KOREAN PERFORMING ARTS INSTITUTE OF CHICAGO

EIN: 463414899 501(c)(3) Arts, Culture & Humanities

CHICAGO, IL

Total Revenue
$483,721
Total Expenses
$467,369
Total Assets
$201,013
Net Assets
$20,013
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
IL
Principal Officer
BYOUNG SUG KIM
Phone
3123750358
Tax Period
2024-01-01 to 2024-12-31

KOREAN PERFORMING ARTS INSTITUTE OF CHICAGO, founded in 2013, is a small nonprofit in the Arts, Culture & Humanities sector that reported $224K in total revenue in fiscal year 2020. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $192K left a modest 14% surplus.

Mission

TO DEVELOP TRADITIONAL KOREAN CULTURAL AND PERFORMING ARTS IN FURTHERANCE OF YOUTH LEADERSHIP, CROSS-CULTURAL UNDERSTANDING, AND COLLABORATION AMONG VARIED COMMUNITIES

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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 $246,837
Program Service Revenue $236,884
Investment Income $0
Other Revenue $0
TOTAL REVENUE $483,721

Expense Breakdown

Grants Paid $2,005
Salaries & Benefits $278,074
Fundraising Expenses $0
Program Expenses $432,641
Other Expenses $187,290
TOTAL EXPENSES $467,369

Year-over-Year Comparison

2024 2023 Change
Revenue $483,721 $476,278 +0.0%
Expenses $467,369 $474,589 0.0%
Net Income $16,352 $1,689 +8.7%
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

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Governance

Voting Members
7
Independent Members
7
Employees
7
Volunteers
9

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
3
$0
Total Directors
15
$150,375
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANE PARK PRESIDENT 5.00
Officer Director
$0 $0 $0
YOUNG SEOK LEE SECRETARY 3.00
Officer Director
$0 $0 $0
JAE HA TREASURER 3.00
Officer Director
$0 $0 $0
ELIZABETH YI DIRECTOR 3.00
Director
$0 $0 $0
JINHWA SUH DIRECTOR 3.00
Director
$0 $0 $0
KI SEOK KIM DIRECTOR 3.00
Director
$0 $0 $0
JI-YEON YUH DIRECTOR 3.00
Director
$0 $0 $0
BYOUNG SUG KIM EDUCATION DIRECTOR 25.00
Director
$0 $0 $0
DEOKHWAN KIM EDUCATION DIRECTOR 40.00
Director
$36,375 $0 $36,375
SUWAN CHOI EDUCATION DIRECTOR 35.00
Director
$22,000 $0 $22,000
CHANSOO LEE EDUCATION DIRECTOR 40.00
Director
$24,000 $0 $24,000
YUN SIL JANG EDUCATION DIRECTOR 20.00
Director
$16,000 $0 $16,000
HYUNCHAE KIM EDUCATION DIRECTOR 35.00
Director
$22,000 $0 $22,000
CHEONGRA HA EDUCATION DIRECTOR 15.00
Director
$10,000 $0 $10,000
HOJIN CHOI EDUCATION DIRECTOR 30.00
Director
$20,000 $0 $20,000
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
2025 No data No data No data No data
2024 $483,721 $467,369 $201,013 $16,352
2023 $476,278 $474,589 $184,661 $1,689
2022 $391,689 $391,671 $179,873 $18
2021 $345,155 $308,861 $218,356 $36,294
2020 $224,367 $192,209 $182,060 $32,158
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