Form 990 for tax year 2024
Filed by KOREA TOWN SENIOR AND COMMUNITY CENTER INC.
Totals
- Total revenue
- $834,853
- Total expenses
- $513,186
- Contributions and grants received
- $820,190
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $14,663
- Other revenue
- $0
- Total assets, end of year
- $2,508,074
- Total liabilities, end of year
- $39,339
- Net assets or fund balances, end of year
- $2,468,735
- Program services expenses (Part IX)
- $89,396
- Management and general expenses
- $423,790
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $89,396
Program services were 17.4% 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
$820,190
-
3 · Investment income
total $14,663 · related or exempt $14,663
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $177,824 · management and general $177,824
-
10 · Payroll taxes
total $14,072 · management and general $14,072
-
11c · Fees: accounting
total $5,530 · management and general $5,530
-
13 · Office expenses
total $145,152 · management and general $145,152
-
16 · Occupancy
total $48,031 · management and general $48,031
-
19 · Conferences, conventions and meetings
total $15,704 · management and general $15,704
-
22 · Depreciation, depletion and amortization
total $89,396 · program services $89,396
-
23 · Insurance
total $17,477 · management and general $17,477
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4 · end of year $3
-
2 · Savings and temporary cash investments
beginning of year $375,777 · end of year $767,353
-
9 · Prepaid expenses and deferred charges
end of year $2
-
10a · Land, buildings and equipment: cost or other basis
$2,720,416
-
10b · Land, buildings and equipment: accumulated depreciation
$981,200
-
10c · Land, buildings and equipment, net
beginning of year $1,783,420 · end of year $1,739,216
-
14 · Intangible assets
beginning of year $1,500 · end of year $1,500
-
25 · Other liabilities
beginning of year $13,633 · end of year $39,339
-
27 · Net assets without donor restrictions
beginning of year $2,147,068 · end of year $2,468,735
Mission and programs · 2024
Mission
PUBLIC SERVICES TO SENIORS
-
PUBLIC SERVICE TO SENIORS IN KOREA TOWN COMMUNITY
-
PUBLIC SERVICE TO SENIORS IN KOREA TOWN COMMUNITY
Expenses $89,396
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
JANICE Y CHUNG
TREASURER
- Total calculated
- $0
-
HYUN OK LEE
PRESIDENT
- Total calculated
- $0
-
YONG SIN SHIN
SECRETARY
- Total calculated
- $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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 August 2025
- IRS schema version
- 2024v5.0
- Source object
- 202513219349325146
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