Korean Service Center (EIN 411678348) - Form 990 Financial Analysis & Trantor Score

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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

1990

Legal Domicile

Principal Officer

Kwangja Kwon

Phone

6123421344

Tax Period

2024-01-01 to 2024-12-31

Korean Service Center, founded in 1990, is a community nonprofit in the Human Services sector that reported $2.3M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $614K, a strong 27% operating margin.

Mission

The Korean Service Center is dedicated to provide needed resources and services to vulnerable Koreans and other immigrant-Americans while striving to promote their rich cultural heritage for all international people.

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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 $700,500

Program Service Revenue $1,538,368

Investment Income $66,901

Other Revenue $3,400

TOTAL REVENUE $2,309,169

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,365,132

Fundraising Expenses $0

Program Expenses $1,302,938

Other Expenses $330,092

TOTAL EXPENSES $1,695,224

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,309,169	$2,066,189	+0.1%
Expenses	$1,695,224	$1,584,853	+0.1%
Net Income	$613,945	$481,336	+0.3%

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

100

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

$96,811

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dennis K Kim	Chairman	1.00	Officer Director	$0	$0	$0
Jihee Woo	Treasurer	1.00	Officer Director	$0	$0	$0
Sangyeoul Jung	Board Member	1.00	Director	$0	$0	$0
Kay Yang-Cha	Board Member	1.00	Director	$0	$0	$0
Hyun Kim	Board Member	1.00	Director	$0	$0	$0
Jungyong Park	Board Member	1.00	Director	$0	$0	$0
Hyunwon Shin	Board Member	1.00	Director	$0	$0	$0
Sungjoo Hong	Board Member	1.00	Director	$0	$0	$0
Hee Yun Lee	Board Member	1.00	Director	$0	$0	$0
Sang Won Song	Board Member	1.00	Director	$0	$0	$0
Sooyoung Nou	Board Member	1.00	Director	$0	$0	$0
Kwangja Kwon	Executive Director	40.00	Officer	$96,123	$688	$96,811

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	$2,309,169	$1,695,224	$3,098,385	$613,945
2023	$2,066,189	$1,584,853	$2,486,787	$481,336
2022	$2,098,454	$1,491,404	$2,123,363	$607,050
2021	$1,929,526	$1,403,384	$1,540,078	$526,142
2020	$1,861,860	$1,423,769	$1,082,179	$438,091
2019	$1,455,369	$1,394,787	$478,047	$60,582
2018	$1,472,783	$1,434,973	$425,954	$37,810

Korean Service Center