KOREAN AMERICAN MUSIC ACADEMY

EIN: 954290753 501(c)(3)

TUJUNGA, CA

Total Revenue
$216,202
Total Expenses
$211,085
Total Assets
$26,309
Net Assets
$26,309
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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
TIM CHOI
Phone
8186532188
Tax Period
2023-09-01 to 2024-08-31

KOREAN AMERICAN MUSIC ACADEMY, founded in 1989, is a small nonprofit that reported $216K in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring.

Mission

provide a unique and important educational experience to young Korean-Americans in gaining, enhancing musical, vocal skills, and building life-long appreciation of music through the experience of sharing the joy of music

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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 $163,648
Program Service Revenue $52,554
Investment Income $0
Other Revenue $0
TOTAL REVENUE $216,202

Expense Breakdown

Grants Paid $3,300
Salaries & Benefits $114,545
Fundraising Expenses $0
Program Expenses $32,076
Other Expenses $93,240
TOTAL EXPENSES $211,085

Year-over-Year Comparison

2023 2022 Change
Revenue $216,202 $346,376 -0.4%
Expenses $211,085 $367,335 -0.4%
Net Income $5,117 $-20,959 -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

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Governance

Voting Members
13
Independent Members
13
Employees
7
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
$38,500
Total Directors
0
$0
Key Employees
1
$38,500
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Yoosun Kim Secretary 020.00
Officer Key Emp Highest
$38,500 $0 $38,500
Tim Choi CEO N/A
Officer
$0 $0 $0
Lina Seunghee Shin CFO N/A
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
2024 $216,202 $211,085 $26,309 $5,117
2023 $346,376 $367,335 $21,192 $-20,959
2019 $298,849 $309,890 $48,042 $-11,041
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