Form 990 for tax year 2024

Totals

Total revenue

$3,612,162

Total expenses

$3,984,029

Contributions and grants received

$2,324,032

Grants paid

$18,000

Program service revenue

$419,581

Investment income

$1,015,160

Other revenue

-$146,611

Total assets, end of year

$29,283,362

Total liabilities, end of year

$2,604,977

Net assets or fund balances, end of year

$26,678,385

Program services expenses (Part IX)

$2,661,754

Management and general expenses

$578,307

Fundraising expenses

$743,968

Program service expenses (Part III)

$2,661,754

Program services were 66.8% 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.

Mission and programs · 2024

• MEDIA: SEE SCHEDULE O.

  Expenses $730,126

• EDUCATION: SEE SCHEDULE O.

  Expenses $627,325 · Grants $18,000 · Revenue $415,367

• POLICY: SEE SCHEDULE O.

  Expenses $475,804

• Withheld by Nonprofiteer: this text may name a private individual.

  Expenses $386,384

• CORPORATE: THE KOREA SOCIETY'S BUSINESS AND ECONOMIC PROGRAMS PROVIDE THE INTERNATIONAL BUSINESS COMMUNITY WITH UNIQUE ACCESS TO THE ISSUES AND INDIVIDUALS THAT DEFINE THE U.S.-KOREA BUSINESS RELATIONSHIP IN A RAPIDLY CHANGING GLOBAL ENVIRONMENT. IN CONTINUATION OF THIS EFFORT, OUR ONGOING LEADERSHIP INTERVIEW SERIES HAS EXPANDED WITH THE ESTABLISHMENT OF A SUBSERIES "LOCAL LEADERSHIP IN GLOBAL CONTEXT" TO BROADEN OUR UNDERSTANDING OF LOCAL AND MUNICIPAL LEADERSHIP IN KOREA. 2024 ALSO MARKED THE BEGINNING OF TWO PROGRAM INITIATIVES: STARTUP SCENE: ENTREPRENEURSHIP OF TOMORROW AND U.S-ROK NEW ECONOMIC PARADIGM. WITH VARIOUS NEW AREAS OF FOCUS, THE BUSINESS AND ECONOMIC PROGRAMS WILL STRIVE TO BROADEN THE SCOPE OF BUSINESS AND ECONOMIC PARTNERSHIPS INTERESTS OF THE U.S. AND KOREA.STARTUP SCENE: ENTREPRENEURSHIP OF TOMORROW: WITH THE GRACIOUS SUPPORT OF HANWHA LIFE, STARTUP SCENE HAS BEEN LAUNCHED IN 2024 WITH THE MISSION OF FOSTERING A THRIVING EAST COAST ENTREPRENEURIAL COMMUNITY THAT ENCOMPASSES THE US AND SOUTH KOREAN ECONOMIC LANDSCAPE. THROUGHOUT THE YEAR, WE HAVE SUCCESSFULLY HOSTED THREE IN-HOUSE PROGRAMS AND A HALF-DAY ANNUAL FORUM, FEATURING 13 STARTUP FOUNDERS, 3 VENTURE CAPITALISTS, 3 INDUSTRY EXPERTS, AND 4 JOURNALISTS. THESE PROGRAMS HAVE BEEN AVAILABLE PUBLICLY THROUGH IN-PERSON AND VIRTUAL AUDIENCES, ATTRACTING STUDENTS AND PROFESSIONALS FROM BUSINESS, FINANCE, AND STARTUP BACKGROUNDS.LEADERSHIP INTERVIEW SERIES/LOCAL LEADERSHIP IN GLOBAL CONTEXT: BUILDING UPON THE SUCCESS OF 2023, THE KOREA SOCIETY'S LEADERSHIP INTERVIEW SERIES HAS LAUNCHED A SUBSERIES, "LOCAL LEADERSHIP IN GLOBAL CONTEXT" IN 2024. THIS SERIES FEATURES MUNICIPAL, PROVINCIAL AND STATE-LEVEL LEADERS IN KOREA AND THE U.S., AND EXPLORES THE IMPORTANCE THAT LOCAL LEADERSHIP PLAYS IN NATIONAL POLICIES AND INTERNATIONAL RELATIONS. THESE SPEAKERS OFFER VALUABLE INSIGHTS INTO THEIR PERSONAL AND PROFESSIONAL EXPERIENCES AND OFFER INSIGHTS TO THE FASCINATING AND OFTEN UNDER-APPRECIATED DYNAMICS AT THE REGIONAL AND LOCAL LEVELS THAT WILL SHAPE THE FUTURE OF THE U.S.