KOREAN BAPTIST CHURCH OF SCHAUMBURG

EIN: 364374916 501(c)(3)

SCHAUMBURG, IL

Total Revenue
$305,758
Total Expenses
$252,347
Total Assets
$164,618
Net Assets
$164,618
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
IL
Principal Officer
KWANGSOP KIM
Phone
8478430855
Tax Period
2021-01-01 to 2021-12-31

KOREAN BAPTIST CHURCH OF SCHAUMBURG, founded in 1982, is a small nonprofit that reported $306K in total revenue in fiscal year 2021. The organization ran a surplus of $53K, a strong 17% operating margin.

Mission

ESTABLISHED TO SERVE AS A COMMUNITY OF WOWRSHIP AND FELLOWSHIP BY MATURING BELIEVERS TO PERFORM WORKS OF MINISTRY, BY SPREADING OUT PENTECOSTAL HOLY SPIRIT MOVEMENT TO ALL NATIONS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $305,758
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $305,758

Expense Breakdown

Grants Paid $24,000
Salaries & Benefits $25,836
Fundraising Expenses $0
Program Expenses $24,000
Other Expenses $202,511
TOTAL EXPENSES $252,347

Year-over-Year Comparison

2021 2020 Change
Revenue $305,758 N/A N/A
Expenses $252,347 N/A N/A
Net Income $53,411 N/A N/A
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
N/A
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
$24,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KWANGSOP KIM NIOR PASTOR 50.00
Director
$24,000 $0 $24,000
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
2021 $305,758 $252,347 $164,618 $53,411
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