Korean American Association of Greater Philadelphia

EIN: 510325643 501(c)(3) Human Services

Elkins Park, PA

Total Revenue
$89,564
Total Expenses
$46,560
Total Assets
$299,084
Net Assets
$299,084
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
PA
Principal Officer
Kevin Kim
Phone
2154505128
Tax Period
2024-01-01 to 2024-12-31

Korean American Association of Greater Philadelphia, founded in 1990, is a micro nonprofit in the Human Services sector that reported $90K in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $43K, a strong 48% operating margin.

Program Service Accomplishments

Program 1
Expenses: $20,321 Revenue: $-936

The assocition offers scholarship to the Korean-American Community group.

Program 2
Expenses: $22,030 Revenue: $260

The association sponsors various events to promote mutual friendship among Koreans and presents Korean culture to the community,

Program 3
Expenses: $940 Revenue: $-940

The association outreaches to the entire community offering contribution, free legal advise services and consular services.

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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 $89,564
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $89,564

Expense Breakdown

Grants Paid $22,970
Salaries & Benefits $6,000
Fundraising Expenses $0
Program Expenses $43,291
Other Expenses $17,590
TOTAL EXPENSES $46,560

Year-over-Year Comparison

2024 2023 Change
Revenue $89,564 $68,948 +0.3%
Expenses $46,560 N/A N/A
Net Income $43,004 $68,948 -0.4%
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

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Governance

Voting Members
15
Independent Members
15
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
1
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
James Kim President 0.00
Officer Director
$0 $0 $0
Kyong Yi Chairperson 0.00
Director
$0 $0 $0
Namsoo Cho Senior VP 0.00
Director
$0 $0 $0
Soo Jin Han VP & Treasurer 0.00
Director
$0 $0 $0
John Lee VP 0.00
Director
$0 $0 $0
Christina Haahs Secretary general 0.00
Director
$0 $0 $0
Albert Kim Auditor 0.00
Director
$0 $0 $0
Solomon Kim Director 0.00
Director
$0 $0 $0
Min Jung Director 0.00
Director
$0 $0 $0
Susan Noh Director 0.00
Director
$0 $0 $0
Michael Choe Director 0.00
Director
$0 $0 $0
Marcia Kwagh Director 0.00
Director
$0 $0 $0
Thomas Ryu Director 0.00
Director
$0 $0 $0
Sung Ho Park Director 0.00
Director
$0 $0 $0
Steven Kim Director 0.00
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 $89,564 $46,560 $299,084 $43,004
2023 $68,948 $70,745 $316,080 $-1,797
2022 $132,394 $131,389 $323,692 $1,005
2021 $110,732 $136,113 $313,726 $-25,381
2020 $134,527 $119,321 $339,107 $15,206
2019 $108,539 $116,478 $323,901 $-7,939
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