KOREAN LANGUAGE FOUNDATION INC

EIN: 261446135 501(c)(3) Education

NEW YORK, NY

Total Revenue
$348,941
Total Expenses
$264,850
Total Assets
$133,852
Net Assets
$133,852
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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
2007
Legal Domicile
NY
Principal Officer
SUN GUN LEE
Tax Period
2017-07-01 to 2018-06-30

KOREAN LANGUAGE FOUNDATION INC, founded in 2007, is a small nonprofit in the Education sector that reported $349K in total revenue in fiscal year 2017. The organization ran a surplus of $84K, a strong 24% operating margin.

Mission

PROMOTING THE ADOPTION OF KOREAN LANGUAGE AS AN OFFICIAL FOREIGN LANGUAGE IN THE PUBLIC SCHOOLS AND EDUCATIONAL ADVANCEMENT OF KOREAN CULTURE AND LANGUAGE FOR THE STUDENTS IN NATION WIDE.

Program Service Accomplishments

Program 1
Expenses: $4,158

TEACHER LICENSING PROGRAM: TO GET THE KOREAN LANGUAGE TEACHER LICENSES FROM THE COLLEGE COURSE AS REQUESTED BY THE STATE REGULATIONS.

Program 2
Expenses: $175,500

KOREA VISIT PROGRAM: OFFERS OPPORTUNITIES TO VISIT KOREA FOR STUDENTS WHO ARE ENROLLED IN KOREAN LANGUAGE CLASSES IN PUBLIC MIDDLE AND HIGH SCHOOL TO GAIN AN UNDERSTANDING AND AN EXPERIENCE ABOUT...

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KOREA VISIT PROGRAM: OFFERS OPPORTUNITIES TO VISIT KOREA FOR STUDENTS WHO ARE ENROLLED IN KOREAN LANGUAGE CLASSES IN PUBLIC MIDDLE AND HIGH SCHOOL TO GAIN AN UNDERSTANDING AND AN EXPERIENCE ABOUT ANCIENT AND MODERN KOREAN HISTORY, CULTURE, SOCIAL, ECONOMIC DEVELOPMENT OF THE KOREAN SOCIETY, AND KOREAN EDUCATION SYSTEM. PRINCIPALS IN PUBLIC MIDDLE AND HIGH SCHOOL ARE SUBJECTED TO BE SELECTED IF SCHOOLS ARE CURRENTLY HAVING KOREAN LANGUAGE CLASSES OR PLANNING TO HAVE ONE IN THE SCHOOL.

Program 3
Expenses: $38,915

BROOKLYN PROJECT: TO SUPPORT KOREAN LANGUAGE CLASSES ACTIVITIES AT AMERICAN PUBLIC MIDDLE AND HIGH SCHOOLS OF BROOKLYN AREA IN NEW YORK CITY.

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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%)

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Financial Overview (2017)

Revenue Breakdown

Contributions & Grants $348,941
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $348,941

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $26,550
Program Expenses $224,437
Other Expenses $264,850
TOTAL EXPENSES $264,850

Year-over-Year Comparison

2017 2016 Change
Revenue $348,941 N/A N/A
Expenses $264,850 N/A N/A
Net Income $84,091 N/A N/A
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
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
2
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUN GUN LEE PRESIDENT 2.00
Officer
$0 $0 $0
JONG HOON LEE VICE PRESIDE 2.00
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
2018 $348,941 $264,850 $133,852 $84,091
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