KOREATOWN ORGANIZATIONS ASSOCIATION INC (EIN 954754419) - 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

1998

Legal Domicile

Principal Officer

PAUL KIM

Phone

2133831310

Tax Period

2024-01-01 to 2024-12-31

KOREATOWN ORGANIZATIONS ASSOCIATION INC, founded in 1998, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $267K, a strong 21% operating margin.

Mission

MAINTAIN CULTURAL, CIVIC, COMMUNITY SERVICE CENTER IN KOREATOWN TO SERVE KOREATOWN-BASED COMMUNITY ORGANIZATIONS

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,188,972

Investment Income $69,971

Other Revenue $0

TOTAL REVENUE $1,258,943

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $992,108

Other Expenses $992,108

TOTAL EXPENSES $992,108

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,258,943	$1,150,541	+0.1%
Expenses	$992,108	$1,049,004	-0.1%
Net Income	$266,835	$101,537	+1.6%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOON BANG	DIRECTOR	N/A	Director	$0	$0	$0
CONNIE CHUNG JOE	SECRETARY	N/A	Director	$0	$0	$0
PAUL KIM	PRESIDENT	N/A	Officer Director	$0	$0	$0
ERIN PAK	DIRECTOR	N/A	Director	$0	$0	$0
SHINAE YOON	DIRECTOR	N/A	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
2025	No data	No data	No data	No data
2024	$1,258,943	$992,108	$5,787,265	$266,835
2023	$1,150,541	$1,049,004	$5,592,747	$101,537
2022	$1,124,159	$944,747	$5,559,596	$179,412
2021	$1,164,495	$760,088	$5,485,944	$404,407
2020	$1,035,684	$783,277	$5,259,630	$252,407
2019	$999,329	$955,974	$5,143,576	$43,355
2018	$820,629	$1,148,791	$5,197,095	$-328,162

KOREATOWN ORGANIZATIONS ASSOCIATION INC