HAWAII KOREAN CHAMBER OF COMMERCE FOUNDATION

EIN: 815384641 501(c)(3) Civil Rights & Advocacy

HONOLULU, HI

Total Revenue
$221,730
Total Expenses
$178,909
Total Assets
$5,490
Net Assets
$5,490
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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
HI
Principal Officer
GINA K NAKAMURA
Phone
8085443581
Tax Period
2024-01-01 to 2024-12-31

HAWAII KOREAN CHAMBER OF COMMERCE FOUNDATION, founded in 2017, is a small nonprofit in the Civil Rights & Advocacy sector that reported $222K in total revenue in fiscal year 2024. The organization ran a surplus of $43K, a strong 19% operating margin.

Mission

TO PROMOTE AND STRENGTHEN OUR DIVERSE COMMUNITY BY EDUCATING PRESENT AND FUTURE GENERATIONS IN THE EVOLVING KOREAN-AMERICAN EXPERIENCE IN HAWAII.

Program Service Accomplishments

Program 1
Expenses: $164,471 Revenue: $221,730

HKCC IS PARTNERING WITH THE KOREAN AMERICAN FOUNDATION, KOREAN DRAMA CLUBS AND HAWAII TOURISM AUTHORITY, KOREA TO SECURE A POPULAR KOREAN MOVIE AND POP STARS TO PERFORM AT THE FESTIVAL. THE...

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HKCC IS PARTNERING WITH THE KOREAN AMERICAN FOUNDATION, KOREAN DRAMA CLUBS AND HAWAII TOURISM AUTHORITY, KOREA TO SECURE A POPULAR KOREAN MOVIE AND POP STARS TO PERFORM AT THE FESTIVAL. THE ORGANIZATION EXPECTS THE PERFORMANCE TO ATTRACT A LARGE CROWD. A KOREAN FESTIVAL EXECUTIVE COMMITTEE FROM HKCC IS WORKING TOGETHER WITH A CORE GROUP OF VOLUNTEERS, COMPOSED OF MORE THAN 30 LEADERS OF VARIOUS ORGANIZATIONS IN THE KOREAN COMMUNITY. COLLECTIVELY, THE COMMITTEE HAS ACCESS TO MORE THAN 500 VOLUNTEERS TO ENSURE THE FESTIVAL'S SUCCESS. THE KOREAN FESTIVAL ATTRACTS WIDE PARTICIPATION FROM THE LOCAL COMMUNITY, GIVING PEOPLE OF DIVERSE BACKGROUNDS AND ETHNICITIES A SMALL TASTE OF KOREAN CULTURE. THE ANNUAL KOREAN FESTIVAL IS ONE OF THE PREMIER CULTURAL EVENTS IN HAWAII, BRINGING TOGETHER A BROAD ARRAY OF LOCAL BUSINESSES, COMMUNITY GROUPS, AND INDIVIDUAL VOLUNTEERS FROM THE KOREAN COMMUNITY IN A JOINT CELEBRATION OF THEIR UNIQUE HERITAGE

Program 2
Expenses: $6,000

THE HAWAII KOREAN CHAMBER OF COMMERCE IS PLEASED TO OFFER ITS ANNUAL SCHOLARSHIP TO OUTSTANDING STUDENTS WHO ARE ENROLLED OR WILL BE ENROLLING FULL-TIME IN AN ACCREDITED FOUR-YEAR COLLEGE FOR...

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THE HAWAII KOREAN CHAMBER OF COMMERCE IS PLEASED TO OFFER ITS ANNUAL SCHOLARSHIP TO OUTSTANDING STUDENTS WHO ARE ENROLLED OR WILL BE ENROLLING FULL-TIME IN AN ACCREDITED FOUR-YEAR COLLEGE FOR UNDERGRADUATE STUDIES. THE SCHOLARSHIP IS AIMED AT CIVIC-MINDED INDIVIDUALS WHO HAVE A COMMITMENT TO SERVE THE NEEDS OF THE IMMEDIATE COMMUNITY AND SOCIETY AT LARGE. THE SCHOLARSHIP CONSISTS OF THREE 2,000 AWARDS. THE RECIPIENTS WILL RECEIVE THEIR AWARDS AT THE ANNUAL KOREAN FESTIVAL. ALL RECIPIENTS OR A REPRESENTATIVE OF THE RECIPIENTS MUST BE PRESENT AT THE KOREAN FESTIVAL TO RECEIVE THE AWARD. QUALIFIED APPLICANTS MUST: BE OF KOREAN ANCESTRY (50% OR MORE) RESIDE IN HAWAII BE A COLLEGE-BOUND, GRADUATING HIGH SCHOOL SENIOR OR A FULL-TIME UNDERGRADUATE STUDENT AT AN ACCREDITED FOUR-YEAR COLLEGE. FOR FURTHER INFORMATION, PLEASE REFER TO THE APPLICATION, OR IF YOU HAVE ANY OTHER QUESTIONS, PLEASE CONTACT THE CHAMBER.

Program 3

TO PROMOTE INTEREST AND AWARENESS OF KOREAN CULTURE IN HAWAII

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $207,714
Program Service Revenue $14,016
Investment Income $0
Other Revenue $0
TOTAL REVENUE $221,730

Expense Breakdown

Grants Paid $6,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $170,471
Other Expenses $172,909
TOTAL EXPENSES $178,909

Year-over-Year Comparison

2024 2023 Change
Revenue $221,730 N/A N/A
Expenses $178,909 N/A N/A
Net Income $42,821 N/A N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
200

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
3
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAREN CHOE DIRECTOR 0.25
Director
$0 $0 $0
SHANNON HACKETT DIRECTOR 0.25
Director
$0 $0 $0
DAEJIN KIM DIRECTOR 0.25
Director
$0 $0 $0
JASON NAM DIRECTOR 0.25
Director
$0 $0 $0
RYAN HAMADON TREASURER 0.50
Officer
$0 $0 $0
GINA K NAKAMURA PRESIDENT 3.00
Officer
$0 $0 $0
GRACE OGAWA SECRETARY 1.00
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
2024 $221,730 $178,909 $5,490 $42,821
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