Korean American Center (EIN 475175147) - 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

2015

Legal Domicile

Principal Officer

Tammy Kim

Phone

9495353355

Tax Period

2024-01-01 to 2024-12-31

Korean American Center, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $506K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $564K exceeded revenue, resulting in a 11% operating deficit.

Mission

DEDICATED TO BUILDING CONNECTIONS BETWEEN INTERGENERATIONAL KOREAN-AMERICANS AND THE GREATER COMMUNITY BY PROMOTING OPPORTUNITIES FOR APPRECIATION OF KOREA'S RICH CULTURAL HERITAGE. WE AIM TO INTEGRATE OTHERS OF VARIOUS BACKGROUNDS THAT HAVE A COMMON INTEREST IN KOREA AND ITS CULTURE.

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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 $245,364

Program Service Revenue $261,134

Investment Income $0

Other Revenue $0

TOTAL REVENUE $506,498

Expense Breakdown

Grants Paid $0

Salaries & Benefits $129,068

Fundraising Expenses $0

Program Expenses $564,022

Other Expenses $434,954

TOTAL EXPENSES $564,022

Year-over-Year Comparison

	2024	2023	Change
Revenue	$506,498	$644,024	-0.2%
Expenses	$564,022	$552,526	+0.0%
Net Income	$-57,524	$91,498	-1.6%

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

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

$67,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tammy Kim	CEO	40.00	Officer	$67,500	$0	$67,500
Christian Shin	CFO	5.00	Officer	$0	$0	$0
Julee Sung	Secretary	5.00	Officer	$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	$506,498	$564,022	$233,573	$-57,524
2023	$644,024	$552,526	$91,576	$91,498

Korean American Center