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Nonprofiteer
← KOREAN AMERICAN FOUNDATION

Form 990 for tax year 2023

Filed by KOREAN AMERICAN FOUNDATION.

Totals

Total revenue
$1,049,886
Total expenses
$451,584
Contributions and grants received
$916,878
Grants paid
$330,492
Program service revenue
$0
Investment income
$132,975
Other revenue
$33
Total assets, end of year
$4,375,160
Total liabilities, end of year
$3,482
Net assets or fund balances, end of year
$4,371,678
Program services expenses (Part IX)
$330,492
Management and general expenses
$121,092
Fundraising expenses
$0
Program service expenses (Part III)
$330,492

Program services were 73.2% 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

    $147,300

  • 1f · All other contributions, gifts and grants

    $769,578

  • 1g · Noncash contributions included above

    $49,892

  • 3 · Investment income

    total $132,975 · unrelated business $132,975

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $147,300

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Other income

    total $33 · unrelated business $33

  • 11e · Other revenue, total

    $33

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $330,492 · program services $330,492

  • 7 · Other salaries and wages

    total $13,767 · management and general $13,767

  • 10 · Payroll taxes

    total $1,599 · management and general $1,599

  • 13 · Office expenses

    total $1,557 · management and general $1,557

  • 23 · Insurance

    total $4,527 · management and general $4,527

  • 24a · Other expenses: Fundraising expense

    total $51,881 · management and general $51,881

  • 24b · Other expenses: Outside contract servic

    total $20,000 · management and general $20,000

  • 24c · Other expenses: Accounting expense

    total $13,300 · management and general $13,300

  • 24d · Other expenses: Meeting and conference

    total $9,870 · management and general $9,870

  • 24e · All other expenses

    total $4,591 · management and general $4,591

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,516,790 · end of year $3,007,567

  • 4 · Accounts receivable

    end of year $849,686

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,180 · end of year $89

  • 12 · Investments: other securities

    beginning of year $198,769 · end of year $517,818

  • 19 · Deferred revenue

    beginning of year $69,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $4,520 · end of year $3,482

  • 27 · Net assets without donor restrictions

    beginning of year $1,019,219 · end of year $2,064,181

  • 28 · Net assets with donor restrictions

    beginning of year $1,645,000 · end of year $2,307,497

Mission and programs · 2023

Mission

None

Activities or mission (Part I)

Our mission is to help strengthen communities, with a particular focus on the Korean American community, and build a brighter future for all residents of Southern California (the "Community"), by (i) seeking to improve life for all residents, especially those who are most vulnerable; (ii) promoting philanthropy and acting as an effective steward of charitable funds; and (iii) collaborating with community based organizations to build their capacity to increase their effectiveness and ensure their sustainability.

  • KAF fulfills its mission and vision by raising and stewarding funds in order to strategically give back to the community through the administration of grants to nonprofits whose work address the most pressing needs of our community.

  • KAF provides fundholder services, assisting with gift administration and providing expertise based on the donor's philanthropic interests.

  • Activity Classification: Charitable GrantGrantee Name: PAVA WorldGrantee Address: 3470 Wilshire Blvd. #612, Los Angeles, CA 90010Grantee Relationship: NoneProperty Description: CashDate of Gift: 10/13/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: Turbo Charitable FoundationGrantee Address: 12 Upper Blackwater Canyon Rd. Rolling Hills, CA 90274Grantee Relationship: NoneProperty Description: CashDate of Gift: 11/04/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: Korean American Special Education CenterGrantee Address: 1233 S. Western Ave. Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 11/20/2023

    Expenses $100,000 · Grants $100,000

  • Activity Classification: Charitable GrantGrantee Name: Koreatown Youth and Community CenterGrantee Address: 3727 W. 6th St., Suite 300, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: Korea Town Senior and Community CenterGrantee Address: 965 Normandie Ave STE 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023

    Expenses $50,000 · Grants $50,000

  • Activity Classification: Charitable GrantGrantee Name: Korea Town Senior and Community CenterGrantee Address: 965 Normandie Ave STE 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: Korea Town Senior and Community CenterGrantee Address: 965 Normandie Ave STE 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/18/2024

    Expenses $10,492 · Grants $10,492

  • Activity Classification: Charitable GrantGrantee Name: Seesaw Communities IncGrantee Address: 5681 Beach Blvd #100 Buena Park, CA 90621Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: Vision Care Service WestGrantee Address: P. O. Box 743219 Los Angeles, CA 90004Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: Korean American Story IncGrantee Address: 4 Cherry Lane, Scarsdale, NY 10583Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $20,000 · Grants $20,000

  • Activity Classification: Charitable GrantGrantee Name: Anderson Munger Family YMCAGrantee Address: 4301 W 3rd St, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $20,000 · Grants $20,000

  • Activity Classification: Charitable GrantGrantee Name: Korean American CoalitionGrantee Address: 3727 West 6th Street Suite 305, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $20,000 · Grants $20,000

  • Activity Classification: Charitable GrantGrantee Name: Korean American Family ServicesGrantee Address: 3727 W 6th Street Suite 320, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $20,000 · Grants $20,000

  • Activity Classification: Charitable GrantGrantee Name: Faith and Community EmpowermentGrantee Address: 3435 Wilshire Boulevard, Suite 350, Los Angeles, CA 90010Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: Zion Mountain FoundationGrantee Address: 685 N. 13th Ave. STE 1 Upland, CA 91786Grantee Relationship: NoneProperty Description: CashDate of Gift: 03/15/2024

    Expenses $20,000 · Grants $20,000

  • Activity Classification: Charitable GrantGrantee Name:Korean American Chamber of CommerceGrantee Address: 3435 Wilshire Blvd # 2450, Los Angeles, CA 90010Grantee Relationship: NoneProperty Description: CashDate of Gift: 03/15/2024

    Expenses $5,000 · Grants $5,000

  • Activity Classification: Charitable GrantGrantee Name: Koreatown Senior & Community CenterGrantee Address: 981 S. Western Ave, Suite 100, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023

    Expenses $10,000 · Grants $10,000

  • Activity Classification: Charitable GrantGrantee Name: Koreatown Youth and Community CenterGrantee Address: 3727 W. 6th St., Suite 300, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023

    Expenses $10,000 · Grants $10,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JOHN LIM

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • KEVIN KANG

    CHIEF EXECUTIVE OFFICER/CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • DAVID LEE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • ROBIN KIM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • THOMAS HAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • JERRY KANG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • ALBERT JANG

    CHIEF FINANCIAL OFFICER/TREASURER

    Total calculated
    $0
    Hours/week
    0

  • KAE H KO

    BOARD MEMBER/ INTERIM EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • JOANNE KIM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • TERRI MOSQUEDA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202532279349304258

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

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