Form 990 for tax year 2022
Filed by KOREAN GOSPEL BROADCASTING NETWORK.
Totals
- Total revenue
- $520,949
- Total expenses
- $1,359,899
- Contributions and grants received
- $520,949
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $2,742,556
- Total liabilities, end of year
- $1,273,647
- Net assets or fund balances, end of year
- $1,468,909
- Program services expenses (Part IX)
- $513,807
- Management and general expenses
- $846,092
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $513,807
Program services were 37.8% 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.
-
1f · All other contributions, gifts and grants
$520,949
-
3 · Investment income
total $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $12,175 · program services $12,175
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $9,645 · management and general $9,645
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $440,201 · program services $440,201
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $23,646 · management and general $23,646
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $809,799 · management and general $809,799
-
23 · Insurance
total $10,141 · program services $10,141
-
24a · Other expenses: UNTILITIES
total $41,857 · program services $41,857
-
24b · Other expenses: REPAIR & MAINTENANCE
total $5,819 · program services $5,819
-
24c · Other expenses: TAXES
total $2,878 · management and general $2,878
-
24d · Other expenses: TELEPHONE/INTERNET
total $2,760 · program services $2,760
-
24e · All other expenses
total $978 · program services $854 · management and general $124
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $205,803 · end of year $195,096
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $999 · end of year $202
-
10a · Land, buildings and equipment: cost or other basis
$1,142,697
-
10b · Land, buildings and equipment: accumulated depreciation
$856,552
-
10c · Land, buildings and equipment, net
beginning of year $356,611 · end of year $286,145
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
beginning of year $2,994,445 · end of year $2,261,113
-
15 · Other assets
beginning of year $1 · end of year $0
-
17 · Accounts payable and accrued expenses
end of year $23,646
-
25 · Other liabilities
beginning of year $1,250,000 · end of year $1,250,001
-
27 · Net assets without donor restrictions
beginning of year $2,307,859 · end of year $1,468,909
Mission and programs · 2022
Mission
HOLDING OWNERSHIP OF AM 1190 RADIO STATION AND PROVIDES THE STATION NETWORK TO KOREAN GOSPEL BROADCASTING CO. INC., 501(c)(3) NON-PROFIT ORGANIZATION, WHICH BROADCASTS FAITH GOSPEL PROGRAM 24 HOURS 7 DAYS.
Activities or mission (Part I)
HOLDS OWNERSHIP OF AM 1190 RADIO STATION AND PROVIDES THE STATION NETWORK TO KOREAN GOSPEL BROADCASTING CO. INC., 501(c)(3) NON-PROFIT ORGANIZATION, WHICH BROADCASTS FAITH GOSPEL PROGRAM 24 HOURS 7 DAYS.
-
HOLDING THE OWNERSHIP OF AM 1190 RADIO STATION AND MANAGE IT
Expenses $513,807
As filed on the 2022 return.
Listed in Part VII
-
Young Sun LeeYOUNG SUN LEE
President & CEO
- Total calculated
- $0
- Hours/week
- 40
-
Jungwoo BaekJUNGWOO BAEK
Director
- Total calculated
- $0
- Hours/week
- 1
-
Yu Chul ChinYU CHUL CHIN
Director
- Total calculated
- $0
- Hours/week
- 1
-
Paul Gi Hong HanPAUL GI HONG HAN
Executive Dir.
- Total calculated
- $0
- Hours/week
- 1
-
Joon Sik KimJOON SIK KIM
Director
- Total calculated
- $0
- Hours/week
- 1
-
Seung Hee David KoSEUNG HEE DAVID KO
Director
- Total calculated
- $0
- Hours/week
- 1
-
Hyuk Been KwonHYUK BEEN KWON
Director
- Total calculated
- $0
- Hours/week
- 1
-
Joshua NamJOSHUA NAM
Director
- Total calculated
- $0
- Hours/week
- 1
-
Byung Joo SongBYUNG JOO SONG
Director
- Total calculated
- $0
- Hours/week
- 1
-
Chong Hee YimCHONG HEE YIM
Director
- Total calculated
- $0
- Hours/week
- 1
-
Yun Kwon KookYUN KWON KOOK
Director
- Total calculated
- $0
- Hours/week
- 1
-
Bongju KooBONGJU KOO
Director
- 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.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
KOREAN GOSPEL BROADCASTING CO INC
501c3 · BROADCASTING · CA
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202341359349312349
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