← KOREATOWN YOUTH AND COMMUNITY CENTER INC

Form 990 for tax year 2022

Filed by KOREATOWN YOUTH AND COMMUNITY CENTER INC.

Totals

Total revenue: $17,164,218
Total expenses: $16,216,478
Contributions and grants received: $15,228,177
Grants paid: $0
Program service revenue: $1,909,385
Investment income: $0
Other revenue: $26,656
Total assets, end of year: $10,385,335
Total liabilities, end of year: $4,092,177
Net assets or fund balances, end of year: $6,293,158
Program services expenses (Part IX): $15,443,688
Management and general expenses: $27,599
Fundraising expenses: $745,191
Program service expenses (Part III): $15,443,688

Program services were 95.2% 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.

1c · Fundraising events

$2,036,400
1e · Government grants (contributions)

$11,647,664
1f · All other contributions, gifts and grants

$1,544,113
1g · Noncash contributions included above

$125,096
2a · Program service revenue: KID'S TOWN

total $615,122 · related or exempt $615,122
2b · Program service revenue: SUPPORTING HOUSING

total $584,184 · related or exempt $584,184
2c · Program service revenue: ENVIRONMENTAL SERVICES

total $287,291 · related or exempt $287,291
2d · Program service revenue: YOUTH SERVICES

total $138,905 · related or exempt $138,905
2e · Program service revenue: ECONOMIC DEVELOPMENT

total $126,731 · related or exempt $126,731
2f · All other program service revenue

total $157,152 · related or exempt $157,152
8a · Fundraising events: gross income

$81,493
8a · Fundraising events: contributions included on line 1c

$2,036,400
8b · Fundraising events: direct expenses

$81,493
8c · Net income from fundraising events

total $0
11a · Other revenue: OTHER REVENUE

total $26,656 · related or exempt $26,656
11e · Other revenue, total

$26,656

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $414,635 · program services $17,589 · management and general $357,597 · fundraising $39,449
7 · Other salaries and wages

total $8,220,949 · program services $6,842,100 · management and general $1,073,295 · fundraising $305,554
8 · Pension plan contributions

total $198,659 · program services $144,325 · management and general $42,774 · fundraising $11,560
9 · Other employee benefits

total $1,213,977 · program services $1,005,830 · management and general $169,216 · fundraising $38,931
10 · Payroll taxes

total $681,162 · program services $550,198 · management and general $105,129 · fundraising $25,835
11b · Fees: legal

total $360 · management and general $360
11c · Fees: accounting

total $64,000 · management and general $64,000
11g · Fees: other

total $2,717,718 · program services $2,428,082 · management and general $175,347 · fundraising $114,289
12 · Advertising and promotion

total $181,568 · program services $173,437 · management and general $371 · fundraising $7,760
13 · Office expenses

total $90,460 · program services $66,420 · management and general $13,411 · fundraising $10,629
14 · Information technology

total $116,346 · program services $70,354 · management and general $42,926 · fundraising $3,066
16 · Occupancy

total $664,871 · program services $576,267 · management and general $67,199 · fundraising $21,405
17 · Travel

total $16,434 · program services $11,852 · fundraising $4,582
19 · Conferences, conventions and meetings

total $23,202 · program services $6,576 · management and general $816 · fundraising $15,810
22 · Depreciation, depletion and amortization

total $135,352 · program services $60,282 · management and general $75,070
23 · Insurance

total $87,854 · program services $15,816 · management and general $72,038
24a · Other expenses: PROGRAM EVENTS, SUPPLIE

total $1,067,919 · program services $1,022,013 · management and general $45,365 · fundraising $541
24b · Other expenses: AUTOMOBILE

total $171,394 · program services $169,482 · management and general $309 · fundraising $1,603
24c · Other expenses: TRAINING

total $129,742 · program services $77,310 · management and general $22,942 · fundraising $29,490
24d · Other expenses: BAD DEBT EXPENSES

total $17,422 · program services $17,422
24e · All other expenses

total $2,454 · program services $2,188,333 · management and general -$2,300,566 · fundraising $114,687

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,861,243 · end of year $1,535,124
3 · Pledges and grants receivable

beginning of year $13,152 · end of year $4,361
4 · Accounts receivable

beginning of year $3,774,263 · end of year $5,295,562
9 · Prepaid expenses and deferred charges

beginning of year $91,410 · end of year $126,321
10a · Land, buildings and equipment: cost or other basis

$3,259,467
10b · Land, buildings and equipment: accumulated depreciation

$1,884,643
10c · Land, buildings and equipment, net

beginning of year $1,306,445 · end of year $1,374,824
13 · Investments: program-related

beginning of year $318,178 · end of year $315,062
15 · Other assets

beginning of year $4,565 · end of year $1,734,081
17 · Accounts payable and accrued expenses

beginning of year $959,330 · end of year $1,279,152
19 · Deferred revenue

beginning of year $1,096,513 · end of year $1,093,885
25 · Other liabilities

beginning of year $0 · end of year $1,719,140
27 · Net assets without donor restrictions

beginning of year $5,090,496 · end of year $6,242,741
28 · Net assets with donor restrictions

beginning of year $222,917 · end of year $50,417

Mission and programs · 2022

Mission

KYCC'S PROGRAMS AND SERVICES ARE DIRECTED TOWARD RECENTLY IMMIGRATED, ECONOMICALLY DISADVANTAGED YOUTH AND THEIR FAMILIES, AND PROMOTE COMMUNITY SOCIO-ECONOMIC EMPOWERMENT.

