Form 990 for tax year 2022
Filed by KOREAN PERFOMING ARTS INSTITUTE OF CHICAGO.
Totals
- Total revenue
- $391,689
- Total expenses
- $391,671
- Contributions and grants received
- $162,078
- Grants paid
- $3,151
- Program service revenue
- $229,611
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $179,873
- Total liabilities, end of year
- $177,900
- Net assets or fund balances, end of year
- $1,973
- Program services expenses (Part IX)
- $368,952
- Management and general expenses
- $22,719
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $368,952
Program services were 94.2% 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.
-
1b · Membership dues
$4,000
-
1e · Government grants (contributions)
$5,500
-
1f · All other contributions, gifts and grants
$152,578
-
2a · Program service revenue: EDUCATIONAL SERVICES
total $102,939 · unrelated business $0 · excluded $102,939
-
2b · Program service revenue: PERFORMING ART
total $126,672 · unrelated business $0 · excluded $126,672
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,151 · program services $3,151
-
5 · Compensation of officers, directors and key employees
total $186,800 · program services $186,800 · management and general $0 · fundraising $0
-
9 · Other employee benefits
total $50,239 · program services $50,239 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $15,297 · program services $15,297 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $20,639 · program services $0 · management and general $20,639 · fundraising $0
-
11c · Fees: accounting
total $1,000 · program services $0 · management and general $1,000 · fundraising $0
-
12 · Advertising and promotion
total $1,946 · program services $1,946 · management and general $0 · fundraising $0
-
13 · Office expenses
total $484 · program services $0 · management and general $484 · fundraising $0
-
16 · Occupancy
total $21,030 · program services $21,030 · management and general $0 · fundraising $0
-
17 · Travel
total $12,569 · program services $12,569 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $7,884 · program services $7,884 · management and general $0 · fundraising $0
-
20 · Interest
total $596 · program services $0 · management and general $596 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $4,306 · program services $4,306 · management and general $0 · fundraising $0
-
23 · Insurance
total $6,038 · program services $6,038 · management and general $0 · fundraising $0
-
24e · All other expenses
total $59,692 · program services $59,692 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $184,388 · end of year $91,823
-
10a · Land, buildings and equipment: cost or other basis
$94,144
-
10b · Land, buildings and equipment: accumulated depreciation
$6,094
-
10c · Land, buildings and equipment, net
beginning of year $33,968 · end of year $88,050
-
22 · Loans and payables to officers and key people
end of year $38,500
-
24 · Unsecured notes and loans payable
beginning of year $139,400 · end of year $139,400
-
27 · Net assets without donor restrictions
beginning of year $78,956 · end of year $1,973
Mission and programs · 2022
Mission
KOREAN PERFORMING ARTS INSTITUTE OF CHICAGO IS A COMMUNTY-BASED CULTURAL AND EDUCATIONAL ORGANIZATION DEDICATED TO DEVELOPING AND PROMOTING TRADITIONAL KOREAN CULTURAL AND PERFORMING ARTS AND TO NURTURING YOUTH LEADERSHIP THROUGH PARTICIPATION IN THESE ARTS, ESPECIALLY IN THE KOREAN PERCUSSION ART FORM KNOWN AS PUNGMUL. GPI PRESENTS THREE PROGRAMS/GROUPS: THE YOUTH PUNGMUL PROGRAM AND ITS ENSEMBLE SORIBEAT, THE ADULT PUNGMUL PROGRAM NORIBEAT, AND THE PROFESSIONAL MUSICIAN GROUP RHYTHM CONNECTIONS.
Activities or mission (Part I)
TO DEVELOP TRADITIONAL KOREAN CULTURAL AND PERFORMING ARTS IN FURTHERANCE OF YOUTH LEADERSHIP, CROSS-CULTURAL UNDERSTANDING, AND COLLABORATION AMONG VARIED COMMUNITIES
-
PERFORMANCE PROJECT : TO DEVELOP TRADITIONAL KOREAN CULTURAL AND PERFORMING ARTS IN FURTHERANCE OF CROSS-CULTURAL UNDERSTANDING, AND COLLABORATION AMONG VARIED COMMUNITES.
Expenses $203,544 · Grants $3,151 · Revenue $126,672
-
EDUCATIONAL SERVICE : TO TEACH AND PROMOTE KOREAN CULTURAL HERITAGE THROUGH TRADITIONAL KOREAN CULTURAL AND PERFORMING ARTS. TO NURTURE LEADERSHIP SKILLS AMONG YOUTH AND TO REACH OUT TO OTHER COMMUNITES FOR MUTUAL EDUCATION ABOUT EACH OTHER'S TRADITIONAL CULTURAL AND PERFORMING ARTS.
Expenses $165,408 · Revenue $102,939
As filed on the 2022 return.
Listed in Part VII
-
Byoung Sug KimBYOUNG SUG KIM
PRESIDENT
- Total calculated
- $0
- Hours/week
- 25
-
Ji-Yeon YuhJI-YEON YUH
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Eun Kyung KoEUN KYUNG KO
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Joshua KimJOSHUA KIM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Jinhwa SuhJINHWA SUH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Suwan ChoiSUWAN CHOI
EDUCATION DIRECTOR
- Total calculated
- $29,400
- From this org
- $29,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 35
-
Chansoo LeeCHANSOO LEE
EDUCATION DIRECTOR
- Total calculated
- $36,000
- From this org
- $36,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Yun Sil JangYUN SIL JANG
EDUCATION DIRECTOR
- Total calculated
- $21,000
- From this org
- $21,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 20
-
Deokhwan KimDEOKHWAN KIM
EDUCATION DIRECTOR
- Total calculated
- $24,400
- From this org
- $24,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 30
-
Jane ParkJANE PARK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Jae HaJAE HA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Young Seok LeeYOUNG SEOK LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Woosung JungWOOSUNG JUNG
EDUCATION DIRECTOR
- Total calculated
- $36,000
- From this org
- $36,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Hojin ChoiHOJIN CHOI
EDUCATION DIRECTOR
- Total calculated
- $36,000
- From this org
- $36,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Naomi FrydmanNAOMI FRYDMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Kristina YiKRISTINA YI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Sungjae LeeSUNGJAE LEE
EDUCATION DIRECTOR
- Total calculated
- $4,000
- From this org
- $4,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 7
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 9 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202341329349306544
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