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Nonprofiteer
← COUNCIL OF KOREAN AMERICANS INC

Form 990 for tax year 2022

Filed by COUNCIL OF KOREAN AMERICANS INC.

What the amendment changed

Compared with the return it replaced , filed 6 February 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$222,449 changed to $1,693,164
Total expenses
$289,783 changed to $1,499,765
Contributions and grants received
$177,825 changed to $1,187,337
Program service revenue
$42,868 changed to $796,898
Investment income
$208 changed to $8,323
Other revenue
$1,548 changed to -$299,394
Total assets, end of year
$1,254,977 changed to $1,336,176
Total liabilities, end of year
$332,008 changed to $219,784
Net assets or fund balances, end of year
$922,969 changed to $1,116,392
Program services expenses
$236,605 changed to $1,161,330
Management and general expenses
$31,318 changed to $76,859
Fundraising expenses
$21,860 changed to $261,576
Program service expenses (Part III)
$236,605 changed to $1,161,330

Listed only on the earlier return

  • Esther Song
  • Peter Huh

Listed only on the later return

  • Ester Song
  • Kate Seitz
  • Leezie Kim
  • Peter Huh Until Nov 22
  • Randy Sim
  • Soo Venkatesan

Listed under a different title

  • Charles Yoon: DIRECTOR then DIRECTOR (THRU NOV 22)
  • Eugene Choi: DIRECTOR then TREASURER
  • Lisa Yang: DIRECTOR then SECRETARY (EFF NOV 22)
  • Michael Keyoung: DIRECTOR then DIRECTOR (THRU NOV 22)
  • Michelle Rhyu: VICE CHAIR then VICE CHAIR (UNTIL NOV 22)
  • Salle Yoo: DIRECTOR then DIRECTOR (THRU NOV 22)
  • Suzanne Kim Doud Galli: DIRECTOR then SECRETARY(UNTIL NOV 22)

Totals

Total revenue
$1,693,164
Total expenses
$1,499,765
Contributions and grants received
$1,187,337
Grants paid
$0
Program service revenue
$796,898
Investment income
$8,323
Other revenue
-$299,394
Total assets, end of year
$1,336,176
Total liabilities, end of year
$219,784
Net assets or fund balances, end of year
$1,116,392
Program services expenses (Part IX)
$1,161,330
Management and general expenses
$76,859
Fundraising expenses
$261,576
Program service expenses (Part III)
$1,161,330

Program services were 77.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $196,740

  • 1f · All other contributions, gifts and grants

    $990,597

  • 2a · Program service revenue: SPONSORSHIPS

    total $576,376 · related or exempt $576,376

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $220,522 · related or exempt $220,522

  • 3 · Investment income

    total $8,323 · excluded $8,323

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $196,740

  • 8b · Fundraising events: direct expenses

    $326,894

  • 8c · Net income from fundraising events

    total -$326,894 · excluded -$326,894

  • 11a · Other revenue: MISCELLANEOUS

    total $27,500 · related or exempt $27,500

  • 11e · Other revenue, total

    $27,500

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $247,065 · program services $191,766 · management and general $1,410 · fundraising $53,889

  • 7 · Other salaries and wages

    total $344,272 · program services $267,216 · management and general $1,965 · fundraising $75,091

  • 9 · Other employee benefits

    total $119,451 · program services $92,715 · management and general $682 · fundraising $26,054

  • 11c · Fees: accounting

    total $64,186 · management and general $64,186

  • 11g · Fees: other

    total $149,054 · program services $128,965 · fundraising $20,089

  • 12 · Advertising and promotion

    total $13,851 · program services $13,746 · management and general $105

  • 13 · Office expenses

    total $52,623 · program services $39,385 · management and general $6,295 · fundraising $6,943

  • 14 · Information technology

    total $22,394 · program services $21,597 · fundraising $797

  • 16 · Occupancy

    total $20,799 · program services $17,148 · management and general $1,779 · fundraising $1,872

  • 17 · Travel

    total $147,549 · program services $84,079 · fundraising $63,470

  • 19 · Conferences, conventions and meetings

    total $281,227 · program services $269,227 · fundraising $12,000

  • 23 · Insurance

    total $2,366 · program services $1,420 · management and general $437 · fundraising $509

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $34,928 · program services $34,066 · fundraising $862

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $78,115 · end of year $97,037

  • 2 · Savings and temporary cash investments

    beginning of year $1,106,181 · end of year $1,200,791

  • 4 · Accounts receivable

    beginning of year $7,281 · end of year $5,281

  • 9 · Prepaid expenses and deferred charges

    beginning of year $59,125 · end of year $28,792

  • 10a · Land, buildings and equipment: cost or other basis

    $12,000

  • 10b · Land, buildings and equipment: accumulated depreciation

    $12,000

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $4,275 · end of year $4,275

  • 17 · Accounts payable and accrued expenses

    beginning of year $85,424 · end of year $79,589

  • 19 · Deferred revenue

    beginning of year $102,353 · end of year $3,656

  • 25 · Other liabilities

    beginning of year $144,231 · end of year $136,539

  • 27 · Net assets without donor restrictions

    beginning of year $749,337 · end of year $976,936

  • 28 · Net assets with donor restrictions

    beginning of year $173,632 · end of year $139,456

Mission and programs · 2022

Mission

WE ASPIRE TO A WORLD IN WHICH KOREAN AMERICAN LEADERS SERVE AT THE HIGHEST LEVELS IN SOCIETY.

