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Nonprofiteer
← KOREAN RESOURCE CENTER INC

Form 990 for tax year 2022

Filed by KOREAN RESOURCE CENTER INC.

Totals

Total revenue
$2,088,542
Total expenses
$1,351,382
Contributions and grants received
$2,029,517
Grants paid
$0
Program service revenue
$84,044
Investment income
$1,849
Other revenue
-$26,868
Total assets, end of year
$4,829,872
Total liabilities, end of year
$1,840,327
Net assets or fund balances, end of year
$2,989,545
Program services expenses (Part IX)
$1,000,517
Management and general expenses
$322,979
Fundraising expenses
$27,886
Program service expenses (Part III)
$1,000,517

Program services were 74.0% 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

    $12,245

  • 1f · All other contributions, gifts and grants

    $2,017,272

  • 2a · Program service revenue: PROGRAM FEES

    total $84,044 · related or exempt $84,044

  • 3 · Investment income

    total $1,849 · excluded $1,849

  • 6a · Gross rents

    real property $128,116

  • 6b · Less rental expenses

    real property $157,989

  • 6c · Rental income or loss

    real property -$29,873

  • 6d · Net rental income or loss

    total -$29,873 · unrelated business -$19,727 · excluded -$10,146

  • 11a · Other revenue: OTHER INCOME

    total $3,005 · excluded $3,005

  • 11e · Other revenue, total

    $3,005

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $84,923 · program services $69,989 · management and general $12,212 · fundraising $2,722

  • 7 · Other salaries and wages

    total $613,818 · program services $504,893 · management and general $87,143 · fundraising $21,782

  • 9 · Other employee benefits

    total $45,202 · program services $37,930 · management and general $7,272

  • 10 · Payroll taxes

    total $55,262 · program services $46,436 · management and general $6,913 · fundraising $1,913

  • 11b · Fees: legal

    total $155,523 · program services $16,168 · management and general $139,355

  • 11c · Fees: accounting

    total $37,949 · program services $3,800 · management and general $34,004 · fundraising $145

  • 11d · Fees: lobbying

    total $15,443 · program services $15,443

  • 11g · Fees: other

    total $68,049 · program services $60,371 · management and general $7,616 · fundraising $62

  • 13 · Office expenses

    total $90,480 · program services $80,102 · management and general $9,487 · fundraising $891

  • 16 · Occupancy

    total $36,509 · program services $36,509

  • 17 · Travel

    total $11,592 · program services $11,592

  • 20 · Interest

    total $39,812 · program services $31,854 · management and general $7,958

  • 22 · Depreciation, depletion and amortization

    total $5,687 · program services $4,550 · management and general $1,137

  • 23 · Insurance

    total $21,392 · program services $19,700 · management and general $1,379 · fundraising $313

  • 24a · Other expenses: SETTLEMENT EXPENSE

    total $31,255 · program services $31,255

  • 24b · Other expenses: COMMUNITY SUPPORT

    total $24,682 · program services $24,682

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $6,333 · program services $664 · management and general $5,669

  • 24d · Other expenses: MEALS & ENTERTAINMENT

    total $4,959 · program services $3,907 · management and general $1,052

  • 24e · All other expenses

    total $2,512 · program services $672 · management and general $1,782 · fundraising $58

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $965,900 · end of year $1,616,638

  • 2 · Savings and temporary cash investments

    beginning of year $137,730 · end of year $2,397

  • 3 · Pledges and grants receivable

    beginning of year $75,571 · end of year $285,549

  • 4 · Accounts receivable

    beginning of year $25,583 · end of year $717

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,629 · end of year $14,816

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

    $2,868,754

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

    $250,951

  • 10c · Land, buildings and equipment, net

    beginning of year $2,650,693 · end of year $2,617,803

  • 15 · Other assets

    beginning of year $250,000 · end of year $291,952

  • 17 · Accounts payable and accrued expenses

    beginning of year $109,687 · end of year $76,538

  • 23 · Secured mortgages and notes payable

    beginning of year $1,752,034 · end of year $1,708,825

  • 25 · Other liabilities

    beginning of year $0 · end of year $54,964

  • 27 · Net assets without donor restrictions

    beginning of year $2,077,733 · end of year $2,604,996

  • 28 · Net assets with donor restrictions

    beginning of year $174,652 · end of year $384,549

Mission and programs · 2022

Mission

SEE SCHEDULE O

  • VIETNAMESE ORGANIZING PROJECTVIETRISE ADVANCES SOCIAL JUSTICE AND BUILDS POWER WITH WORKING-CLASS VIETNAMESE AND IMMIGRANT COMMUNITIES IN ORANGE COUNTY. WE BUILD LEADERSHIP AND CREATE SYSTEMIC CHANGE THROUGH ORGANIZING, NARRATIVE CHANGE, CULTURAL EMPOWERMENT, AND CIVIC ENGAGEMENT. IN 2022, VIETRISE EDUCATED, TRAINED AND OUTREACHED TO MORE THAN 3,500 COMMUNITY MEMBERS.

