FEDERAL WAY KOREAN AMERICAN ASSOCIATION (EIN 264454681) - 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

2009

Legal Domicile

Phone

2535952426

Tax Period

2023-01-01 to 2023-12-31

FEDERAL WAY KOREAN AMERICAN ASSOCIATION, founded in 2009, is a micro nonprofit in the Public & Societal Benefit sector that reported $88K in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $27K, a strong 30% operating margin.

Mission

TO SEEK THE DEVELOPMENT OF THE KOREAN COMMUNITIES OF FEDERAL WAY AND ITS NEIGHBORING AREAS, TO DEVELOP KOREAN AMERICAN CULTURE AND HELP ARTICULATE THE SHARED VALUES OF KOREAN AMERICANS AS A COMMUNITY, AND TO PROMOTE COOPERATION AND BETTER UNDERSTANDING BETWEEN THE KOREAN AMERICAN COMMUNITY AND OTHER RACIAL/ETHNIC GROUPS IN THE U.S., INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $88,013

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $88,013

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $38,021

Other Expenses $61,471

TOTAL EXPENSES $61,471

Year-over-Year Comparison

	2023	2022	Change
Revenue	$88,013	$203,067	-0.6%
Expenses	$61,471	$92,358	-0.3%
Net Income	$26,542	$110,709	-0.8%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HYONSOOK CHO	TREASURER	N/A	Officer	$0	$0	$0
HAENG SOOK KIM	PRESIDENT	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	No data	No data	No data	No data
2023	$88,013	$61,471	$214,247	$26,542
2022	$203,067	$92,358	$201,298	$110,709
2019	$270,799	$205,715	$355,717	$65,084
2018	$255,368	$179,966	$285,862	$75,402

FEDERAL WAY KOREAN AMERICAN ASSOCIATION