FEDERATION OF KOREAN AMERICAN ASSOCIATIONS (EIN 562264965) - 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

2002

Legal Domicile

Principal Officer

SUNG WON KANG

Tax Period

2023-07-01 to 2024-06-30

FEDERATION OF KOREAN AMERICAN ASSOCIATIONS, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $146K in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $181K exceeded revenue, resulting in a 24% operating deficit.

Mission

THE ORGANIZATION SERVES KOREAN AMERICANS IN THE U.S., ADVOCATING FOR THEIR RIGHTS AND PROMOTING POSITIVE RELATIONS WITH OTHER ETHNIC GROUPS IN U.S.

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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 (2023)

Revenue Breakdown

Contributions & Grants $146,073

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $146,073

Expense Breakdown

Grants Paid $27,135

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $180,606

Other Expenses $153,471

TOTAL EXPENSES $180,606

Year-over-Year Comparison

	2023	2022	Change
Revenue	$146,073	$267,475	-0.5%
Expenses	$180,606	$236,650	-0.2%
Net Income	$-34,533	$30,825	-2.1%

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

N/A

Employees

N/A

Volunteers

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
INSU BATES	VICE-CHAIRMAN	3.00	Director	$0	$0	$0
DAE KEE YUN	CHAIRMAN OF THE BOARD	3.00	Director	$0	$0	$0
KEVIN RHEE	POLICY VICE-PRESIDENT	5.00	Officer	$0	$0	$0
SUNG WON KANG	GENERAL SECRETARY	5.00	Officer	$0	$0	$0
HYUN KIM	TREASURER	5.00	Officer	$0	$0	$0
HUI KYONG LEE	VICE-PRESIDENT	5.00	Officer	$0	$0	$0
JOHN SUH	SENIOR VICE-PRESIDENT	5.00	Officer	$0	$0	$0
DOO SOO KIM	SENIOR VICE-PRESIDENT	5.00	Officer	$0	$0	$0
NAOMI ROGERS	WOMEN SENIOR VICE-PRESIDENT	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
2025	No data	No data	No data	No data
2024	$146,073	$180,606	$9,472	$-34,533
2024	No data	No data	No data	No data
2023	$267,475	$236,650	$38,243	$30,825
2021	$18,459	$20,388	$9,032	$-1,929
2020	$118,170	$134,480	$10,961	$-16,310
2019	$182,685	$314,215	$27,271	$-131,530
2018	$236,231	$235,911	$8,801	$320

FEDERATION OF KOREAN AMERICAN ASSOCIATIONS