KOREAN APPAREL MANUFACTURERS ASSOCIATION INC

EIN: 954276029

Los Angeles, CA

Total Revenue
$116,053
Total Expenses
$122,990
Total Assets
$4,390
Net Assets
$4,390
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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
1989
Legal Domicile
CA
Principal Officer
RICHARD CHO
Tax Period
2022-01-01 to 2022-12-31

KOREAN APPAREL MANUFACTURERS ASSOCIATION INC, founded in 1989, is a small nonprofit that reported $116K in total revenue in fiscal year 2022.

Mission

TO ENGAGE IN THE ACTIVITY OF EDUCATING AND ENLIGHTENING THE KOREAN GARMENT WHOLESALE INDUSTRY THROUGH LECTURES SEMINARS AND CHARITABLE WORKS

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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 (2022)

Revenue Breakdown

Contributions & Grants $45,550
Program Service Revenue $36,848
Investment Income $20
Other Revenue $33,635
TOTAL REVENUE $116,053

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $122,990
TOTAL EXPENSES $122,990

Year-over-Year Comparison

2022 2021 Change
Revenue $116,053 $117,152 0.0%
Expenses $122,990 $107,183 +0.1%
Net Income $-6,937 $9,969 -1.7%
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

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Governance

Voting Members
8
Independent Members
N/A
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
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
YOUNG GI CHANG CFO 8.00
Officer
$0 $0 $0
YOUNG GI CHANG SECRETARY 12.00
Officer
$0 $0 $0
RICHARD CHO PRESIDENT 12.00
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
2022 $116,053 $122,990 $4,390 $-6,937
2021 $117,152 $107,183 $11,327 $9,969
2019 $115,085 $114,992 $17,761 $93
2018 $174,769 $178,992 $17,668 $-4,223
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