KOREAN AMERICAN COMMUNITY OF ANCHO… - Form 990 Financial Data

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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

Legal Domicile

Principal Officer

ANDREW H KWON

Phone

9075615345

Tax Period

2023-01-01 to 2023-12-31

KOREAN AMERICAN COMMUNITY OF ANCHORAGE is a small nonprofit in the Arts, Culture & Humanities sector that reported $287K in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $257K left a modest 11% surplus.

Mission

THE PROTECTION OF RIGHTS AND INTERESTS OF ITS MEMBERS, THEIR SOCIAL HARMONY, ITS CONSTRUCTIVE EVOLUTION, AND CULTURAL INTERCHANGE AND FRIENDSHIP ENHANCEMENT BETWEEN THE USA AND KOREA IN ALASKA.

Program Service Accomplishments

Program 1

Expenses: $107,316 Revenue: $63,000

EDUCATIONAL AND CULTURAL PROGRAMS: ORGANIZED VARIOUS COMMUNITY EVENTS EDUCATION ON KOREAN CULTURE BETWEEN KOREA AND ALASKA.

Program 2

Expenses: $22,598 Revenue: $19,000

SCHOLARSHIP PROGRAM: PROVIDED SCHOLARSHIPS TO GRADUATING HIGH SCHOOL STUDENTS IN ANCHORAGE, ALASKA.

Program 3

Expenses: $7,872 Revenue: $4,000

CIVIC ENGAGEMENT AND PROMOTING VOTE

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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 $234,009

Program Service Revenue $0

Investment Income $0

Other Revenue $53,267

TOTAL REVENUE $287,276

Expense Breakdown

Grants Paid $37,591

Salaries & Benefits $27,968

Fundraising Expenses $0

Program Expenses $137,786

Other Expenses $191,399

TOTAL EXPENSES $256,958

Year-over-Year Comparison

	2023	2022	Change
Revenue	$287,276	$209,738	+0.4%
Expenses	$256,958	$149,639	+0.7%
Net Income	$30,318	$60,099	-0.5%

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
ANDREW KWON	PRESIDENT	30.00	Officer Director	$0	$0	$0
JENNY PARK	SECRETARY	10.00	Officer Director	$0	$0	$0
JONG HA SONG	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
HOJIN PARK	TREASURER	5.000	Officer Director	$0	$0	$0
CHONG PARK	DIRECTOR	2.000	Director	$0	$0	$0
CHRISTINE CHOI	DIRECTOR	2.000	Director	$0	$0	$0
EUGENE CHO	DIRECTOR	10.00	Director	$0	$0	$0
YOUNG KIM	DIRECTOR	5.000	Director	$0	$0	$0
SEUNGHYUN OH	DIRECTOR	1.000	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	$287,276	$256,958	$136,699	$30,318
2022	$209,738	$149,639	$106,168	$60,099
2021	$214,532	$140,758	$160,115	$73,774
2020	$202,473	$127,228	$86,341	$75,245
2019	$214,648	$248,902	$14,335	$-34,254
2018	$254,557	$242,124	$39,293	$12,433

KOREAN AMERICAN COMMUNITY OF ANCHORAGE