-KOREA RELATIONSHIP. THE SERIES HAS FEATURED NOTABLE FIGURES INCLUDING GOVERNOR OF GYEONGGI PROVINCE DONG YEON KIM, BUSAN MAYOR PARK HEONG-JOON, AND GOVERNOR OF JEOLLANAMDO KIM YUNG-ROK. THESE THOUGHT-PROVOKING DISCUSSIONS WITH LEADERS ARE MADE ACCESSIBLE TO THE PUBLIC THROUGH ONLINE PLATFORMS, PROVIDING EASE OF ACCESS AND VIEWING. THE KOREA SOCIETY ACTIVELY LEVERAGES THESE RECIPROCAL RELATIONSHIPS WITH THE INTERVIEWEES TO PROMOTE AND STRENGTHEN ECONOMIC TIES BETWEEN THE U.S. AND KOREA.U.S-ROK NEW ECONOMIC PARADIGM: THE SERIES U.S-ROK NEW ECONOMIC PARADIGM WAS DESIGNED TO ADDRESS THE CHANGING DEVELOPMENTS OF THE U.S.-ROK'S RELATIONSHIP AS A PARTNERSHIP OF CLOSER ECONOMIC INTERDEPENDENCE. BY INVITING INDUSTRY-RENOWNED SPEAKERS ACROSS VARIOUS PUBLIC AND PRIVATE SECTORS, BUSINESS, AND ACADEMIA, THIS SERIES AIMS TO EXPLORE KEY TOPICS RANGING FROM THE STRATEGIC IMPORTANCE OF U.S.-ROK RELATIONS FROM THE BUSINESS, ECONOMIC, AND TECHNOLOGICAL ANGLES TO HOW THE U.S. AND SOUTH KOREA CAN DEEPEN ECONOMIC COOPERATION. IN 2024, WE HAVE HELD THREE EVENTS ENCOMPASSING VARIOUS ISSUES INCLUDING U.S. ELECTIONS, US-ROK TRADE AND INVESTMENT RELATIONS, AND SMART CITY INITIATIVES, DEMONSTRATING THE COMPREHENSIVE VALUE OF UPHOLDING AND CULTIVATING DEEPER ECONOMIC COOPERATION.PARTNERSHIP EVENTS: IN 2024, PARTNERSHIP EVENTS CONTINUED TO SHAPE COLLABORATION WITH DIVERSE PARTNERS OF THE KOREA SOCIETY. THESE EVENTS CONTINUE TO SERVE AS A CRUCIAL PLATFORM TO FOSTER AND REINFORCE COLLABORATION WITH ORGANIZATIONS AND PROFESSIONALS ACROSS DIVERSE SECTORS. THIS YEAR, THE KOREA SOCIETY SUCCESSFULLY FACILITATED THE CO-HOSTING OF EVENTS SUCH AS THE "PEN COMMERCE & TECHNOLOGY DEMO DAY" IN PARTNERSHIP WITH PEN VENTURES, KOREA INSTITUTE OF STARTUPS AND DEVELOPMENT, THE MINISTRY OF SMES AND STARTUPS OF SOUTH KOREA, SEOUL STARTUP HUBS, AND THE SEOUL BUSINESS AGENCY AS WELL AS THE THE 2ND "KOREAN AMERICAN NEXT-GENERATION NETWORKING EVENT" WITH ENOB. THESE EVENTS HAVE PROVEN PARTICULARLY SUCCESSFUL IN ATTRACTING YOUNG PROFESSIONALS AND STUDENTS EAGER TO LEARN FROM INDUSTRY LEADERS.TOTAL NUMBER OF PROGRAM (IN-HOUSE ONLY): 10 TOTAL REGISTRATIONS [IN-PERSON & ONLINE]: 1026 YOUTUBE VIEWS FOR PROGRAMS: 4,915 PODCAST DOWNLOADS: 2,456YOUNG PROFESSIONALS' NETWORK: IN 2024, THE YOUNG PROFESSIONALS' NETWORK (YPN) REMAINED COMMITTED TO FOSTERING LEARNING, CAREER GROWTH, AND NETWORKING FOR YOUNG PROFESSIONALS. TO SUPPORT THIS, WE HOSTED DISCUSSIONS WITH KOREAN AND KOREAN-AMERICAN INDUSTRY LEADERS, OFFERING VALUABLE INSIGHTS AND SPARKING MEANINGFUL CONVERSATIONS.THIS YEAR'S SIX PROGRAMS COVERED DIVERSE FIELDS, INCLUDING LEGAL CAREER INSIGHTS, GEN.G'S VISION FOR ESPORTS WITH CEO ARNOLD HUR, BRIDGING KOREAN CULTURE WITH ENTREPRENEURSHIP & PHILANTHROPY, HEALTHCARE PANEL, 2024 MENTORING DAY, AND BREAKING INTO UX/PRODUCT DESIGN. YPN ALSO FOCUSED ON EXPANDING AND DIVERSIFYING THE KOREA SOCIETY'S YOUNG PROFESSIONAL AND STUDENT AUDIENCE BY STRENGTHENING PARTNERSHIPS AND BROADENING OUTREACH. AS A RESULT, FOUR OF SIX PROGRAMS WERE COLLABORATIVE EFFORTS, INTRODUCING NEW AUDIENCES TO THE KOREA SOCIETY, WHILE STUDENT AND NON-MEMBER ATTENDANCE TRIPLED COMPARED TO THE PREVIOUS YEAR.TOTAL NUMBER OF PROGRAMS: 6 TOTAL REGISTRATIONS [IN-PERSON & VIRTUAL]: 907 YOUTUBE VIEWS FOR PROGRAMS: 2,270 PODCAST DOWNLOADS: 480

