THE HANA CENTER

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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

1972

Legal Domicile

Principal Officer

DANAE KOVAC

Phone

7735835501

Tax Period

2024-07-01 to 2025-06-30

THE HANA CENTER, founded in 1972, is a community nonprofit in the Human Services sector that reported $5.3M in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.2M, a strong 23% operating margin.

Mission

THE MISSION OF HANA CENTER IS TO BUILD THE POWER OF KOREAN, ASIAN AMERICAN, AND MULTIETHNIC IMMIGRANT COMMUNITIES IN CHICAGOLAND THROUGH SOCIAL SERVICES, EDUCATION, CULTURE, AND COMMUNITY ORGANIZING TO ADVANCE HUMAN RIGHTS.

Program Service Accomplishments

Program 1

Expenses: $2,227,072 Revenue: $304,445

SOCIAL SERVICES:HANA CENTER'S SOCIAL SERVICE PROGRAMS SUPPORT IMMIGRANT COMMUNITY MEMBERS THROUGH LINGUISTICALLY AND CULTURALLY COMPETENT RESOURCES AND SERVICES TO MEET IMMEDIATE NEEDS AND ACCESS...

SOCIAL SERVICES:HANA CENTER'S SOCIAL SERVICE PROGRAMS SUPPORT IMMIGRANT COMMUNITY MEMBERS THROUGH LINGUISTICALLY AND CULTURALLY COMPETENT RESOURCES AND SERVICES TO MEET IMMEDIATE NEEDS AND ACCESS CRITICAL PROTECTIONS. PROGRAMS INCLUDE IMMIGRATION & LEGAL SERVICES, HOUSING SERVICES, CRISIS INTERVENTION & COMMUNITY WELLNESS, SENIOR SERVICES & PUBLIC BENEFITS.

Program 2

Expenses: $604,419

ORGANIZING & YOUTH EMPOWERMENTHANA CENTER'S ORGANIZING AND YOUTH EMPOWERMENT PROGRAMS MOBILIZE KOREAN, ASIAN AMERICAN, AND MULTIETHNIC IMMIGRANT COMMUNITIES THROUGH EDUCATION, LEADERSHIP DEVELOPMENT, AND COLLECTIVE ACTION TO ADVANCE IMMIGRANT JUSTICE. PROGRAMS INCLUDE COMMUNITY ORGANIZING, YOUTH EMPOWERMENT, CIVIC ENGAGEMENT, AND CULTURAL ARTS.

Program 3

Expenses: $635,456

COMMUNITY ENGAGEMENTHANA CENTER'S COMMUNITY ENGAGEMENT PROGRAMS PROVIDE OPPORTUNITIES FOR SKILL DEVELOPMENT, COMMUNITY BUILDING, AND TRAINING. PROGRAMS INCLUDE COMMUNITY EDUCATION & WORKFORCE...

COMMUNITY ENGAGEMENTHANA CENTER'S COMMUNITY ENGAGEMENT PROGRAMS PROVIDE OPPORTUNITIES FOR SKILL DEVELOPMENT, COMMUNITY BUILDING, AND TRAINING. PROGRAMS INCLUDE COMMUNITY EDUCATION & WORKFORCE EMPOWERMENT, COMMUNITY NAVIGATORS, AND ILLINOIS WELCOMING CENTER.

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,793,407

Program Service Revenue $269,801

Investment Income $240,627

Other Revenue $22,068

TOTAL REVENUE $5,325,903

Expense Breakdown

Grants Paid $131,705

Salaries & Benefits $2,809,505

Fundraising Expenses $178,343

Program Expenses $3,659,197

Other Expenses $1,155,297

TOTAL EXPENSES $4,096,507

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,325,903	$7,424,345	-0.3%
Expenses	$4,096,507	$3,889,564	+0.1%
Net Income	$1,229,396	$3,534,781	-0.7%

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

160

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

$222,012

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS KIM	PRESIDENT	2.00	Officer Director	$0	$0	$0
NANCY BASON	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
HYEONDO LUKE HWANG	SECRETARY	2.00	Officer Director	$0	$0	$0
JANET MARTINEZ	TREASURER	2.00	Officer Director	$0	$0	$0
KATHERINE DEL ROSARIO	DIRECTOR	2.00	Director	$0	$0	$0
JAYE HOBART	DIRECTOR	2.00	Director	$0	$0	$0
GRACE HONG DUFFIN	DIRECTOR	2.00	Director	$0	$0	$0
YOUNGJU JI	DIRECTOR	2.00	Director	$0	$0	$0
HYON KO	DIRECTOR	2.00	Director	$0	$0	$0
BECKY BELCORE	DIRECTOR	2.00	Director	$0	$0	$0
INHE CHOI	EXECUTIVE DIRECTOR	40.00	Officer	$108,740	$4,194	$112,934
DANAE KOVAC	EXECUTIVE DIRECTOR	40.00	Officer	$95,674	$13,404	$109,078

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
2025	$5,325,903	$4,096,507	$11,742,690	$1,229,396
2024	$7,424,345	$3,889,564	$10,462,159	$3,534,781
2023	$4,410,756	$3,155,328	$6,933,367	$1,255,428
2022	$4,918,270	$2,719,047	$5,725,046	$2,199,223
2021	$4,875,296	$3,918,865	$4,273,409	$956,431