Form 990 for tax year 2022
Filed by KOREAN AMERICAN COMMUNITY SERVICES INC.
Totals
- Total revenue
- $909,034
- Total expenses
- $646,348
- Contributions and grants received
- $904,184
- Grants paid
- $0
- Program service revenue
- $1,540
- Investment income
- $10,213
- Other revenue
- -$6,903
- Total assets, end of year
- $1,252,472
- Total liabilities, end of year
- $71,072
- Net assets or fund balances, end of year
- $1,181,400
- Program services expenses (Part IX)
- $584,713
- Management and general expenses
- $61,635
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $584,713
Program services were 90.5% 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.
-
1e · Government grants (contributions)
$365,830
-
1f · All other contributions, gifts and grants
$538,354
-
2a · Program service revenue: PROGRAM FEES
total $1,540 · related or exempt $1,540
-
3 · Investment income
total $10,213 · excluded $10,213
-
8a · Fundraising events: gross income
$1,800
-
8b · Fundraising events: direct expenses
$10,446
-
8c · Net income from fundraising events
total -$8,646
-
11a · Other revenue: OTHER INCOME
total $1,743 · related or exempt $1,743
-
11e · Other revenue, total
$1,743
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $56,907 · program services $55,724 · management and general $1,183
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $206,787 · program services $204,040 · management and general $2,747
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $33,150 · program services $33,150
-
10 · Payroll taxes
total $20,975 · program services $20,892 · management and general $83
-
11a · Fees: management
total $52,631 · program services $51,893 · management and general $738
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $6,000 · program services $5,000 · management and general $1,000
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $6,306 · program services $1,800 · management and general $4,506
-
13 · Office expenses
total $23,808 · program services $18,531 · management and general $5,277
-
14 · Information technology
total $6,553 · program services $6,132 · management and general $421
-
15 · Royalties
total $0
-
16 · Occupancy
total $24,955 · program services $7,959 · management and general $16,996
-
17 · Travel
total $6,745 · program services $5,610 · management and general $1,135
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $9,358 · program services $7,426 · management and general $1,932
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $23,820 · management and general $23,820
-
23 · Insurance
total $10,621 · program services $10,621
-
24a · Other expenses: SENIOR NUTRITION PROGRAM
total $133,615 · program services $132,418 · management and general $1,197
-
24b · Other expenses: PROGRAM EXPENSES
total $24,117 · program services $23,517 · management and general $600
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $291,830 · end of year $208,041
-
2 · Savings and temporary cash investments
beginning of year $390,150 · end of year $727,949
-
4 · Accounts receivable
beginning of year $29,247 · end of year $60,082
-
9 · Prepaid expenses and deferred charges
beginning of year $3,043 · end of year $7,173
-
10a · Land, buildings and equipment: cost or other basis
$669,638
-
10b · Land, buildings and equipment: accumulated depreciation
$420,411
-
10c · Land, buildings and equipment, net
beginning of year $205,514 · end of year $249,227
-
17 · Accounts payable and accrued expenses
beginning of year $1,070 · end of year $4,405
-
24 · Unsecured notes and loans payable
end of year $66,667
-
27 · Net assets without donor restrictions
beginning of year $863,031 · end of year $1,093,300
-
28 · Net assets with donor restrictions
beginning of year $55,683 · end of year $88,100
Mission and programs · 2022
Mission
KACS missions are improving the quality of life, increasing community involvement and opportunities for persons of Korean heritage. In pursuit of these missions, KACS acts as a bridge to the greater community, providing social, recreational, cultural, vocational, and educational activities as well as mobilizing support for other community programs.
Activities or mission (Part I)
KACS programs include social and educational services. Social services consist of information and referral, translation and interpretation, counseling, paralegal assistance, cultural events, and parenting.
-
To provide social, recreational, and educational services for low income Korean American seniors, youth and families.
Expenses $584,713
As filed on the 2022 return.
Listed in Part VII
-
Eunice ChunEUNICE CHUN
EXECUTIVE DIRECTOR
- Total calculated
- $56,907
- From this org
- $56,907
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 40 related
-
Moon-Hi ReeMOON-HI REE
TREASURER
- Total calculated
- $0
- Hours/week
- 3 + 3 related
-
Hee Shik KimHEE SHIK KIM
HONORARY CHAIR
- Total calculated
- $0
- Hours/week
- 3 + 3 related
-
Susan Alexander KimSUSAN ALEXANDER KIM
SECRETARY
- Total calculated
- $0
- Hours/week
- 3 + 3 related
-
Jae Hark YangJAE HARK YANG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3 + 3 related
-
Euisune Hickman ChoeEUISUNE HICKMAN CHOE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3 + 3 related
-
Nomi Chung Sook YouNOMI CHUNG SOOK YOU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3 + 3 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 23 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202322689349300507
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