  Expenses $419,940 · Revenue $4,214

• CONGRESSIONAL STUDY: THE CONGRESSIONAL STUDY GROUP ON KOREA (CSGK), ESTABLISHED IN PARTNERSHIP WITH THE KOREA FOUNDATION AND THE U.S. ASSOCIATION OF FORMER MEMBERS OF CONGRESS, WAS LAUNCHED IN FEBRUARY 2018. THE SIGNATURE EVENT IS A STUDY TOUR TO KOREA, WHICH BRINGS MEMBERS OF CONGRESS TO MEET SENIOR KOREAN GOVERNMENT OFFICIALS AND OTHER HIGH-LEVEL MEETING PARTNERS TO DISCUSS KEY ISSUES THAT IMPACT THE U.S.-ROK RELATIONSHIP. THE CONGRESSIONAL STUDY GROUP ON KOREA IS MAINLY SUPPORTED BY THE KOREA FOUNDATION AND THE SOCIETY PARTNERS WITH THE ASSOCIATION FOR FORMER MEMBERS OF CONGRESS (FMC) IN WASHINGTON DC, AN ORGANIZATION THAT ALSO RUNS THE LONG-STANDING GERMAN AND JAPAN CONGRESSIONAL STUDY GROUPS.THE FIFTH ANNUAL MEMBER OF CONGRESS STUDY TOUR ORIGINALLY PLANNED FOR 2023 WAS POSTPONED TO EARLY 2024 DUE TO UNPRECEDENTED CIRCUMSTANCES IN THE UNITED STATES CONGRESS. THE FMC WAS ABLE TO SUCCESSFULLY COMPLETE ITS FIFTH STUDY TOUR TO SOUTH KOREA IN MARCH 2024 THROUGH CLOSE COLLABORATION WITH THE KOREA SOCIETY. THE CONGRESSIONAL STUDY GROUP ON KOREA BROUGHT SIX MEMBERS OF CONGRESS TO MEET PRESIDENT YOON SUK-YEOL, HIS ADMINISTRATION'S SENIOR GOVERNMENT OFFICIALS AND OTHER HIGH-LEVEL MEETING PARTNERS TO DISCUSS KEY ISSUES THAT IMPACT THE U.S.-ROK ALLIANCE. THE DELEGATION CONVENED CSGK CO-CHAIRS REP. AMI BERA (D-CA) AND REP. YOUNG KIM (R-CA) AS WELL AS REPS. CHRISSY HOULAHAN (D-PA), DAN NEWHOUSE (R-WA), DEBORAH ROSS (D-NC), AND RAUL RUIZ (R-CA) FOR A FOUR-DAY PROGRAM IN SEOUL AND BUSAN, SOUTH KOREA. THE 2024 STUDY TOUR WAS ESPECIALLY MEANINGFUL AS THE DELEGATION ARRIVED SHORTLY BEFORE THE KOREAN NATIONAL ASSEMBLY ELECTIONS, ALLOWING MEMBERS OF CONGRESS TO LEARN ABOUT THEIR COLLEAGUES' ELECTION ENVIRONMENT. FURTHERMORE, DUE TO 2024 BEING AN ELECTION YEAR IN THE UNITED STATES FOR BOTH THE CONGRESS AND PRESIDENCY, MEMBERS WERE ABLE TO COMMENT ON THE ONGOING U.S. COMMITMENT TO THE KOREAN PENINSULA ON A BIPARTISAN BASIS, REASSURING THEIR PARTNERS IN KOREA AHEAD OF U.S. ELECTIONS.

  Expenses $22,175

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

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

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

2024

Filed

30 September 2025

IRS schema version

2024v5.2

Source object

202542799349301929

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