KOREAN AMERICAN FOUNDATION

EIN: 832513160 501(c)(3) Philanthropy & Grantmaking

LOS ANGELES, CA

Total Revenue
$1,049,886
Total Expenses
$451,584
Total Assets
$4,375,160
Net Assets
$4,371,678
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
CA
Principal Officer
KEVIN KANG
Phone
2137922301
Tax Period
2023-10-01 to 2024-09-30

KOREAN AMERICAN FOUNDATION, founded in 2018, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $1.0M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. The organization ran a surplus of $598K, a strong 57% operating margin.

Mission

Our mission is to help strengthen communities, with a particular focus on the Korean American community, and build a brighter future for all residents of Southern California (the "Community"), by (i) seeking to improve life for all residents, especially those who are most vulnerable; (ii) promoting philanthropy and acting as an effective steward of charitable funds; and (iii) collaborating with community based organizations to build their capacity to increase their effectiveness and ensure their sustainability.

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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 $916,878
Program Service Revenue $0
Investment Income $132,975
Other Revenue $33
TOTAL REVENUE $1,049,886

Expense Breakdown

Grants Paid $330,492
Salaries & Benefits $15,366
Fundraising Expenses $0
Program Expenses $330,492
Other Expenses $105,726
TOTAL EXPENSES $451,584

Year-over-Year Comparison

2023 2022 Change
Revenue $1,049,886 $1,172,842 -0.1%
Expenses $451,584 $550,142 -0.2%
Net Income $598,302 $622,700 0.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
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
3
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN LIM SECRETARY 0.00
Officer Director
$0 $0 $0
KEVIN KANG CHIEF EXECUTIVE OFFICER/CHAIRMAN 0.00
Officer Director
$0 $0 $0
DAVID LEE BOARD MEMBER 0.00
Director
$0 $0 $0
ROBIN KIM BOARD MEMBER 0.00
Director
$0 $0 $0
THOMAS HAN BOARD MEMBER 0.00
Director
$0 $0 $0
JERRY KANG BOARD MEMBER 0.00
Director
$0 $0 $0
ALBERT JANG CHIEF FINANCIAL OFFICER/TREASURER 0.00
Officer Director
$0 $0 $0
KAE H KO BOARD MEMBER/ INTERIM EXECUTIVE DIRECTOR 0.00
Director
$0 $0 $0
JOANNE KIM BOARD MEMBER 0.00
Director
$0 $0 $0
TERRI MOSQUEDA BOARD MEMBER 0.00
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 $1,049,886 $451,584 $4,375,160 $598,302
2023 $1,172,842 $550,142 $2,737,739 $622,700
2022 $2,358,281 $571,745 $2,042,303 $1,786,536
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