HEART & SEOUL GOSPEL MINISTRY (EIN 860989989) - 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

2006

Legal Domicile

Principal Officer

SEAN SEUNGKYU KANG

Phone

4803261623

Tax Period

2023-01-01 to 2023-12-31

HEART & SEOUL GOSPEL MINISTRY, founded in 2006, is a small nonprofit in the Human Services sector that reported $309K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $265K left a modest 14% surplus.

Mission

TO PROVIDE WEEKLY CHRISTIAN BROADCASTING AND THE DISTRIBUTION OF THAT BROADCAST VIA CD DISTRIBUTION PROGRAM.

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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 $308,081

Program Service Revenue $0

Investment Income $818

Other Revenue $0

TOTAL REVENUE $308,899

Expense Breakdown

Grants Paid $23,000

Salaries & Benefits $150,126

Fundraising Expenses $0

Program Expenses $74,657

Other Expenses $91,785

TOTAL EXPENSES $264,911

Year-over-Year Comparison

	2023	2022	Change
Revenue	$308,899	$355,822	-0.1%
Expenses	$264,911	$296,269	-0.1%
Net Income	$43,988	$59,553	-0.3%

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

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

$52,800

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
SEAN SEUNGKYU KANG	President	Officer	$52,800	$0	$52,800
KYOUNGEUN MIN	N/A		$39,600	$0	$39,600
SUN YOUNG KWON	N/A		$27,800	$0	$27,800
HEEOK KIM	N/A		$16,096	$0	$16,096
MEESUN WANG	N/A		$2,304	$0	$2,304
JI IN KIM	N/A		$1,250	$0	$1,250

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	No data	No data	No data	No data
2023	$308,899	$264,911	$1,395,894	$43,988
2022	$355,822	$296,269	$1,353,103	$59,553
2021	$453,259	$299,134	$1,292,144	$154,125
2020	$340,463	$307,126	$1,136,733	$33,337
2019	$330,458	$363,756	$1,099,748	$-33,298
2018	$285,705	$243,251	$1,138,662	$42,454

HEART & SEOUL GOSPEL MINISTRY