Totals
- Total revenue
- $11,638,779
- Total expenses
- $5,210,526
- Contributions and grants received
- $2,765,381
- Grants paid
- $274,300
- Program service revenue
- $299,175
- Investment income
- $8,718,846
- Other revenue
- -$144,623
- Total assets, end of year
- $32,703,653
- Total liabilities, end of year
- $1,869,884
- Net assets or fund balances, end of year
- $30,833,769
- Program services expenses (Part IX)
- $3,420,038
- Management and general expenses
- $820,012
- Fundraising expenses
- $970,476
- Program service expenses (Part III)
- $3,420,038
Program services were 65.6% 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.
-
1b · Membership dues
$302,542
-
1c · Fundraising events
$768,947
-
1f · All other contributions, gifts and grants
$1,693,892
-
1g · Noncash contributions included above
$105,100
-
2a · Program service revenue: KOREAN STUDIES
total $293,045 · related or exempt $293,045
-
2b · Program service revenue: CORPORATE PROGRAMS
total $6,130 · related or exempt $6,130
-
3 · Investment income
total $542,342 · excluded $542,342
-
7a · Gross sales of assets other than inventory
securities $50,537,669
-
7b · Less cost or other basis and sales expenses
securities $42,361,165
-
7c · Gain or loss
securities $8,176,504
-
7d · Net gain or loss
total $8,176,504 · excluded $8,176,504
-
8a · Fundraising events: gross income
$206,836
-
8a · Fundraising events: contributions included on line 1c
$768,947
-
8b · Fundraising events: direct expenses
$351,459
-
8c · Net income from fundraising events
total -$144,623 · excluded -$144,623
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $250,000 · program services $250,000
-
2 · Grants to domestic individuals
total $24,300 · program services $24,300
-
5 · Compensation of officers, directors and key employees
total $321,297 · program services $193,611 · management and general $56,916 · fundraising $70,770
-
7 · Other salaries and wages
total $1,574,306 · program services $948,663 · management and general $278,881 · fundraising $346,762
-
8 · Pension plan contributions
total $71,832 · program services $43,285 · management and general $12,725 · fundraising $15,822
-
9 · Other employee benefits
total $197,056 · program services $118,744 · management and general $34,908 · fundraising $43,404
-
10 · Payroll taxes
total $129,240 · program services $77,879 · management and general $22,894 · fundraising $28,467
-
11c · Fees: accounting
total $28,000 · management and general $28,000
-
11f · Fees: investment management
total $36,325 · management and general $36,325
-
11g · Fees: other
total $140,100 · program services $5,750 · management and general $134,350
-
13 · Office expenses
total $36,442 · program services $24,056 · management and general $4,191 · fundraising $8,195
-
14 · Information technology
total $13,557 · program services $8,804 · management and general $1,862 · fundraising $2,891
-
16 · Occupancy
total $1,205,578 · program services $791,244 · management and general $165,400 · fundraising $248,934
-
17 · Travel
total $64,999 · program services $42,441 · management and general $8,866 · fundraising $13,692
-
22 · Depreciation, depletion and amortization
total $160,598 · program services $104,399 · management and general $22,023 · fundraising $34,176
-
23 · Insurance
total $19,137 · program services $11,700 · management and general $2,889 · fundraising $4,548
-
24a · Other expenses: PROGRAM COSTS
total $751,567 · program services $685,013 · fundraising $66,554
-
24b · Other expenses: CONTRIBUTED AIRLINE TIC
total $104,304 · program services $35,808 · fundraising $68,496
-
24c · Other expenses: OTHER EXPENSES
total $81,888 · program services $54,341 · management and general $9,782 · fundraising $17,765
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $510,019 · end of year $505,675
-
2 · Savings and temporary cash investments
beginning of year $2,161,800 · end of year $492,515
-
3 · Pledges and grants receivable
beginning of year $50,000 · end of year $1,225,358
-
4 · Accounts receivable
beginning of year $26,031 · end of year $124,313
-
9 · Prepaid expenses and deferred charges
beginning of year $29,273 · end of year $23,482
-
10a · Land, buildings and equipment: cost or other basis
$1,674,012
-
10b · Land, buildings and equipment: accumulated depreciation
$1,147,205
-
10c · Land, buildings and equipment, net
beginning of year $659,797 · end of year $526,807
-
11 · Investments: publicly traded securities
beginning of year $23,531,636 · end of year $28,221,947
-
15 · Other assets
beginning of year $2,314,806 · end of year $1,583,556
-
17 · Accounts payable and accrued expenses
beginning of year $102,483 · end of year $161,202
-
25 · Other liabilities
beginning of year $2,502,494 · end of year $1,708,682
-
27 · Net assets without donor restrictions
beginning of year $12,597,298 · end of year $12,012,501
-
28 · Net assets with donor restrictions
beginning of year $14,081,087 · end of year $18,821,268
Mission and programs · 2025
Mission
SEE SCHEDULE O.
