Korean Gospel Broadcasting Company Inc
- Assets
- $5.6m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 31
- Location
- Anaheim, CA
- Founding
- 12/1997
- Data as of
- 12/2022
- EIN
- 33-0451487
Organization Overview
Korean Gospel Broadcasting Company Inc is located in Anaheim, CA. The organization was established in 1997. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Korean Gospel Broadcasting Company Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean Gospel Broadcasting Company Inc 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, Korean Gospel Broadcasting Company Inc generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (19.3%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (15.2%) per year over the past 8 years. 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
BROADCASTING GOSPEL AND VARIOUS RELIGIOUS PROGRAMS VIA AM 1190 24 HOURS EVERYDAY
Describe the Organization's Program Activity:
Part 3 - Line 4a
BROADCASTING GOSPEL AND VARIOUS RELIGIOUS PROGRAM VIA AM 1190 24 HOURS EVERYDAY
NANUM ON - CHARITABLE SUPPORTS FOR INDIVIDUALS AND ORGANIZATIONS IMPACTED BY COVID-19 PANDEMIC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Young Sun Lee President | OfficerTrustee | 40 | $50,750 |
Jungwoo Baek Director | Trustee | 1 | $0 |
Yu Chul Chin Director | Trustee | 1 | $0 |
Paul Gi Hong Han Executive Dir. | Trustee | 1 | $0 |
Joon Sik Kim Director | Trustee | 1 | $0 |
Seung Hee David Ko Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $680,803 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $987,988 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,668,791 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,670,386 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $105,000 |
| Grants and other assistance to domestic individuals. | $42,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $50,750 |
| Compensation of current officers, directors, key employees. | $50,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $773,929 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,463 |
| Payroll taxes | $64,308 |
| Fees for services: Management | $17,250 |
| Fees for services: Legal | $4,006 |
| Fees for services: Accounting | $4,742 |
| 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 | $45,224 |
| Information technology | $30,552 |
| Royalties | $0 |
| Occupancy | $17,604 |
| Travel | $6,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,476 |
| Interest | $102,889 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,900 |
| Insurance | $13,526 |
| All other expenses | $66,654 |
| Total functional expenses | $1,726,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,898,572 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $750,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $388 |
| Net Land, buildings, and equipment | $2,943,782 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,653 |
| Other assets | $31,000 |
| Total assets | $5,629,421 |
| Accounts payable and accrued expenses | $81,780 |
| 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 | $2,648,584 |
| Total liabilities | $2,730,364 |
| Net assets without donor restrictions | $2,899,057 |
| 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 | $5,629,421 |
Grants Awarded
Over the last fiscal year, Korean Gospel Broadcasting Company Inc has awarded $50,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
GRACE MINISTRIES INTERNATIONA | | | $10,000 |
MILAL MISSION | | | $10,000 |
MISSION UKRAINE | | | $20,000 |
SAEROUN CHURCH | | | $10,000 |