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Nonprofiteer
← KOREAN AMERICAN FOUNDATION

Form 990 for tax year 2022

Filed by KOREAN AMERICAN FOUNDATION.

Totals

Total revenue
$1,172,842
Total expenses
$550,142
Contributions and grants received
$1,107,325
Grants paid
$460,000
Program service revenue
$0
Investment income
$65,512
Other revenue
$5
Total assets, end of year
$2,737,739
Total liabilities, end of year
$73,520
Net assets or fund balances, end of year
$2,664,219
Program services expenses (Part IX)
$460,000
Management and general expenses
$90,142
Fundraising expenses
$0
Program service expenses (Part III)
$460,000

Program services were 83.6% 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

    $1,107,325

  • 1g · Noncash contributions included above

    $55,825

  • 3 · Investment income

    total $65,512 · unrelated business $65,512

  • 11a · Other revenue: Other income

    total $5 · unrelated business $5

  • 11e · Other revenue, total

    $5

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $460,000 · program services $460,000

  • 7 · Other salaries and wages

    total $64,400 · management and general $64,400

  • 10 · Payroll taxes

    total $10,114 · management and general $10,114

  • 13 · Office expenses

    total $1,288 · management and general $1,288

  • 23 · Insurance

    total $5,290 · management and general $5,290

  • 24a · Other expenses: Repair and maintaence e

    total $7,929 · management and general $7,929

  • 24b · Other expenses: Meal

    total $847 · management and general $847

  • 24c · Other expenses: Filing expense

    total $200 · management and general $200

  • 24d · Other expenses: Other expense

    total $74 · management and general $74

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,899,737 · end of year $2,516,790

  • 9 · Prepaid expenses and deferred charges

    end of year $22,180

  • 11 · Investments: publicly traded securities

    beginning of year $42,566 · end of year $98,769

  • 15 · Other assets

    beginning of year $100,000 · end of year $100,000

  • 19 · Deferred revenue

    end of year $69,000

  • 25 · Other liabilities

    beginning of year $1,161 · end of year $4,520

  • 27 · Net assets without donor restrictions

    beginning of year $541,142 · end of year $1,019,219

  • 28 · Net assets with donor restrictions

    beginning of year $1,500,000 · end of year $1,645,000

Mission and programs · 2022

Mission

None

Activities or mission (Part I)

Our mission is to (i) improve the lives of the most vulnerable and marginazlied members of our community with a particular focus on Korean Americans, (ii) promote philanthropy and be an effective and diligent steward of charitable funds, and (iii) collaborate with community based organizations to build their capactiy to increase their effectiveness and ensure their sustainability.

  • KAF fulfills its mission and vision by raising and stewarding funds in order to strategically give back to the community through the administration of grants to nonprofits whose work address the most pressing needs of our community.

  • KAF provides fundholder services, assisting with gift administration and providing expertise based on the donor's philanthropic interests.

  • Activity Classification: Charitable GrantGrantee Name: KOREATOWN YOUTH & COMMUNITY CENTER (KYCC)Grantee Address: 3727 W. 6th St, Ste 300 Los Angeles, CA 90020 Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $25,000 · Grants $25,000

  • Activity Classification: Charitable GrantGrantee Name: KOREAN AMERICAN SPECIAL EDUCATION CENTERGrantee Address: 1233 S. Western Ave. Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: KOREAN AMERICAN FAMILY SERVICESGrantee Address: 3727 W. 6th St, Ste 320, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: TURBO CHARITABLE FOUNDATIONGrantee Address: 12 Upper Blackwater Canyon Rd. Rolling Hills, CA 90274Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: KOREAN AMERICAN FEDERATION OF LOS ANGELESGrantee Address: 981 S. Western Ave., #100 Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $20,000 · Grants $20,000

  • Activity Classification: Charitable GrantGrantee Name: LOS ANGELES REGIONAL FOOD BANKGrantee Address: 1734 East 41st St, Los Angeles, CA 90058Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: ABILITY FIRSTGrantee Address: 789 N. Fair Oaks Ave. Pasadena, CA 91103Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: KOREATOWN SENIOR AND COMMUNITY CENTERGrantee Address: 965 Normandie Ave., Ste 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/26/2022

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: CALIFORNIA COMMUNITY FOUNDATIONGrantee Address: 717 W. Temple St., Los Angeles, CA 90012Grantee Relationship: NoneProperty Description: CashDate of Gift: 01/24/2023

    Expenses $200,000 · Grants $200,000

  • Activity Classification: Charitable GrantGrantee Name: ABILITY FIRSTGrantee Address: 789 N. Fair Oaks Ave. Pasadena, CA 91103Grantee Relationship: NoneProperty Description: CashDate of Gift: 06/15/2023

    Expenses $100,000 · Grants $100,000

  • Activity Classification: Charitable GrantGrantee Name: KOREATOWN SENIOR AND COMMUNITY CENTERGrantee Address: 965 Normandie Ave., Ste 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 06/21/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: KOREAN AMERICAN CHAMBER OF COMMERCEGrantee Address: 3435 Wilshire Blvd., Suite 2450 Los Angeles, CA 90010Grantee Relationship: NoneProperty Description: CashDate of Gift: 07/11/2023

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: KOREAN AMERICAN COMMUNITY CENTER SAN FRANCISCOGrantee Address: 2473 Aram Avenue, San Jose, CA 95218Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/15/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: KOREATOWN SENIOR AND COMMUNITY CENTERGrantee Address: 965 Normandie Ave., Ste 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/20/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: KOREAN AMERICAN FEDERATION OF LOS ANGELESGrantee Address: 981 S. Western Ave., #100 Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/20/2023

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: KOREAN AMERICAN FEDERATION OF LOS ANGELESGrantee Address: 981 S. Western Ave., #100 Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/27/2023

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: KOREA TOWN SENIOR AND COMMUNITY CENTERGrantee Address: 965 Normandie Ave., Ste 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/27/2023

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: MILAN MISSIONGrantee Address: 14545 Valley View Ave, STE S, Santa Fe Springs, CA 90670Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/27/2023

    Expenses $5,000 · Grants $5,000

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

Listed in Part VII

  • Teresa Mosqueda

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • David Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Robin Kim

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Thomas Han

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Jerry Kang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Albert Jang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Kae H Jo

    INTERIM EXECUTIVE DIRECTOR

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Lim

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • William Choi

    GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    0

  • Kevin Kang

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $0
    Hours/week
    0

  • Joanne Kim

    CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    0

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
15 April 2024
IRS schema version
2022v5.0
Source object
202431069349302308

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

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