Activities or mission (Part I)
STRENGTHENING THE BONDS OF AWARENESS, UNDERSTANDING & COOPERATION BETWEEN THE US & KOREA.
-
MEDIA: SEE SCHEDULE O.
Expenses $851,782
-
BUSINESS AND ECONOMICS: SEE SCHEDULE O.
Expenses $670,885 · Grants $2,300 · Revenue $9,843
-
EDUCATION: SEE SCHEDULE O.
Expenses $604,680 · Grants $22,000 · Revenue $289,332
-
POLICY: IN 2025, KOREA SOCIETY'S POLICY PROGRAMS NAVIGATED A YEAR OF PROFOUND GEOPOLITICAL SHIFTS, PROVIDING ESSENTIAL CLARITY AND CREDIBLE INSIGHTS ON THE U.S.-REPUBLIC OF KOREA (ROK) RELATIONSHIP. A DEFINING HIGHLIGHT OF THE YEAR WAS THE VAN FLEET POLICY FORUM, HOSTED AT THE ATLANTIC COUNCIL'S D.C. OFFICE IN PARTNERSHIP WITH THE INDO-PACIFIC SECURITY INITIATIVE. THROUGHOUT THE YEAR, THE SOCIETY'S POLICY TEAM CARRIED OUT LONG-FORM POLICY PROGRAMS AND ENGAGING SHORT-FORM MEDIA FEATURING EXPERT SPEAKERS TOUCHING ON A RANGE OF TOPICS FROM GEOECONOMICS TO DIPLOMACY. THE KIM KOO PROFESSIONAL SERIES REMAINED A CORNERSTONE OF OUR NEW YORK PROGRAMMING, CONVENING BUSINESS, NONPROFIT, ACADEMIC, AND MEDIA PROFESSIONALS FOR SIX SPECIALIZED ROUNDTABLES ON TOPICS RANGING FROM MARITIME SHIPBUILDING COOPERATION TO U.S.-KOREA-JAPAN TRILATERAL RELATIONS. THE SOCIETY HONORED U.S. VETERANS WITH AN ANNUAL ARMISTICE DAY SALUTE TO AMERICAN AND KOREAN AMERICAN VETERANS OF THE KOREAN WAR.TOTAL NUMBER OF PROGRAMS: 27REGISTRANTS FOR ALL PROGRAMS: 5,452YOUTUBE VIEWS FOR ALL PROGRAMS: 118,984PODCAST DOWNLOADS FOR ALL PROGRAMS: 16,747ARTS AND CULTURE: IN 2025, THE ARTS & CULTURE DEPARTMENT CONTINUED ITS MISSION TO PROMOTE THE EXCELLENCE AND DIVERSITY OF KOREAN AND KOREAN-AMERICAN ARTISTS, PERFORMERS, AUTHORS, AND OTHER PROFESSIONALS WITHIN THE ARTS AND CULTURE SECTOR. THIS WAS ACHIEVED BY A VARIETY OF EXHIBITIONS AND PROGRAMS OFFERED BOTH IN-PERSON AND ONLINE. BY PROVIDING NUMEROUS, TARGETED PROGRAMS TO CATER TO DIVERSE INTERESTS AND TASTES, THE ARTS & CULTURE DEPARTMENT SUCCESSFULLY ATTRACTED NEW DEMOGRAPHICS AND AUDIENCES. FURTHERMORE, THESE EFFORTS RAISED THE EXPOSURE AND AWARENESS OF KOREAN ARTS AND CULTURE AMONG ENGLISH-SPEAKING AUDIENCES WHILE PROVIDING A VITAL PLATFORM FOR KOREAN, KOREAN-BORN, AND ARTISTS OF KOREAN DESCENT TO SHOWCASE THEIR WORK. NOTABLE PARTICIPANTS INCLUDED ILYON WOO, THE PULITZER-PRIZE WINNING AUTHOR; SARAH AHN AND NAMSOON AHN, THE AUTHORS OF THE NEW YORK TIMES BESTSELLING COOKBOOK UMMA: A KOREAN MOM'S KITCHEN WISDOM AND 100 FAMILY RECIPES; AND LEE CHANG-DONG, THE CELEBRATED KOREAN AUTEUR.TOTAL NUMBER OF PROGRAM: 38TOTAL REGISTRATIONS [IN-PERSON & ONLINE]: 5,031YOUTUBE VIEWS FOR PROGRAMS: 20,629THE CONGRESSIONAL STUDY GROUP ON KOREA (CGSK), LAUNCHED IN FEBRUARY 2018 WITH THE U.S. ASSOCIATION OF FORMER MEMBERS OF CONGRESS (FMC), ORGANIZES AN ANNUAL STUDY TOUR TO KOREA FOR MEMBERS OF CONGRESS TO DISCUSS KEY U.S.-ROK ISSUES WITH SENIOR KOREAN OFFICIALS. THE SIXTH ANNUAL MEMBER OF CONGRESS STUDY TOUR WAS SUCCESSFULLY COMPLETED IN APRIL 2025 BY FMC IN COLLABORATION WITH THE KOREA SOCIETY. SEVEN MEMBERS OF CONGRESS, INCLUDING ONE CGSK CO-CHAIR AND SIX OTHER REPRESENTATIVES (THREE DEMOCRATS, THREE REPUBLICANS), MET WITH KOREA'S MINISTER OF FOREIGN AFFAIRS AND OTHER HIGH-LEVEL OFFICIALS AS WELL AS KEY KOREAN BUSINESSES AND PARTNERS DURING THE WEEK IN SEOUL AND NEARBY SITES.
Expenses $1,292,691 · Grants $250,000
