Southern Korean Presbyterian Church Inc

EIN: 562263050 501(c)(3)

Charlotte, NC

Total Revenue
$2,407,527
Total Expenses
$468,269
Total Assets
$2,250,563
Net Assets
$2,245,229
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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
2001
Legal Domicile
NC
Phone
8034159791
Tax Period
2023-01-01 to 2023-12-31

Southern Korean Presbyterian Church Inc, founded in 2001, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2023. Revenue surged 324% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 81% operating margin.

Mission

Evangelizing Christianity

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,407,527
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $2,407,527

Expense Breakdown

Grants Paid $0
Salaries & Benefits $138,474
Fundraising Expenses $0
Program Expenses $0
Other Expenses $329,795
TOTAL EXPENSES $468,269

Year-over-Year Comparison

2023 2022 Change
Revenue $2,407,527 $568,424 +3.2%
Expenses $468,269 $445,451 +0.1%
Net Income $1,939,258 $122,973 +14.8%
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
9
Independent Members
9
Employees
3
Volunteers
20

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
$40,000
Total Directors
0
$0
Key Employees
2
$35,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Sungsup Song Sr. Pastor 40.00
Officer
$40,000 $0 $40,000
Sung Sil Kim Choir Director 20.00
Key Emp
$8,000 $0 $8,000
Youngjoo Moon Pastor 30.00
Key Emp
$27,000 $0 $27,000
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
2023 $2,407,527 $468,269 $2,250,563 $1,939,258
2022 $568,424 $445,451 $2,175,357 $122,973
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