Skip to content
Nonprofiteer
← KOREAN CHAMBER OF COMMERCE OF LOS ANGELES

Form 990 for tax year 2024

Filed by KOREAN CHAMBER OF COMMERCE OF LOS ANGELES.

Totals

Total revenue
$812,006
Total expenses
$796,900
Contributions and grants received
$780,714
Grants paid
$0
Program service revenue
$0
Investment income
$31,292
Other revenue
$0
Total assets, end of year
$737,687
Total liabilities, end of year
$15,000
Net assets or fund balances, end of year
$722,687
Program services expenses (Part IX)
$663,738
Management and general expenses
$133,162
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 83.3% 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

    $181,000

  • 1f · All other contributions, gifts and grants

    $599,714

  • 3 · Investment income

    total $31,292 · excluded $31,292

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $61,572 · management and general $61,572

  • 9 · Other employee benefits

    total $39,202 · management and general $39,202

  • 10 · Payroll taxes

    total $4,871 · management and general $4,871

  • 11c · Fees: accounting

    total $2,425 · program services $1,212 · management and general $1,213

  • 12 · Advertising and promotion

    total $2,700 · program services $2,700

  • 13 · Office expenses

    total $29,420 · program services $14,710 · management and general $14,710

  • 16 · Occupancy

    total $38,648 · program services $27,054 · management and general $11,594

  • 19 · Conferences, conventions and meetings

    total $64,441 · program services $64,441

  • 24a · Other expenses: GALA

    total $190,329 · program services $190,329

  • 24b · Other expenses: IOB

    total $111,537 · program services $111,537

  • 24c · Other expenses: DONATION

    total $61,519 · program services $61,519

  • 24d · Other expenses: WORLD KOREAN BUSINESS

    total $48,972 · program services $48,972

  • 24e · All other expenses

    total $141,264 · program services $141,264

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $736,508 · end of year $737,687

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,043

  • 25 · Other liabilities

    beginning of year $15,000 · end of year $15,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $720,465 · end of year $722,687

Mission and programs · 2024

Mission

TO PROMOTE THE GENERAL WELFARE OF THE KOREAN AMERICAN BUSINESS COMMUNITY IN THE GREATER LOS ANGELES AREA AND TO ENSURE AND FACILITATE THE INTERESTS AND GROWTH OF OUR MEMBERS.

Activities or mission (Part I)

TO PROMOTE THE GENERAL WELFARE OF THE KOREAN AMERICAN BUSINESS COMMUNITY IN THE GREATER LOS ANGELES AREA AND TO ENSURE AND FACILITATE THE INTERESTS AND GROWTH OF OUR MEMBERS

  • TO PROMOTE THE GENERAL WELFARE OF THE KOREAN AMERICAN BUSINESS COMMUNITY IN THE GREATER LOS ANGELES AREA AND TO ENSURE AND FACILITATE THE INTERESTS AND GROWTH OF OUR MEMBERS.

  • TO PROMOTE THE GENERAL WELFARE OF THE KOREAN AMERICAN BUSINESS COMMUNITY IN THE GREATER LOS ANGELES AREA AND TO ENSURE AND FACILITATE THE INTERESTS AND GROWTH OF OUR MEMBERS.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dongwan Douglas Chong

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Minseon Ko

    CFO

    Total calculated
    $0
    Hours/week
    10

  • Yoon Jae Park

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

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
2024
Filed
5 November 2025
IRS schema version
2024v5.0
Source object
202533249349300503

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

The source document this was parsed from is served over the API, which is where bulk and document access live.