As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Kathleen StephensKATHLEEN STEPHENS
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Walter SharpWALTER SHARP
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Young ChoiYOUNG CHOI
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Michael BurkeMICHAEL BURKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Victor ChaVICTOR CHA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jun ChoiJUN CHOI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Philip GoldbergPHILIP GOLDBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Harry HarrisHARRY HARRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sandor HauSANDOR HAU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Hy HetheringtonHY HETHERINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mike JooMIKE JOO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Pious JungPIOUS JUNG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Abraham KimABRAHAM KIM
DIRECTOR
- Total calculated
- $30,000
- From this org
- $30,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Anthony KimANTHONY KIM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Theodore KwonTHEODORE KWON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jun Bong LeeJUN BONG LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kevin LeeKEVIN LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mark LippertMARK LIPPERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tami OverbyTAMI OVERBY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michael WoodsMICHAEL WOODS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jj YuJJ YU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Thomas J ByrneTHOMAS J BYRNE
PRESIDENT AND CEO
- Total calculated
- $321,297
- From this org
- $303,063
- From related orgs
- $0
- Other
- $18,234
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $303,063
- Bonus
- $0
- Other
- $0
- Deferred
- $18,234
- Nontaxable benefits
- $0
- Filer's total
- $321,297
-
Hae Kyung AhnHAE KYUNG AHN
SENIOR ADVISOR OF OUTREACH
- Total calculated
- $153,989
- From this org
- $131,839
- From related orgs
- $0
- Other
- $22,150
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $126,839
- Bonus
- $5,000
- Other
- $0
- Deferred
- $7,706
- Nontaxable benefits
- $14,444
- Filer's total
- $153,989
-
Hyun ChoHYUN CHO
FINANCIAL CONTROLLER
- Total calculated
- $133,399
- From this org
- $125,511
- From related orgs
- $0
- Other
- $7,888
- Hours/week
- 40
-
Jungha OhJUNGHA OH
SENIOR DIRECTOR OF ARTS & CULTURE
- Total calculated
- $113,100
- From this org
- $106,875
- From related orgs
- $0
- Other
- $6,225
- Hours/week
- 40
-
Eunjung KhoEUNJUNG KHO
DIRECTOR OF ADMINISTRATION
- Total calculated
- $120,469
- From this org
- $100,106
- From related orgs
- $0
- Other
- $20,363
- 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. 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
Answered yes
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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
-
FORMER MEMEBERS OF CONGRESS (FMC)
$250,000
TO SUPPORT THE CONGRESSIONAL STUDY GROUP ON KOREA
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 9 September 2026
- IRS schema version
- 2025v4.2
- Source object
- 202612589349302456
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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