LOS ANGELES KOREAN FESTIVAL FOUNDA… - Form 990 Financial Data

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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

1999

Legal Domicile

Principal Officer

ALEX M CHA

Phone

2137098149

Tax Period

2023-01-01 to 2023-12-31

LOS ANGELES KOREAN FESTIVAL FOUNDATION, founded in 1999, is a community nonprofit in the Recreation & Sports sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $1.3M left a modest 4% surplus.

Mission

PROMOTE COMMUNITY UNITY BY PROVIDING THE FESTIVAL AND CULTURE EVENTS.

Program Service Accomplishments

Program 1

Expenses: $1,104,524

UNITY AMONG DIVERSFIED COMMUNITY THROUGH SHARING CURTURE EVENTS. TO OPERATE COMMUNITY FESTIVAL EVENT TO PROMOTE THE UNITY OF COMMUNITY.

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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 $30,000

Program Service Revenue $1,331,136

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,361,136

Expense Breakdown

Grants Paid $0

Salaries & Benefits $97,987

Fundraising Expenses $0

Program Expenses $1,104,524

Other Expenses $1,204,004

TOTAL EXPENSES $1,301,991

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,361,136	$1,028,281	+0.3%
Expenses	$1,301,991	$980,607	+0.3%
Net Income	$59,145	$47,674	+0.2%

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

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
MOO HAN BAE	BOARD MEMBER	N/A	Officer	$0	$0	$0
ALEX M CHA	CEO	N/A	Officer	$0	$0	$0
YOUNG NAE LEE	SECRETARY	N/A	Officer	$0	$0	$0
BENEDICT J PAK	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	No data	No data	No data	No data
2023	$1,361,136	$1,301,991	$98,720	$59,145
2022	$1,054,561	$1,027,020	$19,440	$27,541
2022	$1,028,281	$980,607	$39,573	$47,674
2021	$139,799	$144,538	$17,697	$-4,739
2020	$41,168	$146,964	$21,588	$-105,796
2019	$849,279	$730,531	$110,315	$118,748
2018	$1,088,140	$1,229,651	$130,630	$-141,511

LOS ANGELES KOREAN FESTIVAL FOUNDATION