KOREAN COMMUNITY SERVICE CENTER (EIN 271518314) - 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

Principal Officer

JOO MI KIM

Phone

4257762400

Tax Period

2023-01-01 to 2023-12-31

KOREAN COMMUNITY SERVICE CENTER, founded in 2009, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $1.3M left a modest 15% surplus.

Mission

THE PURPOSE OF THE KOREAN COMMUNITY SERVICE CENTER IS TO ENHANCE SOCIAL SERVICES FOR THE WELFARE OF KOREAN AMERICAN FAMILIES IN THE STATE OF WASHINGTON AND TO SERVE THE INTERESTS OF THE KOREAN-AMERICAN COMMUNITY BY PROVIDING EDUCATION, COUNSELING , LEGAL AID , AND INFORMATION AND REFERRAL SERVICES.

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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 $1,517,711

Program Service Revenue $0

Investment Income $246

Other Revenue $0

TOTAL REVENUE $1,517,957

Expense Breakdown

Grants Paid $26,634

Salaries & Benefits $709,424

Fundraising Expenses $0

Program Expenses $1,291,791

Other Expenses $555,733

TOTAL EXPENSES $1,291,791

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,517,957	$1,159,084	+0.3%
Expenses	$1,291,791	$1,137,100	+0.1%
Net Income	$226,166	$21,984	+9.3%

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

$120,000

Total Directors

$120,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOO MI KIM	EXECUTIVE DI	40.00	Officer Director	$120,000	$0	$120,000
CHRISTINA LEE	BOARD MEMBER	5.00	Director	$0	$0	$0
MYUNG RAE PARK	BOARD MEMBER	5.00	Director	$0	$0	$0
DOUG SCHULTZ	BOARD MEMBER	5.00	Director	$0	$0	$0
KAY SHIN	BOARD MEMBER	5.00	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	No data	No data	No data	No data
2023	$1,517,957	$1,291,791	$740,700	$226,166
2022	$1,159,084	$1,137,100	$527,474	$21,984
2021	$727,915	$729,465	$512,328	$-1,550
2020	$825,201	$486,266	$559,224	$338,935
2019	$312,640	$319,821	$34,218	$-7,181

KOREAN COMMUNITY SERVICE CENTER