Korean American Education Foundation
- Assets
- $1.1m
- Revenue
- $313.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Rockville, MD
- Founding
- 02/1973
- Data as of
- 06/2022
- EIN
- 23-7275374
Organization Overview
Korean American Education Foundation is located in Rockville, MD. The organization was established in 1973. According to its NTEE Classification (V30) the organization is classified as: Interdisciplinary Research, under the broad grouping of Social Science and related organizations. As of 06/2022, Korean American Education Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean American Education Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Korean American Education Foundation generated $313.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $239.9k during the year ending 06/2022. While expenses have increased by 8.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TEACHING KOREAN LANGUAGE, HISTORY AND MUSIC ON WEEKEND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHING KOREAN LANGUAGE, HISTORY AND MUSIC DURING WEEKEND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tiffany S Chew Teacher | Trustee | 4 | $4,800 |
Yeon S Han Teacher | 4 | $4,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,200 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $69,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,200 |
| Total Program Service Revenue | $212,568 |
| Investment income | $26,034 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $313,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $103,455 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,410 |
| Fees for services: Accounting | $1,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $800 |
| Office expenses | $3,883 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,452 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,338 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,922 |
| All other expenses | $6,085 |
| Total functional expenses | $239,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $433,666 |
| Savings and temporary cash investments | $706,198 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,139,864 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,139,864 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,139,864 |
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|---|---|---|
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American Schools Of Oriental Research Alexandria, VA | $6,291,200 | $2,203,920 |
Thomas A Russo Foundation Garnet Valley, PA | $0 | -$193,546 |
Consortium Of Social Science Associations Washington, DC | $825,866 | $659,932 |
Foundation For Chemistry Research And Initiatives Washington, DC | $3,334,871 | $2,190,170 |
Community Cooperative Washington, DC | $370,354 | $723,078 |
Passages Inc Clarion, PA | $267,142 | $487,812 |
International Aloe Science Council Inc Silver Spring, MD | $117,928 | $443,436 |
Korean American Education Foundation Rockville, MD | $1,139,864 | $313,802 |
National Association Of Multicultural Education Washington, DC | $552,073 | $206,348 |
North American Regional Science Council Inc Reston, VA | $514,021 | $131,878 |
Terror Free Tomorrow Washington, DC | $0 | $20,274 |