Form 990 for tax year 2024
Filed by KOREAN AMERICAN COMMUNITY SERVICES INC.
Totals
- Total revenue
- $1,052,458
- Total expenses
- $955,225
- Contributions and grants received
- $953,870
- Grants paid
- $0
- Program service revenue
- $66,059
- Investment income
- $32,529
- Other revenue
- $0
- Total assets, end of year
- $1,413,715
- Total liabilities, end of year
- $83,314
- Net assets or fund balances, end of year
- $1,330,401
- Program services expenses (Part IX)
- $868,832
- Management and general expenses
- $86,393
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $868,832
Program services were 91.0% 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)
$421,341
-
1f · All other contributions, gifts and grants
$532,529
-
2a · Program service revenue: Events
total $66,059 · related or exempt $66,059
-
3 · Investment income
total $32,529 · related or exempt $32,529
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
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 $74,200 · program services $72,491 · management and general $1,709
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $328,653 · program services $321,083 · management and general $7,570
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $45,761 · program services $45,730 · management and general $31
-
10 · Payroll taxes
total $31,968 · program services $31,167 · management and general $801
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $1,200 · program services $2,200 · management and general -$1,000
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $2,800 · program services $2,760 · management and general $40
-
13 · Office expenses
total $11,612 · program services $10,820 · management and general $792
-
14 · Information technology
total $9,158 · program services $9,108 · management and general $50
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $7,905 · program services $7,905
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $77,654 · program services $40,462 · management and general $37,192
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $27,086 · management and general $27,086
-
23 · Insurance
total $14,424 · program services $22,222 · management and general -$7,798
-
24a · Other expenses: Catered Food
total $116,605 · program services $116,605
-
24b · Other expenses: Program Expense
total $99,656 · program services $99,591 · management and general $65
-
24c · Other expenses: Contractor Fee Expense
total $55,195 · program services $46,854 · management and general $8,341
-
24d · Other expenses: Raw Food Expense
total $10,735 · program services $10,735
-
24e · All other expenses
total $40,613 · program services $29,099 · management and general $11,514
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $221,490 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $645,237 · end of year $1,168,770
-
3 · Pledges and grants receivable
end of year $44,817
-
4 · Accounts receivable
beginning of year $141,835 · end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $12,997 · end of year $8,453
-
10a · Land, buildings and equipment: cost or other basis
$669,639
-
10b · Land, buildings and equipment: accumulated depreciation
$477,968
-
10c · Land, buildings and equipment, net
beginning of year $218,757 · end of year $191,671
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $4
-
17 · Accounts payable and accrued expenses
beginning of year $4,610 · end of year $84,844
-
25 · Other liabilities
beginning of year $1 · end of year -$1,530
-
27 · Net assets without donor restrictions
beginning of year $1,145,231 · end of year $1,210,406
-
28 · Net assets with donor restrictions
beginning of year $90,474 · end of year $119,995
Mission and programs · 2024
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 $868,832
As filed on the 2024 return.
Listed in Part VII
-
Eunice ChunEUNICE CHUN
Executive Dir.
- Total calculated
- $74,200
- From this org
- $74,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Hee Shik KimHEE SHIK KIM
Chairman
- Total calculated
- $0
- Hours/week
- 3
-
Susan Alexsander KimSUSAN ALEXSANDER KIM
Secretary
- Total calculated
- $0
- Hours/week
- 3
-
Moon-HireeMOON-HIREE
Treasurer
- Total calculated
- $0
- Hours/week
- 3
-
Nomi Chung Sook YouNOMI CHUNG SOOK YOU
Director
- Total calculated
- $0
- Hours/week
- 3
-
Sungsoo ChangSUNGSOO CHANG
Director
- Total calculated
- $0
- Hours/week
- 3
-
Veronica Jeongyeon KimVERONICA JEONGYEON KIM
Director
- Total calculated
- $0
- Hours/week
- 3
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
- 202523189349306302
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