Activities or mission (Part I)

TO PROVIDE A CONTINUUM OF COMMUNITY-BASED SERVICES TO THE CHILDREN AND FAMILIES OF KOREATOWN.

KYCC'S ENVIRONMENTAL SERVICES UNIT PROVIDES A RANGE OF VALUABLE FREE SERVICES TO THE RESIDENTS OF KOREATOWN AND ADJACENT AREAS INCLUDING CENTRAL AND SOUTH LOS ANGELES. THE URBAN FORESTRY PROGRAM CONSISTS OF TREE PLANTINGS, TREE MAINTENANCE, AND RELATED LANDSCAPING SERVICES. THE COMMUNITY BEAUTIFICATION PROGRAM OFFERS FREE GRAFFITI REMOVAL, LITTER ABATEMENT, AND BULKY ITEM PICK-UP SEVEN DAYS A WEEK. COMMUNITY ENGAGEMENT EFFORTS WHICH INCLUDE TREE GIVEAWAYS, NEIGHBORHOOD CLEAN-UPS, ENVIRONMENTAL EDUCATION WORKSHOPS, AND VARIOUS WORKFORCE DEVELOPMENT PARTNERSHIPS REMAIN AT THE CORE OF THE PROGRAM GOALS. KYCC IS DEDICATED TO BEAUTIFYING AND GREENING OUR NEIGHBORHOODS AND IN SERVING THE COMMUNITY TO REALIZE A HEALTHIER, MORE SUSTAINABLE COMMUNITY FOR EVERYONE.

Expenses $3,108,911 · Revenue $287,291
THE COMMUNITY ECONOMIC DEVELOPMENT SERVICES UNIT STRIVES TO IMPROVE THE FINANCIAL STABILITY OF LOW INCOME RESIDENTS BY PROVIDING FREE TAX PREPARATION SERVICES AND LINKING THEM TO VARIOUS FINANCIAL CAPABILITY BUILDING SERVICES. KYCC'S ASSET AND CREDIT BUILDING PROGRAM, AND FINANCIAL EDUCATION AND COACHING SERVICES SEEK TO IMPROVE FINANCIAL STABILITY OF OUR CLIENTS. KYCC PROVIDES EARNED INCOME TAX CREDIT OUTREACH, LOW INCOME TAXPAYER CLINIC SUPPORTS INDIVIDUALS WITH TAX CONTROVERSIES, RENTAL AND UTILITY ASSISTANCE. FINALLY, KYCC OFFERS A SMALL BUSINESS DEVELOPMENT PROGRAM TO PROVIDE TECHNICAL ASSISTANCE AND WORKSHOPS FOR SMALL BUSINESS OWNERS IN AND AROUND KOREATOWN.

Expenses $3,672,064 · Revenue $126,731
THE CLINICAL SERVICES UNIT OFFERS CULTURALLY COMPETENT MENTAL HEALTH SERVICES FOR LOW-INCOME CHILDREN, YOUTH, AND THEIR FAMILIES. INDIVIDUAL, GROUP, AND FAMILY THERAPY IS PROVIDED FREE OF CHARGE IN OUT-PATIENT, SCHOOL-BASED, AND IN-HOME SETTINGS THROUGH CONTRACTS WITH THE COUNTY DEPARTMENT OF MENTAL HEALTH, COUNTY DEPARTMENT OF CHILDREN AND FAMILY SERVICES, AND OTHER FUNDERS. SERVICES ALSO INCLUDE MEDICATION MANAGEMENT, INDIVIDUAL AND FAMILY-BASED CASE MANAGEMENT, CHILD ABUSE PREVENTION/INTERVENTION, AND PARENTING EDUCATION. ALL SERVICES ARE AVAILABLE IN ENGLISH, SPANISH, AND KOREAN.

