KOREAN AMERICAN FAMILY SERVICES INC

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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

1983

Legal Domicile

Principal Officer

KATHERINE YEOM

Phone

2133896755

Tax Period

2023-07-01 to 2024-06-30

KOREAN AMERICAN FAMILY SERVICES INC, founded in 1983, is a community nonprofit in the Human Services sector that reported $10.0M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.7M, a strong 27% operating margin.

Mission

TO SUPPORT AND STRENGTHEN KOREAN AMERICAN FAMILIES AND INDIVIDUALS IN THE GREATER LOS ANGELES AREA THROUGH COUNSELING, EDUCATION, AND OTHER SOCIAL SERVICES. SINCE ITS INCEPTION IN 1983, KFAM HAS PROVIDED ASSISTANCE TO TENS OF THOUSANDS OF KOREAN AMERICANS PARTICULARLY WOMEN, CHILDREN, IMMIGRANTS, AND LOW-INCOME FAMILIES. KFAM SPECIALIZES IN PROVIDING LINGUISTICALLY AND CULTURALLY APPROPRIATE SERVICES THROUGH ITS BILINGUAL AND BICULTURAL STAFF.

Program Service Accomplishments

Program 1

Expenses: $3,134,161 Revenue: $78,945

CHILD AND ADULT WELLNESS - PROGRAM PROVIDES INDIVIDUALS WITH TOOLS, SUPPORT AND RESOURCES TO MEET THEIR DIVERSE NEEDS AND ENHANCE THEIR QUALITY OF LIFE. CHILD CARE FOOD PROGRAM (CCFP) IS A FEDERAL...

CHILD AND ADULT WELLNESS - PROGRAM PROVIDES INDIVIDUALS WITH TOOLS, SUPPORT AND RESOURCES TO MEET THEIR DIVERSE NEEDS AND ENHANCE THEIR QUALITY OF LIFE. CHILD CARE FOOD PROGRAM (CCFP) IS A FEDERAL AND STATE FUNDED PROGRAM THAT PLAYS A VITAL ROLE IN HELPING MANY LOW-INCOME CHILDREN TO RECEIVE HEALTHY AND NUTRITIOUS MEALS. KFAM TRAINED 300 CHILDCARE PROVIDERS AND SERVED NUTRITIOUS MEALS TO NEARLY 2,800 CHILDREN. SUBSTANCE ABUSE PREVENTION (SAPC) PROGRAMS AIMS TO REDUCE THE USE OF ALCOHOL AND MARIJUANA, SERVED 210 YOUTH WITH TRAINING SESSIONS.

Program 2

Expenses: $1,404,191

GENDER BASED VIOLENCE PROGRAM - (GBV) PROVIDES BILINGUAL/BICULTURAL INTERVENTION AND PREVENTION SERVICES TO DV-IMPACTED INDIVIDUALS AND FAMILIES, INCLUDING 24-HOUR CRISIS HOTLINE, CASE MANAGEMENT AND EMPOWERMENT SERVICES FOR VICTIMS, SURVIVORS SUPPORT GROUP, BATTERERS INTERVENTION PROGRAM, CHILD SUPERVISED VISITATION, CHILD ABUSE PREVENTION/INTERVENTION, PREVENTION EDUCATION, TRAININGS, AND REFERRAL PARTNERSHIPS WITH CHURCHES AND COMMUNITY GROUPS. DURING THE FISCAL YEAR, COLLABORATED WITH 168 FAITH LEADERS TO STRENGTHEN THE COMMUNITY'S RESPONSE TO DOMESTICS VIOLENCE AND SERVED 1600 CLIENTS THROUGH ITS COMMUNITY PROGRAM.

Program 3

Expenses: $1,264,772

ASIAN ADOPTION AND FOSTER FAMILY INITIATIVE - AS THE NATION'S FIRST AND ONLY ASIAN PACIFIC ISLANDER-FOCUSED FOSTER FAMILY AGENCY, KAFS PROVIDES RECRUITMENT, TRAINING AND SUPPORT FOR API FOSTER...

ASIAN ADOPTION AND FOSTER FAMILY INITIATIVE - AS THE NATION'S FIRST AND ONLY ASIAN PACIFIC ISLANDER-FOCUSED FOSTER FAMILY AGENCY, KAFS PROVIDES RECRUITMENT, TRAINING AND SUPPORT FOR API FOSTER PARENTS TO PROVIDE CULTURALLY NURTURING AND SAFE TEMPORARY HOMES TO FOSTER CHILDREN. SERVICES ARE PROVIDED IN ENGLISH, KOREAN, CHINESE, TAGALOG AND VIETNAMESE. PROGRAM SERVICES INCLUDE PREVENTION AND INTERVENTION PROGRAMS, ADOPTION, PARENTING WORKSHOPS, SUPERVISED VISITATIONS WITH BIRTH PARENTS AND OTHER FAMILY SUPPORT SERVICES. DURING THE FISCAL YEAR, 31 CHILDREN WERE PLACED IN AFFI FOSTER FAMILIES AND SERVED 4,000 CLIENTS THROUGH ITS COMMUNITY 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 $9,779,348

Program Service Revenue $78,945

Investment Income $119,042

Other Revenue $0

TOTAL REVENUE $9,977,335

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,479,690

Fundraising Expenses $27,611

Program Expenses $6,671,282

Other Expenses $4,823,010

TOTAL EXPENSES $7,302,700

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,977,335	$7,724,812	+0.3%
Expenses	$7,302,700	$6,513,200	+0.1%
Net Income	$2,674,635	$1,211,612	+1.2%

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

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

$209,298

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALIX NAM	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY KIM	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN CHOI	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES YOO	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
CHRISTINE OH	DIRECTOR (UNTIL 1/1/2024)	1.00	Director	$0	$0	$0
DAVID KIM	DIRECTOR	1.00	Director	$0	$0	$0
ELISA LEE	TREASURER	1.00	Officer Director	$0	$0	$0
EUGENE KIM	VICE CHAIRPERSON	2.00	Officer Director	$0	$0	$0
HENRY BYUN	DIRECTOR	1.00	Director	$0	$0	$0
JAY PARK	DIRECTOR (UNTIL 7/17/2023)	1.00	Director	$0	$0	$0
JENNIFER SEO	DIRECTOR	1.00	Director	$0	$0	$0
JINA PARK	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH SEUNG	DIRECTOR	1.00	Director	$0	$0	$0
LINDA KWAK	SECRETARY	1.00	Officer Director	$0	$0	$0
LISA YANG	DIRECTOR	1.00	Director	$0	$0	$0
REGINA YOON	DIRECTOR	1.00	Director	$0	$0	$0
YUN KIM	DIRECTOR	1.00	Director	$0	$0	$0
AMY YI	FINANCE MANAGER	50.00	Officer	$66,867	$9,585	$76,452
KATHERINE YEOM	EXECUTIVE DIRECTOR	55.00	Officer	$124,908	$7,938	$132,846
JENNIFER OH	DEPUTY DIRECTOR	50.00	Highest	$100,095	$2,431	$102,526

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
2025	No data	No data	No data	No data
2024	$9,977,335	$7,302,700	$7,752,841	$2,674,635
2023	$7,724,812	$6,513,200	$5,257,799	$1,211,612
2022	$6,672,739	$6,081,452	$3,016,058	$591,287
2021	$3,546,383	$3,012,822	$2,651,069	$533,561
2020	$5,931,075	$5,867,941	$2,352,526	$63,134
2019	$6,229,738	$6,099,082	$1,836,765	$130,656
2018	$5,259,064	$5,095,033	$1,610,877	$164,031