Korean Community Senior Housing Co… - Form 990 Financial Data

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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

1987

Legal Domicile

Principal Officer

PETER W RIM

Phone

3014455540

Tax Period

2024-01-01 to 2024-12-31

Korean Community Senior Housing Corporation of Maryland, founded in 1987, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2024.

Mission

TO PROVIDE ADEQUATE AND AFFORDABLE HOUSING TO MEET THE PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS OF ELDERLY AND HANDICAPPED INDIVIDUALS

Program Service Accomplishments

Program 1

Expenses: $1,624,121

PROVIDING ADEQUATE HOUSING FOR THE ELDERLY AND PERSONS WITH MOBILITY, HEARING AND VISUAL IMPAIRMENTS BY OFFERING 91 RENTAL UNITS TO ELIGIBLE INDIVIDUALS.

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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 $0

Program Service Revenue $1,552,385

Investment Income $299

Other Revenue $32,299

TOTAL REVENUE $1,584,983

Expense Breakdown

Grants Paid $0

Salaries & Benefits $308,227

Fundraising Expenses $0

Program Expenses $1,624,121

Other Expenses $1,421,903

TOTAL EXPENSES $1,730,130

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,584,983	$1,480,064	+0.1%
Expenses	$1,730,130	$1,616,409	+0.1%
Net Income	$-145,147	$-136,345	+0.1%

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

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
AMY PARK	Secretary	1.00	Officer Director	$0	$0	$0
TIMOTHY HYON	Director	1.00	Director	$0	$0	$0
SUE KANG	Treasurer	1.00	Officer Director	$0	$0	$0
ELIZABETH SANGHEE KIM	Director	1.00	Director	$0	$0	$0
STEPHEN YUNG	Director	1.00	Director	$0	$0	$0
GINA KIM AHN	Vice President	1.00	Officer Director	$0	$0	$0
TONY CHOE	Director	1.00	Director	$0	$0	$0
HAROLD PYON	Director	1.00	Director	$0	$0	$0
PHILLIP S CHO	Director	1.00	Director	$0	$0	$0
DAVID LEE	Director	1.00	Director	$0	$0	$0
PETER W RIM	President	1.00	Officer Director	$0	$0	$0
SU JIN YON	Director	1.00	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	$1,584,983	$1,730,130	$11,025,134	$-145,147
2023	$1,480,064	$1,616,409	$11,325,448	$-136,345
2022	$1,163,787	$1,670,039	$12,670,451	$-506,252
2021	$1,037,155	$1,044,113	$2,480,149	$-6,958
2020	$1,045,990	$1,009,475	$2,549,020	$36,515
2019	$1,051,248	$954,200	$2,565,012	$97,048
2018	$1,014,556	$983,855	$2,538,159	$30,701

Korean Community Senior Housing Corporation of Maryland