Praise Korean Cultural Community Center
- Assets
- $40.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Somerset, NJ
- Founding
- 01/2010
- Data as of
- 12/2022
- EIN
- 26-1078933
Organization Overview
Praise Korean Cultural Community Center is located in Somerset, NJ. The organization was established in 2010. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Praise Korean Cultural Community Center 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 12/2022, Praise Korean Cultural Community Center generated $136.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $142.0k during the year ending 12/2022. While expenses have increased by 3.0% per year over the past 8 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
IN TEACHING THE KOREAN LANGUAGE, WE OFFER CURRICULUM TO IMPROVE READING AND WRITING SKILLS. THIS IS REINFORCED BY SPEAKING ONLY KOREAN IN OUR SCHOOL EVEN DURING NON-CLASS HOURS. TO PROMOTE THE EDUCATION OF KOREAN CULTURE, WE OFFER CLASSES INCLUDING BUT NOT LIMITED TO ETIQUETTE, GARDENING, TAEKWONDO, BAKING, COOKING, TRADITIONAL ART AND TRADITIONAL DANCE. WE REGULARLY HOST EVENTS OPEN TO THE PUBLIC SUCH AS OUR "KOREAN NATIONAL FOLK DAY" WHERE STUDENTS CAN COMPETE AND PRESENT THEIR LEARNED SKILLS IN RELATION TO KOREAN LANGUAGE AND CULTURE INCLUDING BUT NOT LIMITED TO STORY -TELLING, STORY-WRITING, DRAWING, TAEKWONDO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eun Ju Jo Chairman | 1 | $0 | |
Sung Ok Ko President | 10 | $3,480 | |
Sanghoon Lee Treasurer/se | 10 | $3,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,917 |
| Total Program Service Revenue | $77,315 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $136,232 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $63,223 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $78,794 |
| Total expenses | $142,017 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $40,717 |
| Other assets | $0 |
| Total assets | $40,717 |
| Total liabilities | $0 |
| Net assets or fund balances | $40,717 |