Activities or mission (Part I)

TO ADVANCE THE NATIONAL VOICE AND INFLUENCE OF THE KOREAN AMERICAN COMMUNITY THROUGH COLLABORATION AND LEADERSHIP DEVELOPMENT.

  • LEADERSHIP DEVELOPMENT AND MENTORING: PROGRAMS AND ACTIVITIES SUPPORTING THEDEVELOPMENT OF FUTURE KOREAN AMERICAN LEADERS THROUGH SCHOLARSHIPS, INTERNSHIPS, EDUCATION, AND MENTORING, AND THE NATIONAL LEADERSHIP CONFERENCE EXPLORING KOREAN AMERICAN ISSUES, CULTURE, IMPACT AND IDENTITY.

    Expenses $83,443 · Revenue $35,026

  • MEMBERSHIP: PROGRAMS AND ACTIVITIES DESIGNED TO GROW THE MEMBERSHIP OF THE COUNCIL AND TO DEEPEN THE ENGAGEMENT OF MEMBERS IN THE COUNCIL'S MISSION. SINCE 2011, CKA HAS BEEN BUILDING A MOVEMENT. WE BEGAN AS AN ALL-VOLUNTEER GROUP OF KOREAN AMERICAN LEADERS IN SF, DC, AND LA WHO WANTED TO BUILD A NATIONAL ORGANIZATION TO STRENGTHEN THE VOICE, VISIBILITY, AND INFLUENCE OF OUR COMMUNITY. TODAY, CKA HAS FOUR FULL-TIME STAFF, 15 BOARD MEMBERS, 230+ MEMBERS, AND A GLOBAL NETWORK OF PARTNER ORGANIZATIONS AND SUPPORTERS.

    Expenses $710,775 · Revenue $381,974

  • VOICE AND ADVOCACY: PROGRAMS AND ACTIVITIES THAT PROMOTE CIVIC ENGAGEMENT OF KOREAN AMERICANS AND ADVANCE OUR ADVOCACY POSITIONS ON ISSUES, INCLUDING, FOR EXAMPLE, NORTH KOREA, CIVIL RIGHTS, RACE RELATIONS. CKA IS THE LEADING INDEPENDENT, NONPARTISAN, NATIONAL LEADERSHIP ORGANIZATION FOR KOREAN AMERICANS. WE ARE DEDICATED TO CONNECTING, INSPIRING, AND EQUIPPING MULTI-GENERATIONAL LEADERS FOR GREATER INFLUENCE AND IMPACT. WE ALSO BUILD COALITIONS ACROSS RACIAL AND ETHNIC GROUPS SO THAT KOREAN AMERICANS CAN HAVE A BROADER IMPACT. AS KOREAN AMERICANS, WE UNDERSTAND WHAT IT MEANS TO RISE ABOVE CHALLENGES AND DEAL WITH ADVERSITY.

    Expenses $35,866 · Revenue $11,714

  • Expenses $331,246 · Revenue $379,294

As filed on the 2022 return.

Listed in Part VII

  • Abraham Kim

    EXECUTIVE DIRECTOR

    Total calculated
    $261,805
    From this org
    $254,440
    From related orgs
    $0
    Other
    $7,365
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,440
    Bonus
    $0
    Other
    $0
    Deferred
    $3,338
    Nontaxable benefits
    $4,027
    Filer's total
    $261,805

  • Angela Killoren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles Yoon

    DIRECTOR (THRU NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Ester Song

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eugene Choi

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Gideon Yu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gloria J Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Hosea Chang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jinhee Ahn Kim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kate Seitz

    DIRECTOR (EFF NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Kee B Park

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leezie Kim

    DIRECTOR (EFF NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Lisa Yang

    SECRETARY (EFF NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Michael Keyoung

    DIRECTOR (THRU NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Michelle Rhyu

    VICE CHAIR (UNTIL NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Peter Huh Until Nov 22

    CHAIR( EFF NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Philip Yun

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Randy Sim

    DIRECTOR (EFF NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Salle Yoo

    DIRECTOR (THRU NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Soo Venkatesan

    VICE CHAIR (EFF NOV 2022)

    Total calculated
    $0
    Hours/week
    1

  • Susan Kim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Suzanne Kim Doud Galli

    SECRETARY(UNTIL NOV 22)

    Total calculated
    $0
    Hours/week
    1

  • Yul Kwon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sun E Choi

    GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 February 2024
IRS schema version
2022v5.0
Source object
202440459349302219

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