Expenses $2,783,035 · Revenue $16,379
KYCC PROVIDES YOUTH SERVICES, KIDS TOWN, AND PREVENTION EDUCATION SERVICES. YOUTH SERVICES INCLUDE AFTERSCHOOL PROGRAMS FOR YOUTH FROM 1ST GRADE THROUGH HIGH SCHOOL. KYCC ALSO OFFERS A FULL-DAY SUMMER CAMP AT AN AFFORDABLE PRICE. KIDS TOWN SERVICES INCLUDE EARLY CHILDHOOD EDUCATION FOR CHILDREN AGES TWO AND A HALF MONTHS TO FIVE YEARS. THE PREVENTION EDUCATION UNIT PROVIDES PREVENTION EDUCATION WORKSHOPS BY WORKING WITH YOUTH, PARENTS AND THE LOS ANGELES UNIFIED SCHOOL DISTRICT (LAUSD). THESE WORKSHOPS INCREASE COMMUNITY PROTECTIVE FACTORS, INCLUDING SOCIAL AND EMOTIONAL LEARNING, AND RESILIENCY, AS WELL AS DEVELOPING OPEN COMMUNICATION BETWEEN YOUTH AND PARENTS. THE PROGRAM ALSO DISCUSSES FACTS AND KNOWLEDGE ABOUT SUBSTANCE ABUSE AND PROVIDES PARTICIPANTS WITH THE TOOLS FOR BUILDING HEALTHY FAMILIES. KYCC ALSO BUILDS COALITIONS THAT ADDRESS POLICIES THAT ARE HEALTH-FOCUSED, INCLUDING REDUCING ACCESS AND AVAILABILITIES TO SUBSTANCES IN COMMUNITIES OF KOREATOWN, PICO-UNION, AND WESTLAKE. THE OUTCOME IS BUILDING RESILIENT AND EMPOWERED COMMUNITIES THAT REDUCE THE RATE OF SUBSTANCE ABUSE AND THE HARMS THAT ARE ASSOCIATED.

Expenses $5,879,678 · Revenue $1,479,244

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

Listed in Part VII

TED KIM

PRESIDENT

Total calculated

$0

Hours/week

2
TEDDY ZEE

VICE PRESIDENT

Total calculated

$0

Hours/week

2
FRANK LOPEZ

SECRETARY

Total calculated

$0

Hours/week

2
VIVIAN I KIM

TREASURER

Total calculated

$0

Hours/week

2
WONTAE CHA

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
EDWARD K KIM

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
KAREN S KIM

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
PAUL TKIM

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
PETE KIM

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
RICHARD KIM

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
SANDRA LEE

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
JONG C KIM

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
EDWARD PAI PHD

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
FRANCES PARK ESQ

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
NITA SONG

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
PATRICIA L WATTS

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
BETTIE J WOODS

BOARD OF DIRECTOR

Total calculated

$0

Hours/week

2
JOHNG HO SONG

EXECUTIVE DIRECTOR

Total calculated

$269,370

From this org

$219,135

From related orgs

$0

Other

$50,235

Hours/week

40

Schedule J breakdown matched by us

Base

$219,135

Bonus

$0

Other

$0

Deferred

$8,541

Nontaxable benefits

$0 + $41,694 related

Filer's total

$227,676 + $41,694 related
JOSEPH ST JOHN

CHIEF OPERATING OFFCER

Total calculated

$172,335

From this org

$149,284

From related orgs

$0

Other

$23,051

Hours/week

40

Schedule J breakdown matched by us

Base

$149,284

Bonus

$0

Other

$0

Deferred

$6,160

Nontaxable benefits

$0 + $16,891 related

Filer's total

$155,444 + $16,891 related
FRANCESCA LERUE

CHIEF PROGRAM DIRECTOR

Total calculated

$188,651

From this org

$157,028

From related orgs

$0

Other

$31,623

Hours/week

40

Schedule J breakdown matched by us

Base

$157,028

Bonus

$0

Other

$0

Deferred

$6,572

Nontaxable benefits

$0 + $25,051 related

Filer's total

$163,600 + $25,051 related

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 · Form 990 of other organizations
3 · Written employment contract
3 · Compensation survey or study
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

The filer's explanations (Part III)

PART I, LINE 3: IN 2022, THE EXECUTIVE COMMITTEE RECOMMENDED AN ADJUSTMENT TO THE EXECUTIVE DIRECTOR'S COMPENSATION TO THE CURRENT LEVEL, AND IT ACCEPTED AN ADJUSTMENT RECOMMENDATION MADE BY THE EXECUTIVED DIRECTOR TO THE CHIEF OPERATING OFFICER'S COMPENSATION TO THE CURRENT LEVEL. THERE WAS A REVIEW BY MEMBERS OF THE EXECUTIVE COMMITTEE AND APPROVAL FROM THE FULL BOARD. MODIFICATIONS TO COMPENSATION, INCLUDING BENEFITS, OF THE EXECUTIVE DIRECTOR AND CHIEF OPERATING/FINANCIAL OFFICER ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS, IF SUCH MODIFICATIONS ARE NOT SUBSTANTIALLY SHARED BY ALL EMPLOYEES. COMPARABLE DATA, COMPENSATION SURVEYS, AND OTHER MEANS ARE USED TO DETERMINE THAT THE COMPENSATION IS 'JUST AND REASONABLE'.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

KYCC OAK LLC

DEVELOPMENT OF HOUSING FOR LOW-INCOME AND MODERATE INCOME INDIVIDUALS · CA · income $25,500 · assets $5

Directly controlled by KOREATOWN YOUTH AND COMMUNITY CENTER INC
KYCC SOLARIS LLC

DEVELOPMENT OF HOUSING FOR LOW-INCOME AND MODERATE INCOME INDIVIDUALS · CA · income $62,500 · assets $0

Directly controlled by KOREATOWN YOUTH AND COMMUNITY CENTER INC

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 May 2024
IRS schema version: 2022v5.0
Source object: 202431369349316478

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

The source document this was parsed from is served over the API, which is where bulk and document access live.