KOREAN-AMERICAN SOCIETY OF CT INC (EIN 510201369) - 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

1981

Legal Domicile

Principal Officer

KYUNG SEO PARK

Phone

2032572424

Tax Period

2024-01-01 to 2024-12-31

KOREAN-AMERICAN SOCIETY OF CT INC, founded in 1981, is a micro nonprofit in the Human Services sector that reported $66K in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $41K, a strong 62% operating margin.

Mission

HELPING SOUTH KOREAN IMMIGRANTS TO SETTLE DOWN IN THE STATE OF CONNECTICUT AS KOREAN-AMERICAN CITIZENS AND PROMOTING ACTIVITIES FOR UNITY AND HEALTHY SOCIAL RELATIONSHIP AS SUCH.

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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 $59,271

Program Service Revenue $7,100

Investment Income $0

Other Revenue $0

TOTAL REVENUE $66,371

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $21,395

Other Expenses $24,959

TOTAL EXPENSES $24,959

Year-over-Year Comparison

	2024	2023	Change
Revenue	$66,371	$91,920	-0.3%
Expenses	$24,959	$63,994	-0.6%
Net Income	$41,412	$27,926	+0.5%

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

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
KYUNG SEO PARK	PRESIDENT	20.00	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	$66,371	$24,959	$734,288	$41,412
2023	$91,920	$63,994	$692,876	$27,926
2022	$34,451	$52,126	$664,950	$-17,675
2021	$117,100	$72,843	$682,625	$44,257
2020	$29,527	$27,382	$638,368	$2,145
2019	$28,323	$30,214	$636,223	$-1,891
2018	$86,736	$53,498	$638,114	$33,238

KOREAN-AMERICAN SOCIETY OF CT INC