← KOREAN COMMUNITY DEVELOPMENT SERVICES CENTER

Form 990 for tax year 2023

Filed by KOREAN COMMUNITY DEVELOPMENT SERVICES CENTER.

What the amendment changed

Compared with the return it replaced , filed 14 November 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue: $1,710,276 changed to $1,710,275
Total expenses: $1,447,593 changed to $1,473,175
Contributions and grants received: $180,866 changed to $4,766
Program service revenue: $1,511,358 changed to $1,687,458
Investment income: $143 changed to $142
Total assets, end of year: $5,233,437 changed to $5,260,668
Total liabilities, end of year: $69,954 changed to $122,771
Net assets or fund balances, end of year: $5,163,483 changed to $5,137,897
Program services expenses: $1,097,156 changed to $1,343,514
Management and general expenses: $350,437 changed to $129,661
Program service expenses (Part III): $1,097,156 changed to $1,343,515

Listed under a different title

DR JIN H YU: PRESIDENT/EXECUTIVE DIRECT then PRESIDENT/EXECUTIVE DIRECTOR
SHIRLEY GREGORY: BOARD MEMBER & AMP SECRETA then BOARD MEMBER & AMP SECRETARY

Totals

Total revenue: $1,710,275
Total expenses: $1,473,175
Contributions and grants received: $4,766
Grants paid: $0
Program service revenue: $1,687,458
Investment income: $142
Other revenue: $17,909
Total assets, end of year: $5,260,668
Total liabilities, end of year: $122,771
Net assets or fund balances, end of year: $5,137,897
Program services expenses (Part IX): $1,343,514
Management and general expenses: $129,661
Fundraising expenses: $0
Program service expenses (Part III): $1,343,515

Program services were 91.2% 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

$4,766
2a · Program service revenue: DAYCARE INCOME

total $1,029,994 · unrelated business $0 · excluded $0
2b · Program service revenue: RENTAL INCOME

total $657,464 · unrelated business $0 · excluded $0
3 · Investment income

total $142 · unrelated business $0 · excluded $0
11a · Other revenue: MISCELLANEOUS INCOME

total $17,909 · related or exempt $17,909 · unrelated business $0 · excluded $0
11e · Other revenue, total

$17,909

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $540,893 · program services $530,075 · management and general $10,818 · fundraising $0
10 · Payroll taxes

total $51,627 · program services $50,594 · management and general $1,033 · fundraising $0
12 · Advertising and promotion

total $40 · program services $0 · management and general $40 · fundraising $0
13 · Office expenses

total $92,962 · program services $88,314 · management and general $4,648 · fundraising $0
19 · Conferences, conventions and meetings

total $2,482 · program services $2,482 · management and general $0 · fundraising $0
20 · Interest

total $2,203 · program services $0 · management and general $2,203 · fundraising $0
22 · Depreciation, depletion and amortization

total $165,502 · program services $165,502 · management and general $0 · fundraising $0
23 · Insurance

total $120,616 · program services $108,554 · management and general $12,062 · fundraising $0
24a · Other expenses: REAL ESTATE TAXES

total $103,580 · program services $103,580 · management and general $0 · fundraising $0
24b · Other expenses: PROFESSIOBAL FEES

total $132,670 · program services $106,136 · management and general $26,534 · fundraising $0
24c · Other expenses: REPAIRS & MAINTENANCE

total $81,470 · program services $79,862 · management and general $1,608 · fundraising $0
24d · Other expenses: TELEPHONE

total $17,315 · program services $17,315 · management and general $0 · fundraising $0
24e · All other expenses

total $161,815 · program services $91,100 · management and general $70,715 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $512,823 · end of year $174,127
4 · Accounts receivable

beginning of year $167,326 · end of year $355,867
9 · Prepaid expenses and deferred charges

beginning of year $54,718 · end of year $82,193
10a · Land, buildings and equipment: cost or other basis

$5,902,484
10b · Land, buildings and equipment: accumulated depreciation

$1,883,186
10c · Land, buildings and equipment, net

beginning of year $3,873,753 · end of year $4,019,298
15 · Other assets

beginning of year $588,674 · end of year $629,183
17 · Accounts payable and accrued expenses

beginning of year $93,527 · end of year $64,601
23 · Secured mortgages and notes payable

beginning of year $149,900
25 · Other liabilities

beginning of year $53,070 · end of year $58,170
27 · Net assets without donor restrictions

beginning of year $4,900,797 · end of year $5,137,897

Mission and programs · 2023

Mission

KOREAN COMMUNITY DEVELOPMENT SERVICES CENTERS (KCDSC) MISSION IS TO PROVIDE THE MEMBERS OF OUR COMMUNITY WITH SUPPORT SERVICES THAT THEY NEED TO ACHIEVE PERSONAL GROWTH AND PURSUE COMMUNITY GROWTH. KCDSC ALSO PROVIDES SERVICES TO NEWLY-ARRIVED IMMIGRANTS AND REFUGEES AS WELL AS OTHER LOW INCOME AND/OR MINORITY GROUP. KCDSC OFFERS A WIDE ARRAY OF FREE OR LOW COST SERVICES TO THESE COMMUNITY MEMBERS INCLUDING CHILDCARE, AFTER SCHOOL TUTORING, SOCIAL SERVICES FOR ELDERLY, HOUSING COUNSELING, HOUSING DEVELOPMENT, BUSINESS CORRIDOR REVITALIZATION, AND LEGAL AND IMMIGRATION ASSISTANCE.

Activities or mission (Part I)

DAYCARE CENTER PROGRAM - KCDSC PROVIDES EXTENDED DAY CARE FOR CHILDREN OF IMMIGRANTS AS WELL AS OTHER LOW INCOME FAMILIES. THIS PROGRAM ALSO OFFERS A PRESCHOOL PROGRAM.

Expenses $783,255 · Revenue $1,029,994
HOUSING DEVELOPMENT - KCDSC ACQUIRES RESIDENTIAL PROPERTIES AND RENTS THE PROPERTIES TO IMMIGRANTS AND OTHER LOW INCOME FAMILIES.

Expenses $560,260 · Revenue $657,464

As filed on the 2023 return.

Listed in Part VII

DR JIN H YU

PRESIDENT/EXECUTIVE DIRECTOR

Total calculated

$30,000

From this org

$30,000

From related orgs

$0

Other

$0

Hours/week

30
DONALD STAFFORD

BOARD MEMBER

Total calculated

$0

Hours/week

1
JIM REED

BOARD MEMBER

Total calculated

$0

Hours/week

1
DR CHUNG WHA LEE IYENGAR

BOARD MEMBER

Total calculated

$0

Hours/week

1
SHIRLEY GREGORY

BOARD MEMBER & AMP SECRETARY

Total calculated

$0

Hours/week

1
JAY W KANG

SECRETARY AND TREASURER

Total calculated

$0

Hours/week

1
DONALD YU

BOARD CHAIR

Total calculated

$0

Hours/week

1
JIM CHO

BOARD CHAIR

Total calculated

$0

Hours/week

1

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: 2023
Filed: 10 January 2025
IRS schema version: 2023v6.0
Source object: 202500589349301450

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