KOREAN SOCIETY OF DALLAS

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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

1988

Legal Domicile

Principal Officer

SUNGHAN KIM

Phone

9722414524

Tax Period

2024-01-01 to 2024-12-31

KOREAN SOCIETY OF DALLAS, founded in 1988, is a small nonprofit in the Arts, Culture & Humanities sector that reported $172K in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring.

Mission

EDUCATE AND SERVE KOREAN AMERICAN COMMUNITY IN DALLAS TEXAS AREA.

Program Service Accomplishments

Program 1

Expenses: $24,321

KOREAN SOCIETY OF DALLAS WAS FORMED TO SERVE KOREAN AMERICANS IN DALLAS AREA AND FAMILIARIZE KOREAN IMMIGRANTS IN AMERICAN CULTURE BY HOLDING SEMINARS. WE ALSO HOST CHARITABLE EVENTS SUCH AS DONATING CLOTHES, FEEDING THE HOMELESS AND PROVIDING COUNSELING. LAST BUT NOT LEAST, WE EDUCATE IMMIGRANTS TO BECOME US CITIZENS IN ADDITION TO INSTRUCTING THEM ON VOTING REGULATIONS. ALSO, KOREAN SOCIETY OF DALAS HAS HOSTED THE ANNUAL KOREAN FESTIVAL WHICH HIGHLIGHTS KOREAN CULTURE INCLUDING FAN DANCES, TAEKWONDO DEMO, ART, KOREAN TRADITIONAL DRUMMERS, DANCERS, FOOD AND ENTERTAINMENT WITH CULTRAL AND K-POP PERFORMANCE.

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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 $172,327

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $172,327

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,742

Fundraising Expenses $690

Program Expenses $184,658

Other Expenses $174,951

TOTAL EXPENSES $185,693

Year-over-Year Comparison

	2024	2023	Change
Revenue	$172,327	$326,990	-0.5%
Expenses	$185,693	$320,808	-0.4%
Net Income	$-13,366	$6,182	-3.2%

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
SUNGHAN KIM	PRESIDENT	N/A	Officer	$0	$0	$0
BRIAN H JUN	VICE PRESIDE	N/A	Officer	$0	$0	$0
JOHN JUN	SR VICE PRES	N/A	Officer Director	$0	$0	$0
RICHARD YU	SR VICE PRES	N/A	Officer Director	$0	$0	$0
KYOUNG D BAIK	SR VICE PRES	N/A	Director	$0	$0	$0
KYUNGCHUL LEE	VICE PRESIDE	N/A	Director	$0	$0	$0
KUK JIN IN	VICE PRESIDN	N/A	Officer Director	$0	$0	$0
KIL JA PARK	VICE PRESIDE	N/A	Director	$0	$0	$0
HYON HO SOHNE	VICE PRESIDE	N/A	Director	$0	$0	$0
WONSEONG OH	DIRECTOR	N/A	Director	$0	$0	$0
JUNGWOO LEE	ADVISOR	N/A	Director	$0	$0	$0
SOOHWAN KIM	ADVISOR	N/A	Director	$0	$0	$0
JUNGSOON LEE	CHAIR OF EDU	N/A	Director	$0	$0	$0
TAE JO JUNG	CHIAR OF AFF	N/A	Director	$0	$0	$0
SIHNMIN PARK	ADVISOR	N/A	Director	$0	$0	$0
MYUNG SOOK HWANG	ADVISOR	N/A	Director	$0	$0	$0
SUNGWOO JUN	DIRECTOR	N/A	Director	$0	$0	$0
BUYUN PARK	DIRECTOR	N/A	Director	$0	$0	$0
KANG KIM	DIRECTOR	N/A	Director	$0	$0	$0
KYUNGSOOK HWANG	DIRECTOR	N/A	Director	$0	$0	$0
SOOHWAN KIM	DIRECTOR	N/A	Director	$0	$0	$0
SONGYONG LEE	DIRECTOR	N/A	Director	$0	$0	$0
KIL PAK	DIRECTOR	N/A	Director	$0	$0	$0
JOICE HWANG	DIRECTOR	N/A	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	$172,327	$185,693	$2,609	$-13,366
2023	$326,990	$320,808	$1,092	$6,182
2022	$142,076	$137,177	$24,518	$4,899
2021	$103,210	$95,870	$18,924	$7,340
2020	$201,364	$154,223	$11,937	$47,141
2019	$428,786	$514,399	$14,443	$-85,613
2018	$494,126	$492,928	$21,747	$1,198