KOREAN AMERICAN CULTURAL CENTER OF… - 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

Formation Year

1965

Legal Domicile

Principal Officer

HYUNJU SISKOSKY

Phone

2487999760

Tax Period

2023-01-01 to 2023-12-31

KOREAN AMERICAN CULTURAL CENTER OF MICHIGAN, founded in 1965, is a small nonprofit in the Arts, Culture & Humanities sector that reported $276K in total revenue in fiscal year 2023. Revenue surged 68% from the prior year, signaling strong growth momentum. The organization ran a surplus of $214K, a strong 78% operating margin.

Mission

TO PROVIDE THE MICHIGAN KOREAN COMMUNITY WITH A VARIETY OF kOREAN CULTURAL ACTIVITIES, CULTURAL EXCHANGE EVENTS, HEALTH PROMOTING PROGRAMS, EDUCATION AND COUNSELING SERVICES ARE DESIGNED TO PROMOTE QUALITY OF LIFE AND MUTUAL UNDERSTANDING OF CULTURAL DIFFERENCES WITH OUR NON-KOREAN AMERICAN NEIGHBORS.

Program Service Accomplishments

Program 1

VARIETY OF LECTURE PROGRAMS

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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 $18,000

Program Service Revenue $7,260

Investment Income $0

Other Revenue $250,747

TOTAL REVENUE $276,007

Expense Breakdown

Grants Paid $3,150

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $58,627

TOTAL EXPENSES $61,777

Year-over-Year Comparison

	2023	2022	Change
Revenue	$276,007	$164,279	+0.7%
Expenses	$61,777	$52,843	+0.2%
Net Income	$214,230	$111,436	+0.9%

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

N/A

Employees

N/A

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
CHANGSOO CHOI MD	Board Member	001.00	Director	$0	$0	$0
BYUNGJOON KIM	Board Member, Chairman of the Board	005.00	Director	$0	$0	$0
DAEHO KIM	Board Member, Committee Secretary Director	010.00	Director	$0	$0	$0
DOSYNGYOON MD	Board Member	001.00	Director	$0	$0	$0
GYUCHEON HWANG	Board Member, Board Secretary	005.00	Director	$0	$0	$0
GYUNHO SUH	Board Member	001.00	Director	$0	$0	$0
HYUNJU SISKOSKY	Board Member, Treasurer	010.00	Officer Director	$0	$0	$0
JURI JUNG	Board Member, Director of Art Performance	010.00	Officer Director	$0	$0	$0
MI DONG	Board Member, Executive Director	010.00	Officer Director	$0	$0	$0
SOONJA KIM	Board Member, Board Vice Chair Woman	001.00	Director	$0	$0	$0
WONMIN BRUCE PARK	Board Member	005.00	Director	$0	$0	$0
YOUNGHO KIM MD	Board Member	001.00	Director	$0	$0	$0
BUWON KIM	Board Member	001.00	Director	$0	$0	$0
BYUNGSOO LEE	Board Member	001.00	Director	$0	$0	$0
YOUNGIL LEE	Board Member	001.00	Director	$0	$0	$0
BORA YUN	Director of Communication	010.00	Officer Director	$0	$0	$0
DAEWON KIM	Director of Visual Cultural Experience	010.00	Officer Director	$0	$0	$0
HELEN LEFEVRE	Director of Community Planning Organization	010.00	Officer 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	$276,007	$61,777	$879,681	$214,230
2022	$164,279	$52,843	$715,883	$111,436
2021	$50,743	$51,380	$613,482	$-637
2020	$56,625	$53,014	$622,739	$3,611

KOREAN AMERICAN CULTURAL CENTER OF MICHIGAN