LINCOLNSHIRE KOREAN EVANGELICAL CHURCH OF AMERICA

EIN: 364179877 501(c)(3) Religion

LINCOLNSHIRE, IL

Total Revenue
$544,074
Total Expenses
$260,426
Total Assets
$1,172,583
Net Assets
$842,072
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
IL
Principal Officer
MYUNG HOON GAH
Phone
2247071004
Tax Period
2024-01-01 to 2024-12-31

LINCOLNSHIRE KOREAN EVANGELICAL CHURCH OF AMERICA, founded in 1998, is a small nonprofit in the Religion sector that reported $544K in total revenue in fiscal year 2024. Revenue surged 82% from the prior year, signaling strong growth momentum. The organization ran a surplus of $284K, a strong 52% operating margin.

Mission

PROVIDING WORSHIP SERVICE EVERY FRIDAY AND SUNDAY, SUPPORTING MISSIONARIES AND PROVIDING CARE SERVICE FOR COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $544,074
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $544,074

Expense Breakdown

Grants Paid $35,824
Salaries & Benefits $29,056
Fundraising Expenses $0
Program Expenses $124,975
Other Expenses $195,546
TOTAL EXPENSES $260,426

Year-over-Year Comparison

2024 2023 Change
Revenue $544,074 $298,840 +0.8%
Expenses $260,426 $291,218 -0.1%
Net Income $283,648 $7,622 +36.2%
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

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Governance

Voting Members
1
Independent Members
1
Employees
1
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
0
$0
Total Directors
1
$19,200
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REV MYUNG HOON GAH BOARD PRESIDENT 40.00
Director
$19,200 $0 $19,200
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 $544,074 $260,426 $1,172,583 $283,648
2023 $298,840 $291,218 $898,206 $7,622
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