    Expenses $430,294 · Revenue $23,455

  • IMMIGRANT LEGAL SERVICESKRC PROVIDES IN-LANGUAGE LEGAL SERVICES AND EDUCATION TO LOW-INCOME IMMIGRANT KOREAN AMERICANS, ASIAN AMERICANS AND PACIFIC ISLANDERS (AAPI), AND OTHER LOW-INCOME COMMUNITIES OF COLOR. RECOGNIZED BY THE DEPARTMENT OF JUSTICE'S BOARD OF IMMIGRATION APPEALS (BIA), ACCREDITED KRC STAFF CONDUCT A VARIETY OF IMMIGRATION LEGAL SERVICES AT LOW TO NO COST PROVIDE LINGUISTICALLY AND CULTURALLY APPROPRIATE LEGAL SERVICES TO OUR COMMUNITY. IN 2022, KRC ASSISTED DIRECTLY AND PROVIDED INFORMATION TO OVER 3,000 COMMUNITY MEMBERS.

    Expenses $253,160 · Revenue $39,745

  • HOUSINGKRC'S HOUSING PROGRAM PROVIDES RENTAL HOUSING COUNSELING AND FINANCIAL MANAGEMENT/ BUDGET COUNSELING TO THE MOST VULNERABLE MEMBERS OF THE KOREAN AMERICAN COMMUNITY OF GREATER LOS ANGELES AND ORANGE COUNTY. WE SEEK TO CREATE SAFER COMMUNITIES AND EMPOWER LOW-INCOME RESIDENTS OF ALL AGES THROUGH LINGUISTICALLY AND CULTURALLY COMPETENT HOUSING COUNSELING INCLUDING AFFORDABLE HOUSING COUNSELING, TENANTS' RIGHT EDUCATION AND RESOLVING FINANCIAL CHALLENGES. IN 2022, KRC ASSISTED DIRECTLY AND PROVIDED INFORMATION TO MORE THAN 2,500 COMMUNITY MEMBERS.

    Expenses $202,751 · Revenue $3,147

  • ORGANIZING/CIVIC ENGAGEMENT-PROMOTING AND HELPING KOREAN AMERICANS AND IMMIGRANTS OBTAIN AMERICAN CITIZENSHIP AND VOTING RIGHTS WITH THE GREATER GOAL OF BUILDING A NATIONAL MOVEMENT FOR SOCIAL CHANGE. ALSO, HELPING KOREAN AMERICAN AND IMMIGRANTS PROTECT THEIR CIVIL RIGHTS AND LIBERTIES. IN 2021, KRC TRAINED KOREAN AMERICAN YOUTH AND OTHER YOUTH ON HOW TO BUILD NETWORKS WITHIN THE IMMIGRANT AND YOUNG ADULT ORGANIZING SPACES. THEY WERE ALSO TRAINED IN CIVIL ENGAGEMENT AND ON HIGHLY CRITICAL AND POLITICAL TOPICS THAT AFFECT IMMIGRANT COMMUNITIES.HEALTHCARE IS A HUMAN RIGHT - EVERYONE SHOULD HAVE ACCESS TO QUALITY HEALTH CARE AND PUBLIC BENEFITS. ENSURE ACCESS TO LOW-COST OR FREE HEALTH CARE AND COVERAGE, WITH INFORMATION IN PATIENTS' PRIMARY LANGUAGES. PRESERVE AND FULLY FUND THE SOCIAL SERVICE "SAFETY NET" FOR EVERYONE. PROVIDE LOW-INCOME IMMIGRANT WOMEN AND GIRLS WITH ACCESS TO CULTURALLY APPROPRIATE INFORMATION NECESSARY TO MAKE INFORMED DECISIONS ABOUT THEIR REPRODUCTIVE HEALTH AND RIGHTS. REPRODUCTIVE HEALTH NEEDS TO BE AN INTEGRAL PART OF OUR STATE SAFETY NET. THE KOREAN RESOURCE CENTER HAS PIONEERED IN MULTIPLE DIGITAL AND DATA PROGRAMMATIC AREAS AMONG COMMUNITY BUILDING ORGANIZATIONS IN SOUTHERN CALIFORNIA OVER FIFTEEN YEARS.

    Expenses $114,312 · Revenue $17,697

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ANGELA OH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BEA OLVERA STOTZER

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • HYUN WOO SHIN

    DIRECTOR UNITIL 02/24/22

    Total calculated
    $0
    Hours/week
    1

  • JAMES MULLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUN HEE CHOI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JULIE LEE KURUMADA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WONKOO CHANG

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ZU KIM

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • HEAJA KIM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAMILLA LEW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BETHANY LEAL

    DEPUTY EXECUTIVE DIRECTOR

    Total calculated
    $84,923
    From this org
    $76,721
    From related orgs
    $0
    Other
    $8,202
    Hours/week
    40

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
13 November 2023
IRS schema version
2022v5.0
Source object
202313189349301001

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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