Form 990 for tax year 2023
Filed by KOREAN AMERICAN COMMUNITY FOUNDATION OF SAN FRANCISCO.
Totals
- Total revenue
- $1,144,451
- Total expenses
- $915,496
- Contributions and grants received
- $1,365,999
- Grants paid
- $395,000
- Program service revenue
- $0
- Investment income
- $499
- Other revenue
- -$222,047
- Total assets, end of year
- $2,913,898
- Total liabilities, end of year
- $319,903
- Net assets or fund balances, end of year
- $2,593,995
- Program services expenses (Part IX)
- $729,874
- Management and general expenses
- $63,370
- Fundraising expenses
- $122,252
- Program service expenses (Part III)
- $729,874
Program services were 79.7% 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
$817,695
-
1f · All other contributions, gifts and grants
$548,304
-
1g · Noncash contributions included above
$98,470
-
3 · Investment income
total $499 · excluded $499
-
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
-
8a · Fundraising events: gross income
$203,019
-
8a · Fundraising events: contributions included on line 1c
$817,695
-
8b · Fundraising events: direct expenses
$437,833
-
8c · Net income from fundraising events
total -$234,814
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Other
total $12,767 · related or exempt $12,767
-
11e · Other revenue, total
$12,767
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $395,000 · program services $395,000
-
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 $217,783 · program services $130,670 · management and general $28,312 · fundraising $58,801
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $115,760 · program services $69,456 · management and general $15,049 · fundraising $31,255
-
8 · Pension plan contributions
total $8,734 · program services $5,240 · management and general $1,136 · fundraising $2,358
-
9 · Other employee benefits
total $7,800 · program services $4,680 · management and general $1,014 · fundraising $2,106
-
10 · Payroll taxes
total $22,537 · program services $13,522 · management and general $2,930 · fundraising $6,085
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $2,108 · management and general $2,108
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $30,000 · program services $18,000 · management and general $3,900 · fundraising $8,100
-
12 · Advertising and promotion
total $10 · program services $10
-
13 · Office expenses
total $8,808 · program services $5,285 · management and general $1,145 · fundraising $2,378
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $17,489 · program services $10,493 · management and general $2,274 · fundraising $4,722
-
17 · Travel
total $6,476 · program services $6,476
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $2,398 · management and general $2,398
-
24a · Other expenses: KHS/Scholarships
total $33,499 · program services $33,499
-
24b · Other expenses: Bank/Merchant Service Charges
total $16,832 · program services $10,099 · management and general $2,188 · fundraising $4,545
-
24c · Other expenses: Grantmaking Activities
total $12,744 · program services $12,744
-
24d · Other expenses: Membership Fees
total $6,600 · program services $6,600
-
24e · All other expenses
total $10,918 · program services $8,100 · management and general $916 · fundraising $1,902
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $281,709 · end of year $124,702
-
2 · Savings and temporary cash investments
beginning of year $2,286,958 · end of year $2,672,879
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $30,000 · end of year $25,000
-
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 $50,000 · end of year $73,513
-
10c · Land, buildings and equipment, net
end of year $0
-
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 $17,804
-
17 · Accounts payable and accrued expenses
beginning of year $252,185 · end of year $4,902
-
18 · Grants payable
end of year $315,000
-
25 · Other liabilities
end of year $1
-
27 · Net assets without donor restrictions
beginning of year $2,396,482 · end of year $2,593,995
Mission and programs · 2023
Mission
The Korean American Community Foundation of San Francisco uplifts and connects the Korean-American community through philanthropy.
-
KACF-SF awarded $426,744 in total in grants, scholarship and event sponsorships. Through our grantee partners, 40 Korean Americans were treated with Mental health therapy, 77 were assisted with legal services, 25 survivors of domestic violence were supported, more than 5000 seniors were benefited from in-person essential services, leadership development, community engagement and advocacy.
Expenses $729,874 · Grants $407,744
As filed on the 2023 return.
Listed in Part VII
-
Timothy Kim
E.D. to 12/2023
- Total calculated
- $217,783
- From this org
- $217,783
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $217,783
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $217,783
-
So Yong Park
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
James Kim
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Yoon Cho
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Sophia Oh-Kim
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Thomas Cho
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Sung Jin Ingriselli
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Caroline Shin
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Catharina Min
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Yehbin Song
Director
- Total calculated
- $0
- Hours/week
- 0.75
-
Perry Ha
Chair
- Total calculated
- $0
- Hours/week
- 5
-
Andrew Kim
Secretary
- Total calculated
- $0
- Hours/week
- 0.75
-
Michael Kim
Treasurer
- Total calculated
- $0
- Hours/week
- 0.75
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
- 4a · Severance or change-of-control payment
Answered no
- 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
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
-
$130,000
Physical and Mental Health
-
$90,000
Senior Care and Empowerment
-
$30,000
Legal and Immigration
-
$30,000
Safety
-
$30,000
Senior Care and Empowerment
-
$30,000
Cultural
-
$15,000
Emerging Leaders
-
$15,000
Emerging Leaders
-
$10,000
Senior Care and Empowerment
-
$10,000
Senior Care and Empowerment
The 10 largest by cash amount. The API serves every itemized grant.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
Korean American Community Foundation Inc
501(c)(3) · Grants & capacity building assistance · NY
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 31 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443059349302679
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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