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Nonprofiteer
← KOREANAMERICANSTORYORG INC

Form 990 for tax year 2024

Filed by KOREANAMERICANSTORYORG INC.

Totals

Total revenue
$727,132
Total expenses
$492,334
Contributions and grants received
$736,988
Grants paid
$2,050
Program service revenue
$0
Investment income
$8,493
Other revenue
-$18,349
Total assets, end of year
$740,693
Total liabilities, end of year
$14,891
Net assets or fund balances, end of year
$725,802
Program services expenses (Part IX)
$410,782
Management and general expenses
$58,415
Fundraising expenses
$23,137
Program service expenses (Part III)
$410,782

Program services were 83.4% 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.

  • 1c · Fundraising events

    $564,613

  • 1f · All other contributions, gifts and grants

    $172,375

  • 4 · Income from investment of tax-exempt bond proceeds

    total $8,493 · related or exempt $8,493

  • 8a · Fundraising events: gross income

    $49,000

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

    $564,613

  • 8b · Fundraising events: direct expenses

    $67,349

  • 8c · Net income from fundraising events

    total -$18,349 · excluded -$18,349

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,050 · program services $2,050

  • 5 · Compensation of officers, directors and key employees

    total $93,076 · program services $65,154 · management and general $13,961 · fundraising $13,961

  • 7 · Other salaries and wages

    total $134,924 · program services $128,177 · management and general $6,747

  • 9 · Other employee benefits

    total $31,914 · program services $25,258 · management and general $5,367 · fundraising $1,289

  • 10 · Payroll taxes

    total $21,255 · program services $19,593 · management and general $1,303 · fundraising $359

  • 11c · Fees: accounting

    total $11,000 · management and general $11,000

  • 12 · Advertising and promotion

    total $48,330 · program services $44,149 · management and general $2,681 · fundraising $1,500

  • 13 · Office expenses

    total $7,963 · program services $2,365 · management and general $5,591 · fundraising $7

  • 14 · Information technology

    total $89,018 · program services $85,659 · management and general $3,359

  • 17 · Travel

    total $20,588 · program services $18,488 · management and general $708 · fundraising $1,392

  • 19 · Conferences, conventions and meetings

    total $25,442 · program services $17,896 · management and general $6,349 · fundraising $1,197

  • 22 · Depreciation, depletion and amortization

    total $1,107 · program services $718 · management and general $192 · fundraising $197

  • 23 · Insurance

    total $1,063 · management and general $1,063

  • 24a · Other expenses: BANK AND PAYMENT PROCES

    total $4,604 · program services $1,275 · management and general $94 · fundraising $3,235

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $343,224 · end of year $568,694

  • 2 · Savings and temporary cash investments

    beginning of year $150,923 · end of year $158,362

  • 3 · Pledges and grants receivable

    beginning of year $5,000 · end of year $12,346

  • 10a · Land, buildings and equipment: cost or other basis

    $5,535

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,244

  • 10c · Land, buildings and equipment, net

    beginning of year $2,398 · end of year $1,291

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,541 · end of year $14,891

  • 27 · Net assets without donor restrictions

    beginning of year $442,804 · end of year $644,802

  • 28 · Net assets with donor restrictions

    beginning of year $48,200 · end of year $81,000

Mission and programs · 2024

Mission

KOREANAMERICANSTORYORG INC. SEEKS TO CAPTURE, CREATE, PRESERVE AND SHARE THE STORIES OF THE KOREAN AMERICAN EXPERIENCE BY SUPPORTING AND PROMOTING STORYTELLING IN ALL FORMS THAT EXPLORE AND REFLECT THE EVER EVOLVING KOREAN AMERICAN STORY. KOREANAMERICANSTORYORG INC. SEEKS TO BE AN INCLUSIVE HUB THAT BRIDGES THE GAP BETWEEN COMMUNITIES AND HELPS TO INSTILL CULTURAL AWARENESS AND PRIDE AMONG THE KOREAN AMERICAN COMMUNITY.

Activities or mission (Part I)

WE CAPTURE, SHARE AND ARCHIVE THE VIBRANCY AND THE DIVERSITY OF THE KOREAN AMERICAN EXPERIENCE THROUGH AUTHENTIC, PERSONAL STORYTELLING. WE BELIEVE IN THE POWER OF STORYTELLING TO FOSTER DIALOGUE, BUILD COMMUNITY AND PROMOTE HEALING. BY ARCHIVING THESE STORIES, WE AFFIRM OUR EXPERIENCES AS KOREAN AMERICANS AND PRESERVE OUR HISTORY FOR FUTURE GENERATIONS.

  • HISTORICAL PRESERVATION AND EDUCATION. THE ORGANIZATION SEEKS TO CAPTURE, CREATE, PRESERVE AND SHARE THE KOREAN AMERICAN EXPERIENCE BY COLLECTING AND SHARING STORIES FROM KOREAN AMERICANS FROM ALL WALKS OF LIFE. THESE STORIES ARE PRESENTED IN FILM, MEDIA AND PRINT TO BOTH PRESERVE THE KOREAN AMERICAN EXPERINCE AND EDUCATE FUTURE GENERATIONS.

    Expenses $410,782 · Grants $2,050

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ANN CHOH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • THOMAS PARK CLEMENT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN C KIM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GRACE LEE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • VIVIAN LEE

    BOARD CO-CHAIRS

    Total calculated
    $0
    Hours/week
    1

  • DIANA SON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAY OH

    BOARD CO-CHAIRS

    Total calculated
    $0
    Hours/week
    1

  • JEANNE JANG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • THERESA CHOH-LEE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SEAN KIM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOY WHEELER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HJ LEE

    EXECUTIVE DIRECTOR

    Total calculated
    $93,076
    From this org
    $93,076
    From related orgs
    $0
    Other
    $0
    Hours/week
    30

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
14 November 2025
IRS schema version
2024v5.2
Source object
202533219349312628

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