THE KOREAN BAPTIST CHURCH

EIN: 841284211 501(c)(3) Religion

COLORADO SPRINGS, CO

Total Revenue
$257,555
Total Expenses
$276,200
Total Assets
$75,098
Net Assets
$75,098
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
CO
Principal Officer
CHRIS PARK
Phone
7195732598
Tax Period
2019-01-01 to 2019-12-31

THE KOREAN BAPTIST CHURCH, founded in 1994, is a small nonprofit in the Religion sector that reported $258K in total revenue in fiscal year 2019.

Mission

THE CHURCH ENCOURAGES EVERY CHURCH MEMBERS TO SPREAD THE GOOD NEWS OF JESUS CHRIST TO NON-BELIEVERS, AND EQUIP THEM FOR SPIRITUAL MATURITY THROUGH WORSHIP SERVICES, DISCIPLESHIP TRAININGS, CELL GROUP MEETINGS, BIBLE STUDIES, AND MISSION TRIPS.

Program Service Accomplishments

Program 1
Expenses: $276,200 Revenue: $257,555

THE ORGANIZATION WAS ESTABLISHED FOR THE PURPOSE OF ITS MEMBERS TO MAINTAIN AND IMPROVE THEIR SPRITUAL WELL BEINGS THROUGH ATTENDING WORSHIP SERVICES AND BIBLICAL EDUCATION WITH PRAYERS. 1. WORSHIP...

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THE ORGANIZATION WAS ESTABLISHED FOR THE PURPOSE OF ITS MEMBERS TO MAINTAIN AND IMPROVE THEIR SPRITUAL WELL BEINGS THROUGH ATTENDING WORSHIP SERVICES AND BIBLICAL EDUCATION WITH PRAYERS. 1. WORSHIP SERVICES: THE CHURCH HOLDS A KOREAN WORSHIP SERVICE EVERY SUNDAY AT 10:50 AM. AN EARLY MORNING PRAYER SERVICE IS HELD AT 5:30 AM EVERYDAY, AND A PRAISE AND WORSHIP SERVICE IS HELD AT 7:00 PM EVERY WEDNESDAY NIGHT. THESE SERVICES ARE HELD AT THE MAIN SANCTUARY OF THE CHURCH AND THEY ARE LED BY THE CHURCH PASTORS. 2. SUNDAY SCHOOL: THE CHURCH HOLDS A BIBLE SCHOOL EVERY SUNDAY FOR CHILDREN AT 10:00 AM., AND FOR YOUTH AND TODDLERS AND INFANTS AT 11:00 AM.

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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 (2019)

Revenue Breakdown

Contributions & Grants $257,524
Program Service Revenue $0
Investment Income $31
Other Revenue $0
TOTAL REVENUE $257,555

Expense Breakdown

Grants Paid $0
Salaries & Benefits $102,603
Fundraising Expenses $0
Program Expenses $276,200
Other Expenses $173,597
TOTAL EXPENSES $276,200

Year-over-Year Comparison

2019 2018 Change
Revenue $257,555 N/A N/A
Expenses $276,200 N/A N/A
Net Income $-18,645 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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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
4
Employees
2
Volunteers
4

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
$36,000
Total Directors
5
$36,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRIS PARK PRESIDENT 40.00
Officer Director
$36,000 $0 $36,000
THOMAS CHANG BOARD MEMBER 2.00
Director
$0 $0 $0
YOUNG CHOI BOARD MEMBER 2.00
Director
$0 $0 $0
JOORAN KIM SECRETARY 2.00
Officer Director
$0 $0 $0
WON KIM TREASURER 2.00
Officer 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
2019 $257,555 $276,200 $75,098 $-18,645
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