE ANNUAL KOREAN FESTIVAL. ALL RECIPIENTS OR A REPRESENTATIVE OF THE RECIPIENTS MUST BE PRESENT AT THE KOREAN FESTIVAL TO RECEIVE THE AWARD. QUALIFIED APPLICANTS MUST: BE OF KOREAN ANCESTRY (50% OR MORE) RESIDE IN HAWAII BE A COLLEGE-BOUND, GRADUATING HIGH SCHOOL SENIOR OR A FULL-TIME UNDERGRADUATE STUDENT AT AN ACCREDITED FOUR-YEAR COLLEGE.

Program 3

HKCC HOLDS NUMEROUS FINANCIAL PLANNING SEMINARS EACH YEAR FOR THE KOREAN COMMUNITY THROUGH THE HELP OF ITS DIRECTORS AND MEMBERS, WHO REPRESENT FIRMS SUCH AS MORGAN STANLEY DEAN WITTER, MERRILL...

HKCC HOLDS NUMEROUS FINANCIAL PLANNING SEMINARS EACH YEAR FOR THE KOREAN COMMUNITY THROUGH THE HELP OF ITS DIRECTORS AND MEMBERS, WHO REPRESENT FIRMS SUCH AS MORGAN STANLEY DEAN WITTER, MERRILL LYNCH, AXA, AND EDWARD JONES. HKCC ALSO BENEFITS KOREAN SENIOR CITIZENS WITH SPECIAL SEMINARS, SUCH AS THE AARP SEMINAR ON MEDICARE.

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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 (2022)

Revenue Breakdown

Contributions & Grants $165,575

Program Service Revenue $58,400

Investment Income $93

Other Revenue $0

TOTAL REVENUE $224,068

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $214,316

Other Expenses $219,638

TOTAL EXPENSES $225,638

Year-over-Year Comparison

	2022	2021	Change
Revenue	$224,068	$40,467	+4.5%
Expenses	$225,638	$23,539	+8.6%
Net Income	$-1,570	$16,928	-1.1%

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

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
KAREN CHOE	DIRECTOR	0.50	Director	$0	$0	$0
SHANNON KIM HACKETT	DIRECTOR	0.50	Director	$0	$0	$0
RYAN HAMADON	TREASURER	3.00	Officer Director	$0	$0	$0
DAEJIN KIM	DIRECTOR	0.50	Director	$0	$0	$0
GINA K NAKAMURA	PRESIDENT	5.00	Officer Director	$0	$0	$0
JASON NAM	DIRECTOR	0.50	Director	$0	$0	$0
GRACE OGAWA	SECRETARY	4.00	Officer Director	$0	$0	$0
KYONG WON OH	VICE-PRESIDE	2.31	Officer Director	$0	$0	$0
KIMBERLY PAFUNDI	DIRECTOR	0.50	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
2022	$224,068	$225,638	$113,419	$-1,570